Michael Inkman

Fairway Independent Mortgage Corp.

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Michael Inkman | Fairway Independent Mortgage Corporation
5.0
Based on 103 reviews
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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.

Can You Use Income From Two Jobs to Qualify for a Mortgage?

January 8, 2025 by Michael Inkman

Balancing two jobs or a full-time career with a side hustle can be rewarding, not just for your wallet but also when it comes to qualifying for a mortgage. Lenders recognize that additional income can strengthen your application, but there are specific rules to ensure your income is reliable and sustainable.

If you’re wondering whether you can use the income from two jobs to qualify for your dream home, the answer is yes, but there are some important factors to consider.

How Lenders View Your Income

  1. Primary Job Income
    Your main job is the backbone of your financial profile and carries the most weight with lenders. This consistent and reliable income forms the foundation of your mortgage approval.

  2. Secondary Job or Side Hustle Income
    Additional income can be included in your application if it meets specific criteria:

    • You’ve been working your second job for at least two years.

    • The income is stable, and you can demonstrate that it’s sustainable over time. Lenders will assess the hours, workload, and consistency of your second job to determine whether it’s reliable.

What You’ll Need to Qualify

To include income from both jobs, you’ll need thorough documentation:

  • Pay Stubs
    Provide recent pay stubs from both jobs to verify your current earnings.

  • Tax Returns
    Your tax returns from the past two years should reflect income from both jobs, showing consistency over time.

  • Employment History
    Lenders will look for a steady employment history in both positions. This helps prove that your second job isn’t temporary or sporadic.

What Happens if You Don’t Meet the Two-Year Requirement?

If your second job is relatively new and doesn’t meet the two-year threshold, it likely won’t count toward your qualifying income. However, that doesn’t mean you’re out of options. Here’s what you can focus on instead:

  1. Strengthen Your Credit Profile
    A strong credit score can offset other areas of your application that may need improvement. Pay down existing debts, make all payments on time, and avoid opening new credit accounts before applying for a mortgage.

  2. Save for a Larger Down Payment
    A substantial down payment can improve your loan-to-value (LTV) ratio, making you a more attractive borrower to lenders.

  3. Show Stability in Your Primary Job
    Even without the second income, consistent earnings from your primary job can be enough to qualify, depending on the loan amount and your debt-to-income ratio.

Why Documentation Matters

Lenders require thorough documentation to ensure that your income is stable and sufficient to cover your mortgage payments. By providing accurate records and demonstrating consistency, you can maximize your chances of approval—even if you’re relying on income from two jobs.

A Strategic Approach to Home Buying

Whether you’re planning to buy your first home or upgrade to a new one, it’s essential to approach the mortgage process strategically. If you’re working multiple jobs, ensure you’ve got the right paperwork and meet the required criteria. This preparation can make the process smoother and give you the confidence to secure the home you want.

Filed Under: Homeowner Tips Tagged With: Home Financing Center, Mortgage Advice, Mortgage Specialist

How to Avoid Mortgage Scams and Stay Safe When Buying a Home

January 7, 2025 by Michael Inkman

Scams are everywhere, and the mortgage world is no exception. As you start the exciting journey of homeownership, it’s essential to be aware of the potential risks and arm yourself with knowledge to protect your investment. Here’s what you need to know about common mortgage scams and how to safeguard your financial future.

Common Mortgage Scams to Watch Out For

1. Wire Fraud
One of the most common and devastating scams is wire fraud. Scammers impersonate your lender or title company, sending fake instructions to transfer your closing funds. Victims often lose their money with little chance of recovery.

What to do: Always confirm wire instructions verbally with your lender or title company. Don’t rely solely on email communication.

2. Foreclosure Relief Scams
These scams target vulnerable homeowners facing financial difficulty. Fraudsters promise to save your home from foreclosure in exchange for upfront fees. Once paid, they disappear, leaving you worse off.

What to do: Seek help only from HUD-approved housing counselors or trusted professionals. Never pay upfront fees for foreclosure assistance.

3. Reverse Mortgage Fraud
Seniors are particularly vulnerable to reverse mortgage scams, where unscrupulous actors use inflated appraisals or complex terms to skim equity from their homes.

What to do: Consult a trusted financial advisor or reverse mortgage counselor to review the terms before signing anything.

4. Bait-and-Switch Tactics
This involves advertising attractive rates and terms, only to switch them after you’ve committed. This leaves unsuspecting borrowers locked into unfavorable loans.

What to do: Always read the fine print, and don’t sign documents unless you fully understand the terms.

How to Protect Yourself

Now that you know the risks, here are proactive steps to stay safe:

Work with Trusted Professionals
Choose lenders, brokers, and real estate agents with strong reputations. Verify their licenses and credentials through official government or industry databases.

Be Cautious with Money Transfers
Never wire money without verbal confirmation. When in doubt, call your lender or title company directly using a verified phone number—not one provided in an email.

Trust Your Instincts
If something feels off, don’t ignore it. Ask questions and get advice from a HUD-approved counselor or another trusted expert. It’s always better to delay than to regret.

Educate Yourself
The more you know about the mortgage process, the harder it is for scammers to take advantage of you. Take time to research and stay informed.

Why Staying Vigilant Matters

Mortgage fraud can cost you your dream home, your savings, and your peace of mind. By taking these steps, you not only protect yourself but also help create a safer market for everyone. Remember, being proactive is always better than trying to recover from a scam.

Let your journey to homeownership be one of confidence and excitement—not one overshadowed by worry. When in doubt, don’t hesitate to reach out to trusted professionals for guidance.

Like this post and save for future reference. Share it with anyone thinking about buying a home in 2025, it could save them from a costly mistake!

Filed Under: Home Mortgage Tips Tagged With: Avoid Mortgage Fraud, Mortgage Advice, Mortgage Scams

What’s Ahead For Mortgage Rates This Week – January 6th, 2025

January 6, 2025 by Michael Inkman

With the holiday season coming to a conclusion, there was little in the way of data releases. Last week, the main reports were the Chicago Business Barometer and the ISM Manufacturing Index, both indicating a slight contraction in the manufacturing sector. This comes as we await the upcoming administration change at the White House. The impact of this is relatively minimal, with lending rates continuing their downward trend. Next week we will be expecting the year-over-year for both the Consumer Price Index (CPI) and Producer Price Index (PPI), wrapping up 2024.

Chicago PMI

The Chicago Business Barometer, also known as the Chicago PMI, dropped further to 36.9 in December 2024, compared to November’s 40.2 and missing market forecasts of 42.5.

Primary Mortgage Market Survey Index

• 15-Yr FRM rates saw an increase of 0.13% with the current rate at 6.13%
• 30-Yr FRM rates saw an increase of 0.06% with the current rate at 6.91%

MND Rate Index

• 30-Yr FHA rates saw a decrease of -0.03% for this week. Current rates at 6.42%
• 30-Yr VA rates saw a decrease of -0.01% for this week. Current rates at 6.45%

Jobless Claims

Initial Claims were reported to be 211,000 compared to the expected claims of 225,000. The prior week landed at 220,000.

What’s Ahead

Both the year-over-year reports for the CPI and PPI as well as the first reports of inflation data for 2025 is on the release schedule.

Filed Under: Financial Reports Tagged With: Financial Report, Jobless Claims, Mortgage Rates

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Michael Inkman

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

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

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Carrollton, TX 75007

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