Homeownership Hub

Homeownership Hub is an all-inclusive resource with content to assist in the home-buying process. Navigate all phases of the homeownership journey with trusted tips, strategies and resources. It’s your one-stop shop for information related to home buying or owning the home of your dreams.

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The Rising Appeal of New Construction Mortgages: A Smart Move in a Low Inventory Housing Market

Looking to buy a home but frustrated by low housing inventory? A new construction mortgage could be the perfect solution.

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Fairway Mortgage Helps Storm Victim

Nicole Richert is a Fairway loan officer whose house was destroyed by a tree during a huge storm in Houston in May of 2024. After learning she had made a mistake and had inadvertently let her insurance lapse, Nicole had no idea where to turn. Then her employer Fairway heard about her plight.

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Rate Buydowns Help with Affordability, but a Wide Portfolio of Mortgage Options Is the Ultimate Tool

A conversation with Fairway Branch Manager Paige Bowman on when an interest rate buydown works best, and how she starts the conversation with prospective buyers and Realtors®.

This Mortgage Program Empowers Renters To Become Homeowners — With an Extra Green Incentive

Renters can get up to $13K toward homeownership with HOPER’s incentive program combined with an FHA solar loan. Save on utilities, earn cash, and build equity—with little to no money out of pocket in many cases.

February 28, 2025

Should You Choose a 40-Year Mortgage? Pros, Cons and Savings Potential

Considering a 40-year mortgage? This extended loan term can lower your monthly payments, improve affordability, and offer more financial flexibility. But it comes at a cost. Is a 40-year term the right choice for you?

January 27, 2025

What Are Non-QM Home Loans, and Who Are They For?

Non-QM (Non-Qualified Mortgage) loans are flexible mortgage options designed for borrowers who may not meet traditional lending criteria, such as self-employed individuals or those with more unique income streams.

Fairway Mortgage Helps Storm Victim

Nicole Richert is a Fairway loan officer whose house was destroyed by a tree during a huge storm in Houston in May of 2024. After learning she had made a mistake and had inadvertently let her insurance lapse, Nicole had no idea where to turn. Then her employer Fairway heard about her plight.

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Why Waiting for Lower Interest Rates Isn't the Big Money Saver You Think It Is

Sitting out of the housing market and waiting for rates to go down may save you some money in the short term, but getting into the market as soon as it is financially feasible nets maximum value.

FHA Loan Limits Updated for 2025 to $524,225; Up to $1,209,750 in High-Cost Areas

FHA Loan Limit Increase: The Federal Housing Authority (FHA) announced new loan limit ranges for 2024. The new baseline is $498,257.

The Conforming Loan Limit Increased to $806,500 for 2025. What Does That Mean for Homebuyers?

Conforming Loan Limit Increase: The Federal Housing Finance Agency (FHFA) announced the new conforming loan limit for 2025: $806,500.

Why Finding a Real Estate Agent Who Knows VA Loans Matters

VA loans come with unique advantages and requirements. Finding a real estate agent that understands this mortgage can make home buying easier.

VA Certificate of Eligibility (COE): Where to Find It and Why You Need It to Buy a Home With a VA Loan

Your VA certificate of eligibility (COE) is what lenders use to determine your eligibility for a VA home loan.

14 Home-Buying Myths Your Parents Told You, Debunked

Competing the housing market is hard enough without outdated advice. We're debunking home-buying myths your parents may have told you.

8 Types of Income You Can Use to Buy a Home

What types of income can you use to buy a home? Here are eight income sources and what documents you'll need to secure a home loan.

Home-Buying Stress: 6 Ways To Maintain Your Mental Health While Hunting for a Home

Buying a house can be mentally exhausting, especially in today's crazy market. Experts share six ways to handle home-buying stress.

VA Home Loan Pre-approval: Don't Shop for Homes Without It

Going through the VA home loan pre-approval process can put eligible veterans and active servicemembers on a path to homeownership.

VA vs. Conventional Loan: Which Mortgage Is Right for You?

Our guide helps you understand how a VA loan stacks up against a Conventional loan.

VA Home Loan Property Requirements: A-to-Z Guide

From attics to zoning, VA home loan property requirements (MPRs) are important for protecting military homebuyers and their home purchases.

Home Inspection Checklist: What To Look for When Buying a House

Use this home inspection checklist to understand what inspectors look for.

VA Home Loan Credit Score Requirements Explained

VA home loan credit score requirements are less intimidating than you might think, because the VA wants to make these 0% down mortgages accessible to as many eligible veterans and active-duty servicemembers as possible.

What Does a Federal Reserve Rate Cut Actually Mean for Your Mortgage?

Though the Fed doesn’t control the actual rates you may be offered by lenders, (including mortgage lenders) their adjustments to what is known as the benchmark rate can coincide with similar movement in mortgage rates.

Can I Get Financial Assistance to Buy a Home?

There are many ways to get financial assistance to buy a home. Cities, states, and non-profits offer programs to help buyers based on need.

Second Home Mortgage Requirements: What To Know Before Buying That Dream Vacation Home

Second home mortgage requirements are different from those for your primary home. Learn the ins and outs before you start looking for that perfect getaway.

What Is an Appraisal? Everything You Need To Know

What is an appraisal? This crucial step in the home-buying process can make or break your sale. Here's what you need to know about it.

Why Buying a Fixer-upper as Your First Home Is a Great Way To Break into the Market

Buying a fixer-upper can help you find an affordable property and make it your own — and a renovation loan can help make it happen.

How To Get a Loan For a Shipping Container Home

There's more than one way to get a loan for a shipping container home. Here are some of your options for financing this unique and affordable type of home.

First-Time Homebuyer Quick-Start Guide

If you're a first time homebuyer, congratulate yourself. Here's a step-by-step task list for getting to the finish line on your first home purchase.

Many First-Time Homebuyers Could Use a Hand: Will an ARM Suffice?

When first-time homebuyers face affordability challenges in the marketplace, can an adjustable-rate mortgage help them achieve homeownership?

Hard Inquiry vs. Soft Inquiry — What's the Difference?

Knowing the difference between a hard inquiry vs soft inquiry can help you maintain a good credit score. Here's what you need to know.

Raising Your Credit Score Can Save Thousands in Interest — Here's Why

In some cases, raising your credit score just a few points can improve your mortgage rate and save you thousands of dollars. See why that is.

What Is Escrow?

Escrow accounts are put into place on your behalf to help you manage some of the expenses that come along with homeownership.

What Credit Score Is Needed for a Mortgage?

See what credit score is needed for a mortgage and how the minimum credit score requirements vary by borrower, loan program and lender.

Are There Different Types of Credit Scores? Yes. Here's What You Should Know.

You have different types of credit scores. Find out which credit scores mortgage lenders use and how they are calculated before shopping for a home loan.

What Debt-to-Income Ratio Do You Need for a Mortgage?

The debt-to-income ratio needed for a mortgage depends on the type of loan you plan to use. Find out what affects your debt-to-income ratio and how to improve it.

Investment Property Mortgage Rates: What Should You Expect To Pay?

Investment property mortgage rates are often higher than rates on home loans for primary residences. See how these rates work and how to improve your rate.

How an Interest Rate Buydown Can Make Your Mortgage More Affordable

A temporary interest rate buydown on your mortgage is a temporary reduction in your rate and payment. It could make homebuying more affordable.

Unlock the Future: Home Price Growth Forecasts for 2024 and What They Mean for Homebuyers

Home prices usually appreciate over time, but what are the experts saying about home value growth going into 2024?

How To Apply For a VA Home Loan

For today's homebuyer, it's easy to apply for a VA home loan. You can apply in just 15 minutes and need nothing on-hand to get started.

How To Apply For an FHA Home Loan

Understanding how to apply for an FHA loan will get you that much closer to qualifying for a low down payment mortgage.

FHA Loan Limits Updated for 2024 to $498,257; Up to $1,149,825 in High-Cost Areas

FHA Loan Limit Increase: The Federal Housing Authority (FHA) announced new loan limit ranges for 2024. The new baseline is $498,257.

The Conforming Loan Limit Increased to $766,550 for 2024. What Does That Mean for Homebuyers?

Conforming Loan Limit Increase: The Federal Housing Finance Agency (FHFA) announced the new conforming loan limit for 2024: $766,550.

The Best Holiday Gifts for the New Homeowners in Your Life

Holiday gift ideas for homeowners: Fairway has some of the best Christmas and holiday gift ideas for the new homeowners in your life.

What Makes a Condo Warrantable vs. Non-Warrantable?

Condo home loans: Fairway has mortgage options if you are buying a warrantable condo, or even a non-warrantable condo. But what's the difference?

Separating Myth From Fact in the Renovation Home Loan Process

Renovation home loans: Fairway aims to cut through the noise, myths and misconceptions surrounding renovation mortgage loans. Here are eight common renovation home loan myths debunked.

Can you buy a house after bankruptcy?

You can buy a house after bankruptcy, though you may need to wait a certain period of time before you can qualify for a home loan.

What’s the Difference Between Modular and Manufactured Homes?

The difference between modular and manufactured homes largely comes down to how and where they’re constructed, which can affect the types of loans you can use to purchase them.

What Is Remote Online Notarization (RON) When Buying a House?

Remote online notarization allows homebuyers to close on their homes virtually, making the home-buying process easier and more accessible.

How eClosings Simplify Home Mortgages for Homebuyers

eClosings simplify home mortgages for homebuyers. They improve the home-buying process and make it more convenient for homebuyers.

18 Basic Financial Literacy Terms Everyone Should Know

Understanding basic financial literacy terms can help you make smart decisions along your wealth creation journey.

How to Get Free Land to Build a Home

Knowing how to get free land to build a home is important to potential homeowners. Free land programs offer affordable ways to claim a piece of the American dream while revitalizing small towns.

How a Smart House Hacking Strategy Can Jump-Start Your Real Estate Journey

A savvy house hacking strategy can be lucrative in both the short and long terms.

Can You Buy a Car Before Buying a House?

Can you buy a car before buying a house? Generally speaking, it’s not a good idea. Find out how buying a car before buying a house can hurt your homeownership goals.

Is Buying a Home Without an Inspection Ever a Good Idea?

Buying a home without an inspection is a risky move for homebuyers. Learn how to stay competitive without sacrificing a home inspection.

How to Buy a Pre-foreclosure Home

Knowing how to buy a pre-foreclosure home gives you one more potential strategy for buying an affordable home in a crowded market.

Is Buying a House with Student Loans in Default Possible?

Buying a house with student loans in default can be done, but you’ll likely need to deal with the default first.

What Is Home Equity?

Wondering what home equity is? We explain what it is and how it can help you build wealth.

Love Your Apartment but Want To Own A Home? Consider the Benefits of Buying a Condo

There are many benefits of buying a condo, including ease and affordability while building equity in the property.

What Are HOA Fees and What Do They Pay For?

HOA fees can include the cost of lawn care, maintenance and security in homeowner association communities.

How to Start Urban Homesteading When You Live in a City

Urban homesteading allows you to live a sustainable, eco-friendly lifestyle wherever you call home.

A Cash-out Refinance Loan Puts Your Home Equity to Work For You

A cash-out refinance loan allows you to borrow against your home equity to pursue other financial goals.

Pros and Cons of Buying a Condo

Understand the pros and cons of buying a condo before you decide which type of home is right for you.

Key to Wealth Creation Is Homeownership

We break down how and why wealth creation is so closely tied to homeownership in the U.S.

How To Ask for Cash for Wedding Gifts When You’re Trying to Buy a Home

These tips on how to ask for cash for wedding gifts will help you communicate tactfully with loved ones as you ask for their help toward buying a home.

Basics of Property Tax Exemptions

Understanding the basics of property tax exemptions will help some homeowners save money each year.

What Is the VA Funding Fee and How Much Will You Pay?

The VA funding fee applies to every VA loan you take out, though you may be exempt if you have a qualifying service-related disability.

How To Increase Black Homeownership in the U.S.

A mortgage industry veteran offers her take on how to increase black homeownership in the U.S.

Can you buy manufactured homes with USDA loans?

Can you buy manufactured homes with USDA loans? See if you meet the USDA’s eligibility guidelines for this zero-down loan option.

How To Build Credit To Buy a House

Learning how to build credit to buy a house is a key step toward becoming a homeowner.

How Long is an Appraisal Good For?

Knowing how long an appraisal is good for can help you strategize your homebuying or refinance plans.

Is Your New Year’s Resolution to Buy a Home in 2023? Reach Your Goals the SMART Way!

If your New Year’s resolution is to become a homeowner, these social media influencers have some can’t-miss tips for you on how to do it.

The Best Gifts for New Homeowners This Holiday Season

The holidays are a great time to help new homeowners with thoughtful gifts, but the best gifts for new homeowners may not be what you think.

Is Now a Good Time to Buy a Home? Yes – It May Be the Best You’ll See for the Next Three Years

To homebuyers asking “Is now a good time to buy a home?,” the answer is a resounding yes, according to mortgage industry expert Dave Stevens.

Three Questions to Ask a Real Estate Agent When Deciding Who Will Help You Buy Your Home

These three questions to ask a real estate agent will help you find the right fit and can make your home-buying experience that much more rewarding.

How to Avoid Overspending and Keep Saving for a House During the Holidays

If you learn how to avoid overspending during the holidays, you’ll set yourself up for a very festive season and home-buying success in the new year.

3 Reasons Hispanic Homeownership Is on the Rise in the U.S.

Hispanic homeownership rates increased in recent years, driven by strong cultural values and a willingness to move to where affordable houses are.

How to Save Money During the Holidays as a New Homeowner

As a new homeowner, knowing how to save money during the holidays can make the season a lot less stressful – and a lot more festive.

Can You Buy a Manufactured Home With a VA Loan?

You can buy a manufactured home with a VA loan. But it's important to understand the full picture before you pursue this option. Here's what you need to know.

5 Ways to Have a Simple Thanksgiving This Year Without Sacrificing Tradition

If you've recently moved into a new home, preparing a Thanksgiving feast may prove challenging. Here are 5 steps to a simple Thanksgiving.

Help Buying a House for an Adult Child with a Disability

Need help buying a house for an adult child with a disability? There are a number of affordable options available.

Self-Employed Mortgage: How to Qualify for a Home Loan When You Work for Yourself

A self-employed mortgage works the same as any other home loan. The key to qualifying is carefully documenting your income and working with a loan officer who knows how to help self-employed folks.

Florida Real Estate Climate Change Concerns: What to Look for Before You Buy a Home in the Sunshine State

Fears about Florida real estate climate change shouldn’t stop your homebuying plans. These strategies will help you keep your new home secure.

USDA Loan Closing Costs: How Much You’ll Pay and How to Lower Your Upfront Fees

You may be able to avoid paying USDA loan closing costs upfront if your home appraises for more than the sale price.

How to Decide Where to Live

Knowing how to decide where to live can be overwhelming when you have a lot of options. These tips will make the process easier.

Fairway Cash Guarantee™ Helps Homebuyers Beat Cash Offers

The Fairway Cash Guarantee™ gives homebuyers an edge in competitive markets, even when they're up against investors and all-cash offers.

Florida Hometown Heroes Housing Program Offers Eligible First-Time Homebuyers Up to $25,000 in Assistance

The Florida Hometown Heroes Housing Program provides up to $25,000 in assistance to help homebuyers in eligible professions purchase a home.

Should Sellers Accept VA Offers? Yes. Here Are Five Reasons Why

Here's why sellers should accept VA offers, even in today's competitive market.

Uptick in FHA Loans Is an Encouraging Sign for FirstTime Homebuyers

An uptick in FHA purchase loans is a welcome sign for first-time homebuyers trying to break into a competitive housing market. Here's why.

Freddie Mac BorrowSmart℠ Program: Up to $2,500 in Closing Assistance

The Freddie Mac BorrowSmart program provides low- and moderate-income first-time homebuyers with cash for their down payment and closing costs.

Jumbo vs Conventional Loans: What's the Difference?

We put jumbo vs conventional loans head-to-head to show the pros and cons of each.

FHA-Approved Condos: How to Find Them And Why Not All HOAs Have It

Finding FHA-approved condos can be tricky, especially since not all HOAs want FHA approval. Use these expert tips to navigate the market.

PMI on a Conventional Loan: Your Questions Answered

Paying for PMI on a conventional loan is common. We'll show you how private mortgage insurance works and how to minimize payments.

Conventional Loan Mortgage Rates: Are They Rising In 2022?

Conventional loan mortgage rates fluctuate constantly based on a number of factors. Understand these factors to get a competitive rate.

What's the Minimum Credit Score For a Conventional Loan?

See what the minimum credit score is for a conventional loan and how to raise your score if you fall below it.

HomeOne® Mortgage 3 Percent Down No Income Limits or Geographic Restrictions

The HomeOne mortgage offers 3% down without the restrictions found in many other low down payment first time buyer programs.

Could a Reverse Mortgage Loan Protect Your Retirement Savings From Inflation?

Could a reverse mortgage prolong retirement savings? Here's how this loan can help seniors and retirees living on fixed income hedge against inflation.

I Didn't Hold Out To Buy My Dream House: Here's Why You Shouldn't Wait to Buy a Home Either

Fairway's Corey Freels uses his personal experience to show why you shouldn't wait to buy a home, even if the market is peaking.

25 Markets With Huge Inventory Gains in May

With demand softening, housing supply is beginning to recover. Here are the 25 markets with the fastest inventory growth in May 2022.

What To Do If You Hate Your House 4 Ways to Make the Most of Your Home Purchase

Given the hot market, homebuyers are making decisions faster than ever, and some feel remorse . Here's what to do if you hate your house.

Fannie Mae HomeReady® Loan: Your Ticket to Homeownership

The Fannie Mae HomeReady loan is full of features to help low-income borrowers achieve homeownership.

Why a Reverse Mortgage Loan Should Be in Your Retirement Plan

A reverse mortgage is no longer a last resort option for retirees. Experts explain how it can be a valuable source of retirement income.

The 10 Most Affordable Small and Large Metros

Rising home prices and mortgage rates have eroded affordability nationwide, but these metros are the nation's most affordable.

65+ Places Remote Workers Can Earn Thousands in Paid Relocation Incentives [With Map]

Cities across the country are offering paid relocation for remote workers. Here's how it works and a map of 65+ places with programs.

Can You Buy a House With Cardano Using Cryptocurrency To Achieve Homeownership

Can you buy a house with the cryptocurrency Cardano (ADA)? Yes, but first you'll have to turn that crypto into cash. Here's how.

HomeReady Loan Your Ticket to Homeownership

The HomeReady loan offers lower PMI, lower rates, and easier qualification than standard conventional loans.

How to Refinance Your Home: When to Do It and What Your Options Are

Use this guide to understand when and how to refinance your home. Content includes loan options, general requirements, and finding your 'break-even point.'

Housing Inventory Makes Huge One Week Jump As Demand Cools

The supply of single-family homes jumped 8.2% week-over-week as higher mortgage rates cool demand. Here's what that means for homebuyers.

Mortgage Credit Certificate: A Tax Break and a Helping Hand for Low-Income Homebuyers

A mortgage credit certificate (MCC) is a tax credit for first-time homebuyers that is typically worth around $2,000. Here's how to get one.