Address: 18 Imperial Pl Unit 1.G, Providence, RI 02903, USA
Phone: +14013214401
Sunday: Closed
Monday: 8:30AM–5PM
Tuesday: 8:30AM–5PM
Wednesday: 8:30AM–5PM
Thursday: 8:30AM–5PM
Friday: 8:30AM–5PM
Saturday: Closed
Julie Cordeiro
I am a repeat client. I value John and his teams professionalism, quick responses and depth of knowledge. Thank you John!
Jose James
It was a great experience to work with Loan officer John Dolbec and his team for my first house project. The Dolbec team supported in all way to make sure my home buying process went smoothly and they replied me quickly of any of my questions. Thank you Dolbec Team! I highly recommend!
Kimberly Anderson
From start to finish John and the Dolbec Team at Fairway made the process smooth and understandable for me, a first time buyer. My numerous questions were answered. I was kept informed at every step in the process.
TEMIDAYO A D E L A K U N
Good and wonderful team They will never see you loosing your dreams house for no reasons. Best Handwork with Excellent services.
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Here at Fairway Independent Mortgage Corporation, we offer a variety of loan options that can help you achieve homeownership with the speed and service you deserve. Plus, our mortgage officers are dedicated to finding the right loan with great rates, terms and costs to meet your specific needs.
Hi Rj. The Amount Financed is lower than the amount you applied for because it represents a NET figure. If someone applied for a mortgage of $50,000 and their prepaid finance charges total $2,000, the amount financed would be shown as $48,000, or $50,000 minus $2,000. The A.P.R. is computed from this LOWER figure, based on what your proposed payments would be. In a $50,000 loan with $2,000 in prepaid finance charges and an interest rate of 14%, the payments would be $592.44 (principal and interest) on a loan with a thirty-year loan term. Since the A.P.R. is based on the NET amount financed, rather than on the actual mortgage amount, and since the payment amount remains the same, the A.P.R. is higher than the interest rate. It would be 14.62%. If this applicant's loan were approved he would still receive a $50,000 loan for thirty years with monthly payments @ 14% or $592.44
Hi Mike. No, if your loan is approved for the amount you applied for, that is how much will be credited toward your home purchase or refinance at settlement.
Hi Eric. The amount financed in the mortgage amount applied for MINUS prepaid finance charges and any required deposit balance. Prepaid finance charges include items such as loan origination fees, commitment or replacement fee (points), adjusted interest, and initial mortgage insurance premium. The Amount Financed represents a NET figure used to allow you to accurately assess the amount of credit actually provided.
Hi Betsy, The cost of credit, expressed as a yearly rate including interest, mortgage insurance, and loan origination fees. This allows the buyer to compare loans, however APR should not be confused with the actual note rate. Please feel free to call with any other questions. 401.321.4401
The New Loan Estimate (LE) replaces the Good Faith Estimate (GFE) and the initial Truth In Lending document (TIL). The LE provides borrowers with clearer information on loan terms and estimates of loan and closing costs. This will facilitate comparison shopping. It will be provided to all borrowers within 3 business days after they have submitted their loan applications.
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