Conventional
The flexible workhorse
- As low as 3% down for eligible buyers
- Credit from 620+, best pricing higher
- PMI drops off at 20% equity
- Primary, second home & investment
Best for: strong credit & steady income
Eden Prairie, MN · Fairway Home Mortgage One team for every
One team for every
door you'll open.
From your first set of keys to your next rental property, the Thiry Mortgage Group guides Minnesota buyers and investors through it all — with the speed, options, and straight answers you deserve.
5 loan officers, one team 5+ loan programs Backed by Fairway · NMLS #2289
NMLS #1435791 Branch Sales Manager Eden Prairie, MN Conventional · FHA · VA · USDA First-Time & DSCR
Meet your loan officer
Nick Thiry, your Eden Prairie mortgage loan officer
Nick Thiry is a mortgage loan officer and Branch Sales Manager with Fairway Independent Mortgage Corporation (Fairway Home Mortgage), based at the Eden Prairie, Minnesota branch — NMLS #1435791. He leads the Thiry Mortgage Group, a five-person team guiding homebuyers and real-estate investors across the Twin Cities and greater Minnesota.
Nick and his team work across the full range of mortgage programs — Conventional, FHA, VA, and USDA — with a focus on first-time homebuyers and investor financing, including DSCR loans that qualify on a property's cash flow. Whether you're buying your first home or adding to a rental portfolio, you'll get straight answers and a clear path from application to closing.
Loan Programs
The right loan is the one built around you.
Every buyer's situation is different. We carry the full menu of core programs under one roof — so the conversation starts with your goals, not a single product we happen to sell.
FHA
The accessible door
- 3.5% down with a 580+ score
- More forgiving credit guidelines
- Gift funds & co-borrowers welcome
- Government-backed stability
Best for: building or rebuilding credit
VA
Earned by service
- $0 down for eligible Veterans
- No monthly PMI, ever
- Competitive rates & reusable benefit
- Limits on closing costs
Best for: Veterans, active duty & spouses
USDA
Room to breathe
- $0 down in eligible areas
- Designed for rural & suburban MN
- Household income limits apply
- Low guarantee fees
Best for: buyers outside the metro core
First-Time Homebuyers
Your first home, without the guesswork.
Buying your first home should feel exciting, not overwhelming. Here's the exact path we'll walk together — and the assistance that can help you get there sooner.
1
Get pre-approved
A quick conversation and a soft look at your numbers tells you what you can comfortably afford — before you fall for a listing.
2
Set your real budget
We map monthly payment, taxes, insurance, and savings so the number you shop with is the number you'll actually live with.
3
Find your agent & start the search
We'll connect you with trusted local agents and stay looped in as you tour homes.
4
Make a strong offer
A solid pre-approval letter from our team helps your offer stand out in a competitive market.
5
Processing & appraisal
We order the appraisal and gather documents while keeping you posted at every step.
6
Underwriting to "clear to close"
Our team works the file so you reach final approval with as few surprises as possible.
7
Closing day — get the keys
You sign, we fund, and the front door is officially yours.
Investor Loans · DSCR
Let the property qualify itself.
Growing a rental portfolio shouldn't stall because of tax returns or DTI. With a DSCR loan, the deal is judged on the property's own cash flow — so you can keep moving.
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Qualify on cash flow, not pay stubs
Approval centers on whether the rent covers the payment — not your personal income or debt-to-income ratio.
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No personal income docs, typically
Often no tax returns, W-2s, or employment verification — ideal for self-employed and full-time investors.
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Close in an LLC
Title and borrow in your business entity to keep your investments organized and separate.
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Scale your portfolio
No hard cap on the number of financed properties the way agency loans impose — build at your pace.
Long-term rentals Short-term / vacation 1–4 units Cash-out refinance Conventional investment
DSCR quick-check
See whether a property's rent covers its payment. DSCR = monthly rent ÷ total monthly payment (PITIA).
$
$
$
$
$
Debt-service coverage ratio
1.27
Strong — cash-flow positive
Most DSCR programs look for a ratio of 1.00 or higher, and many price best at 1.20+. Some lenders allow ratios below 1.00 with adjustments. This is an estimate for illustration only — your loan officer will confirm program guidelines.
Calculators
Run the numbers before you call.
Ballpark figures to get you oriented. When you're ready for the real thing, we'll build a precise scenario around your actual goals.
Monthly payment estimator
Principal & interest, with a rough taxes + insurance estimate.
$
Estimated monthly payment
$2,531
Principal & interest $2,237 · taxes & insurance ~$294
What can I afford?
A starting estimate based on income, debts, and down payment.
$
$
$
Estimated home price you may afford
$395,000
Based on a 43% debt-to-income guideline. Actual approval depends on full underwriting.
These calculators are for illustrative purposes only and accuracy is not guaranteed. Default figures are hypothetical and may not apply to your situation. Consult your loan officer before relying on any result.
Meet the Team
Five officers. One standard.
Led by Branch Sales Manager Nick Thiry, the Thiry Mortgage Group brings the full Fairway toolkit to buyers and investors across the Twin Cities.
Nick Thiry
Branch Sales Manager
NMLS #1435791
Brett Reinhart
Loan Officer
NMLS #1849415
Luke Negen
Loan Officer
NMLS #2566600
Spencer Brady
Loan Officer
NMLS #1899035
Jordan De Jong
Loan Officer
NMLS #2387628
📍 7500 Flying Cloud Drive, Suite 900, Eden Prairie, MN 55344 · ☎ 612-439-7060
Common Questions
Answers, straight up.
Who is Nick Thiry?
Nick Thiry is a mortgage loan officer and Branch Sales Manager with Fairway Independent Mortgage Corporation (Fairway Home Mortgage) in Eden Prairie, Minnesota (NMLS #1435791). He leads the Thiry Mortgage Group, serving homebuyers and real-estate investors across the Twin Cities and greater Minnesota with Conventional, FHA, VA, USDA, first-time buyer, and DSCR investor loans.
What is Nick Thiry's NMLS number?
Nick Thiry's NMLS ID is 1435791. Fairway Independent Mortgage Corporation's company NMLS ID is 2289.
How do I contact Nick Thiry?
Call or text Nick Thiry at (763) 688-1671, email [email protected], or apply online through the Thiry Mortgage Group. His office is at 7500 Flying Cloud Drive, Suite 900, Eden Prairie, MN 55344.
What loan programs does the Thiry Mortgage Group offer?
We offer the full core menu through Fairway Home Mortgage: Conventional, FHA, VA, and USDA loans, plus first-time homebuyer programs and investor financing — including DSCR loans for rental properties. If there's a program that fits your goal, we likely have it.
How much do I need for a down payment?
Less than most people expect. Conventional loans can start at 3% down, FHA at 3.5%, and eligible VA and USDA loans can be $0 down. We'll also help you explore Minnesota down-payment assistance and gift-fund options.
What credit score do I need to buy a home?
It depends on the program. FHA can work with scores around 580, while conventional financing generally starts at 620 with better pricing as your score rises. Don't count yourself out — let us look at your full picture first.
What's the difference between FHA and Conventional?
FHA is government-backed with more flexible credit guidelines and a 3.5% minimum down payment, but carries mortgage insurance for the life of most loans. Conventional can start at 3% down and lets you drop PMI once you reach 20% equity. The best fit depends on your credit, down payment, and long-term plans.
Am I eligible for a VA or USDA loan?
VA loans are available to eligible Veterans, active-duty service members, and certain surviving spouses, and offer $0 down with no monthly PMI. USDA loans offer $0 down in eligible rural and suburban areas, subject to household income limits. We can check eligibility for both in a quick call.
What is a DSCR loan?
A DSCR (Debt-Service Coverage Ratio) loan is designed for real-estate investors. Instead of qualifying on your personal income and debt-to-income ratio, the loan is approved based on whether the property's rental income covers its mortgage payment. It's a popular tool for self-employed borrowers and portfolio builders.
How is DSCR calculated?
DSCR equals the property's gross monthly rent divided by its total monthly payment — principal, interest, taxes, insurance, and any HOA dues (PITIA). A ratio of 1.00 means rent exactly covers the payment; many programs look for 1.00 or higher and price best at 1.20+. Try the DSCR quick-check above to see where a property lands.
Can I get an investment property loan without showing my income?
Often, yes. DSCR programs typically don't require tax returns, W-2s, or employment verification — qualification rests on the property's cash flow. You can also usually close in an LLC. Guidelines vary by program, so we'll confirm the specifics for your scenario.
What first-time homebuyer assistance is available in Minnesota?
Minnesota Housing offers programs that pair a first mortgage with down-payment and closing-cost assistance for eligible buyers, and some require a short homebuyer education course. Combined with low-down-payment loans and gift funds, these can meaningfully lower what you need upfront. We'll help you see what you qualify for.
How long does the mortgage process take?
Many purchase loans move from application to closing in roughly 30 days, though timelines vary with your situation, the property, and the market. Getting pre-approved early and returning documents promptly are the two biggest things that keep a file on track.
How do I get started?
Pick any officer on our team and tap "Apply / Profile," email us directly, or call the branch at (612) 439-7060. We'll start with a no-pressure conversation about your goals and map out your options from there.
Ready when you are.
Whether it's your first home or your fifth rental, the Thiry Mortgage Group will help you find the path that fits. Let's talk.