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Fairway Independent Mortgage Corp
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- 43 Answers
- 1 Best Answer
- 11 First Answers
- 12 Useful Answers
Only 3% of Mississippi licensed originators have earned the Lending Integrity Seal of Approval!
A Certified Residential Mortgage Specialist (CRMS) and a Mississippi Residential Mortgage Specialist (MRMS). Fairway Independent Mortgage Corp is a "Mississippi and Tennessee Licensed Mortgage Company," also licensed in the following states: Arkansas, Florida, Alabama, and Missouri.
Let me help you with any mortgage questions you may have... I am committed to customer service!
Visit our new branch website at
http://www.fairwaysouth.com or visit our corporate website at
http://www.fairwayindependentmc.com.
Member of:
- National Association of Mortgage Brokers (NAMB)
- Mississippi Association of Mortgage Brokers (MAMB)
- Referrals-Inc.com
Doug Capps,…'s Questions (0)
Doug Capps,…'s Answers (43)
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Doug Capps, CRMS, MRMS answered:
Latisha,
Allow me to also address the closing cost issue - with USDA Rural Housing you can also "finance" the closing costs "up to" the appraised value.
My suggestion would be to talk to a "local" mortgage company to see what your options may be. - Sat Nov 22 2008, 10:23
Latisha,
You may have at least one option - but there are a couple of qualifying factors:
- USDA Guaranteed Rural Housing - 100% financing, NO down payment, competitive interest rates and flexible credit guidelines. This is a VERY good program. There are income limitations to this program along with location restrictions.
If you're looking for 100% financing, this may be the best loan program for you. Call around a few mortgage companies in your area to see who does this program. - Fri Nov 21 2008, 12:55
Doug Capps, CRMS, MRMS answered:
Hi Jennifer,
Actually co-signors "are" allowed on both FHA and conventional conforming loans - which you can use to purchase manufactured housing. - Fri Nov 21 2008, 13:06
Doug Capps, CRMS, MRMS answered:
Casmar, there are many mortgage companies out there that only need 6 months on title before they will do a cash-out refinance - try calling GMAC.
I cannot help with your refinance, but if you do not want to use GMAC or they cannot help - then email me back, tell me the reason and I will find another lender for you.
Fannie Mae "new" guidelines require only 6 months on title.
dougc@fairwaymc.com - Sat Oct 11 2008, 06:01
Doug Capps, CRMS, MRMS answered:
If you're a first time homebuyer with great credit AND wanting to put 20% down, then you would be better served NOT going FHA or VA. These loans have upfront mortgage insurance and are better for buyer's wanting to put down a "minimum" down payment. The rates are comparable.
If you would prefer keeping your money and investing it elsewhere and get maximum financing, then from Vet to Vet - go VA. If you have at least a 10% disability, then the upfront funding fee is waived. - Sun Aug 31 2008, 20:13
Doug Capps, CRMS, MRMS answered:
Your interest rate is going to vary on many factors, such as loan program (FHA vs Conventional), credit score, loan amount, LTV (80% vs. 97%), term (30 year vs 15 year), region etc. etc..
When checking rates, the lowest rate is not ALWAYS the best. Would you sacrifice .25 (6.00 vs 6.25) in rate to get a smoother transaction and level of communication???
But to answer your question, call some LOCAL loan officers with your scenario - that way you know if you interest rate is good or not based upon your loan program. - Sun Aug 31 2008, 20:02
NEW Member of the Lending Integrity Seal of Approval
CRMS - Certified Residential Mortgage Specialist
MRMS - Mississippi Residential Mortgage Specialist
Lifetime member of the Honorable Order of St. Michael
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