Brokers - Frequently Asked Questions
Q: What do I need to get started with a commercial loan?
A: 1003, description of the property, and a credit report. It's that easy.
Q: Do I need to be an “approved broker” to work with Fairway America?
A: The short answer, "no." Fairway America makes it easy for brokers to serve their clients and earn a healthy income, without the hassle of an approval process. Just make a 10-minute phone call to one of our Account Executive, and you'll be well on your way to meeting your client's goals and getting paid!
Q: I don't have much experience in commercial lending. Can I broker a commercial loan to you with little to no experience in this area?
A: YES! Due to the specialized nature of our lending niche, many brokers we do business with have little to no experience handling these loans. With these brokers (the majority of our referrals come from residential mortgage professionals) we will work with as little as the name and number of the client or take whatever level of loan package you may have. Fairway America makes it fast, easy, and profitable for brokers to close tough commercial loans and earn extra income!
Q: Who orders the appraisal, title, environmental report?
A: We are happy to try to utilize any reports you may already have or we can order them ourselves, whatever works best for you and your client!
Q: What is your lending territory?
A: Our primary lending territories are Oregon, Washington, and Idaho, as we are very familiar with these markets. This local approach allows us to speed up the loan process by eliminating appraisals in most cases, utilizing strong relationships with local third party sources, and reducing logistical challenges that national lenders face. We also fund loans in California and Arizona.
Q: How can I be sure I'll get paid?
A: Protecting the broker's fee and assuring you get paid is our number 1 priority. If you are the originating source of the loan, we make sure you get paid - period!
