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Fairway Independent Mortgage Corporation Affordable Housing

Statewide, California

Last verified
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Repayment

Grant

Not repaid

What is Fairway Independent Mortgage Corporation Affordable Housing?

Fairway Independent Mortgage Corporation Affordable Housing is a grant for homebuyers in Statewide, California.

  • Affordable housing lending suite — multiple products targeting LMI homebuyers. Pairs with HFA DPA where eligible.
  • Affordable Housing Lending program offering reduced rates, closing cost credits, and DPA pairing for LMI borrowers and properties in underserved areas. Various sub-products.
  • Funding comes from Fairway Independent Mortgage Corporation.

Do you have to pay it back?

Fairway Independent Mortgage Corporation Affordable Housing is structured as a grant, so it is not repaid.

  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Fairway Independent Mortgage Corporation Affordable Housing is open to buyers who will live in the home as their primary residence.

The program requires

  • The home is occupied as a primary residence
  • A completed homebuyer education course, through Required - HUD-approved
  • Sourced via Homebuyer Wallet (US20250001). Suite of LMI/SPCP products. Pairing with state HFA DPA programs available. Verify specific product availability with Fairway loan officer.

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Fairway Independent Mortgage Corporation Affordable Housing sets its income limit as follows: Per Fairway product guidelines (LMI focus).

  • The limit applies to total household income, not only the borrower’s.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Fairway Independent Mortgage Corporation Affordable Housing can be used for Single-family, Condo, Townhouse.

Where does it apply?

Fairway Independent Mortgage Corporation Affordable Housing serves buyers purchasing in Statewide, California.

How do you apply?

Applications for Fairway Independent Mortgage Corporation Affordable Housing go through the administering agency.

  1. Take a homebuyer education course

    Required by the program, through Required - HUD-approved.

  2. Contact the administering agency to reserve funds

    Funds are reserved with the provider and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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