Fairway Independent Mortgage Corporation is a well-known name in traditional home loans, and it has steadily expanded into the reverse mortgage space. For families helping a parent explore this option, Fairway offers the balance of a large national lender with a reputation for more personalized service than some of the industry’s bigger, flashier players.
Strengths and Weaknesses
Strengths:
- Strong reputation across both traditional and reverse mortgages.
- Local branch presence provides a more personal touch.
- Loan officers praised for patience and clear explanations
Weaknesses:
- Fees are average, not especially low
- Service quality can vary between branches
- Not exclusively focused on reverse mortgages
Compare Reverse Mortgage Companies
Company Background
Founded in 1996, Fairway began as a small mortgage company and has since grown into one of the nation’s top lenders. Reverse mortgages are just one part of its broad portfolio, but the company has invested heavily in building out this division. Unlike some competitors that rely on heavy TV advertising, Fairway has built its reputation more quietly — through word of mouth, local branches, and customer referrals.
The Process with Fairway
The application steps are the same as with other lenders: HUD counseling, application, appraisal, underwriting, and closing. Where Fairway often stands out is in the people side of the process. Families often mention that loan officers take the time to explain details in plain language, ensuring seniors feel at ease.
Closing times are standard, ranging from four to six weeks. While not the fastest in the industry, the process tends to be smoother when families are paired with experienced local representatives. Borrowers in some areas even appreciate the ability to meet face-to-face, a feature not offered by every lender.
Costs and Fees
Fairway’s fees are in line with industry standards, including origination charges, closing costs, and FHA insurance. The company doesn’t stand out as the cheapest lender, but it also doesn’t carry a reputation for excessive charges. Like most lenders, actual costs depend on the loan type and borrower profile, so requesting a detailed quote is essential.
Customer Experience
Fairway receives consistently positive feedback from borrowers, with many highlighting the professionalism and patience of loan officers. The company holds strong ratings with the Better Business Bureau and maintains a reputation for ethical practices.
Some families have noted that, because Fairway is a large national company, service quality can vary depending on the branch and representative. In most cases, though, experiences trend positive, with customers describing the process as supportive and straightforward.
How Fairway Compares
Compared to Liberty or Mutual of Omaha, Fairway often feels more personal thanks to its local branch model. Against Finance of America, it offers a less sales-driven approach, though without the same national advertising footprint. Families who want a lender with both reach and relatability may find Fairway appealing.
Rating Scale
We compared Fairway reverse mortgages against those of the best reverse mortgage companies across four core categories. Here’s how it stacked up.
- Customer Experience: (4.2/5)
- Fees & Costs: (4/5)
- Product Options: (4/5)
- Speed of Process: (4/5)
- Overall Score: (4.1/5)
AssistedKin’s Top 5 Reverse Mortgage Companies
| Recommended For | Lender | Key Strength | Editor's Rating | Next Steps |
|---|---|---|---|---|
| Best for Customer Support | Longbridge Financial | Patient, detailed guidance with no monthly servicing fees | 4.2 | Explore Loan Options |
| Best for Transparency | All Reverse Mortgage (ARLO) | Online calculator and consistently strong customer reviews | 4.4 | Explore Loan Options |
| Best for Trust Factor | Mutual of Omaha | Backed by a century-old brand trusted by millions of households | 4.0 | Explore Loan Options |
| Best for Community Lending | Guild Mortgage | Long history and local branch presence for in-person service | 3.9 | Explore Loan Options |
| Best for Product Options | Finance of America Reverse | Wide range of loans, including jumbo/proprietary reverse mortgages | 4.3 | Explore Loan Options |
Final Thoughts
Fairway Independent Mortgage is a strong choice for families who value approachable, people-first service in a reverse mortgage lender. While not the lowest-cost option or the most specialized, its mix of national reach and local presence makes it a reliable and comfortable option for many seniors.
Frequently Asked Questions
Answers to common questions about Fairway reverse mortgages.
No. Reverse mortgages are part of a broader portfolio that includes traditional home loans.
They’re average compared to other lenders — not the lowest, but reasonable.
Yes. Fairway’s branch network allows many borrowers to meet loan officers face-to-face.
Seniors and families who want the reassurance of working with a large, reputable company but still value a local, personal touch.
