Loan Program Options
Super Simple 3 Step Process
Conventional Loans
Conventional mortgages are the most common type of home loan. These loans are typically the cheapest and have the most favorable mortgage insurance terms (compared to FHA) – but all based off of risk. The higher the credit score, the more down and the lower the debt to income ratios - the better the terms.
Min down is 3%
620 FICO score or higher
FHA Loans
FHA loans are government-backed and designed to make homeownership easier with a little bit easier guidliens and typically lower rates (to offset the extra mortgage insurance cost when compared to conventional financing).
Min down is 3.5%
580+ credit score (over 600 preferred)
Jumbo Loans
For high-value homes above conforming loan limits, jumbo loans provide the financing you need with competitive rates and flexible structures. Ideal for luxury homes and buyers in higher-cost markets.
First-Time Home Buyer Programs
Special mortgage programs created to help first-time home buyers qualify for a home loan with low down payments, flexible credit requirements, and added support throughout the buying process.
Grants & Down Payment Assistance
We partner with local and national programs that provide grants or down payment assistance—helping you cover upfront costs and make homeownership more affordable.
Renovation Loans
Finance your home purchase and the cost of improvements all in one mortgage. Renovation loans are perfect if you want to customize a fixer-upper or add value to your home right away.
Buy Before You Sell Program
Our Buy Before You Sell program gives you the power to purchase your next home without waiting to sell your current one—removing stress and giving you more negotiating strength.
Make a non-contingent offer before selling
Tap into your current equity at 0%
120 days to sell after buying new home
Cash Guarantee Program
Stand out in competitive markets with our Cash Guarantee program. It makes your offer as strong as cash, helping you win the home you want—even against multiple bids.
Self-Employed Programs
Tailored mortgage solutions for business owners, freelancers, and entrepreneurs. We use bank statements, cash flow, and alternative documentation to help you qualify without traditional W-2 income.
Investor Loans
Flexible mortgage options for real estate investors looking to purchase rental properties, vacation homes, or expand their portfolio. Designed to maximize cash flow and long-term return.
Mortgage Loan FAQs
What is the difference between FHA and Conventional Loans?
FHA loans are government-backed and allow for lower credit scores and smaller down payments, making them great for first-time buyers. Conventional loans, on the other hand, typically require stronger credit but may offer lower long-term costs and more flexibility.
Do I need a large down payment to buy a home?
Not at all. Many loan programs allow down payments as low as 3%–3.5%. Plus, grants and down payment assistance programs can help reduce or even eliminate the amount you need to bring to closing.
Question 3: When can I lorem ipsum when I buy?
A jumbo loan is any mortgage amount above the conforming loan limit set by Fannie Mae and Freddie Mac. These loans are designed for higher-priced homes and usually require stronger credit and income documentation.
Are there programs specifically for first-time home buyers?
Yes! First-time home buyer programs offer reduced down payments, flexible credit requirements, and even grants or assistance programs to make the process more affordable.
Can I get a mortgage if I’m self-employed?
Absolutely. Self-employed borrowers can qualify using alternative documentation like bank statements or cash flow records instead of traditional W-2 income. These programs are designed for entrepreneurs, freelancers, and business owners.
What is a Renovation Loan?
A renovation loan lets you finance both the purchase of a home and the cost of upgrades or repairs in one mortgage. It’s ideal if you’re buying a fixer-upper or want to customize your home right away.
What if I need to buy a new home before selling my current one?
Our Buy Before You Sell program allows you to purchase your new home first, giving you more negotiating power and less stress while selling your current property.
How does the Cash Guarantee Program work?
This program makes your offer stand out by presenting it as strong as a cash offer—helping you compete and win in multiple-offer situations. We require you to go through a full underwriting process upfront.
Do I need perfect credit to qualify for a home loan?
No. While stronger credit can unlock better rates, there are many loan programs for buyers with lower credit scores. The best way to find out is through a quick consultation to explore your options—no full credit pull required to start.
How long does it take to get pre-approved?
Getting pre-approved can be fast and simple. With the right documents, many clients receive pre-approval within 24 hours. A free 15-minute consultation is the first step to see what you qualify for.
Contact Me:
Fairway Independent Mortgage Corporation NMLS Entity ID #2289
Nick Ferrante
Certified Mortgage & Liability Advisor
NMLS #1110570
261 N York Road, Suite 201
Elmhurst, IL 60126
Phone: (630) 465-2656
Copyright ©2025 Fairway Independent Mortgage Corporation. NMLS #2289. 4750 S. Biltmore Lane, Madison, WI 53718, 1-866-912-4800. All rights reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply.
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, License No 41DBO-78367. Licensed by the Department of Business Oversight under the California Finance Lenders Law, NMLS #2289. Loans made or arranged pursuant to a California Residential Mortgage Lending Act License.
Illinois Residential Mortgage Licensee
For licensing information, go to: www.nmlsconsumeraccess.org