Tucson

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

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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;

Realtors Confidence Index indicates housing market is strong

More individuals are deciding to buy houses due to historically low interest rates and stronger economic conditions. With more housing activity, the market is experiencing improvement. The recently released Realtors Confidence Index from the National Association of Realtors fortifies that the market continues to recover. 

Professionals in the industry indicate confidence in the market. A majority of the survey's nearly 3,000 participants noted they felt "strongly confident" regarding their outlook for the next six months. In fact, the index for single-family and townhome sales were greater than 50, which indicated more individuals felt the market was "strong" than those who believed it was "weak." 

Respondents' outlook for single-family home sales over the course of the next six months was either "strong" or "very strong" across all of the U.S.

First-time homebuyers become more popular. According to the Mortgage Reports, the high demand for real estate is primarily driven by millennials and buyers who have owned a house in the last three years. In fact, first-time buyers made up 30 percent of all buyers, indicated the Realtors Confidence Index. 

Heightened demand encourages higher prices. With more individuals applying for a U.S. home mortgage and deciding to purchase a house, sellers are listing properties at higher prices. A total of 61% of survey participants indicated prices are rising, which is 18 percentage points higher when compared to December 2014. 

Fortunately, a stronger economy, improving job availability, historically low interest rates and a plethora of lending options ensure those interested in purchasing a home can still afford it despite higher prices.

In addition, the U.S Department of Commerce noted construction spending increased, which will ultimately lead to more housing inventory available to interested buyers. In addition, this will also help improve affordability for those who want to invest in real estate. 

Concerns about regulations. The Consumer Finance Protection Bureau is instituting a new regulation called the TILA-RESPA Integrated Disclosures Rule. Many professionals working in the real estate and lending industry have concerns about how this new regulation will impact the closing process. However, on July 21, the CFPB finalized its decision to extend the implementation date to Oct. 3. This will allow lenders and real estate professionals to further prepare for the transition and adopt TRID. 

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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Top 3 factors heating up the housing market

Experts forecast that this summer season will feature robust buying activity within the housing market. According to the National Association of Home Builders, during the first quarter of 2016, the markets in 119 of 340 metro areas either exceeded or returned to their normal levels of economic and housing activity.

The index score rose 0.95 points nationwide, and 86% of all markets improved on a year-over-year basis. 

The top three factors driving this improvement include: 

1. Consumer confidence 

Hopeful homeowners feel better about their personal financial situation and the economy, which gives them more confidence to apply for a U.S. home mortgage. The employment situation also continues to improve, which means consumers are more likely to spend money and drive broad economic growth. 

"Housing markets continue to recover gradually, edged along by a firming economy, solid job creation and low mortgage interest rates," added NAHB Chairman Ed Brady, according to the press release. "We expect the housing sector to improve at a slow, but steady pace throughout the year."

2. Mortgages are slightly more attainable 

According to Ellie Mae's Origination Insight Report, more than three quarters of purchase loan applications closed in March. Furthermore, the average time to close fell from 46 to 44 days when compared on a month-over-month basis for all home loans.  

"More than three quarters of purchase loan applications closed in March."

Freddie Mac and Fannie Mae have also relaxed down payment guidelines so creditworthy applicants who aren't able to make a 20% down payment for a home are still able to qualify for financing. 

3. Rental market remains tight  

Many millennials, in particular, are finding that buying a home is more affordable than renting in some regions. According to the Mortgage Bankers Association, 6 million would-be homeowners are renting instead of owning due to circumstances stemming from the financial crisis that began in 2006.

"Demand for rental housing has greatly outstripped supply, rapidly pushing vacancies down and rents up even as incomes fell," noted Lynn Fisher, vice president of the MBA's Research Institute for Housing America, according to the press release. "In the middle of the last decade, right as the millennials were anticipated to begin forming their own households and increase demand for rental housing, the supply side of the market stalled due to the turmoil in credit markets."

The affordability crisis in rental housing may push many of those potential homeowners into the purchase market - especially with lower down payment options available through Freddie Mac and Fannie Mae. 

With strong consumer confidence, attainable mortgages and tighter conditions in the rental realm, the housing market will continue to boom, making for a busy buying season in 2016.

When members of this new buying wave are ready, they'll want to turn to loan officers who can offer expertise and guide them through the loan application and home financing processes. 

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.

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The Real Estate Landscape: Then and Now [Infographic]

If you're in the market for a new home today, you have probably researched the latest residential mortgage rates and average home prices. These are important statistics to know. After all, a home purchase is one of the biggest investments you'll make in your life.

When you've surrounded yourself with information about today's housing market, it can be hard to put it all in the proper perspective. But today's housing market is actually quite a bit different than it was just a few short years ago. In some ways, this has benefited homebuyers today, while in others, the market five years ago was more ideal.

The buying landscape

In 2011, the average mortgage rate for the first nine months of the year was 4.61%. Over the course of the past five years, rates have fallen considerably. The average rate for the same period in 2016 was just 3.59%.

While rates were significantly higher, homes generally were priced lower. The median home price in 2011 was $227,200. By 2015, the median price had grown to $296,400. Perhaps this has contributed to the decline in the number of cash buyers. In 2011, 43.3% of buyers made their home purchase in cash - the highest amount ever recorded. Today, that number is just 30%.

Real estate market movement

The market as a whole is more active than it was five years ago, too. Over the past half-decade, the post-recession real estate industry has made great strides. In 2011, the effects of economic downturn were still very evident, but today, the economy is in a much more stable place. The employment rate is up and many industry experts have stated that the housing market has fully recovered. These factors could certainly explain why more homes are built and sold today than in 2011.

In 2011, 447,000 new homes were built. In 2015, 648,000 new homes were completed, giving homebuyers more options in their hunt for their forever home. Likewise, fewer homes were sold in 2011. During the first eight months of that year, 209,000 houses were sold. Between January and August of 2016, 401,000 homes were sold, marking a vast improvement.

A lot can happen in just five years. Chances are, your life looked much different then than it does today. However, some things aren't as affected by time as others. For instance, five years ago, Academy Mortgage was helping people buy their perfect home, just like we do today. In fact, this hasn't changed since 1988, when we first started in the mortgage industry, and we don't plan on changing any time soon.

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.

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