Putting Our Money where our Mouth Is

Before a client goes out and looks at their first house they need a pre-approval, especially in this competitive market where deals move quickly. 

Fairway has always offered a pre-approval that is a guarantee of a closing due to our complete, thorough, 360 degree evaluation of the applicant’s financing ability.  (For info on a pre-approval vs. pre-qualification letter, click here).

We review all income and asset documentation to ensure that we have a complete financial snapshot and have not overlooked anything that could potentially derail a transaction further down the road. 

Ninety percent of our loans are underwritten in house, with more complicated transactions getting a full underwriter review.  In short, we will not issue a pre-approval without fully evaluating all aspects of the transaction.

(If the property is a condo we will review the condo details to ensure that the property meets all secondary market guidelines).

Now -we are strengthening that guarantee even more by “Putting our money where our mouth is!” A pre-Approval letter from us is a guarantee of a closing-or we will reimburse up to $5,000 in related costs!

Certified Pre-Approval Guarantee: Closing Loans On Time, Under Budget,
With No Surprises

Fairway will issue and guarantee the accuracy of “Fairway Certified” pre-approvals as long as:

• The borrowers personal financial qualifications
  stay the same or improve[1]
• The agreed upon loan parameters stay the same or
  improve[2]
• The property meets all necessary loan
  requirements[3]

If we are wrong we will:

• Reimburse documented short-term moving,
  relocating and/or storage expenses up to a maximum of $1500
• Reimburse any documented lost home inspection or
  appraisal expenses up to $1000
• Reimburse any forfeited earnest money expenses
  up to $5,000

Before you get started, check out our handy document check-list here.  Our complete Promise to the real estate community print document, including the Fairway –Certified pre-approval, can be found here.

A “Fairway-Certified” pre-approval is easy -just call or email us to
get started-781-719-4664

[1] “Personal financial qualifications” includes but is not limited to employment, income, assets, credit scores, and debt.

[2] “Agreed upon loan parameters” includes, but is not limited to maximum loan amount, maximum total monthly payment, maximum interest rate, interest rate market conditions, down payment requirements, property insurance requirements and mortgage insurance requirements.

[3] “Necessary loan requirements” of the property includes but is not limited to, appraised value, insurability, property condition, inspection condition, legal title conditions, HOA conditions and housing project conditions.