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.

Loan Process

The application process for a mortgage loan can be broken down into several key stages, each of which plays a crucial role in determining your eligibility and securing financing for your home purchase. Here’s an overview of what the mortgage loan application process typically looks like:

  1. Preparation and Research: Before formally applying for a mortgage, it’s essential to do your homework. Determine your budget, creditworthiness, and the type of mortgage that suits your needs. This preliminary stage involves evaluating your financial situation, credit score, and saving for a down payment.
  2. Choose a Lender: Research and compare different lenders, including banks, credit unions, and mortgage brokers. Choose a lender that offers competitive rates and terms, as well as a good reputation for customer service.
  3. Prequalification: Many borrowers start with prequalification, which is an informal assessment of your financial situation based on information you provide to the lender. Prequalification can give you a sense of how much you may be eligible to borrow.
  4. Preapproval: Preapproval is a more formal step in the process. You submit a mortgage application and provide documentation to support your financial status, including income, assets, and credit history. The lender will issue a preapproval letter, which demonstrates to sellers that you’re a serious buyer with the means to secure financing.
  5. Property Selection: Find a property that meets your needs and budget. Once you’ve identified a potential home, you’ll work with your real estate agent to make an offer, and your offer may be contingent on securing a mortgage.
  6. Formal Loan Application: After your offer is accepted, you’ll submit a formal loan application to the lender. This includes completing a Uniform Residential Loan Application (Form 1003) and providing all required documentation, such as proof of income, assets, and employment history.
  7. Credit Check and Underwriting: The lender will conduct a thorough credit check and review your application and documentation. They’ll assess your creditworthiness and determine if you meet their lending criteria. This stage involves the underwriting process, where the lender evaluates the risk associated with your loan.
  8. Appraisal and Property Inspection: The lender will order an appraisal to assess the property’s value and ensure it serves as adequate collateral for the loan. Additionally, a home inspection may be conducted to identify any potential issues with the property.
  9. Loan Approval: If your application meets the lender’s criteria, the loan is approved, and you’ll receive a loan commitment letter. This outlines the terms and conditions of the mortgage, including the interest rate, loan amount, and closing costs.
  10. Closing Preparation: As the closing date approaches, you’ll work with the lender, real estate agents, and title company to complete any remaining paperwork, address outstanding conditions, and schedule the closing meeting.
  11. Closing: At the closing meeting, you’ll sign all necessary documents, including the mortgage note and deed of trust. You’ll also pay closing costs, which may include fees for loan origination, title insurance, and escrow.
  12. Funding and Transfer of Ownership: After all documents are signed and funds are disbursed, the ownership of the property is transferred to you, and the loan is funded. You receive the keys to your new home.

It’s important to note that the mortgage loan application process can vary depending on factors such as the type of loan, lender requirements, and local regulations. Working closely with your lender and real estate professionals can help navigate this process smoothly and increase your chances of a successful home purchase.

Michael Inkman

Contact Michael


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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Office Location


4201 Marsh Lane
Carrollton, TX 75007

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