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.


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

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

Millennials and the housing market

Millennials are generally defined as individuals born between 1980 and 1995. The National Association of Realtors indicated these young adults make up 31% of today's homebuyers, so understanding the habits and desires of this demographic is important to industry professionals. 

Realtor.com indicated these young adults will be the primary drivers behind the real estate market in the years to come. 

"People who believe that millennials are disinterested in homeownership are grossly mistaken," said Jonathan Smoke, the NAR's chief economist. "This generation hit the job market during one of the largest recessions of all time, and they've had to work hard to establish credit and save for a down payment. With the older segment just beginning to enjoy living the life that drives homeownership - including marriage and children - now is the most appropriate time for them to consider homeownership. And that's exactly what the latest numbers are showing."

Young buyers enter the real estate market. According to Realtor.com, there are a high number of millennial homebuyers investing in Des Moines, Iowa, houses. Nearly 60% of individuals applying for a U.S. home mortgage in this capital city were between the ages of 25 and 34. 

The Urban Land Institute's survey, "Gen Y and Housing: What They Want and Where They Want It," indicated one of the top-ranking features young adults consider when buying a home is the cost. Other important features included:

Affordable homes with close access to a plethora of restaurants and entertainment attract a higher number of young buyers. Local markets that can offer these perks can expect an influx of millennial prospective homeowners. 

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.


Interest rates remain steady with Fed's latest announcement

The U.S. Federal Reserve reached a decision regarding a potential hike in interest rates on Sept. 17, and the final verdict indicated the key funds rate would remain steady, according to Reuters. 

"Recent global economic and financial developments may restrain economic activity somewhat and are likely to put further downward pressure on inflation in the near term," noted the Fed in its policy statement following the meeting.

Before the final decision was reached, interest rates for home loans remained relatively unchanged when compared to the previous week. 

Fixed-rate mortgages tick up slightly. According to Freddie Mac's Primary Mortgage Market Survey, both 30- and 15-year FRMs increased by 0.01 percentage points. The current average 30-year FRM rose to 3.91%, and the 15-year FRM ticked up to 3.11%. 

Adjustable-rate mortgages see little change. In addition, the average 5-year Treasury-indexed hybrid ARM settled at 2.92%, which is just above last week's average of 2.91%. However, the 1-year Treasury-indexed ARM slid slightly to 2.65% from 2.63%. 

"The Treasury market was relatively quiet this week, and as a result the 30-year mortgage rate barely budged," noted Sean Becketti, Freddie Mac's chief economist.

Current housing market conditions remain strong. The real estate industry has improved greatly since the housing market crisis in 2008. 

"Low mortgage rates help to support housing markets, which continue to bring good news," added Becketti. "The National Association of Home Builders' HMI came in above expectations at 62, which is a ten year high."

The Housing Market Index (HMI) is based on the responses of members of NAHB. It measures the current health of the single-family housing market. 

In addition, even if rates had risen after the Fed's two-day meeting, the broader real estate market would probably not have been impacted too adversely. In fact, Becketti indicated the U.S. is still on track to experience the best year of completed home sales since 2007. 

Buyers should expect low rates to continue. Interested buyers can expect manageable interest on U.S. home mortgages to remain an option, as Becketti anticipates consumers will still have access to low rates for the foreseeable future. 

"While our outlook incorporates a moderate increase in mortgage rates over the next 18 months, rates are likely to remain low by historical standards and should not be a determining factor for most Americans looking to purchase a home," noted Becketti. 

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.


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.