Closing Loans As Promised, As Scheduled, GUARANTEED
Introducing Fairway’s Guaranteed to Close Program
Here’s how it works:
- You come to FAIRWAY for Pre-Approval.
- We collect the necessary documents required for a mortgage application.
- We pull credit, we review the documentation, review with our underwriters and get clarifications when needed.
- We run your information thru the proper Automated Underwriting Services such as DU, LP, GUS for conventional, FHA, USDA, VA and PHFA loans.
- We issue a real Pre-Approval with the Guaranteed Stamp on it.
- We call you and your Realtor®, and we also call the Listing Agent to describe the Guarantee and strength of borrower when you are submitting an offer.
How it helps you!
- Stronger offers on the table in a competing bid situation.
- More confidence from Listing Agent and Seller.
- Help you work with a local lender that “Guarantees” their work, rather than with internet / out of area Pre-Approval Letters.
- You will enjoy being able to avoid issues.
- You will be protected by our secure documentation collection methods.
- 6 Guaranteed Strategic Points of Communication during the Application and Approval process to keep you, your Realtor® and the Listing Agent thoroughly informed from start to finish.
*Up to $1,000.00 in expenses guaranteed. Guarantee Requirements: Must go through the FAIRWAY 3-2-1 Go Program to qualify for the guarantee. The borrower’s personal financial qualifications stay the same or improve: Personal financial qualifications includes but is not limited to employment, income, assets, credit scores, and debt. The agreed upon loan parameters stay the same or improve: Agreed upon loan parameters includes, but is not limited to maximum loan amount, maximum total monthly payment, maximum interest rate, interest rate market conditions, down payment requirements, property insurance requirements and mortgage insurance requirements. The property meets all necessary loan requirements: Necessary loan requirements of the property includes but is not limited to, appraised value, insurability, property condition, inspection condition, legal title conditions, HOA conditions and housing project conditions. Guarantee not applicable to delays outside lender control. © 2019 A Division of Fairway Independent Mortgage Corporation, FIMC ID #2289 (www.nmlsconsumeraccess.org). EQUAL HOUSING LENDER. This guarantee expires on 12/31/2021 and is only applicable for those buyers that have completed a full mortgage application with the Lancaster Branch of FIMC on/before that date.
What to Expect
A Pre-Approval is often the key to seeing homes for sale. In today’s market a Pre-Qual just isn’t enough anymore. You need a Pre-Purchase Consultation, which includes a real Pre-Approval, before shopping. A Pre-Approval tells the Selling Agent that we have looked at your financial situation, in depth, and are confident we can provide you with a mortgage.
- Schedule a Pre-Purchase Consultation with us to discuss your goals and options (30-45 minutes).
- We create a MAP (Mortgage Analysis Plan) designed around your specific goals and needs.
- We provide a Pre-Approval to you and your Realtor.
What We Need From You
In order to pull a credit report, we will need:
- Full Names
- Social Security Numbers
- Home Address & Phone Number
- Copy of W2s and tax returns for the last 2 years.
- Copy of 2 months most recent bank statements (all pages please, even if blank).
- Copy of 1 month most recent pay stubs.
- One way to provide us with information we need to start your file is to fill out our secure Online Application.
- Provide all pages of bank and asset statements, even if blank. If your statements indicate large deposits we will need to have a paper trail showing where the deposits came from and why.
- Stay current on your existing accounts.
- Opt out from the credit bureau lists at www.optoutprescreen.com to protect yourself from potential identity theft and so you aren’t bombarded with unsolicited offers after settlement.
- Don’t worry about rates yet. When you have a home selected and are at the Application stage, then together we can begin watching for the best time to lock a rate.
- Don’t provide teller or internet print-outs for bank statements – we cannot use them.
- Don’t apply for new credit when applying for a mortgage. A new debt could change everything.
- Don’t close credit card accounts or consolidate your debts onto one card.