Fairway

Conventional loans typically require 3–5% down, FHA loans require 3.5% down, and VA loans can offer 0% down for eligible veterans. Your exact requirement depends on loan type, credit score, and property. Fairway Independent Mortgage in Phoenix can run your specific numbers in a free consultation.

Most conventional loans require a minimum credit score of 620, while FHA loans allow scores as low as 580 with 3.5% down. VA loans have no official minimum, though lenders often look for 580–620. Jeremy Schachter’s team at Fairway works with buyers across a range of credit profiles.

A typical purchase loan closes in 21–30 days once under contract, though refinances can sometimes close faster. Timelines depend on how quickly documentation is submitted and the complexity of the loan.

A mortgage banker lends its own funds and services loans directly, while a broker shops multiple lenders on a client’s behalf. Fairway Independent Mortgage operates as both, giving Phoenix-area borrowers access to in-house underwriting speed and broker-level rate shopping.

No — FHA loans are available to repeat buyers as well as first-time buyers, as long as the borrower meets credit, income, and property requirements. FHA loans are popular in Arizona for their low 3.5% down payment.

The branch serves homebuyers and homeowners throughout Phoenix, Scottsdale, Glendale, and Tucson, along with the broader Arizona market, handling the full loan process locally from application to closing.

Yes. Fairway Independent Mortgage Corporation is licensed under AZ License #BK-0904162 and NMLS #2289, holds an A+ Better Business Bureau rating, and has over 600 five-star Google reviews for its Phoenix branch.

Pre-qualification is an informal estimate based on self-reported financial information, while pre-approval involves verified documentation and a stronger commitment from the lender. Buyers with a pre-approval letter are typically taken more seriously by sellers in competitive Arizona markets.