SPECIALTY PROGRAMS
The housing market doesn't have to feel like a battlefield. We offer unique programs that will help you compete with cash offers. Check out the program highlights and benefits below!
LET FAIRWAY'S LOCK, SHOP & GO PROGRAM BRING PEACE OF MIND TO THE HOME-BUYING PROCESS.
LET FAIRWAY'S LOCK, SHOP & GO PROGRAM BRING PEACE OF MIND TO THE HOME-BUYING PROCESS.
Take action by securing the rate today while shopping for a home. Lock in the rate for 90 days and NO additional fee!
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Eligible on purchase transactions only
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Available on Fairway's Conventional, FHA, VA, and USDA fixed-rate programs
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If the rates decrease, Fairway has that covered!
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Provide the signed purchase agreement within three (3) days of signing, and Fairway will update the initial lock to a final lock for up to 60 days at the improved market rate if market conditions allow.
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Seller receives peace of mind knowing the financing is guaranteed
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Buyer can compete with cash offers
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Borrower does not have to pay any additional fees to use this program
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If the guarantee is triggered, the seller may opt for Fairway to NOT buy their home, and instead walk away from the deal with $10,000 paid by Fairway, and the contract will be terminated.
FAIRWAY CASH GUARANTEE™ ADVANTAGES:
ADDITIONAL REQUIREMENTS/DETAILS:
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Borrower must have a Fairway Advantage® Pre-Approval
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Borrower must be financing with an FHA, VA or Conventional loan
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Note: If the seller opts to have Fairway purchase their home, Fairway will pay the appraised value or the contract price, whichever is lower.
What makes the Fairway Advantage Pre-Approval different?
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A Fairway Advantage Pre-Approval is underwritten except for certain property details (contract, title search, and appraisal), which means when you make an offer, sellers know the home is as good as sold. Not many other buyers can say that.
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Here are the highlights:
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Competes with cash
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Tells you how much you can borrow
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Backed by our commitment to fast closings​
When you get an Advantage Pre-approval from Fairway, you can breathe easy knowing that we’ve already looked at your finances: income, credit score and history, debt-to-income ratio. We don’t miss a thing. The Fairway Advantage Pre-Approval is as close to a guarantee as you can get. And sellers love a guarantee.
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Do I really need to get pre-approved to get a mortgage?
Technically? No. But in today’s market, pretty much, yes. A pre-approval — especially a Fairway Advantage Pre-Approval — tells real estate agents and sellers that you’re qualified to buy. Sellers don’t want to waste time when there are so many eager homebuyers, many offering all cash.
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How long does it take to get a Fairway Advantage Pre-Approval?
Receiving your Fairway Advantage Pre-Approval is fast. We understand how quickly things need to happen in this market and can accommodate rush situations in many cases. Remember, speed is one of our core values. And personalized service for getting you into a home? That’s kind of our superpower.
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*Fairway Advantage pre-approval is based on a full review of the borrower’s creditworthiness and is contingent upon there being no material changes in the borrower's financial condition or creditworthiness at the time of final loan approval. Final loan approval is subject to the following conditions: (1) borrower has identified a suitable property, and a valid appraisal supports the proposed loan amount; (2) a valid title insurance binder has been issued; and (3) borrower selects a mortgage program and locks in an interest rate that will support the pre-approved monthly payment amount. Loan must close before the expiration date provided in the pre-approval. Please note that submitting verifying documentation is not a requirement to receive an estimate of closing costs associated with a mortgage loan.