Fairway Funding Group Mortgage Rates, Fees & Info
Sarasota, FLLEI: 549300S19BPWGHQOYU13
Tax ID: 65-1038507
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Mortgage Data
Review & Overview
Fairway Funding Group is a smaller mortgage company specializing in Home Purchase loans. Fairway Funding Group has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: North Port, Tampa, Cape Coral, Miami, and Punta Gorda among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)Fairway Funding Group has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Fairway Funding Group is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.61% | 4/28/24 |
| 30 Year Conventional Refi | 6.43% | 4/28/24 |
| 30 Year Cash-out Refi | 6.49% | 4/28/24 |
| 30 Year FHA Purchase | 6.84% | 4/28/24 |
| 30 Year VA Purchase | 5.80% | 4/28/24 |
| 30 Year VA Refi | 6.27% | 4/28/24 |
| 30 Year USDA Purchase | 5.63% | 4/28/24 |
| 15 Year Conventional Purchase | 5.70% | 4/28/24 |
| 15 Year Conventional Refi | 5.86% | 4/28/24 |
| 15 Year Cash-out Refi | 5.86% | 4/28/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Fairway Funding Group Mortgage Calculator
Your Estimates
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This is not an official calculator from Fairway Funding Group. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
332Origination Dollar Volume (All Markets)
$122,530,000Awards
FAIRWAY FUNDING GROUP - 2022
FAIRWAY FUNDING GROUP is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 220 | $84,920,000 | $386,000 | $7,531 | 4.89% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 26 | $7,990,000 | $307,308 | $8,184 | 4.66% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 18 | $7,650,000 | $425,000 | $9,287 | 5.36% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 17 | $7,525,000 | $442,647 | $6,506 | 4.43% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 16 | $4,430,000 | $276,875 | $8,086 | 4.62% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 7 | $2,575,000 | $367,857 | $9,584 | 5.39% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 6 | $1,760,000 | $293,333 | $10,908 | 4.79% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 4 | $1,390,000 | $347,500 | $9,494 | 5.72% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 3 | $915,000 | $305,000 | $7,124 | 5.54% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $4,130 | 4.00% |
| Outside of Metro Areas | 2 | $470,000 | $235,000 | $6,621 | 6.00% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $8,526 | 3.38% |
| OCALA, FL (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $6,749 | 6.75% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $12,130 | 5.75% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,041 | 5.88% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,766 | 5.13% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,801 | 4.25% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,846 | 5.25% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $5,686 | 5.63% |
| Newport, TN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $10,332 | 5.13% |
| Cookeville, TN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,372 | 4.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against FAIRWAY FUNDING GROUP based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2022, Fairway Funding Group's most frequently originated type of loan was Conventional, with 280 originations. Their 2nd most popular type was VA, with 27 originations.
Loan Reason
For 2022, Fairway Funding Group's most frequently cited loan purpose was Home Purchase, with 261 originations. The 2nd most popular reason was Cash Out Refi, with 62 originations.
Loan Duration/Length
For 2022, Fairway Funding Group's most frequently cited loan duration was 30 Year, with 309 originations. The 2nd most popular length was 15 Year, with 16 originations.
Origination Fees/Closing Costs
Fairway Funding Group's average total fees were $7,824, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 115 originations.
Interest Rates
During 2022, Fairway Funding Group's average interest rate for loans was 4.95%, while their most frequently originated rate bucket for loans was 5-6%, with 101 originations.
Loan Sizing
2022 saw Fairway Funding Group place emphasis on $200k-400k loans with 182 originations, totaling $53,530,000 in origination value.
Applicant Income
Fairway Funding Group lent most frequently to those with incomes in the $100k-150k range, with 89 originations. The second most popular income band? $150k-250k, with 65 originations.
Applicant Debt to Income Ratio
Fairway Funding Group lent most frequently to those with DTI ratios of 20-30%, with 60 originations. The next most common DTI ratio? 30-36%, with 48 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.83%
Fairway Funding Group has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination89.16%
Fairway Funding Group has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 332 | $122,530,000 | $369,066 |