2076 South Woodlands Village Blvd Suite 201
Flagstaff, AZ 86001
Local: (928) 226-6908
Fax: (928) 226-0403

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Serving Flagstaff and the surrounding areas, we have over 20 years in the Mortgage Lending industry.

Whether you need help with financing for your first home or you're one of our area's many vacation or investment property owners, we can help. Academy Mortgage offers a wide range of loan programs to fit every buyer.

Please call us today to discuss your current mortgage and your future mortgage goals.



Read these articles to educate yourself on the mortgage process and industry.

Corp Lic: AZ: BK-0904081; CA: 4170013;

Licensed by the Department of Business Oversight Under the California Residential Mortgage Lending Act;

Bursting the housing bubble myth

According to the National Association of Realtors, while home prices are still increasing and properties are overvalued in some regions, the U.S. is not in jeopardy of another housing bubble situation. 

Housing market remains stable. Currently, the national median selling price for a home is above its 2006 peak, but this is largely because there is a lower level of available inventory, and it cannot support the current demand. 

"Just because you're overvalued doesn't mean that you're in a bubble or there is an impending crash," noted Sam Khater, deputy chief economist at CoreLogic, a leading financial, property, and consumer information and analytics company, according to the NAR. "Some markets are overvalued because of strong fundamentals." 

Fannie Mae predicts second-half growth. The current economic conditions also support the rising home prices in the U.S. According to a press release from Fannie Mae, consumer spending will help improve the country's economic growth in the second half of 2015, despite recent market volatility. A stronger economy will support interested homebuyers and bolster their ability to afford new homes. 

"Our forecast for the year is largely unchanged despite recent market volatility. Fundamentals are positive, suggesting potential for some improvement in the fourth quarter," said Fannie Mae Chief Economist Doug Duncan, according to the release. 

Duncan indicated consumers will likely get additional support during the rest of the year because of subdued inflation, low oil prices and a strengthening dollar. 

Fannie Mae expects economic growth to increase from the prior forecast of 2.1% to 2.4% for 2015, driven by consumer spending, government spending and both residential and nonresidential investments. 

"Continued strong performance of year-to-date home sales and modestly weakening leading indicators confirm that our prior forecast of existing home sales this year remains valid. However, lower actual and projected cash sales led us to revise slightly higher purchase mortgage originations," said Duncan.

Individuals interested in purchasing a new home should feel confident in the future of the real estate market, as well as the broader U.S. economy. 

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.


Interest rates continue to decline

Events abroad have impacted the mortgage industry and have sent interest rates down once again, according to Freddie Mac, a government-sponsored enterprise. 

"Events in China generated eye-catching volatility in equity markets worldwide over the past week. Interest rates also rocked up and down - although to a lesser extent than equities - as investors alternated between flights to quality and bargain hunting among beaten-down stocks," said Freddie Mac's Chief Economist Sean Becketti. "Amidst all this confusion, the 30-year mortgage rate dropped to 3.84 percent, the lowest mark since May and the fifth consecutive week with a rate below 4 percent."

Fixed-rate mortgages dip for the week ending August 26. Both 30- and 15-year FRMs fell when compared on a week-over-week basis. The average 30-year FRM averaged 3.84% this week, which is also down from the 4.1% average seen a year ago at this time. In addition, the average 15-year FRM, 3.06%, decreased from the 3.25% average seen the previous year. 

The 5-year Treasury-indexed hybrid adjustable-rate mortgage decreased both on a year-over-year and week-over-week basis. However, the 1-year Treasury-indexed ARM remained unchanged at 2.62%. 

Bankrate also reports falling interest rates. According to Bankrate, interest rates fell for U.S. home mortgages as a result of China's market as well as the economic turmoil that occurred earlier this week on Wall Street. 

As U.S. stocks fell, investors decided to try their luck in government bonds. This forced yields down as prices rose. In fact, the 10-year Treasury yield dipped below 2%, which has not occurred since April. 

"The huge swings on the equity side have translated into huge swings on our side, which can be a good thing," noted Brett Sinnott, vice president of capital markets for CMG Financial, a mortgage banking firm, according to Bankrate. 

The housing sector will continue to strengthen. Fortunately, it appears the real estate market will continue to strengthen. As home values increase and demand remains high, the market will flourish. 

"Recent housing data continues to show a strengthening housing sector," David Nice, economist and vice president at Mesirow Financial in Chicago, says in a blog post, according to Bankrate. "This can't come at a better time, as it provides some soothing and stabilizing news in the face of recent volatility in the global equity markets."

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.


Construction spending increases more than anticipated

According to a joint press release from the U.S. Department of Commerce and the U.S. Census Bureau, construction spending increased to $1,083.4 billion in July. This was 0.7% higher than the revised June estimate and 13.7% above the July 2014 figure. 

The high volume of construction spending means greater community development and more inventory for interested buyers looking to apply for a U.S. home mortgage. 

Private construction rises. According to the press release, private construction spending increased 1.3% from June's revised estimate. In addition, residential construction rose to $380.8 billion in July from $376.6 billion in June. 

Nonresidential construction also increased from the previous month by 1.5% to $407 billion. 

The Associated Press reported construction spending in the U.S. rose to the highest level seen in seven years.

"We expect housing activity will continue to strengthen, underpinning greater residential investment in the coming quarters," noted Gregory Daco, head of U.S. macroeconomics at Oxford Economics.

More inventory is beneficial for the growing number of interested homebuyers, and the construction of single-family homes increased by 2.1% in July. In addition, power facilities increased by 2.1%, while construction of factories rose 4.7% during July.

Demand for housing continues to increase. According to the Mortgage Bankers Association's weekly survey, applications for U.S. home loans rose for the week ending August 28. Total applications for mortgages rose 11.3% when compared on a week-over-week basis. 

"Although mortgage rates were unchanged for the week, Treasury rates were down sharply early in the week due to the global stock market rout and this led to a significant increase in application volume," noted Mike Fratantoni, the MBA's chief economist.

Refinancing applications accounted for 58.7% of all applications. This is up 3.4 percentage points from the previous week. 

In addition, adjustable-rate mortgage applications increased to 7.5% of all activity. However, applications through the Federal Housing Administration, Department of Veteran Affairs and the U.S. Department of Agriculture ticked down slightly during the week ending August 28. 

When supply meets demand, affordability for prospective homeowners will likely improve and allow more individuals to invest in real estate of their own. As housing activity increases, the real estate market will continue to strengthen. 

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.