Raleigh-Triangle

7901 Strickland Road Suite 104
Raleigh, NC 27615
Local: (919) 827-0506
Local: (919) 845-2970

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Welcome to Academy Mortgage!

Academy Mortgage, founded in 1988, is one of the top Independent Mortgage Lenders for purchase loans in the United States according to the 2013 CoreLogic Marketrac Report. We offer local processing, underwriting, and closing to streamline your mortgage process. Whether purchasing or refinancing, Academy Mortgage will customize a mortgage solution tailored to your individual needs.

Academy soars ahead of the industry by continuously delivering the Gold Standard in customer service. Our Loan Officers in Raleigh, NC are easy to access and provide timely response, clear communication, and absolute follow-through. Our long tradition of customer satisfaction with our Realtor, Builder, and other Partners is affirmed year-after-year in our quarterly Partner Satisfaction Surveys.

Please contact us to see how we can help you achieve successful homeownership!

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

Corp Lic: NC: L-143680; VA: MC-5196;

www.nmlsconsumeraccess.org;

Housing market and strengthening economy are good news

Many home construction company gains occurred during periods of low U.S. home mortgage and other related rates. CNBC reported iShares Home Construction ETF saw a 7.6% average return, Masco averaged around an 8.4% gain, D.R. Horton reported an 8.7% average return, Lennar gained 10.1% and PulteGroup saw the highest average return of  14.8% during low rate and strong growth periods. 

Historical evidence for improvement of housing-market-related stocks. CNBC took a look at previous situations to determine a projection for the future of the housing market. In 1980, the 10-year Treasury yield dipped under 2.5%, and gross domestic product teetered above 2%. The result of these two numbers meeting instigated four quarters when home? builder stocks skyrocketed. This pattern could be mimicked in 2015.

Kiplinger, a business forecasting and finance advising company based out of the District of Columbia, reported GDP at 2% during the fourth quarter, MarketWatch noted that the current 10-year Treasury dropped to 2.19% Dec. 30. These conditions mimic those observed previously and lead economists to forecast a great year in 2015. 

Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2013 CoreLogic Marketrac Report. Visit www.academymortgage.com to find a loan, get a rate, or calculate your payment today.

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Mortgage rates altered by oil prices

The drastically dropping price of oil has led to low gas and energy costs. According to Nasdaq, an American stock exchange, crude oil is selling for less than $60 a barrel at the end of December. The effect of lower trading value impacts more than just the price paid at the pump. Less expensive oil has the potential to lower the prices throughout the entire U.S. economy.

Crude oil's impact on residential mortgage interest rates. The New York Times noted interest rates are especially sensitive to inflation. In mid-June, barrels sold for approximately $115, while current prices bounce around in the $60 range. The Times reported that Keith Gumbinger, vice president of a financial publisher, noted cheaper oil lowers the general cost of most products and services, which causes inflation to fall as well. Consequently, lower inflation may instigate a decrease in interest rates. 

Gumbinger also relayed that the length of time low oil prices will keep U.S. home mortgage rates low is questionable. 

How low are US mortgage rates? Freddie Mac showed an average interest rate of 3.83% for a 30-year fixed rate mortgage and 0.6 in fees and points during the last week of December. The typical 15-year FRM remained low at an average 3.10% interest rate and also displayed 0.6 in fees and points. 

Historically, mortgage rates have been much higher. In December 2007, just before the housing crisis in 2008, the average interest rate for a 30-year FRM sat at 6.10%.

In 2013, Forbes predicted that 2014 would bring about an interest rate of approximately 5.5%. The current mortgage rate is an intense contrast to this particular forecast. 

"The 30-year fixed mortgage rate dropped to its lowest point of 2014 this week," said Frank Nothaft, vice president and chief economist at Freddie Mac. "Mortgage rates fell along with 10-year Treasury yields, which closed at their lowest level since May 2013."

A strengthening U.S. economy may bring up interest rates in the future, but as previously mentioned by Gumbinger, no one can be certain of what will rise and what will fall in the upcoming year. 

The Times called the link between dropping oil prices and lower mortgage rates cloudy and complicated, but economists predict that rates will remain low well into the next year 2015. 

Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2013 CoreLogic Marketrac Report. Visit www.academymortgage.com to find a loan, get a rate, or calculate your payment today.

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BASIC TIPS for GETTING a MORTGAGE

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.

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