Alice Thomas was amazing to work with! Would highly recommend her! T Jay Nichols
It’s all about service at Academy Mortgage, and our company has been meeting the needs of homebuyers across the United States since 1988. I joined Academy because of its strong reputation for integrity, its unwavering commitment to responsible lending practices, and for its broad portfolio of mortgage solutions and tools.
Whether you are purchasing a home for the first time or branching out to an investment property, I am here to assist you.
I have been originating loans for over 15 years. Prior to originating, I worked in mortgage loan servicing field and as an escrow closer. I have knowledge of the real estate process from loan origination through closing and also the servicing side. I have helped many individuals and families attain the dream of homeownership. Whether you want to buy a new home or refinance an existing mortgage, I will provide a customized solution for you at competitive rates. No brokering, no middleman, no hassle, no surprises.
Academy is a direct lender, which means my Branch and Regional Offices are equipped to complete the entire loan process in-house. What does that mean to you - processing, underwriting, closings, and funding are handled locally. As a result, we have a proven track record of closing loans as quickly and efficiently as possible.
I will be in control of your loan file from start to finish, and I will be up-to-date on the status of your loan at all times. I understand the importance of maintaining continuous communication throughout the loan process and commit to providing you accurate, timely, and honest mortgage advice.
I invite you to put us to the test. Let me show you how simple and easy securing a mortgage can be.
Aside from working, I love living in Idaho, enjoying its many outdoor activities such as hiking, skiing, and biking. I have 2 grown sons and 3 adorable grandchildren.
Read these articles to educate yourself on the mortgage process and industry.
Interest rates for home loans decrease in the wake of Fed decision
Interest rates for the average U.S. home mortgage slid lower during the week ending Sept. 24, according to Freddie Mac's Primary Mortgage Market Survey. As rates have fallen, the number of homeowners interested in refinancing their current mortgage and those looking to purchase property have increased.
"Global growth concerns and lackluster inflation convinced the Fed to defer a hike in the Federal funds rate. In response, Treasury yields fell about 9 basis points over the week, with some larger day-to-day swings along the way," said Sean Becketti, Freddie Mac's chief economist. "In response, the interest rate on 30-year fixed rate mortgages dropped by 5 basis points to 3.86 percent. Mortgage rates have remained below 4 percent for 9 consecutive weeks and have remained range-bound between 3.8 and 4.1 percent since May. These low mortgage rates have supported strong home sales, and 2015 is on pace to have the highest home sales total since 2007."
Home loan interest rates dip. According to the survey, 15-year fixed-rate mortgages averaged 3.08%, which was down from the previous week's average of 3.11%. When compared on a year-over-year basis, the average rate is 0.28 percentage points lower.
The average 30-year FRM slid to 3.86% after the previous week's average of 3.91%, and this week's average 30-year FRM is also lower than the 4.2% seen at this time a year ago.
Both the 5-year Treasury-indexed hybrid and 1-year Treasury-indexed adjustable-rate mortgages decreased on week-over-week basis.
Mortgage applications rise. The Mortgage Bankers Association's weekly survey for the week ending Sept. 18 indicated applications for mortgages rose 13.9% from the previous week. The share of refinancing applications rose to 58.4% from the previous week, and the share of adjustable-rate U.S. home mortgages ticked up to 6.9% of all applications.
"We saw significant rate volatility last week surrounding the FOMC meeting, and rate declines toward the end of the week likely drove applications from both prospective home buyers and borrowers looking to refinance," said Mike Fratantoni, the MBA's chief economist. "The 30-year fixed rate remained unchanged over the week even though there was substantial intra-week fluctuation, but we saw rate decreases in other loan products like the 15-year fixed, 5/1 ARM, and 30-year jumbo."
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.
Here is a list of useful tips to facilitate an effortless loan process. These DO’s and DON’Ts will help you avoid any delays and costly challenges with your loan approval.
If you encounter a special situation like identify theft, it is best to mention it to us right away so we can help you determine the best way to achieve your goals.
DO call us if you have any questions.
DO provide requested documentation promptly and in its entirety.
DO continue living at your current residence.
DO continue making your mortgage or rent payments.
DO continue to use your credit as normal.
DO keep working at your current employer.
DO keep your same insurance company.
DO stay current on all existing accounts.
DO expect requests for additional documentation throughout the loan process.
DO let us know if you will be receiving gift money before it is deposited into your account.
DON’T change your employment status.
DON’T make any major purchases (car, furniture, jewelry, etc.).
DON’T change bank accounts.
DON’T make any large cash deposits into your bank accounts.
DON’T transfer any balances from one account to another.
DON’T close any credit card accounts.
DON’T consolidate your debt onto one or two credit cards.
DON’T apply for new credit or open a new credit card.
DON’T max out or overcharge on your credit card accounts.
DON’T take out a new loan or co-sign on a loan.
DON’T pay off any loans or credit cards, charge offs, or collections without discussing it with us first.
DON’T finance any elective medical procedure.
DON’T join a new fitness club.
DON’T open a new cellular phone account.
DON’T have your credit pulled or dispute any information on your credit report.
DON’T pack away or store any important documents, even if they aren’t initially requested.
Let us show you how simple securing a home loan can be.
3 smart solutions for a low credit score
When it's time to buy a home, one of the first things you'll likely look into is your credit score. This three-digit number gives lenders a hint as to how likely you are to pay your bills completely and on time.
A higher score means you're viewed as financially responsible to your lender. You could be rewarded with access to certain types of loans, such as jumbo mortgages, or with lower interest rates, resulting in a less expensive home loan in the long term.
A lower score means you could be a riskier borrower - perhaps you've been late on payments in the past, or maybe you already have a good amount of debt you still have to pay off. As such, a lender may either disqualify you from certain loan products or charge you a higher interest rate.
It's important to note that consumers who have lower scores (or even no scores at all) still have options when it comes to securing a mortgage. For example, people with scores as low as 500 can qualify for an FHA loan, according to FHA Handbook.
That said, having a higher score can open the door to more opportunities - both in terms of conventional mortgage products as well as other financial goals, like getting a new credit card or auto loan. If you've recently checked your credit score and aren't impressed with the results, there are some actions you can take to improve your standing. Follow these tips to begin improving your credit score:
Fix mistakes in your credit report
Like any other company, the credit bureaus are prone to human error. With hundreds of millions of adults in the U.S., it's not unheard of for information to be added to the wrong report - if you've ever done a Google search on yourself, you probably know there's someone else out there who shares your name, or at least something close to it.
The first step in any credit repair strategy should be to pull your credit report and look for errors. Identity errors, like listing another Jane Smith's account on your report, are among the most common. Others include accounts listed as open when they've been closed and accounts with the wrong credit limit after it's been increased.
Payment history, including whether payments are made on time and in the correct amount, is the most important factor in your credit score. If you're prone to late payments and you have a lower score, this is probably why.
Create a plan to help you get on track with timely bill payments. A few tried-and-true tactics include:
Set up auto-pay through your bank - just make sure you'll always have enough cash in your account to make the payment.
Create calendar events in your phone to remind you to pay your bill before it's due.
Sign up for text message alerts to remind you to pay your bill before it's due.
If you have a long history of missed or late payments, it may take some time to repair the damage. However, remedying this bad habit as soon as possible will put you on the right path to bringing up your score.
Decrease your credit utilization rate
If you have a credit card, you have a maximum spending limit. This is the amount you can put on your card before it's declined. But that doesn't mean you should put that much on your card or anywhere close to it. In fact, you should aim for a credit utilization rate of 30 percent. This means that you should only ever have a balance of 30 percent of your maximum credit limit.
If you have more than a 30 percent credit utilization rate, focus on paying it down to at least that much. If you have a wallet full of maxed-out cards, paying off all the balances could improve your score by as much as 100 points in one month, NerdWallet reported. While this is clearly the best-case scenario, it just goes to show how important credit utilization is to your overall score.
Are credit score concerns holding you back from pursuing your dreams of homeownership? Don't let that number get in your way. Reach out to your mortgage lender to talk about your options - you might have more than you realize!
Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2016 CoreLogic Marketrac Report. Visit www.academymortgage.com to find a loan, get a rate, or calculate your payment today.