Michael Inkman

Fairway Independent Mortgage Corp.

  • Home
  • About
    • About Michael
    • Accessibility Statement
  • Types of Loans
    • Reverse Mortgages
    • 203K Rehab Loans
    • Get Pre-Approved
    • Conventional
    • FHA Loans
    • Jumbo Mortgage Loans
    • USDA Home Loans
    • VA Loans
  • Resources
    • First Time Buyer Tips
    • First Time Seller Tips
    • Loan Checklist
    • Loan Process
    • Loan Programs
    • Home Purchase
    • Home Refinance
    • Home Inspection
    • Home Appraisal
    • Mortgage FAQ
    • Mortgage Glossary
  • Reviews
    • Google Reviews
    • Read Reviews
    • Leave a Review
  • Get Pre-Approved
  • Contact
Michael Inkman | Fairway Independent Mortgage Corporation
5.0
Based on 103 reviews
powered by Google
review us on
Lee Vanvolkenburg
15:43 23 Nov 23
Michael and his team were wonderful to deal with. They were excellent with communication and always available to answer questions. Thank you all!
williams lovos
22:54 16 Nov 23
We close on the house tomorrow! Thank you David and Michael for making my first home buying a smooth process. I had several out of the ordinary situations that would had easily not been possible to get the loan in the time that they were able to approve it. My wife and I are forever grateful for the work the team did. Thank you again!
Mario Silvestri III
16:45 16 Nov 23
Rex Perkins
16:56 15 Nov 23
Everything had been going well over the past two years since refinancing an existing mortgage. The application process, approval, servicing website, everything had been very smooth, nothing but the best service. I then had a minor issue arise. We had a wind loss claim on our home and, unfortunately, I had put off getting the check cosigned until the last minute. An issue arose as part of a minor miscommunication in terms of where the check was to be forwarded for endorsement.To make a long story short, I feared that this miscommunication and misdirected check coupled with my procrastination were going to result in the check expiring and a huge hassle on my part to go through the process again. Mr. Inkman nor his branch were in any way involved with my account or account management, yet, the check inadvertently ended up in their draft loss department and I feared this would further delay things. I was a bit frantic.One of those that I emailed was Mr. Inkman. In an era when customer service is not as valued as in the past, I was very skeptical I would meet the deadline. But, to my surprise, Mr. Inkman took it on his own to personally get things done and get the issue resolved. It appears that he tracked down the overnighted check personally, directed it for signature, packaged and overnighted the check back to me. All the while remaining professional and pleasant and providing consistent email updates on the status. It doesn't even look like he delegated, rather taking the initiative and seeing it through on his own.To me, that's not just doing a job, that's going above and beyond in terms of leadership, professionalism, and customer service. We could not be more happy. And, as a further sign of good will, the Fairway CEO actually emailed me personally to follow-up and assure resolution. Been very happy with Fairway since my refinance, Mr. Inkman's efforts only further reinforce that opinion.
Samer Fallouh
15:01 15 Nov 23
Debbie Salas
21:47 03 Oct 23
This transaction probably would not have happened without Michael. Whenever we hit a stumbling block, he found a way around it! He kept us informed and was a positive light all the way through to the end and beyond.Thanks
Eric Kieffer
22:46 16 Aug 23
Did business with Michael about 20 years ago and he was happy to help us again. He and his team did a great job. See you in another 20.

Reverse Mortgage Loan

Retire in a Home that’s Right for You

A reverse mortgage can be used to turn a portion of the equity in your home into cash that can be used for many different purposes that may enhance and extend your retirement. If you currently have a mortgage, a reverse mortgage could eliminate your mortgage payment (taxes and insurance must still be paid, and the home maintained), and also allow you to access any additional equity (over and above your mortgage balance), to create accessible cash which is not readily available while in the form of home equity. You have spent many years putting your money into your home equity, and now with a reverse mortgage, you may be able to convert some of that equity into tax-free cash.*

*This information does not constitute tax advice. Please consult a tax advisor regarding your specific situation.

Reverse Mortgage Eligibility

  • Borrower(s) must be 62 years or older
  • Must be homeowner and either own home outright or have significant equity; must live in home as primary residence (live there 6+ months per year)
  • Property must be a single-family home, 2- to 4-unit dwelling or FHA-approved condo
  • Must meet minimal credit and property requirements
  • Must receive reverse mortgage counseling from a HUD-approved counseling agency
  • Must not be delinquent on any federal debt

Potential Advantages of a Reverse Mortgage

  • Receive money from your home equity which is usually tax free.*
    A reverse mortgage can be used to turn a portion of the equity in your home into cash that can be used for many different purposes. You can receive your loan proceeds in a lump sum, line of credit, monthly cash flow payment or a combination of all three. However, if you choose a line of credit, you may have the option of paying down the line if you want to have less cash and increase your equity.
    * This information does not constitute tax advice . Please consult a tax advisor regarding your specific situation.
  • Eliminate your monthly mortgage payment.
    With a reverse mortgage, you will not be required to make a monthly payment during your lifetime as long as you live in your home, pay taxes and insurance, and maintain the home (and pay HOA fees, if applicable).
  • Never owe more than what the home is worth.*
    When you permanently move out of your home, whether you sell it or pass away, neither your estate nor your heirs are responsible to pay the deficit if the balance owed on your reverse mortgage exceeds the home value. If your heirs want to keep your home, they can purchase it for 95% of the current appraised value.
    *There are some circumstances that will cause the loan to mature and the balance to become due and payable. Borrower is still responsible for paying property taxes, insurance and maintenance (and HOA fees, if applicable). Credit is subject to age, property and some limited debt qualifications. Program rates, fees, terms and conditions are not available in all states and subject to change.
  • Bridge the Medicare gap from age 62 to 65.
    Many seniors delay retirement until they are 65, because they cannot afford to pay for their health insurance before Medicare kicks in. By utilizing proceeds from a reverse mortgage, you can avoid paying income tax on money drawn from your IRA or other accounts to help keep your retirement funding plan* in place without diminishing your current assets.
    *This information does not constitute financial planning advice. Please consult a financial planner regarding enhancements to retirement plans.
  • Pay for long-term care expenses.
  • With the proceeds from a reverse mortgage, you could purchase long-term care insurance to handle these expenses without losing your home in the process

Types of Reverse Mortgages

Proprietary Reverse Mortgages

Private loans backed by the companies that develop them.

Home Equity Conversion Mortgages (HECMs)

Federally-insured reverse mortgages backed by the U. S. Department of Housing and Urban Development (HUD). HECM loans enable you to withdraw a portion of your home’s equity and can be used for any purpose. How much you can borrow with a HECM or proprietary reverse mortgage depends on several factors, including:

  • your age
  • the type of reverse mortgage you select
  • the appraised value of your home
  • current interest rates, and
  • a financial assessment of your willingness and ability to pay property taxes and homeowner’s insurance.

Home Equity Conversion Mortgage for Purchase (H4P)

An H4P (a type of HECM backed by the FHA) enables senior homebuyers to purchase a new primary residence that better suits their needs and obtain a reverse mortgage in one transaction. You can use an H4P if you are able to use cash on hand to pay the difference between the HECM proceeds and the sales price plus closing costs for the property you are purchasing. This type of HECM reverse mortgage, if it is offered in your area, may allow you to:

  • Build a new customized home
  • Relocate closer to friends and family members
  • Purchase a home in senior housing community
  • Downsize to a smaller, easier-to-maintain home
  • Purchase a primary residence suitable for your current needs
  • Move into a new home that’s easily accessible with modern amenities
Copyright©2019 Fairway Independent Mortgage Corporation (“Fairway”) NMLS#2289. 4750 S. Biltmore Lane, Madison, WI 53718, 1-866-912-4800. All rights reserved. Fairway is not affiliated with any government agencies. These materials are not from HUD or FHA and were not approved by HUD or a government agency.  Reverse mortgage borrowers are required to obtain an eligibility certificate by receiving counseling sessions with a HUD-approved agency. Youngest borrower must be at least 62 years old.  Your monthly reverse mortgage advances may affect your eligibility for some other programs.  At the conclusion of the term of the reverse mortgage loan contract, some or all of the equity in the property that is the subject of the reverse mortgage no longer belongs to you and you may need to sell or transfer the property to repay the proceeds of the reverse mortgage with interest from your assets.  We will charge an origination fee, a mortgage insurance premium, closing costs or servicing fees for the reverse mortgage, all or any of which we will add to the balance of the reverse mortgage loan.  The balance of the reverse mortgage loan grows over time and interest will be charged on the outstanding loan balance.  You retain title to the property that is the subject of the reverse mortgage until you sell or transfer the property and you are therefore responsible for paying property taxes, insurance, and maintenance and related taxes.  Failing to pay these amounts may cause the reverse mortgage loan to become due immediately and may subject the property to a tax lien or other encumbrance or to possible foreclosure.  Interest on reverse mortgage is not deductible to your income tax return until you repay all or part of the reverse mortgage loan. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply.
 

Michael Inkman

Contact Michael


michael@michaelinkman.com
Mobile: (214) 762-4659
NMLS #152707

FIMC Logo

Connect with Me

Browse Articles By Category

Quick Links

  • About Michael
  • Accessibility Statement
  • Blog

The content on this website is written by Michael and reflects his opinion, and not the opinion of Fairway Independent Mortgage Corporation.

Texas Consumer Complaint and
Recovery Fund Notice

Third Party FIMC: bestmortgageblog.com
Equal Housing Lender
Company NMLS #2289
For licensing information, go to: www.nmlsconsumeraccess.orgPrivacy Policy | Terms of Use
Complaints may be directed to: (877) 699-0353 or Email us: customerservice@fairwaymc.com.

Office Location


4201 Marsh Lane
Carrollton, TX 75007

Copyright © 2025 · Powered by MySMARTblog

Copyright © 2025 · Genesis Sample Theme on Genesis Framework · WordPress · Log in