Boca Raton

1699 S Federal Highway Suite 300
Boca Raton, FL 33432
Local: (561) 948-3838
Fax: (866) 474-5227

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Welcome to Academy Mortgage!

It’s all about service at Academy Mortgage - Boca Raton, and our company has been meeting the needs of homebuyers across the United States since 1988. We understand how important a home investment is to you and the impact it will have on your life. Therefore, our team of experienced mortgage professionals will make every effort to find the best loan program and pricing for your situation.

Our sole focus is on you—the customer—and you can count on us for exceptional service. A big part of this service experience is that every step of the mortgage loan transaction—processing, underwriting, closing, and funding—is handled locally, which results in our proven track record of closing loans as quickly and efficiently as possible.

We invite you to put us to the test. Let us show you how simple and easy securing a mortgage can be in Florida.

OUR TEAM

Corp Lic: FL: MLD241; IL: MB.6760661; GA: 20505; AR: 3113;

Illinois Residential Mortgage Licensee; Georgia Residential Mortgage Licensee;

Improving employment and plans for future growth may spur a stronger housing market

A stronger economic situation and further job growth may contribute to an improving housing market. A press release from the White House indicated that President Barack Obama and his administration announced the TechHire initiative, which intends to help more U.S. citizens afford and receive training for jobs with more substantial salaries. Partnered with a strengthening U.S. dollar, the initiative may make purchasing a home more appealing to potential homeowners.

President Obama announces plan to help citizens improve their salaries. The White House announced the TechHire initiative March 9. The effort aims to provide all Americans with access to quality training and education for technology jobs. Consumers can find more than half a million employment opportunities available within the technology industry.

In addition, a number of cities across the nation are partnering with the initiative to help improve people's access to technology jobs. Some of these include:

In addition to the efforts put forth to increase higher-quality and more rewarding jobs, current job growth has been impressive.

February's employment situation suggested a stronger job economy. According to the Bureau of Labor Statistics, the unemployment rate fell and the volume of nonfarm payroll employment ticked up in February. February's unemployment rate decreased to 5.5%, and employers added 295,000 new nonfarm payroll jobs.

In addition, all employees earning an hourly wage saw a 2% increase in their year-over-year pay, on average.

Job growth occurred in a number of different industries. Food and drink service employment increased by 59,000 positions, and professional and business services jumped up 51,000 jobs. In addition, jobs available within the construction sector increased. This sector experienced 29,000 new employment opportunities. A majority of the new jobs are within the residential construction industry. This may also indicate a heightened demand for new houses.

Improved financial situations for families may spur housing market growth. With a new plan to help Americans land well-paying jobs and a strong job economy in February, more individuals may decide to apply for a conventional home mortgage and look for a new house. A high volume of pent-up housing demand among boomerang buyers and young adults who previously had a difficult time finding a job, an improved employment situation and promising future economic prospects may encourage a number of individuals to enter the housing market and strengthen its recovery.

Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2014 CoreLogic Marketrac Report. Visit www.academymortgage.com to find a loan, get a rate or calculate your payment today.

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Housing market has promising future in 2015

Economists anticipate a stronger housing market in 2015 due to a number of factors that may propel real estate activity in the U.S., including a pent-up volume of first-time homebuyers, more affordable rates and increased accessibility of home loans. In addition, applications for U.S. home mortgages increased in February. 

The first-time homebuyer is up to bat. The number of individuals who have not yet invested in real estate is expected to expand in 2015. According to Kiplinger, a financial and business publication, the volume of first-time homebuyers is forecast to account for roughly 30% of total real estate activity. A healthy housing market in the past typically stood at around 35%.

Total sales of existing homes are expected to increase to 5.35 million from 4.29 million the previous year. On a year-over-year basis, new home sales are projected to increase 19%.

In addition, the available inventory of homes which were recently built is quickly declining. Demand for real estate is rising, with home values increasing accordingly. 

U.S. home mortgage interest rates may attract more buyers. Freddie Mac released its U.S. Weekly Averages for home loans for the week ending March 5 and the average national interest rate among lending institutions had dipped substantially. Average interest for a 30-year fixed rate mortgage stood at 3.75% and a 15-year FRM stood at 3.03%.

The Washington Post noted that current interest rates can lead to substantial savings when compared to the previous year's mortgages. 

"Mortgage rates fell across the board, with the 30-year fixed rate mortgage reading 3.75 percent this week," said Len Kiefer, Freddie Mac's deputy chief economist, according to the Washington Post. "Real GDP growth for the fourth quarter was revised down to 2.2 percent. Consumer prices fell more than expected in January, tumbling 0.7 percent."

Loan standards altered to encourage more potential homeowners to enter the market. Lower down payment options available through government-backed lenders like Freddie Mac and Fannie Mae provide a more affordable alternative for qualified hopeful borrowers. In addition, the Federal Housing Administration's recent announcement to reduce rates associated with annual insurance premiums for FHA loans can save borrowers nearly $1,000 and may entice new buyers, further bolstering the housing market.

These recent changes in lending standards were intended to meet the needs of younger adults who want to purchase a home. 

Applications for home loans tick up. For the week ending February 27, mortgage applications jumped up 0.1% from the previous week when seasonally adjusted, and 12% on an unadjusted basis, according to a press release from the Mortgage Bankers Association. 

Applications for Veteran Affairs home loans increased 2 percentage points week over week and adjustable-rate mortgage applications ticked up to 5.4%. The number of refinanced mortgages remained the same at 62%. 

Historically low interest rates may have propelled an increase in mortgage applications with the potential to trigger greater loan activity in the near future as well.

Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2014 CoreLogic Marketrac Report. Visit www.academymortgage.com to find a loan, get a rate or calculate your payment today.

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US home values increase notably in January

The prices of real estate in the U.S. jumped up in January. CoreLogic, a leading financial, property, and consumer information and analytics company, released its Home Price Index Report March 3, and the results showed that there was an uptick in home prices.

U.S. home prices increase year over year. The average cost of a house increased 5.7% in January since last year at that time. January contributed to a pattern of 35 consecutive months with year-over-year gains.

The five U.S. states with the most substantial gains in January included:

  1. Colorado
  2. Wyoming
  3. Texas
  4. Michigan
  5. Nevada

Higher home prices are good news for those looking to sell their houses. Individuals speaking with their mortgage company about taking out a home equity loan may also benefit from higher property values. However, home affordability can still be reachable due to historically low interest rates. 

Lower interest rates continue. The average 30-year fixed-rate mortgage in January was 3.67%. This percentage was still substantially lower than the annual averages from 1971 to 2011. The average rate for the week ending Feb. 28 for a 30-year FRM was 3.8% and a 15-year FRM was at 3.07%, according to Freddie Mac. These lower rates may counteract potentially higher home prices and appeal to a buyer. 

In addition, other alterations have been engineered to help increase home affordability. Low down payment options for qualified buyers and cuts to premium expenses help alleviate some of the costs associated with purchasing a new home. 

Forecast for real estate values anticipates more growth. CoreLogic predicted home prices would continue to increase 0.4% in February from January and 5.3% year over year in January 2016.

Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2014 CoreLogic Marketrac Report. Visit www.academymortgage.com to find a loan, get a rate or calculate your payment today.

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