Fairway Independent Mortgage Corporation Blog

HUD Increases Costs Effective April

Posted by:  Fairway Independent Mortgage Corporation
2014-04-28 08:37:40

HUD Increases Costs Effective April In a move to increase their financial standing (and to get the FHA back into required capital requirements), on Monday, HUD announced their anticipated increases in the premiums they charge borrowers. Simply stated, the cost of borrowing is going up. FHA loa...[read more...]

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Should I rent My home

Posted by:  Fairway Independent Mortgage Corporation
2012-08-06 06:47:56

Should I rent My Home? There has been a lot written about how buying a home is less expensive than renting one in many parts of the country. Rents are skyrocketing and homes are at bargain prices. These two situations are also causing some sellers to consider renting their ...[read more...]

Categories:   mortgages | rental,


3.8% Home Sales Tax

Posted by:  Fairway Independent Mortgage Corporation
2012-07-18 08:52:13

      3.8% Home Sales Tax? We have received many questions about a possible 3.8% tax which will be put on home sales beginning in 2013. We want to do our best to clarify this situation for everyone. We are not...[read more...]

Categories:   mortgages | property taxes


Can You Sell My House?

Posted by:  Fairway Independent Mortgage Corporation
2012-07-10 08:25:06

The most important need of anyone attempting to sell their house is – TO GET IT SOLD! It is imperative that you, the agent, are very direct in what it takes to get a house sold. Here is a checklist we put together for you. ACCESS   A seller should be willing to give almost unli...[read more...]

Categories:   mortgages | short sales | fha


Short Sale Assistance for Military Families

Posted by:  Fairway Independent Mortgage Corporation
2012-07-02 07:41:51

Military families have just been given help to sell their homes when forced to move because of their service. Permanent Change of Station (PCS) orders often require quick moves and can create hardship for military homeowners who are underwater on their mortgages and therefore cannot sell their ho...[read more...]

Categories:   mortgages | foreclosure | short sales | fha


Foreclosure Inventory: Highest & Lowest States

Posted by:  Fairway Independent Mortgage Corporation
2012-06-01 07:03:01

Foreclosure Inventory: Highest & Lowest States* There were 66,000 completed foreclosures in the U.S. in April 2012 compared to 78,000 in April 2011 and 66,000* in March 2012. Since the start of the financial crisis in September 2008, there have been approximately 3.6 million completed for...[read more...]

Categories:   foreclosure


The Top 5 Reasons Deals Fall Apart

Posted by:  Fairway Independent Mortgage Corporation
2012-05-24 06:43:32

The Top 5 Reasons Deals Fall Apart I’ve been told that 29% of all contracts signed never make it to the closing table- that nearly 3 in 10 transactions where a buyer and seller have come to terms (no easy feat in this market) fall apart. In a more normal market, I would say 90% of deals...[read more...]

Categories:   mortgages


Short Sale vs Foreclosure: The 10 Common Myths Busted

Posted by:  Fairway Independent Mortgage Corporation
2012-05-14 05:49:26

Short Sale vs Foreclosure: The 10 Common Myths Busted It’s likely you’ve heard the term “short sale” thrown around quite a bit. But what, exactly, is a short sale? A short sale is when a bank agrees to accept less than the total amount owed on a mortgage to avoid h...[read more...]

Categories:   short sales | foreclosure


Prepare for your Mortgage Loan Application...

Posted by:  Fairway Independent Mortgage Corporation
2012-04-27 04:49:32

Prepare for your Mortgage Loan Application... With good preparation, most things are easier. Here are some ideas that can make your mortgage experience less painful. Income Items: Gather your documents. Today, many people will have to produce 2 years’ complete tax returns, i...[read more...]

Categories:   mortgages


The BIG DON'TS AFTER you Apply for a Mortgage

Posted by:  Fairway Independent Mortgage Corporation
2012-04-12 08:01:29

The BIG DON'TS AFTER you Apply for a Mortgage Don’t deposit cash into your bank accounts. Lenders need to source your money and cash is not really traceable. Small, explainable deposits are fine, but getting $10,000 from your parents as a gift in cash is not. Discuss the proper ...[read more...]

Categories:   mortgages


Bimonthly Mortgage Payments - Convenient But Not Cheap

Posted by:  Fairway Independent Mortgage Corporation
2012-04-03 07:29:55

Bimonthly Mortgage Payments : Convenient But Not Cheap The vast majority of today's mortgages are either 15- or 30-year fixed rate loans with payments made once a month. It is good to remember, however, that borrowers have mortgage payment options, including the option of making bimon...[read more...]

Categories:   mortgages


Foreclosure Homes Looking to Be Sold As Rentals

Posted by:  Fairway Independent Mortgage Corporation
2012-03-14 07:31:54

The Impact on REO Properties Being Purchased and Used as Rentals There has been much talk about the government selling bulk foreclosures which will be converted into rentals. What will this actually mean to the housing market? For the answer to that question, we go directly to the 2/28/2012 S...[read more...]

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Upfront and Annual Mortgage Insurance Premiums for FHA

Posted by:  Fairway Independent Mortgage Corporation
2012-03-09 08:23:33

Collections Mortgagee Letter 2012-3 provides greater clarity to Mortgage professionals and clients when dealing with questions regarding credit.  These changes take effect on loans on or after April 1, 2012.  The major change is that generally speaking if the collections are over $...[read more...]

Categories:   fha


Premier Capital Mortgage NEW Website Soon to Launch!

Posted by:  Fairway Independent Mortgage Corporation
2012-02-06 15:57:37

Premier Capital Mortgage's new, enhanced website is set to launch this week! [read more...]

Categories:   website launch