NCHFA Home Advantage Loans

Are you putting off buying a home because you think you need to save up more money?  Well you might not have to wait as long as you think!  Fairway is proud to offer NCHFA Home Advantage loans with down payment assistance that you can use to buy a home in Charlotte!  You can actually use this program to […] Read more »

Government Shutdown Impact on the Mortgage Market

A partial shutdown of the federal government has monopolized the headlines lately and certainly comes with some impacts to all lending institutions, including Fairway. Not all government agencies have issued specific guidance, we are speculating on some of the likely outcomes based on industry sources and past experiences in 2012 and 2011 when shutdowns were […] Read more »

USDA Loans Back Online!

I wrote a recent post about possible delays with USDA Rural Housing loans.  The good news is that the delays were very short lived and USDA is back funding loans once again!!  There have been some small changes made to USDA but the overall benefit of the programs remains intact. Just in case you are […] Read more »

USDA Changes Guarantee Fee

USDA Rural Housing loans are seeing a change to the Guarantee Fee!  Starting October 1st, the upfront fee will reduced from 3.5% to only 2%.  This sounds really good but they are also adding an annual fee of .30%.  Let’s take a look at how this works out over time. Read more »

USDA Rural Housing Loans Delayed

We have been advised by USDA officials that effective 10/1/2011, USDA will not issue final approvals for loans to close.  They have funds to last through the end of the month so any loans that received “conditional commitments” from a local USDA by 9/30/2011 should be fine. Read more »