Tucson

5210 East Williams Circle Suite 500
Tucson, AZ 85711
Local: (520) 448-5555
Fax: (888) 622-3629

Payment Calculator
$
Yrs.
%
Calculate
$

Welcome to Academy Mortgage!

It’s all about service at Academy Mortgage, and our company has been meeting the needs of homebuyers across the United States since 1988. We understand how important a home investment is to you and the impact it will have on your life. Therefore, 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.

OUR TEAM

Corp Lic: AZ: BK-0904081; CO: 3113; CA: 4170013;

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

Builder confidence increases again in September

The National Association of Home Builders indicated builder confidence in the market for newly constructed homes continued to rise in September. According to the NAHB's Housing Market Index, September saw a one-point increase to a level of 62 when compared to the previous month. 

Since October 2005, this value has not been higher, which indicates good news for industry professionals, as well as interested homebuyers applying for U.S. home mortgages.

Homebuilder confidence rises. Many builders feel confident in the future of the housing market, as demand is particularly healthy right now. 

"The HMI shows that single-family housing is making solid progress, said NAHB Chairman Tom Woods. "However, our members continue to tell us that they are concerned about the availability of lots and labor."

According to Nationwide's Health of Housing Markets Report, the Leading Index of Healthy Housing Markets (LIHHM) is currently at an index value of 109.1, which suggests a strong market. An index value above 100 indicates a low probability of a downturn. This bodes well for the future of the real estate industry, given national demand levels and affordabiltiy rates.

In addition, the NAHB noted construction of new homes will likely increase to meet current demand for housing. 

"NAHB is projecting about 1.1 million total housing starts this year," said NAHB Chief Economist David Crowe. "Today's report is consistent with our forecast, and barring any unexpected jolts, we expect housing to keep moving forward at a steady, modest rate through the end of the year."

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.

×

Mortgage rates increase for first time in a month

Mortgage rates increased for the first time in a month, according to Freddie Mac's most recent Primary Mortgage Market Survey. As the 10-year Treasury index continued its upward pattern seen over the past few weeks, the 30-year fixed-rate mortgage spiked 5 basis points.

Bankrate agreed, reporting increases in the 30- and 15-year fixed-rate mortgages, as well as the 5/1 adjustable-rate mortgage. The source noted this was the second week in a row that it found rates had increased.

Across-the-board increases

During the week ending Thursday, Oct. 13, the 30-year fixed-rate mortgage averaged:

Meanwhile, the 15-year fixed-rate mortgage averaged:

At the same time, the 5/1 adjustable-rate mortgage averaged:

As always, there are a number of factors at play that could have caused residential mortgage rates to climb in the past week. Freddie Mac pointed out that signs of a healthy economy largely contribute to the upward change.

December hike speculation

Many experts involved in the financial industry foresee a hike in the benchmark federal funds rate in the near future. A Wall Street Journal survey found that 81.4% of respondents believe the Federal Reserve will vote to increase rates during their Dec. 13-14 meeting, one year after their last increase.

When 2016 began, the Fed's plan was to make steady increases to the federal funds rate throughout the year. But certain circumstances made many investors nervous, including a weaker-than-anticipated jobs market and major changes overseas, such as the Brexit vote in June. These factors, among others, held the Fed back from following through on this plan.

Throughout the summer, employment improved, consumer confidence went up and the fallout from Brexit evened out. However, the most recent Federal Open Committee Meeting ended with a familiar vote: no change in rates. The next meeting will fall on Nov. 1-2, just days before the presidential election. As such, many believe a hike at this meeting is unlikely.

However, industry experts anticipate a hike will take place shortly after. CNBC reported that Boston Federal Reserve President Eric Rosengren, who is also a voting member of the Fed, noted inflation is close to the target rate of  2% and the unemployment rate is down, with the potential to improve even more over the next year.

"GDP growth looks like it's going to be strong enough in the second half of the year to ... [keep] the unemployment rate drifting down," Rosengren told CNBC.

"To me, [a December rate increase] seems quite appropriate," he continued.

What the near future holds

With evidence that the economy is doing well and the increasing likelihood of a December rate increase, two-thirds of financial professionals who responded to Bankrate's Rate Trend Index indicated they believe mortgage rates could continue driving upward in the next week.

"Wages are rising, oil prices have gone above $50, and it's looking more and more like a December rate hike," explained Greg McBride, Bankrate.com's senior vice president and chief financial analyst. "All of this is pushing bond yields and mortgage rates higher, but there is a ceiling to it that we are very close to."

Predictions like these should be taken seriously by prospective homebuyers. As rates increase, the total cost of a home also goes up. Those who are considering a home purchase could save money by locking in a low rate sooner rather than later.

Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2015 CoreLogic Marketrac Report. Contact me to find a loan, get a rate, or calculate your payment today.

×

Millennials and the real estate market

According to the National Association of Home Builders, new homebuyers are buying their homes in different ways all across the nation. 

The NAHB analyzed non-conventional forms of financing for new single-family homes in 2014. 

Unconventional financing methods for homes made up 21 percent of all purchases in the West North Central division, 42.5% in the West South Central division and 41% in the Mountain division. 

Cash purchases gain popularity. The NAHB survey indicated that for the first time since 2007, cash purchases became the most popular type of non-conventional financing. 

One-third of all homebuyers in New England unconventionally financed their purchase with cash. This was the highest share in the nation. 

FHA loans allow more first-time buyers to purchase real estate. In addition to paying cash, many buyers are financing new single-family homes with mortgages insured by the Federal Housing Administration. In fact, FHA-insured loans accounted for 10% of the market. 

Buying now is a good decision for millennials. Investing in a new home is a good decision for young adults who can afford a purchase of this size, according to U.S. News & World Report. Low interest rates and the increasing value of real estate indicate the market is healthy and interested buyers are investing in a quality product when purchasing a new property. 

"Buying a home is one of the smartest financial decisions you can make as early as your 20s," said Riccardo Ravasini, managing director of Rava Realty, "because it is inflation-protected and a physical asset that doesn't disappear like stocks can do."

In addition, owning a home has a number of other benefits associated with the purchase. Tax breaks, resale value and home equity are among these advantages. In addition, U.S. News & World Report emphasized the emotional benefit of investing in a home. 

Homeownership invokes a sense of pride and also restores faith in the ability to reach the American Dream.

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.

×