Product Solutions for Today’s Unique Market
As a premier mortgage lender, we love to find solutions for unique situations for homebuyers. Because not every homebuying instance fits into a specific mold, we’re thrilled to share some of our distinct loan packages for all types of circumstances.
Academy’s One-Time Close Construction Loan
Dreaming of buying a lot and building your own home with the builder you’ve decided is right for you? Consider our One-Time Close Construction option. With this loan we combine a typical construction loan with the 30-year permanent loan and merge it all into a single loan closing.
What this means for you is that there’s no extra step of re-qualifying for a loan once construction is complete. Not only that, it reduces risk, gives you a fixed interest rate, reduces closing costs (because you only close once!), and cuts out pesky surprises that a second appraisal may bring about.
HomeReady® by Fannie Mae
If you haven’t heard of HomeReady, we’re thrilled to tell you about it. HomeReady is designed to help buyers get into homes by giving assistance to low-to-moderate income families with amazing features like a low down payment, reduced mortgage insurance requirements, and by accepting funds from flexible sources (like gifts, grants, and cash on-hand) for the down payment. Best of all, this program doesn’t require the borrower to be a first-time homebuyer.
Fannie Mae HomeStyle® Renovation Loan
The HomeStyle Renovation loan helps homebuyers get the best out of their investment by combining the cost of their home with the costs for renovation or remodeling. This one really shines because it’s all just one application, one closing, and one monthly payment.
As if these products aren’t amazing enough on their own, things get really interesting when we do some power combinations. Like, for instance, when we combine the HomeStyle renovation loan with a HomeReady 3% down payment loan. This means you can get that fixer upper and do something with it. Make it fabulous, make it your dream home. Best of all, it works out to be just one application, one closing, and one payment a month.
What can Academy Mortgage do for you? As you can see, there’s so much we offer and we’d love to give you more than this brief glance into our repertoire.
I want to understand the mortgage process better.
- Calculating Your DTI
- Appraisals vs. Home Inspections
- Four Benefits of Working With a Real Estate Agent
- Product Solutions for Today’s Unique Market
- What is a Home Mortgage?
- FAQs About Mortgages
- Fixed vs. Variable
- Conventional Mortgages
- Residential Mortgages
- Tips for a Simple Loan Approval
- E-Consent and E-Sign
- Viewing the Closing Disclosure
- Do I Need Flood Insurance?