Construction Loans

Available for primary residence occupancy only.
Down payment of 3.5% can be gifted by family.
Maximum loan limits apply and vary by state and county.
Monthly mortgage insurance (MIP) and upfront premium of 1.75% of the home loan are required.
Borrowers must have a property appraisal from an FHA-approved appraiser.
Closing costs up to 6% can be paid by the seller, builder or lender.
Higher debt-to-income ratios permitted, maximum of 45%.

3.5 ^%

minimum down payment

6 ^%

maximum seller concessions

0

income limits

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CORPORATE CONTACT

Madison Headquarters Location

4750 S. Biltmore Lane, Madison, WI 53718

COMPLAINT AND LICENSING INFO

Corporate NMLS:2289 | NMLS Consumer Access | Security & Privacy | Legal Disclosures | Licensing | Texas Consumer Complaints | IL Community Reinvestment Notice

Complaints may be directed to Fairway Independent Mortgage Corporation NMLS #2289 at 877-699-0353 or a message may be sent using the contact form here