Jake Krabbe

NMLS# 877141

Mortgage Loan Officer

Jake Krabbe
Mortgage Loan Officer

NMLS# 877141
State Lic: AZ # 0920357;
15333 North Pima Road
Suite 205
Scottsdale, AZ 85260
Direct: (480) 442-9291
Fax: (480) 374-5216
Mobile: (480) 442-9291
jake.krabbe@academymortgage.com

Academy's My Mortgage App

Welcome to Academy Mortgage!

I'm available 24/7 for all of your mortgage needs. As a native Iowan, I base my career as a mortgage banker on customer service, hard work, and integrity. I moved to Arizona in the summer of 2010 and began my career with Academy in March 2012.

In my first year as a loan officer I was honored with the distinction of Rookie of the Year. I continued my dedication to the industry and was awarded to the Top Producers Club for 2013. With a Relatively short time in the business, I have emphasized helping families into new homes offering conventional, FHA, VA, and USDA loans. My focus on the customer experience has helped to grow my career and extend my network of realtors, home builders, title agencies, and over course satisfied home buyers.

Please don't hesitate to reach out to me with any questions regarding the mortgage process and I look forward to helping you find your next home.

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Jake is on time to get it done, close communication with the client and Agent, when there is a problem Jake addresses it right away and he sends out videos to the client to explain what is going on. Maryann Davis - Realtor

NMLS# 877141

State Lic: AZ: 0920357;

Corp Lic: AZ: BK-0904081;

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President Barack Obama announced plan to lower FHA fees

President Barack Obama announced a plan to provide low-income individuals and first-time homebuyers with an opportunity that makes homes more affordable by lowering the charges associated with mortgage insurance premiums according to Bloomberg.

Lowering Federal Housing Administration Fees provides financial benefits. The annual fees in congruence with a mortgage will decrease 0.5%. Julian Castro, secretary of the Department of Housing and Urban Development, said this can equate to an average annual savings of $900 over the course of the next three years, Bloomberg reported.

"We believe this is striking a very good balance between being fiscally responsible and also enhancing homeownership opportunities," said Castro.

The plan's intention is to help bolster the housing market, and one of the keys to accomplishing this goal is bringing first-time homebuyers into the equation.

The Washington Post reported the popularity of FHA loans has grown five times in five years. 

Appeal to first-time homebuyers and low-income borrowers. Similar to Fannie Mae's 97% loan-to-value option, this proposal would make homeownership more attainable for first-time homebuyers.

The Capital Gazette noted the number of members of this demographic who are purchasing homes has fallen significantly over the past few years. The percentage of young adults aged 18 to 34 who own homes dropped 2-3% since the 1990s. Without their participation, housing market recovery proves to be particularly difficult.

Additionally, the Capital Gazette noted when an individual purchases a home, he or she contributes to the economy in additional ways. Appliances, furniture and other home goods are essential materials needed after purchasing a new home and if consumers are buying these materials, they may also help bolster the economy. 

Millennials continue to provide hope for a housing market recovery. Their participation in the market is crucial. Mortgage companies and banks strengthened lending policies after 2008. This circumstance, a tough economy and college education loans prompted this generation's hesitation to purchase homes.

Bloomberg reported the U.S. economy is strengthening. The dropping price of crude oil assists with decreasing the demand for imports. Michael Gapen, chief U.S. economist at Barclays, based in New York, relayed that the U.S. economy is especially promising right now, according to Bloomberg.

In addition, impressive job growth may encourage the purchase of homes and household items. Bloomberg's survey of economists estimated that the total number of jobs added last year would equate to approximately 3 million. The survey also concluded that unemployment would to fall to its lowest rate since June 2008.  

Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2013 CoreLogic Marketrac Report. Visit www.academymortgage.com to find a loan, get a rate, or calculate your payment today.

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Benefits of and what to consider when investing in college town real estate

Investors and parents alike have developed an interest in purchasing real estate in college towns. Some benefits are present with an investment of this nature in addition to some risk associated with the decision to purchase real estate in neighborhoods and cities near an educational institution. 

Stability in demand for rentable real estate present near colleges. Regions with a college situated nearby provide an opportunity for investors to gain profits. Students and faculty will raise the demand for housing options in the area.

RealtyTrac, an online real estate company, ranked the top 10 college towns for flipping properties. The towns included on its list solidified top spots due to 2012 enrollment indicated by the National Center for Education Statistics and an unemployment rate below 6.2%. RealtyTrac gathered the unemployment rate from June 2014. Zillow, another online real estate company, determined top college towns to invest in properties and homes based on the number of students compared to the total population - preferably over 24%. Investors should consider similar factors when deciding to purchase a property.

Some of the top college towns to invest in include: 

The demand for rental options and housing has steadily continued to rise. This heightened market drives up prices while the values of homes continue to recover from the start of the housing downturn in 2008. Freddie Mac, a government-backed enterprise, showcased the continually decreasing and historically low interest rates associated with U.S. home mortgages. If executed properly, an investment in property located near a college or university may accrue wealth. 

Purchasing real estate for your college-aged child gains popularity. Research from Zillow indicated in some cases, buying college homes may be a better investment than the expenses associated with renting or paying for a room in a residence hall.

Many parents are also purchasing homes with the intention of moving after their sons or daughters have graduated, according to Ed Feijo, a Coldwell Banker sales associate, reported Forbes.

This is a particularly appealing option if a parent is interested in long-term ownership. If a parent is considering a real estate purchase of this type as a long-term investment, this may be a valid option due to higher rental costs and lower mortgage rates and monthly bills.

Additional issues arise when owning property in a college town. While students are eager to sign leases during the months when school is in session, vacancy may present an issue during summer, according to Zillow. An investor may have to purchase additional insurance for an unoccupied building, and this can create an issue if income ceases over the academic break.

Forbes also noted the importance of budgeting for repairs. Rental units in college towns may experience a bit more wear and tear than a typical residential space.

In addition, a property manager is likely necessary if the investor does not reside in the area.

Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2013 CoreLogic Marketrac Report. Visit www.academymortgage.com to find a loan, get a rate, or calculate your payment today.

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Completed foreclosures drop 13.7%

The number of completed foreclosures dropped in December 2014, according to a national foreclosure report released by CoreLogic, a leading financial, property, and consumer information and analytics company. An improving housing market and the implementation of programs to help limit completed foreclosures may be responsible for the drop. 

This decline may encourage consumers' optimism in the housing market and ultimately further bolster the condition of national real estate. 

Completed foreclosures noticeably fall. The number of nationwide foreclosures dropped from 46,000 in December 2013 to 39,000 in December 2014. This 13.7% year-over-year decrease may signify continual improving conditions in the housing market and U.S. economy at large.

"The steady decline in the number of completed foreclosures is a good sign of healing in the U.S. housing market," said the president and CEO of CoreLogic, Anand Nallathambi. "Nonetheless, there remain many pockets of the country with very high foreclosure inventories, underscoring the unevenness of the nation's housing recovery."

HousingWire emphasized that while the number of foreclosures is still higher than the average before the housing market crisis, this progress bodes well for homeowners and real estate.

Programs implemented to help cut down the volume of foreclosure activity. The decreased number of total completed foreclosures may be due to an improving housing market as well as programs the government has developed to help individuals who may face foreclosure. The U.S. Department of Housing and Urban Development noted that the Obama administration enacted a number of programs to help alleviate the risk of foreclosure. The Making Home Affordable Program, Home Affordable Modification Program, Second Lien Modification Program and Principal Reduction Alternative are among the strategies officials implemented to help stabilize the real estate market.

These different programs provide individuals with options when foreclosing on a home becomes a significant threat. Each program can offer assistance to people who may be underwater, need to refinance for a more affordable home loan or must find a way to transition into a more affordable housing option. If homeowners are having difficulty making payments, HUD suggested that they reach out to their mortgage company to discuss options before it is too late. Homeowners do not have to feel trapped with new programs available.  

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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