Lynnae Aguilar

NMLS# 210683

Senior Loan Officer

Lynnae Aguilar
Senior Loan Officer

NMLS# 210683
State Lic: UT # 5636574; ID # MLO-19574;
2297 N Hill Field Road
Suite 103
Layton, UT 84041
Direct: (801) 614-5138
Mobile: (801) 336-6167
Fax: (801) 217-3458
lynnae.aguilar@academymortgage.com

Lynnae made the transaction very simple and easy from my first phone call to her. From getting pre-approved so that I could look at homes to the final signing, she was very quick and professional in answering all my questions. Since I am out of state she made the loan process a breeze.Gordon Miller
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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.

ARTICLES

Read these articles to educate yourself on the mortgage process and industry.

VIDEOS

Watch helpful videos to learn more about Academy.

NMLS# 210683

State Lic: UT: 5636574; ID: MLO-19574;

Corp Lic: UT: 5491140-MLCO; ID: MBL-671;

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Is refinancing my mortgage a good idea?

https://academymortgage.com/news/article/industry-updates/is-refinancing-my-mortgage-a-good-idea I want the actual article to beable to post on my website, not the url. ×

Tips for first-time homebuyers

Buying a home for the first time can be an incredibly exciting but also stressful time for those hoping to enter the housing market. A house may be the largest purchase made in a person's lifetime, so it's important that the process go smoothly to prevent unnecessary worry or financial strain.

Here a few things shoppers should know when looking for their first home.

a key with a keychain of a house is being handed from on person's hand to another with an actual house in the backgroundKnowing what you want ahead of time can be greatly beneficial when looking for a home for the first time.

Consider what you want first

It's important to determine what kind of living space works best for you and your family. Do you need a home with bountiful yard space and a two-car garage? Or would a condo in multi-unit building suit your needs? What does the ideal residential neighborhood look like to you? Are there certain home amenities you could not live without? These are all considerations you must take into account before beginning any other phase of the home buying process.

Perform a credit check

Your credit score can affect the kinds of mortgage loans you can be approved for and what your interest rates and loan terms will be once you are approved. USA Today noted that you should check for and subsequently dispute any errors found in your credit report. You should also try to pay off any outstanding debts which could be lowering your score even further.

Lenders often run an inquiry into your credit history when opening a new credit account of any kind, which could adversely affect your score temporarily. To prevent this happening during mortgage applications, do not open any new credit accounts.

Financing and down payments

Determine the total cost of any prospective homes you look at – considering the property taxes, closing costs, insurance, maintenance costs and other factors. This can help guide you in assessing your budget for a potential down payment and your monthly house payment, according to Investopedia.

Weighing your mortgage options is another huge step in the home buying processes. Would a fixed conventional mortgage work best based on your income? Could an adjustable rate mortgage benefit you the most early on?

Down payments also do not have to be at the traditional 20%. Some lenders allow for less but this could result in higher overall costs and paying for private mortgage insurance, according to USA Today.

There may also be tax credits and lending programs for first-time homebuyers, veterans and residents of certain municipalities you can use to your advantage to help lower interest rates and down payment amounts.

Home inspection

Once your loans are approved and you find your dream home, a thorough inspection of the residence still needs to be conducted to ensure it's safe and up to your standards. Hire a professional to inspect the property. If any abnormalities are discovered that were not previously discussed, you generally have the option to rescind your offer or have your deposit refunded.

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.

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Your credit score questions, answered

Before you take out a residential mortgage, your lender will need to review some financial information with you, one piece of which is your credit report.

If you've never pulled your credit report or considered what your credit score might be, this part of the process might make you nervous. It shouldn't, though; your credit report and credit score will simply tell the lender how good you are at paying off debt and how much debt you currently have. The higher your score, the better, but that doesn't mean you won't be able to secure a good home loan with an unimpressive score.

Here's what you need to know about credit scores, credit reports and how they affect the mortgage origination process:

What's a credit score?

Your credit score is a three-digit number on a scale of 300-850. Everyone has multiple credit scores because different credit bureaus calculate them independently. To come up with the three-digit score, the companies use complicated proprietary equations.

Even though they don't share the equations with the public, FICO, the most well-known score-calculating company, explains how different factors impact your score:

What is a "good" or "bad" score?

Generally, scores that are 700 or above are considered good, and scores over 750-800 are considered excellent. These scores indicate you pay your bills on time and know how to manage multiple forms of debt, making you an excellent candidate for a home loan.

Scores of 550-580 or below are considered very poor. It would be difficult to get a loan of any kind with a score like this. If you discover that your score falls into this category, though, don't worry; there are plenty of strategies you can adopt to bring your score up.

Does everyone have a credit score?

No. If you've never opened a credit card or taken out a loan, you may not have a score, meaning you're "credit invisible." This can make taking out a loan challenging, but not impossible.

What score do I need to get a mortgage?

There's no clear-cut answer to this question because different programs have different requirements. People with credit scores as low as 580 may be able to get an FHA loan, and there's no minimum credit score for VA loans. The best thing to do is to reach out to your mortgage lender and talk about your options - you may have more than you think!

What's a credit report?

While many people talk about credit scores, your lender will want to see your entire credit report. There's a difference here; your score is just that three-digit number. The credit report details what factors went into the equation that resulted in your score.

Your lender will likely pull your credit report directly from one or more of the three main credit bureaus: Experian, Equifax and TransUnion. But don't wait for your lender to pull the report to discover what's included in it for yourself. Everyone has access to their own reports through the government-mandated website, annualcreditreport.com. You can get one free credit report each year from each of the three bureaus.

If you've never pulled your credit report, try it today. There's always a chance that there's an error included in it that could affect your score, and it's best to sort that out sooner rather than later. Plus, it's always nice to know what your lender will see ahead of time, so there's no surprises when you inquire about your eligibility for a home loan.

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.

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