This document summarizes various jumbo loan options from Fairway Independent Mortgage Corporation. It describes their Select QM, Choice QM, Select Non-QM, and Choice Non-QM loan programs, which vary based on borrower credit score, reserves, maximum loan amounts, property types, and debt-to-income ratios. It also includes their Select 90 QM program focused on first-time homebuyers. The options provide jumbo loans for both qualified mortgage (QM) and non-qualified mortgage (Non-QM) loans.

1. Fairway Jumbo Loan Options
QM and Non-QM

2. Fairway
Select QM
Loan features include:
• 10- to 30-year fixed rate loans
• 5/1, 7/1, 10/1 ARMs
• Fully amortizing
• 2.25 margin
• Minimum FICO: 700-760
• Maximum loan amounts:
• $1,000,000 for first-time homebuyers
($1,500,000 allowed in CA, CT, NJ, NY
with additional restrictions)
• $2,500,000 for other borrowers
Good for borrowers
with high credit
scores and high
reserves

3. Number of Units Allowed:
Primary Second Home Investment
1-2 1 1-4
Fairway
Select QM

4. Fairway
Select QM
Other loan features:
• Down payments as low as 15% with no mortgage insurance.
• Secondary financing not allowed.
• Rate & term and cash-out refinances allowed.
• Debt-to-income (DTI)* ratio of up to 43% allowed.
• Can have up to four financed properties.
*Debt-To-Income (DTI) ratio is monthly income debt/expenses divided by
gross monthly income.

5. Fairway
Choice QM
Loan features include:
• 10- to 30-year fixed rate loans
• 5/1, 7/1, 10/1 ARMs
• Fully amortizing
• 3.5 margin
• Minimum FICO: 661-680
• Maximum loan amounts:
• $1,000,000 for first-time homebuyers
($1,500,000 allowed in CA, CT, NJ, NY
with additional restrictions)
• $2,000,000 for other borrowers
Good for borrowers
with lower credit
scores and lower
reserves

6. Number of Units Allowed:
Primary Second Home Investment
1-4 1 1-4
Fairway
Choice QM

7. Fairway
Choice QM
Other loan features:
• Down payments as low as 10% with no mortgage insurance.
• Secondary financing allowed.
• Rate & term and cash-out refinances allowed.
• Debt-to-income (DTI)* ratio of up to 43% allowed.
• Non-warrantable condos and condotels allowed.
• Can have up to 10 financed properties.
*Debt-To-Income (DTI) ratio is monthly income debt/expenses divided by
gross monthly income.

8. Fairway
Choice QM
Non-Occupant Co-Borrower Loan Features:
• Loan amounts up to $1,000,000. ($1,500,000 in CA, CT, NY, NJ.)
• 1-unit primary residence.
• Non-occupant borrower must be immediate family member.
• Down payment as low as 20%.
• Additional six months reserves required.
• Down payment and reserves can be from occupant or non-occupant borrower.
• Blended debt-to-income (DTI)* ratio of up to 43% allowed.
*Debt-To-Income (DTI) ratio is monthly income debt/expenses divided by
gross monthly income.

9. Fairway
Select Non-QM
Loan features include:
• 20-, 25-, 30-year fixed rate loans
• Minimum FICO: 700-740
• Down payments as low as 20%
• Secondary financing allowed.
• Maximum loan amounts:
• $1,000,000 for first-time homebuyers
($1,500,000 allowed in CA, CT, NJ, NY
with additional restrictions)
• $2,000,000 for other borrowers
Good for borrowers
with high credit scores
and high reserves and
debt-to-income (DTI)*
ratios above 43%
*Debt-To-Income (DTI) ratio is monthly income debt/expenses divided by gross monthly income.

10. Number of Units Allowed:
Primary Second Home Investment
1-2 1 1-4
Fairway
Select Non-QM

11. Fairway
Select
Non-QM
Other loan features:
• Rate & term and cash-out refinances allowed.
• Debt-to-income (DTI)* ratio of up to 43% allowed.
• Minimum of 20% equity in your current residence.
• 12 month reserves needed.
• Must sign an affidavit certifying that current residence will be
put up for sale within 90 days.
• Can have up to 10 financed properties.
*Debt-To-Income (DTI) ratio is monthly income debt/expenses divided by
gross monthly income.

12. Fairway
Choice Non-QM
Loan features include:
• 10- to 30-year fixed rate loans
• 5/1, 7/1, 10/1 ARMs
• Fully amortizing
• 3.5 Margin
• Interest-only: 30-yr fixed rate,
5/1 and 7/1 ARMs
• Minimum FICO: 661-680
• Maximum loan amounts:
• $1,000,000 for first-time homebuyers
($1,500,000 allowed in CA, CT, NJ, NY
with additional restrictions)
• $2,000,000 for other borrowers
Good for borrowers
with lower credit scores
and lower reserves and
debt-to-income (DTI)*
ratios above 43%
*Debt-To-Income (DTI) ratio is monthly income
debt/expenses divided by gross monthly income.

13. Number of Units Allowed:
Primary Second Home Investment
1-4 1 1-4
Fairway
Choice Non-QM

14. Fairway
Choice
Non-QM
Other loan features:
• Down payments as low as 10% with no mortgage insurance.
• Secondary financing allowed.
• Rate & term and cash-out refinances allowed.
• Debt-to-income (DTI)* ratio of up to 49.99% allowed for fixed rate loans; 47% for ARMs.
• Minimum of 20% equity in your current residence.
• 12 month reserves needed.
• Must sign an affidavit certifying that current residence will be put up for sale within 90 days.
• Non-warrantable condos and condotels allowed.
• Can have up to 10 financed properties.
*Debt-To-Income (DTI) ratio is monthly income debt/expenses divided by
gross monthly income.

15. Fairway
Choice
Non-QM
Non-Occupant Co-Borrower Loan Features:
• Loan amounts up to $1,000,000. ($1,500,000 in CA, CT, NY, NJ.)
• 1-unit primary residence.
• Non-occupant borrower must be immediate family member.
• Down payment as low as 20%.
• Additional six months reserves required.
• Down payment and reserves can be from occupant or non-occupant borrower.
• Blended debt-to-income (DTI)* ratio of up to 43% allowed.
*Debt-To-Income (DTI) ratio is monthly income debt/expenses divided by
gross monthly income.

16. Fairway
Select 90 QM
Loan features include:
• 20-, 25-, 30-year fixed rate loans
• 1-unit primary residences only
• Minimum FICO: 720-740
• Maximum loan amounts:
• $1,000,000 for first-time homebuyers
($1,500,000 allowed in CA, CT, NJ, NY
with additional restrictions)
• $1,500,000 for other borrowers
Good for borrowers
with high credit
scores who need
a low down
payment Jumbo

17. Fairway
Select QM
Other loan features:
• Down payments as low as 10% with no mortgage insurance.
• Secondary financing not allowed.
• Debt-to-income (DTI)* ratio of up to 38% allowed for first-
time homebuyers; 43% allowed for other borrowers.
• Can have up to two financed properties.
*Debt-To-Income (DTI) ratio is monthly income debt/expenses divided by
gross monthly income.

18. Copyright © 2019 Fairway Independent Mortgage Corporation.
NMLS#2289. 4750 S. Biltmore Lane, Madison, WI 53718, 1-866-912-4800. All
rights reserved. This is not an offer to enter into an agreement. Not all
customers will qualify. Information, rates and programs are subject to
change without prior notice. All products are subject to credit and property
approval. Not all products are available in all states or for all dollar
amounts. Other restrictions and limitations may apply. Equal Housing
Lender. NC License Number 2289.