We had a terrible experience. We received probably almost 10 loan estimates that had incorrect information, including the wrong financing rate, wrong down payment rate, and wrong purchase price.
Then when trying to figure out how to address a problem with our appraisal, our loan officer kept verbally changing how much our monthly payments would be, and could not explain where the money was going to account for the appraisal difference.
I spent hours pouring over the numbers and eventually figured out what should have been a simple explanation.
He never apologized. He and the other staff’s estimates varied by $2 to $80/month different and the money we’d need to close was subsequently all over the place.
It was very unsettling so far into the process to feel like we had no idea what our mortgage payment would be.
I would never recommend Fairway Mortgage and am embarrassed that we didn’t follow our gut and go with a real bank.
Further when I asked about the “We intend to transfer servicing of your loan,” the officer would never answer my questions, and maybe this is because he didn’t have the answers, or maybe he did.
It was totally unprofessional to not answer my questions.
But now we’ve been transferred to a mortgage company (Roundpoint) that gets 1 star reviews online.
I would never, ever recommend Fairway to anyone.
The process was miserable and now who knows what we’ll deal with in Roundpoint.