Fairway Independent Mortgage Review
NMLS #2289 · All 50 states
Fairway's calling card is speed. While most reverse mortgages take one to two months to close, Fairway advertises closings in as little as 15 to 17 days on certain products — a remarkable pace in this category and a real advantage when timing matters.
That speed pairs especially well with its dedicated HECM for Purchase team. Using a reverse mortgage to buy a new home (to downsize or move closer to family) is a complex transaction many lenders fumble; Fairway has specialists who handle it well, making it our top pick for purchase scenarios.
With hundreds of branches nationwide, face-to-face service is usually within reach, and Fairway has consistently ranked at or near the top of J.D. Power's mortgage satisfaction studies. It holds a strong reputation overall, with a solid BBB standing.
Pros & cons
Pros
- Among the fastest closings in the industry
- Dedicated HECM for Purchase specialists
- Hundreds of branches for in-person help
- High customer-satisfaction rankings
- Available in all 50 states
Cons
- Decentralized model means experience varies by branch
- BBB rating slightly below top peers
- Fastest timelines apply only to certain products
How Fairway Independent Mortgage scored
The bottom line
The speed champion and the clear leader for HECM for Purchase. If you're buying a new retirement home, start here.