Fairway Home Mortgage Review 2025

Fairway Home Mortgage has been in business since 1996 and is one of the largest mortgage lenders in the country. Its loan options include conventional and government-backed loans, refinancing and physician loans for medical professionals. In addition to offering an online application and digital closings, the company operates branch locations in nearly every state and Washington, D.C.  

Pros and cons of Fairway Home Mortgage 

Affordability: 3.4/5

While Fairway lost some points for not providing rate transparency that would allow us to compare it to other lenders, the benefits of the company’s Community Access program helped it earn 3.4 out of 5 stars for affordability. 

• Interest rates: Fairway doesn’t display current rates online, which makes it tough to compare the company’s borrowing costs to Bankrate's national average mortgage rates.
• Down payment: The company’s Community Access program lets eligible borrowers qualify for up to $7,000 in grant funds to use toward down payment and closing costs. Fairway also offers low-down-payment loans, such as conventional and FHA loans, as well as no-down-payment loans like VA and USDA loans. 
• Fees: Fairway doesn’t list lender fee details on its website. If you contact the company about a mortgage, ask your loan officer for an initial estimate that includes a breakdown of expenses, such as an origination fee, a rate lock fee and other lender charges.
• Closing costs: Fairway’s Community Access program can help eligible borrowers save on closing costs with a $500 appraisal credit and a $1,000 credit on title insurance.

Availability: 5/5

Because of the company’s expansive product portfolio and nationwide branch locations, Fairway Home Mortgage scored a perfect 5 out of 5 stars for availability.

• Home loans offered: Fairway offers a wider range of loan products than many of its competitors. In addition to conventional loans, VA loans and FHA loans, the company offers harder-to-find mortgages, such as physician loans, reverse mortgages and USDA loans.
• Footprint: Fairway is licensed to lend in all 50 states and Washington, D.C.
• Where to find: You can apply for a mortgage online, by phone or in person at one of many branch locations nationwide.

To help you better understand what types of borrowers are interested in this lender, here’s more information about Bankrate users who submitted a form to this lender through our site:

Borrower experience: 3.2/5

Because its website lacks transparency on rates or fees, Fairway Home Mortgage scores 3.2 out of 5 stars for borrower experience.

• Application and preapproval process: To get started on an online application with Fairway, you’ll complete an online form that includes details about how much you’re looking to borrow, how you plan to use the property and your credit score range. You'll need to share your contact information to move further along in the process. Alternatively, you can download the FairwayNow mobile app, which allows you to complete an application in about 10 minutes.
• Transparency: Because Fairway does not share rates and fees on its website, you can’t easily know these costs without sharing your information and talking to a loan officer.
• Customer service: Fairway stands above the competition when it comes to customer service due to the company’s large network of loan officers who can help you with your application. However, if you need help on a weekend, you might be out of luck. The company’s customer service hours are Monday through Friday, from 8:30 a.m. to 5 p.m. CT. Call 866-912-4800 for assistance.

Fairway Home Mortgage scored nearly 20 points above the study average in J.D. Power's latest mortgage origination satisfaction study for 2024. The lender is also accredited by the Better Business Bureau, with an A+ rating and a low number of customer complaints. 

What consumers say about Fairway Home Mortgage

On Bankrate, borrowers have generally positive feedback about Fairway Home Mortgage. Many borrowers mention that mortgage agents were “helpful,” “informative” and “professional,” and that they were supportive of their needs. Comments are mixed on the application process, with some borrowers praising it as easy and smooth, while others noted some issues with clear communication and last-minute challenges with getting loan approval. 

Fairway Home Mortgage in the news

Fairway recently settled with the Consumer Financial Protection Bureau and the Department of Justice over allegations that the company discriminated against Black borrowers in Birmingham, Alabama. The company paid to settle the matter, but it denies the allegations.

Fairway Community Access

If you’re a first-time homeowner trying to buy a home in one of more than 20 major metro areas, you may be eligible for the Fairway Community Access program. The program provides a $7,000 grant that can go toward your down payment and closing costs, along with additional discounts on certain closing costs. You'll need to meet qualifying criteria related to income, debt-to-income (DTI) ratio and property limits, among other factors.

Physician loans 

Fairway offers a loan tailored to medical professionals with medical school debt that may allow them to exclude student loans from their DTI ratio. Doing so can help them get approved for a mortgage.

Fairway Home Mortgage offers rate-and-term and cash-out refinancing options. However, the company’s website doesn’t list typical fees and refinance rates, so you'll need to connect with a loan officer to learn more.

If you want to start a mortgage application with Fairway, the first step is to fill out an online form. A loan officer will then reach out to discuss more about your borrowing needs and mortgage options. If you live near one of Fairway’s branch locations, you can opt to make an in-person appointment. 

Once you’re ready to proceed with an application, you can scan and upload all your documents using the FairwayNow mobile app. You can choose a digital experience throughout much of the application process, too; Fairway says that it has done more than 150,000 digital closings as of March 2024, helping borrowers skip the hassle of signing documents in person.