2035 Lakeside Centre Way 100
Knoxville, TN 37922
Local: (865) 281-3220
Fax: (866) 683-4611

Payment Calculator

Welcome to Academy Mortgage!

Welcome to the Academy Mortgage, Knoxville homepage. Located in beautiful East Tennessee and in the heart of the Smokey Mountains. 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 Tennessee.



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

Corp Lic: TN: 109446;

What You Need for Your Loan Application

Use the following checklist to be sure you have everything you need for your loan application.

o Purchase Contract (for the purchase of your new home)
o Sales Contract (if you are selling your current home)
o Certified copy of the closing statement (if you have sold your home)
o All original paystubs for the last 30 days (showing your name, Social Security number, and year-to-date earnings)
o Original copies of your most recent two years’ W-2s and complete tax returns
o Proof of other income: Tips, Social Security payments, and investment income (if any)
o If you have a rental property: Your current rental agreement and your most recent two years’ tax returns with all schedules
o If you are self-employed or receive a 1099: Your most recent two years’ tax returns with all schedules and a year-to-date profit and loss statement and balance sheet
o If you own 25% or more of your corporation: The corporation’s most recent two years’ corporate tax returns with all schedules and a year-to-date profit and loss statement and balance sheet
o If you are commissioned: Your most recent two years’ tax returns with all schedules and year-to-date employee business expenses
o Information on residence history (for the past two years)
o Information on all outstanding loans and credit cards
o Originals of your last three months’ bank statements for all accounts
o Information on real estate you currently own
o Information about other personal property you own
o Copy of your driver’s license and another form of identification (Social Security card, passport, etc.)
o Payment for appraisals and credit report fees
o If divorced: All divorce papers
including marital termination agreement and final decree (signed by the court)
o Original certificate of eligibility and DD214 (VA loans only) ×


A home purchase can seem like a daunting task, so it’s important to take it step by step and know that help is out there to streamline the process. Sure, you might have been saving money for years, but what else can you do to help fulfill your dream of owning a home? It starts by applying for a mortgage. Mortgages are designed to help individuals and families purchase a house when they otherwise might not have been able to.

Prepare to apply. In order to apply for a mortgage, you will want to do your homework first. This means knowing exactly where you stand financially. Assess your household budget and savings, seeing just how much you can afford to spend on a down payment. From there, you want to request your credit report. This will have a significant impact on what the interest rate will be on your home loan and whether or not you qualify for a purchase at all. Your credit score shows a lender essentially how trustworthy you are. While a poor credit score will hurt your chances of obtaining a low rate, don’t let it completely discourage you. There are ways to purchase a home even with a less-than perfect score and ways to raise your score.

Get pre-qualified. Once you know you want to purchase a home, you will want to consider getting pre-qualified for a mortgage immediately. This can help speed up the process, not to mention help you avoid potential headaches down the road. For example, you might have found the home of your dreams, but getting approved for a mortgage could take some time, something that could cost you an opportunity at purchasing. A pre-qualification will last 90 days, ensuring you are all set when you finally decide to pull the trigger on a purchase.

Finding a home. After you’re pre qualified for a loan, you’ll know how much you can afford. Now you can begin searching for the home of your dreams, without having to worry about whether you’ll actually be able to make a purchase.

Final loan approval. You will receive final approval for a home loan if you have a good credit score and debt-toincome ratio. Keep in mind that approval could depend on certain financial or property conditions that need to be met first.



What’s the Difference?

When purchasing a home, buyers may receive two property-related reports to consider—a home inspection and a home appraisal. These reports serve completely different purposes, and one is optional and one is required by Academy Mortgage.


This report is ordered by and completed solely for the individual(s) purchasing the home. It helps determine the condition of the property and its systems in great detail. It is not required by Academy and is, therefore, optional.

Home inspection costs vary depending on the complexity of the inspection and the size of the home being inspected.

A home inspection is ordered by the buyer and his/her agent with an inspector of their choosing shortly after the buyer’s offer is accepted. Most states’ real estate contracts stipulate that the buyer has 10 days from the date of contract acceptance to complete the inspection and communicate any issues to the seller.

The home inspection report is generally delivered to the buyer within 24 hours from the time the inspection was completed.


This report is required by Academy when a home purchase is being financed. The appraisal is used to determine the fair market value and the general physical condition of the property being purchased.

Home appraisal costs vary slightly depending on the size of the home and whether the home will be an investment property or a primary residence.

Academy typically waits to order the appraisal until after the home inspection is completed (if the buyer decides to do a home inspection). Per government-regulated guidelines, Academy is required to randomly assign an appraiser to an appraisal order.

Typically, a home appraisal report is delivered to Academy within 5–7 business days from the time it is ordered.