Flagstaff

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.

OUR TEAM

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

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

TRID resources available to consumers and industry professionals

The Oct. 3 deadline for the TILA-RESPA Integrated Disclosure Rule is quickly approaching. Fortunately, in preparation for the implementation of this regulation, there are resources available to those involved in the homebuying process. 

The MBA offers helpful tools for understanding TRID. The Mortgage Bankers Association recently announced the launch of its new resources for the Know Before You Owe Rule. 

Consumers, lenders and real estate agents can access free material that helps deepen each party's understanding of the new rule and how it will impact the lending process in the future. 

The succinct and user-friendly resources include two one-page documents catered to either consumers or industry professionals, focusing on how TRID will impact the lending process. While there are resources available to brokers and real estate agents, those looking to apply for a U.S. home mortgage should also have access to materials elaborating on how TRID will impact their experience. Borrowers can also identify how they can ensure a smooth application and closing process when purchasing a new home. 

In addition, the MBA offers a PowerPoint slide deck that professionals can use to further educate their colleagues. 

"MBA has worked closely with the CFPB to create these materials so that both consumers and the real estate community can comply with the new procedures in an efficient and smooth process," noted MBA President and CEO David Stevens. "Our industry has been preparing for these changes over the last several months and we are confident that everyone involved in the closing process will benefit as a result of these new rules."

Those interested in downloading a copy of any of the resources can do so on the MBA's website

The CFPB publishes "Your home loan toolkit." The Consumer Finance Protection Bureau offers interested buyers a detailed guide to both the homebuying and home loan application processes

The brochure was created to help provide a clear understanding of the new lending process, focusing on what an interested buyer should consider when looking to purchase a new home and apply for a mortgage. Consumers can request a hard copy of the booklet or access it on the CFPB's website

With more resources available to those involved in the homebuying process, there should be a smooth adoption of the TRID regulation across the industry. 

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

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Construction and remodeling activity contribute to builders' optimism

An increasing number of first-time homebuyers may be responsible for the optimism many home builders feel in regard to construction and remodeling activity. On Oct. 21, the National Association of Home Builders held the Fall Construction Forecast Webinar. Builderonline.com relayed that economists forecast an impressive increase in the construction of single-family homes over the course of the next two years.

Construction expected to increase. The median price for a house has increased due to the rising demand for homes. As the economy and job situation improves, more individuals feel comfortable applying for a U.S. home mortgage and investing their money in real estate. 

To accommodate today's buyers, more construction is expected in the coming years. Robert Denk, a senior economist at the NAHB, predicted home starts would move past one million in 2016 and further increase to 1.2 million in 2017. 

"It's about population and job growth," Denk said. "We're really in a very different place than we were in the early rounds of the recovery."

Remodeling market index demonstrates improvement. Construction isn't the only industry improving. According to the NAHB's Remodeling Market Index, the third quarter marks the 10th straight quarter above 50, the break-even point. The reading settled at 57 during the third quarter.  

"An RMI above 50 indicates that remodelers still feel positive about the market on balance," said NAHB Chief Economist David Crowe.

The continual positivity industry professionals feel toward the market is good for overall recovery. 

"The sustained confidence of remodelers shows that the remodeling market is gradually strengthening in what has been a longer than anticipated recovery," said Robert Criner, the National Association of Home Builders Remodelers vice chairman. "Smaller jobs remain more popular, but overall remodelers feel positive about the future of the industry."

Again, improving economic and employment conditions are better supporting consumers and allowing them to invest in renovations and improvement projects in their homes. In addition, those who want to sell property may feel remodeling will help attract a higher number of interested buyers. 

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

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Despite confidence, home builders remain cautious

According to a press release from the National Association of Home Builders, multifamily housing starts contributed to the 6.5% increase in all September starts when compared to the previous month.

Building permits dip slightly in September. While housing starts increased, building permits decreased 5% from August. However, building permits are 4.7% higher when compared on a year-over-year basis, according to a joint press release from the U.S. Department of Commerce and the U.S. Department of Housing and Urban Development. 

"Although our builders are gaining confidence in the housing market, they remain cautious about adding too much inventory," said the NAHB Chairman Tom Woods.

In addition, single-family permits decreased 0.3% and multifamily permits edged down 12.1% in September. 

While the South, West and Midwest experienced permit losses of 6.8%, 6.2% and 5.1%, respectively, the Northeast saw an increase of 8.3% when compared on a month-over-month basis. 

Housing starts and completions increase in September. According to the joint press release from HUD and the U.S. Department of Housing, privately owned housing starts increased to 1,206,000. This figure is 17.5% higher than the rate seen a year ago at this time. 

In addition, housing completions increased in September by 7.5% from August and were 8.4% higher when compared on a year-over-year basis. 

"Despite the modest month-over-month differentials in single-family production, this sector has shown gradual improvement throughout 2015," said NAHB Chief Economist David Crowe. "Since January, single-family starts are up 11 percent and we anticipate a similar pace for the rest of this year."

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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