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BUY A HOME OR REFINANCE YOUR MORTGAGE. EASY.
How Does it Work?
New to This? No Worries. We’ll Guide You Step by Step.
954-800-0330
FIXED &/OR ADJUSTABLE RATE MORTGAGE
RATE: FIXED OR ADJEUSTED BASED ON PROGRAM
FIXED RATE: Interest Rate and monthly payments remain the same for the entire term of the loan. Protection against rising interest rates.
BEST IF YOU: Plan on staying in your home for an extended period of time.
ADJUSTABLE RATE: Homeowner could potentially lower their monthly payments with the lowered interest rates. Initial interest rate is fixed typically for 3-10 years.
BEST IF YOU: Plan on selling or refinancing within a few years.
DIVORCE MORTGAGE PLANNING
CUSTOM PLANNING
Selling a house amid a divorce can make an already-complicated situation even more complex. The need to manage a real estate transaction while also managing your interpersonal conflict is stressful, but sometimes financially necessary.
BEST IF YOU: Own property and are experiencing divorce or plan to purchase in the future
REVERSE MORTGAGE
RATE: FIXED OR ADJUSTABLE
Withdraw a portion of your home’s equity. Paying monthly mortgage payment is optional (must continue paying taxes, insurance & maintenance payments) Purchase a home that better suits your needs.
BEST IF YOU: Are 62 or better and want to turn your home equity into tax-free** cash without having to make monthly mortgage payments. (must continue to pay taxes and insurance and maintain the home)
Let's Crush this Homeownership Thing.
*Appraised property value may affect loan amount.
**The cash from equity is usually tax free. This information does not constitute tax advice or financial planning advice. Please consult a tax advisor for tax advice and a financial planner regarding enhancements to retirement plans. Fairway is not affiliated with any government agencies. These materials are not from HUD or FHA and were not approved by HUD or a government agency. Reverse mortgage borrowers are required to obtain an eligibility certificate by receiving counseling sessions with a HUD-approved agency. Must be at least 62 years old. Loan proceeds are not considered income and will not affect Social Security or Medicare benefits. Your monthly reverse mortgage advances may affect your eligibility for some other programs. Consult a local program office or your attorney to determine how, or if, monthly reverse mortgage payments might affect your specific situation. At the conclusion of the term of the reverse mortgage loan contract, some or all of the equity in the property that is the subject of the reverse mortgage no longer belongs to you and you may need to sell or transfer the property to repay the proceeds of the reverse mortgage with interest from your assets. We will charge an origination fee, a mortgage insurance premium, closing costs or servicing fees for the reverse mortgage, all or any of which we will add to the balance of the reverse mortgage loan. The balance of the reverse mortgage loan grows over time and interest will be charged on the outstanding loan balance. You retain title to the property that is the subject of the reverse mortgage until you sell or transfer the property and you are therefore responsible for paying property taxes, insurance, and maintenance. Failing to pay these amounts may cause the reverse mortgage loan to become due immediately. Interest on reverse mortgage is not deductible to your income tax return until you repay all or part of the reverse mortgage loan.