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say about us!

See below for our featured loan programs.

3.5% Down.

0% Down, No MI.
Offered in eligible areas.
0% Down, No MI
veteran's loan.
Each program is a 30-year fixed rate mortgage.

Standard closing time for each program is 4-6 weeks.

We Are Lenders, Not Brokers
With In-House Underwriting.

Official "HUD" Approved Lender


USDA Rural Development Loan Program

The United States Department of Agriculture (USDA) guarantees a loan program called the Rural Development Program.

The Rural Development Loan is is $0.00 down, 100% financed, no monthly MI/MIP and a 620 Minimum Credit Score.  What this means to you as the home buyer is:

$0.00 Down
- No cash required for downpayment
      1) The only cash you may need is for your Earnest Money (which you provide to your realtor at the time your Purchase Contract is accepted.)
      2)  Appraisal Fee (Fixed fee of $500.00) collected at the time you have an accepted purchase contract.
These two items (earnest money + $500) will be refunded to you after closing because they are included in your loan.  So, if you had to pay $100 in Earnest Money and the fixed $500 for the appraisal, after you close on the house, you would receive a check for $600.00.
100% Financed -  All Closing Costs and prepaids can be financed into your loan (subject to satisfactory appraisal for desired loan amount).
No Monthly MI/MIP - MI stands for Mortgage Insurance.  MIP stands for Mortgage Insurance Premium.  This is an Insurance Policy that is required by the government for any loan program that has a down payment of less than than 20% of the sale price.  If you were going with any other loan program you would be required to pay MIP. Because the USDA Loan Program is guaranteed by the Department of Agriculture there is NO monthly MI/MIP. 

USDA Funding Fee / Annual Fee - USDA does charge a funding fee for their guarantee, this funding fee is 2% of the total loan amount. USDA also charges an annual fee which is included as a part of your monthly payment. This annual fee is 0.4% of the loan amount broken down monthly each year for the life of the loan.

620 Minimum Credit Score - While The United States Department of Agriculture does not have a minimum credit score requirement for USDA Loans, all Investors currently have a 620 minimum credit score requirement. 

If you would like to see if you qualify for this program,
fill out our Pre-approval application.

For more information about this loan program, Click here
(Refer to the "Loan Guarantee Program")

For Eligible areas in Ohio, Click here.


If you have any additional questions,
don't hesitate to call us at: 330-337-3260
Toll Free at: 866-920-9305

Fax us at: (330) 337-3266

Fairway Independent Mortgage Corp - 550 E State Street Suite 1, Salem OH 44460
Local Phone: 330-337-3260 - Fax: 330-337-3266
©2016 Fairway Independent Mortgage Corporation NMLS ID 2289 EQUAL HOUSING LENDER - All Rights Reserved
Complaints may be directed to: (877) 699-0353 or Email Us: customerservice@Fairwaymc.com