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How to Get a Loan

6 Steps to Homeownership
 

Here at Fairway Independent Mortgage Corporation, our team strives to make the home loan process as simple as possible by guiding you through every step – from application to closing and beyond. We will also provide you with regular updates to keep you informed on the status of your loan throughout the entire process. If you have any questions, please contact your Fairway mortgage professional at any time.

We look forward to working with you through these steps to becoming a homeowner!
 

Step 1:  Initial Consultation
We recommend reaching out to your Fairway mortgage professional via email, phone or in person to discuss your homeownership goals. This initial consultation covers how long you plan on living in the home, the amount of down payment you will need, and how much you want your monthly payments to be.
At the appropriate time we'll order a property appraisal for you.

Step 2: Pre-Qualification*
A pre-qualification determines how much money you will be eligible to borrow before you actually apply for a loan. It is very important to understand that a pre-qualification does not guarantee a loan. During this step, we gather your financial information and make a conditional determination about your qualifications. You can review our Document Checklist for the basic information required.
Note: *A pre-qualification is not an approval of credit and does not signify that underwriting requirements have been met.  We will coordinate with the escrow team and you'll sign the final papers at their office.

Step 3: Processing
After you have completed a loan application, your mortgage professional collects all required documents and submits your loan file to the loan processor. The processor reviews your file and orders your property appraisal. Depending on your situation, the processor may need additional documentation during this step. Once your loan file is completed, the processor submits it to underwriting for approval.

Step 4: Underwriting
After you have completed a loan application, your mortgage professional collects all required documents and submits your loan file to the loan processor. The processor reviews your file and orders your property appraisal. Depending on your situation, the processor may need additional documentation during this step. Once your loan file is completed, the processor submits it to underwriting for approval.

Step 5: Pre-Closing
You will receive a loan commitment letter which contains the details of your loan including rate, amount and term along with any outstanding conditions that need to be addressed before the file is sent to closing. Once everything is cleared by the underwriter, our closing department will complete your final documents.

Step 6: Closing
During closing, you will sign a variety of final documents. Be sure to bring a photo ID along with the proper form of payment to cover your down payment, closing costs, prepaid interest, taxes, insurance or any additional costs. After the closing documents are completed and all funds have been disbursed, you will receive the keys to your new home!

Service. Speed. Satisfaction. That's the Fairway way.

Contact me today or more details, or apply for a loan.

 

 

 

 

Andrew Miller, Loan Officer, NMLS# 136423
Fairway Independent Mortgage Corp. NMLS Entity ID#2289
5 Executive Court, Suite 102, Lake Wylie, SC  29710
Office:  (704) 231-3991
Fax:  (866) 835-7153
andrew.miller@fairwaymc.com
Copyright © 2017 Fairway Independent Mortgage Corp.
FIMC NMLS #2289
Complaints may be directed to:
(877) 699-0353 or customerservice@fairwaymc.com
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