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Fairway Independent is a nationwide lender that offers all the major reverse mortgage products such as HECM reverse mortgage loans, jumbo loans, HECM for purchase, and reverse mortgage refinancing. It also offers conventional loan products. Fairway has very high customer service ratings.
Since Fairway is offered in all 50 states, it is a reverse mortgage lender that is available to potential reverse mortgage borrowers across the country. If customer service is a top priority, the Fairway is a lender worth looking into. Other nationwide lenders include Finance of America, Liberty Mortgage, and Mutual of Omaha Mortgage.
A Reverse Mortgage is also known as a Home Equity Conversion Mortgage (HECM). It is a financial tool available to seniors who are at least 62 years of age. It allows them to cash-in on the equity in their homes without having to sell their home. A reverse mortgage pays off the current traditional mortgage, if there is one. This is how a reverse mortgage eliminates monthly mortgage payments. Reverse mortgage customers then have the option of receiving the loan proceeds as monthly payments, a lump sum, and/or a line of credit. Reverse Mortgage can also be used to purchase a new home. This is known as a HECM for Purchase. Those who obtain a reverse mortgage are still required to stay current on property taxes, homeowner’s insurance, and any necessary maintenance costs. Read more about Reverse Mortgages here.
A+ Rating from the BBB
Available in 50 States
In Business 27 Years
High customer service ratings on third-party websites
No Mobile App for reverse mortgage customers
|Customer Review Platform||Ratings|
|Better Business Bureau (BBB)||A+ Rating; 4.9/5 Stars with 1,683 Reviews|
|Experience.com||4.9/5 stars with 496,815 Reviews|
|WalletHub||5/5 Stars with 4,484 Reviews|
|Zillow||4.9/5 Stars with 34,067 Reviews|
Fairway Independent Mortgage Corporation is a national mortgage lender that brings 27 years of experience to the reverse mortgage industry. It has headquarters in Madison, Wisconsin and Carrollton, Texas, but it originates loans in all 50 states.
It has some of the highest customer review ratings on third-party review websites with an average rating of 4.95.
Fairway offers the following reverse mortgage products:
Besides the reverse mortgage products, Fairway Independent also offers traditional conventional mortgage products adjustable-rate mortgages, FHA mortgages, fixed rate mortgages, and mortgage refinance loans.
If you decide to apply for a reverse mortgage with Fairway, this is the general reverse mortgage process that you can expect:
Customers are allowed to cancel their reverse mortgage at any time during the application process including within the three-day waiting period after the closing documents are signed.
Fairway Independent Mortgage opened its doors in 1996. It has been in business for 27 years. We give reverse mortgage lenders that have been in business for at least 20 years top scores because we think it’s important for customers to feel confident that their lender will continue to be around when they need them. It also shows that they are able to withstand the ups and downs of the market.
Fairway has an A+ Rating from the Better Business Bureau (BBB), which is the highest rating a company can receive from the business evaluation company.
We include Better Business Bureau (BBB) accreditation ratings when we evaluate companies because it holds significant value due to its stringent application process and ongoing monitoring. The BBB is renowned for establishing a credibility benchmark unmatched by any other business rating service, making it a highly trusted resource for buyers seeking reassurance about the companies they engage with.
Companies can receive a high rating from the BBB, but the customer ratings on the platform can still be low. But in the case of Fairway, it has a 4.96 out of 5 Stars with more than 2,000 customer reviews.
Fairway customer service is available Monday through Friday from 8:30 AM to 5 PM CST. The top reverse mortgage companies have 24/7 availability to serve their customers, or they have hours on the weekend when they can be reached by phone.
Fairway Independent Mortgage is licensed to originate HECM reverse mortgage loans in all 50 states and the District of Columbia. Learn more about its state licensing information by going here.
Fairway has a mobile app to serve its forward mortgage customers called the FairwayNow App, but it does not have an app to serve its reverse mortgage customers.
If you’ve received a reverse mortgage from Fairway, we would love to hear about it! Please leave a review below.
Reverse Mortgage companies are evaluated based on six factors that we believe are important for consumers: years in business, number of products offered, customer service availability, state licensing footprint, Better Business Bureau (BBB) Ratings, and the inclusion and functionality of a mobile application. Please find a full description of our ratings system here.
This information is intended to be general and educational in nature and should not be construed as financial advice. Consult your financial advisor before implementing financial strategies for your retirement.
Last Updated: 9/1/23
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