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The USDA recognized Fairway with an award for its work supporting rural homeownership.

Fairway Independent Mortgage Corporation, has been ranked as the number one lender for the Guaranteed Rural Housing program nationally by the United States Department of Agriculture (USDA) for 2020. This is the second year in a row that Fairway has been the top USDA lender in the country. 

Fairway teamed up with the USDA to help 4,629 families and individuals buy homes last year. The USDA recognized Fairway with the top lender award in a virtual ceremony in mid-June. 

“The USDA-guaranteed loan program is a great option for people in rural communities seeking to purchase a home,” said Christy Solar, loan officer and a top USDA loan producer with Fairway. “We value our partnership with the USDA and are honored to have been recognized as the number one USDA lender in the country.”

Home loans guaranteed by the USDA provide affordable financing options for properties located in designated small towns, suburbs and exurbs. The program helps eligible low- to moderate-income families achieve homeownership by offering a no down payment option and lower FICO score requirements. USDA loans also have competitive rates and low closing costs, according to Solar.  “With continued consumer education and outreach, and through our partnership with the USDA, Fairway looks forward to helping more rural low- to moderate-income individuals become homeowners,” she said.

Loan officer Ethan Wilson, co-founder of VA the Fairway said, “It’s really important that people understand the power of an affordable option. Give our team a call and let’s see if this no down payment option works for your family.”

Home loans guaranteed by the United States Department of Agriculture (USDA) provide affordable financing options for properties located in designated small towns, suburbs and exurbs. This program helps eligible low- to moderate-income families achieve homeownership by offering a no down payment option.

USDA Loan Highlights

With flexible requirements, USDA loans feature:

  • 100% financing + required guarantee fee = 102% of the appraised value
  • Low FICO score requirements
  • Low interest rates
  • Low closing costs
  • Gift funds can be used for closing costs
  • 30-year, fixed-rate mortgage

USDA Loan Eligibility

Eligibility is based on the property size, location and condition along with income and other qualifying factors. Some of these requirements include:

  • Property must be located in a USDA designated rural area
  • Maximum loan limits vary based on location
  • Household members can have a total income of up to 115% of the medial income for the area
  • Household must be able to afford the mortgage payment, including property taxes, homeowners insurance and the annual guarantee fee payable on a monthly basis

Interested in a USDA loan, please contact your local Fairway mortgage professional.

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