WHAT IS A MORTGAGE?
Welcome to Fairway’s Mortgage 101 Resource Center. Here you will find mortgage basics along with other helpful tools to assist you along your mortgage pathway.
Types of Mortgage Loans
Owning a home is the American dream. For many, it can be difficult to secure the finances needed to pay for a home outright. That’s where a mortgage can help. A mortgage is a secured loan that is used to purchase real estate, whether new or existing. The value of the real estate purchased helps to secure the loan and provides collateral. Typically, the amount of the loan is split up into payments over a 15 or 30 year period with interest included. There are many different types of mortgage loans and mortgage refinance options available.
Finding the right loan is based upon your individual wants, needs and circumstances. At Fairway we offer many types of mortgage loans.
- Fixed Rate Mortgages
- Adjustable-Rate Mortgages (ARMs)
- FHA and VA Mortgages
- Conventional Loans
- First Time Home Buyer Loans
- Zero down payment options with USDA
- Jumbo Financing
- Refinancing Options
- Reverse Mortgages
Whether this is your first home or your fifth, it’s important to choose the right company to help you navigate through the different types of mortgage loans. This is why we have a number of Fairway Loan Officers to assist you. Each of our staff members is trained to handle numerous types of mortgages and can explain your different options in a clear and simple way. Our loan officers will supply you with distinct information to make your lending process a smooth ride. Contact one of our professional loan officers to learn more about your mortgage loan options.