Get the Financing You Need With Fairway Community Access™
Fairway Community Access™ is a program designed to make homeownership more accessible for first-time homebuyers who live in eligible census tracts in an approved MSA. (See list below.)
With this program, borrowers may be able to receive a $7,000 grant that can be used toward down payment and/or closing costs and does not have to be repaid.*
In addition to the $7,000 grant, the Fairway Community Access™ program also offers additional savings that can help borrowers with the initial costs of homeownership.
Additional program benefits include:
- No income limits
- Temporary buydowns
- Title insurance credit for HomePath loans**
- Appraisal Credit***
- Lender credit for a one-year home warranty****
- Housing Counseling credit from a HUD-approved nonprofit agency (must be completed prior to entering a sales contract)
Eligible MSAs:
- Atlanta-Sandy Springs-Roswell, GA
- Baltimore-Columbia-Towson, MD
- Brownsville-Harlingen, TX
- Chicago-Naperville-Elgin, IL-IN
- Cleveland-Elyria, OH
- Dallas-Fort Worth-Arlington, TX
- Detroit-Warren-Dearborn, MI
- Houston-The Woodlands-Sugar Land, TX
- McAllen-Edinburg-Mission, TX
- Memphis, TN-MS-AR
- Miami-Fort Lauderdale-Pompano Beach, FL
- New York-Newark-Jersey City, NY-NJ-PA
- Oklahoma City, OK
- Orlando-Kissimmee-Sanford, FL
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
- Phoenix-Mesa-Chandler, AZ
- Riverside-San Bernardino-Ontario, CA
- San Antonio-New Braunfels, TX
- St. Louis, MO-IL
- Tampa-St. Petersburg-Clearwater, FL
- Washington-Arlington-Alexandria, DC-VA-MD-WV
Legal Disclaimer
*Eligibility subject to program stipulations, qualifying factors, applicable income and debt-to-income (DTI) restrictions, and property limits. **Borrower will receive up to a $1,000 lender credit for title insurance to be used toward cost of title if property is a Fannie Mae HomePath property when Fannie Mae preferred Title provider is not selected by the borrower. The purchase contract will identify if the loan is a HomePath loan and if Fannie Mae preferred title provider has been selected. May not be redeemed for cash. Loan must close and fund with participating Fairway branch. Offer not available on bond or brokered loans. This offer not valid with any other incentives or discounts. ***Borrower will receive up to a $500 credit toward the cost of the appraisal. Discount will be applied as a lender credit on the final closing disclosure. Participating Fairway branch will credit $500, or the cost of the appraisal, whichever is less. ****If the borrower elects to purchase and personally pay for a home warranty that is not paid for by the seller or broker, lender must provide borrower with a credit for a 1-year home warranty.
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