Holly McNeely

NMLS# 1235847

Loan Officer

Holly McNeely
Loan Officer

NMLS# 1235847
State Lic: TX # 1235847;
5665 Dallas Parkway
Suite 250
Frisco, TX 75034
Direct: (972) 838-3230
Fax: (469) 304-9103
holly.mcneely@academymortgage.com

Holly was awesome and communicated with us constantly. The rate was great.Andrew Young
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Welcome!

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.

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NMLS# 1235847

State Lic: TX: 1235847;

Corp Lic: TX: 3113;

Figure: 7 TAC §81.200(c) CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT'S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT'S WEBSITE AT WWW.SML.TEXAS.GOV.;

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How to beat the competition this homebuying season

The housing market is a competitive one, requiring prospective buyers to be on top of their finances and paperwork. Indecision or a failure to present certain documentation can mean the difference between getting the house of their dreams or having to continue their search elsewhere. Here are five ways people can beat the competition this season:

1. Get pre-approved

Unless you're a member of the small population of Americans who own their homes outright, you'll need a conventional mortgage. Once you find the home you want, things will move fairly fast. To lean into this process and improve your chances of closing on your desired property, potential homeowners should get pre-approved for a loan, Time magazine recommended. This, along with other necessary paperwork, will demonstrate that you are able to repay the money you're borrowing and will make sellers feel more comfortable choosing your bid.

2. Be present

It's common for prospective homebuyers to send in their offers via email or over the phone. While these are sometimes the only routes possible for certain people, presenting your bid in person could be beneficial to your success, according to Inman. The ability to see the buyer in the flesh and learn a little more about him or her could convince seller or agents that you're the right fit.

3. Introduce an escalation clause

Nervous other prospective buyers will outbid you? Others could be just as hungry for the same property, but you may not be able to meet their price - or they may not be able to match yours. An escalation clause enables you to play this cat-and-mouse game while also ensuring you don't push past your final limit. This effort will increase your bid incrementally above others on the table to a certain, pre-established ceiling. Just don't forget to set your budget and stick to it, Realtor.com warned.

An escalation clause will raise your bid incrementally.An escalation clause will raise your bid incrementally.

4. Find the right team

No matter whether you're a first-time homebuyer or have completed the process in the past, you're going to need all the help you can get. It's important to complete your own research and determine which housing factors are must-haves, but working with savvy professionals in the housing market can help answer all of your most particular questions along the way. An agent or a mortgage broker can make the bidding and homebuying process that much easier and can work their magic with the seller's team as well, according to Business Insider.

5. Don't let pending contracts scare you

It happens more often than you would think. A prospective buyer's bid on a home is accepted and a contract is being drawn up, only to have the person back out before he or she signs on the dotted line. If your dream home is already in the near-final stages for someone else, don't let that deter you. Place a backup offer anyway, according to U.S. News and World Report. It could work out in your favor and place you in the top spot if the initial bidder makes a different choice. 

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

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3 sources of down payment funds that aren't your savings

Thousands of Americans make the move to homeownership every month. But buying a home isn't always simple. In fact, it can often become confusing and stressful.

What is making the buying journey difficult for consumers?

For many, saving up for the down payment is the most challenging hurdle to overcome, as cited by 13 percent of people who participated in a survey by the National Association of Realtors.

And, though it's become more widely known that the "standard" 20 percent down payment isn't always necessary, many still struggle to save up.

But, did you know there are more ways to come up with the funds for a down payment than simply through savings?

Here are some perfectly sound yet commonly overlooked means to funding your home purchase:

1. Explore a zero-down mortgage program

For the average conventional mortgage, borrowers who put less than 20 percent down are charged an added fee called Private Mortgage Insurance. However, the conforming mortgage isn't the only financing path consumers can take.

Several programs that are backed by the government allow qualifying borrowers to take out a mortgage without making any down payment at all.

VA loans are for active-duty service members, veterans and spouses of those who fit these two distinctions. Eligibility rules are based on date and duration of service, and not everyone qualifies. However, it's worth checking out; no down payment is required, and neither is paying PMI.

USDA loans are granted to buyers looking in a qualifying area - often rural or suburban locations - and under a certain income limit. The actual limit varies state by state, county by county. Like VA loans, there's no required down payment or PMI.

FHA loans aren't zero-down mortgages, but the down payment can be very low if your credit score is above a certain threshold. If your score is higher than 580, you're only required to put down 3.5%.

2. Save gift money for a home

If you've recently gotten married or had a baby, you perhaps received financial gifts from family and friends. Though commonly believed to be off-limits for home purchases, this cash is actually perfectly fine to help fund your down payment.

Though considered a wedding-planning faux pas for many years, stating your preference for a cash gift is becoming more widely accepted today, according to The Knot. You'll still want to set up a traditional registry for those guests who really would rather pick out a gift and you should steer away from naming specific amounts, but it's unlikely that many of your guests will truly be offended at your request.

3. Sell something

More than one-third of respondents to NAR's survey for its 2016 profile of home buyers and sellers said their down payment came from the sale of a primary residence. If you're already a homeowner, it's pretty common to use the proceeds from selling the home as a down payment on your next purchase.

But what about those first-time buyers who don't have a house to sell yet?

Take a look at your other assets, Money Talks News suggested.

Do you have an extra car? What about a motorcycle? Too many flat-screen TVs, or simply an attic full of stuff? Maybe one of these items isn't worth much, but a whole attic-full might be.

Is a lack of savings keeping you from realizing your dreams of homeownership? Don't let your goals become delayed because of a shortage of cash. There are plenty of options to obtain the funds for down payment.

To learn more about how to become a homeowner this year, reach out to Academy Mortgage.

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

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Millions will see their credit scores rise this summer

In a joint decision, the three largest credit reporting bureaus (Equifax, TransUnion and Experian) agreed to modify their rules about what to include in the credit score algorithm, The Wall Street Journal reported. Beginning July 1, 2017, certain tax liens and civil judgments will no longer be included in the calculation in some instances.

Complaints prompt a calculation change

For many people hoping to take out a residential mortgage, maintaining a low credit score can be a source of stress or concern. In some cases, it just takes one financial mistake to have a major impact on your perceived creditworthiness. In other cases, a reporting mistake made not by the consumer but by a credit bureau can bring down someone's credit score.

Consumers have the option - and are encouraged - to refute mistakes or incorrect information on their credit reports. In fact, every year, thousands file related complaints against the three largest credit reporting bureaus. However, a large number of these people find the process for making corrections to be long, complicated and often fruitless, the Consumerist reported.

As a response to a growing number of disgruntled consumers who still have yet to see progress on correcting their scores, the three bureaus decided to change the parameters of when to include tax liens and civil judgments, and when to leave such information out.

Previous to this agreement, the criteria for including these financial events were simply name, birth date, social security number or address. Many bureaus report they only have one or two of these pieces of information, which can easily lead to attaching one person's tax lien to another person's report, if the two have similar names or addresses.

Going forward, the bureaus will only include tax liens and civil judgments if they include the person's name, address, and either a social security number or birth date. If fewer than three pieces of information are available, the event will not be included in the credit report. Additionally, any events that don't meet this criteria but are already included in consumers' reports will be removed.

Potential downsides to better scores

Come July 1, an estimated 12 million Americans will see a bump in their credit scores as a result of this adjustment. Nearly 92 percent of these consumers will experience a minimal boost of around 20 points.

Depending on what their beginning score was, though, this could be enough. Many lenders reserve their best rates for people with scores of 740 or higher, while consumers with scores lower than 620 often experience difficulty getting approved for a loan at all, Bankrate reported.

Others may get a bigger upgrade of 40 points or more. Around 700,000 consumers are expected to get this advantage.

At first, a credit score increase might seem like a good thing, especially if you're in the market for a residential mortgage. However, some economists caution consumers and lenders alike to not take the change too seriously. A person whose score was lower before the new rules went into effect won't magically become more creditworthy just because the algorithm has changed. If consumers have an unrealistic vision of how large a mortgage they can afford, they could wind up with more debt than they can handle, and eventually default on the loan.

To avoid this, creditors and borrowers alike must carefully evaluate income and their ability to make monthly payments before agreeing to a loan amount and interest rate.

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

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