Common questions about special, answered by Mike Swaleh.
Can I buy a house before I sell my current one?
There are several routes: a bridge product, a HELOC on your current home, a contingent offer, or qualifying while carrying both payments. Each has different costs and different risks, and which is realistic depends on your equity and your income. This is exactly the kind of thing worth mapping out with Mike before you list or offer.
Can I buy a home from a family member?
Yes, and there is a useful tool there – a gift of equity, where a family member sells below market value and gifts the difference, which can serve as your down payment. Non-arm's-length transactions do carry extra documentation requirements. Very worth a conversation with Mike.
Can someone co-sign for me?
Many programs allow a non-occupant co-borrower, with rules that vary by program on how their income and credit are treated. It is a real option and it is not a last resort. Mike can tell you what your program allows.
What if I am new to the country or have an ITIN?
Options exist. Different programs treat residency status and documentation differently, and there are ITIN programs as well. Mike can tell you which routes are open for your situation.
I am behind on my mortgage – what are my options?
That is a stressful place to be, and it is not something to settle in a chat window – it needs a real conversation with somebody who can look at your specific loan. If your loan is serviced by Fairway, their customer service team is on 877-699-0353. The real Mike's team can be reached with the details on this page.
I have a complaint about my loan.
That should go to a person rather than into a chat window. Fairway customer service is 877-699-0353 or customerservice@fairwaymc.com, and they are the right people for anything about an existing loan. Nothing said here is flagged, escalated or forwarded to anybody, so it is worth contacting them directly. The real Mike's team can be reached with the details on this page.
Mike Swaleh, Area Manager · NMLS #739145 · Fairway Independent Mortgage Corporation, NMLS Entity ID #2289
436 Lincoln Boulevard, Suite 105, Lincoln, CA 95648 · mswaleh@fairwaymc.com · Licensed in AZ, CA, CO, FL, GA, IL, KY, MO, NV, NC, OR, SC, TN, TX, WA
This information is not intended to be an indication of loan qualification, loan approval or a commitment to lend. Other limitations may apply. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all dollar amounts. Fairway is not affiliated with any government agencies. Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act, License No 41DBO-78367.
Equal Housing Opportunity. Verify licensing at nmlsconsumeraccess.org
