Academy delivers the Gold Standard in customer service, proving to be second to none. Our Loan Officers are easy to access and provide timely response, clear communication, and absolute follow-through. We invite you to put us to the test.
Whether you want to buy a new home or refinance an existing mortgage, Academy has a customized solution for you at historically low interest rates. Our mortgage professionals are equipped with leading-edge technology and tools to satisfy even the most challenging situations with confidence and efficiency.
Cornerstones of Success
When it comes to helping individuals and families achieve successful homeownership, Academy is 1st CHOICE. For over 25 years, we have delivered exceptional mortgage service, in-house loan fulfillment, a broad portfolio of products and tools, and integrity-based mortgage banking.
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-based mortgage lending, its unwavering commitment to responsible lending practices, and for its broad portfolio of mortgage solutions and tools.
Since joining Academy, 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 that my Branch and Regional Offices are equipped to complete the entire loan process in-house—all loan 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.
Read these articles to educate yourself on the mortgage process and industry.
The 30-year fixed-rate mortgage experienced the most significant drop, landing at an average interest of 3.41% compared to the prior week's 3.48%.
Bankrate also reported 30-year fixed-rate mortgages fell from 3.54% to an average of 3.51% on July 7.
Rates for 15-year fixed mortgages also took a hit. Freddie Mac reported them to be 2.74%, compared to 2.78% for the week ending July 1. Bankrate reported rates for these mortgages averaged 2.69%, compared to 2.72% the week prior.
Adjustable-rate mortgages followed suit, falling 0.02 percentage points to 2.68%, according to Freddie Mac. Bankrate recorded 5/1 ARMs to be 2.85%.
"Now is an excellent time for prospective homeowners to dive into the housing market."
Conventional mortgage rates typically depend on Treasury yields, which have been low since the Brexit vote at the end of June. The past two weeks have experienced rapidly falling mortgage rates as a result. Freddie Mac pointed out that in that timeframe, mortgage rates fell 15 basis points, and are currently only 10 basis points above the lowest level that mortgage rates have ever been.
Jumbo loans are also going the way of conventional ones. Bankrate reported the average 30-year jumbo mortgage rate sat at 4.22%, compared to 4.29% for the week ending July 1.
Refinance rates, on the other hand, went up during the first full week in July. Bankrate reported they reached an average of 3.56%, compared to 3.54% one week before. However, this rate is still relatively low and would likely represent a great deal for homeowners interested in refinancing their loan.
Preparing for the future
Given these low rates, now is an excellent time for prospective homeowners to dive into the housing market. Making a home purchase when rates are at nearly all-time lows could save a a buyer a significant amount of money.
According to Bankrate's Rate Trend Index, more than half of mortgage experts who responded to the survey believe that rates will continue to fall. About one-third don't expect them to change much in the near future, and only 11% think they could begin to creep up.
However, the Brexit vote was completely unprecedented. As such, no one can say for certain what the long-term ramifications of such a move will be, or how the market will respond going forward.
"Mortgage rates are stuck in the 'down' elevator," Holden Lewis, Bankrate.com's assistant managing editor, responded. "We don't know what rate represents the ground floor. Even though I predict that mortgage rates will fall, I still suggest that you lock when you can lock without paying a fee."
Homeowners who are considering refinancing and anyone weighing a home purchase would be wise to act fast and secure these low rates. Many already are: According to Bankrate, mortgage applications increased more than 14% over the past week.
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.
Latest report shows housing market continued to improve in November
A report released Jan. 26 showed some housing data that surprised industry experts. The S&P/Case-Shiller 20-City Composite home prices in November increased by 5.8% year over year. CNBC reported prices increased faster than previously expected.
This is 0.3 points higher than the same statistic in October. The S&P/Case-Shiller U.S. National Home Price Index, which covers each of the nine U.S. Census areas, also increased year over year in November compared to October, according to a press release from S&P Dow Jones Indices. The data showed prices increased 5.3% from last year, compared to the 5.1% increase seen in October.
"Home prices extended their gains, supported by continued low mortgage rates, tight supplies and an improving labor market," David M. Blitzer, the managing director and chairman of the Index Committee at S&P Dow Jones Indices, explained in the release. "Sales of existing homes were up 6.5% in 2015 vs. 2014, and the number of homes on the market averaged about a 4.8 months' supply during the year; both numbers suggest a seller's market."
Growing cities. Blitzer explained the housing market has been one of the quickest to bounce back after the Great Recession. Since the housing collapse, three cities have rebounded in the past year to heights never before seen:
Dallas, which went up by 9.4%
Denver, which increased by nearly 11%
Portland, Oregon, with a spike of 11.1%
The data also showed month-over-month gains in November. All 20 of the cities in the S&P/Case-Shiller 20-City Composite went up after seasonal adjustment, and 14 of them increased before adjustment.
One influencing factor in the growth of the housing market has been historically low rates, which have remained at near zero for almost a decade. The Federal Reserve's decision to increase the target funds rate, announced in December, could increase residential mortgage rates and affect the housing market's future. However, the increase was was just a 0.25% bump, and rates still remain low. Time reported that industry experts don't foresee the industry sustaining major changes just yet, though.
Still work to be done. Though impressive gains have been made by these cities and the country as a whole, there is still a gap between where the housing market is today and where it was in 2006, before the crash and the recession. According to 24/7 Wall St., the 10- and 20-City Composite indices are still between 11 and 13% down compared to a decade ago. However, compared to four years ago, at the end of the recession, prices are up 34.9% and 36.4% for the 10-City and 20-City Composites, respectively.
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.
For interested buyers, knowing credit for home loans is available is a big factor in whether individuals make a move toward becoming a homeowner. According to the Mortgage Bankers Association, credit availability remained unchanged in February. The Mortgage Credit Availability Index, which showed the congruency between January and February, is a report that analyzes data from a business information standpoint.
"Credit availability was flat over the month," said Lynn Fisher, the MBA vice president of Research and Economics. "Slight declines in conventional programs aimed at low-to-moderate income borrowers were offset by increasing availability of government-backed programs."
The MCAI shows no change in February. The Index remained at 123.8, and was benchmarked to 100 in March 2012. When the MCAI increases, it suggests loosening credit standards. When it decreases, it indicates lending standards are tightening.
Low down payment options become more popular. Down payments are typically the most substantial obstacle interested homeowners must hurdle prior to making the financial commitment to real estate. However, with more lenders offering conventional loans with low down payment options, more individuals can afford real estate investments, noted The Mortgage Reports.
"More than half of the investors in our credit availability data set are now offering some form of a conventional low down payment loan program which is targeted at lower income borrowers and first time home buyers and generally allows a down payment as low as 3 percent." said Fisher, according to the MBA.
With credit availability steady at 123.8 and a high interest among consumers in applying for U.S. home mortgages, the housing market will likely continue to strengthen moving into the busy spring season.
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 a payment today.