Table of Content
A down payment is not required for families with low-to-moderate incomes. A conventional loan requires a 5% down payment (3% for first-time buyers); jumbo loans, second homes, multifamily properties, and investment properties require higher costs. You should also compare other physician loan options to see if one of them better serves your needs. Carefully consider what works for you and make the choice most likely to work for your immediate and long-term needs. But if I wasn't familiar with it, it would have been a little overwhelming because I didn't receive a lot of direction on what to do and how to do it.
Fairway Independent Mortgage Corporation physician mortgage loan products are available nationwide except Rhode Island and Pennsylvania. It is necessary to sign several final documents during the closing. Don’t forget to bring a photo ID and the payment for the down payment, closing costs, prepaid interest, taxes, insurance, and any additional fees. We will hand over the keys to you after all closing documents and funds have been disbursed.
How many banks would you like quotes from?
In some cases, physicians may be able to close on their home loan up to 90 days before the first day of residency with proof of a signed employment offer. You will receive a $1,250 bonus if you refinance $150,000 or more, or a $100 to $400 bonus if you refinance an amount from $20,000 to $149,999.99, depending on the amount refinanced. For the $1,250 Welcome Bonus offer, $500 will be paid directly by Student Loan Planner® via Giftly.
The maximum rate for your loan is 8.95% if your loan term is 10 years or less. For loan terms of more than 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95%. Please note, we are not able to offer variable rate loans in AK, IL, MN, NH, OH, TN, and TX.
Additional Loan Products
The standard program allows for bigger projects like adding square footage. The VA cash-out refinance allows you to take out a mortgage for more than you owe and pocket the difference in cash. This content is not provided or commissioned by any financial institution.
Fairway could be a good option if you have a poor credit score, or none at all. Most lenders pull your credit score when you apply for a mortgage. But Fairway lets you show alternative credit data, such as proof that you pay bills on time, on some of its mortgages. Fairway and Rocket Mortgage both offer more term length options than many lenders. You'll want Fairway for a USDA mortgage, reverse mortgage, or renovation loan, though, because Rocket Mortgage doesn't offer these loans. Fairway Independent Mortgage Corp. offers a variety of home loan options.
American Financial Network
Loan or savings calculators are offered for your own use and the results are based on the information you provide. The results of this calculator are only intended as an illustration and are not guaranteed to be accurate. Splash Financial loans are available through arrangements with lending partners. Your loan application will be submitted to the lending partner and be evaluated at their sole discretion. For loans where a credit union is the lender or a purchaser of the loan, in order to refinance your loans, you will need to become a credit union member. The Splash Student Loan Refinance Program is not offered or endorsed by any college or university.
Select a preferred time range that is most convenient for us to call you and schedule your appointment. Enter your first name, phone number, zip code, and insurance below. Get directions, reviews and information for Physician Group at Fairway Independent Mortgage Corporation in Salt Lake City, UT.
Down payment required
You can refinance into a fixed-rate or adjustable-rate mortgage, or do a cash-out refinance. You may also streamline refinance your FHA or VA mortgage, but Fairway doesn't offer USDA streamline refinances. Are you a doctor looking for information about mortgage loans for your profession? Read on to learn more about getting a physician loan.
My loan officer was dealing with her son who had kidney failure. But unfortunately, there was not any time when she initiated a call to me and said she would send me documents to sign or schedule a time so we could go over them. I happened to realize that I was calling her on her cellphone and not her office phone. When you apply for a mortgage with Fairway, you will receive a Loan Estimate form that includes the costs and fees of your loan, including closing costs.
Lenders receive a half-point on the “offers standard mortgage products” criterion if they offer only two of the three standard loan programs . In some cases, additional information was provided by a lender representative. Our lowest APR is only available to customers with the best credit and other factors. It will be based on your credit history, which repayment option you choose and other factors, including your cosigner’s credit history . Learn more about Discover Student Loans interest rates at DiscoverStudentLoans.com/Rates.
Fairway Independent Mortgage Corporation—more commonly known as just Fairway—is a national mortgage lender. For borrowers who want personalized assistance, Fairway could be a good choice over other companies. It offers in-person help with every step of the process, or you can work with a home loan advisor over the phone.
It is very important to do your own analysis before making any investment based on your own personal circumstances and consult with your own investment, financial, tax and legal advisers. I was not trying to call her cell at all hours of the night. But I work throughout the day and sometimes I don't think of questions until in the evening. So I would call her, thinking that I was gonna get her voicemail. But then she would answer the phone and it would always feel like a rushed conversation. It was like she wasn't letting me get my questions out.
Keep in mind that you’ll also need to save up for closing costs and other potential fees. When considering a physician loan from Fairway Independent Mortgage Co., there are a few advantages to borrowers who use this program. To decide whether Fairway Independent Mortgage is best for you, check rates and terms from a few different lenders and weigh your options carefully. Lastly, borrowers who want to tap their equity without refinancing will have to go elsewhere. Fairway does not offer a home equity loan or a home equity line of credit .
Common Questions About Medical Professional Loans …
One company offering this type of loan is Fairway Independent Mortgage Corporation. Let’s take a look at some of the Fairway mortgage requirements for a physician loan so you can decide if it’s right for you. After finishing your medical degree, there’s a good chance you’ll have a lot of student loans — making it difficult to qualify for a conventional mortgage. However, there are some lenders that offer access to special home loan financing for doctors.
No comments:
Post a Comment