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

Great service, going the the extra mile to make a family's dream of home ownership come true. Truly thankful for all your help.Kessia Amaya
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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.

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NMLS# 210683

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

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

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Don't believe these 3 credit score myths

Checking your credit score is generally a good idea before taking out any new credit, like a residential mortgage, auto loan or new credit card. But, according to a survey from MoneyTips, 14% of Americans have never pulled their credit reports, and nearly half haven't looked up their three-digit score in six months.

Not only are many consumers unaware of what their credit score is or how to find out, but many also hold false notions about what the score means. Here are three commonly held myths about credit scores and the truth behind them:

Myth No. 1: Checking your credit will lower it

This is a common misconception that many people hold. It's most likely derived from the fact that a hard pull on your credit report really can lower your score. Unfortunately, however, this myth has caused many people to neglect to check their score or pull their own report for fear of lowering it.

To understand this myth, it's important to know the difference between a hard inquiry and a soft inquiry on your credit. A hard inquiry is when you apply for credit and the lender pulls your credit report.

If you apply for multiple credit cards or loans in a short period of time, thus implementing multiple hard pulls, creditors may interpret that has an inability to secure any credit and is considered a red flag. Therefore, your credit score will drop a few points, CreditKarma reported. It most likely won't be enough to disqualify you for anything you would have been eligible for otherwise.

A soft inquiry, on the other hand, is any time your credit is pulled by yourself or someone who's not seeking to give you credit. For example, your employer or landlord may pull it at some point as part of a routine background check. This won't harm your credit.

You can - and should - check your credit report on your own on a regular basis. You're entitled to three free credit reports every year: one from each Experian, TransUnion and Equifax. Simply order one from annualcreditreport.com, a government-mandated website that provides consumers free access to their credit reports.

Myth No. 2: When you get married, you get a joint credit score

When you get married, you'll combine a lot of things: your kitchenware, your book collection and maybe even your finances. But you'll never get a joint credit score; every individual always has his or her own unique score. Despite this fact, a survey from MoneyTips found that nearly three-quarters of respondents believed that when two hearts become one, so do their credit scores.

However, when you and your spouse apply for credit together, the lender will analyze and make a decision based on both party's scores. As such, it's always a good idea to have the "money talk" with your beau before applying for a home loan or any other form of shared credit.

Myth No. 3: I can't get a mortgage because my credit is too low

Your credit report is one of the many documents your mortgage lender will need to review before finalizing your home loan. The better your score, the easier it may be to obtain a loan, and the lower the interest rate you might qualify for.

However, that's not to say that if you have a low credit score, you can't get a mortgage. According to a survey conducted by Fannie Mae, many Americans falsely believe that a score of at least 650 is required to get a home loan. In fact, Fannie Mae only requires people to have a score of 620. Some programs will even work with prospective homebuyers with no credit history at all.

If you think your score is too low to get a mortgage, don't let that stop you from homeownership. Reach out to your lender to find out if you qualify - there's no harm in asking.

To get more information about applying for a residential mortgage, contact Academy Mortgage. We can help you decipher your credit score and help you discover what loans you're eligible for.

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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10 Common Home Buyer Mistakes

10 Common Home Buyer Mistakes Frank Addessi FEB 16, 2017 Life is full of milestones, from birthdays and anniversaries, to graduations and career advancement. Many of life’s major events happen as the result of hard work, and most are cause for celebration. There are some, however, that are fraught with anxiety. Buying a home, especially a first home, is number one on that list. Find out now: How much should I put down? Even though first time home buyers suffer from nervousness that can cause problems, veterans are not immune to home buying mistakes which can be avoided. Unlike other major events in life that require decision making based on a set of complex factors where through experience over time we become more proficient. Home buying doesn’t happen often enough to rely on personal experience to guide us. Mistake 1 – Ignorance is Not Bliss The first mistake home buyers make is assuming that they are supposed to know and understand everything about the process. This is not to say that ignorance of procedures and protocols should stop you from buying or that not knowing everything thing there is to know guarantees there will be problems. Fixing this problem requires that it exists in the first place. Many home buyers feel that expressing ignorance to a realtor, banker or seller makes them look like an amateur and therefore prone to being taken advantage of. Nothing could be further from the truth. While most people you will deal with are honest, unscrupulous vendors and sellers count on your pride as a means to take advantage of you. Mistake 2 – Eyes Wide Shut Pride and greed are the source of this mistake which is buying more house than you can afford or need. As much as the subprime mortgage crisis was the result of loose lending practices it also depended on buyers willing to delude themselves that they would be able to afford more house than they actually could. Falling victim to this mistake is not nearly as uncommon as you might think and it happens for two very good reasons. We all feel we deserve the biggest and the best and that is normal. Realtor’s are salespeople and they earn their living on commissions, the bigger the sale the bigger the commission. Add one part buyer pride in wanting the biggest and best and the realtor’s desire for the largest possible pay day and you have a recipe for disaster. Avoiding this mistake is as easy doing your homework and budgeting for what you can afford. Stick to your guns and don’t let either the realtor or yourself convince you that you are best served by buying more home than you can afford. Remind yourself and your realtor that if in a few years your circumstances change you can always sell and buy something larger. Mistake 3 – Denial is More Than a River in Africa Finding the perfect home is hard. Finding the perfect home and negotiating a great price is even difficult. Both pale in comparison to finding a great house and negotiating outstanding terms only to be turned down by the bank. Failing to qualify for a mortgage can be costly to more than your ego. It can result in the loss of deposits and other expenses that can run into the thousands. Fixing this mistake can serve two masters, streamlining the buying process and keeping you on budget. Realtors and sellers love mortgage pre-qualification because it signals to them that you are a serious buyer which can also go a long way to improving your negotiating position. Mistake 4 – Money Pit or Pothole Whether they’ve seen the 1986 Tom Hanks movie The Money Pit or not many homebuyers are terrified of being transformed into Walter Fielding, Hanks character who is duped into buying what he thinks is a great deal on a house only to find out that the real reason it is some attractively priced is because it is disrepair. Confusing a moneypit with a home in need of minor repairs, potholes, is not uncommon. Overestimating the cost of repairs can be as big a mistake as underestimating. Finding a ready to move in home is not always possible or the best deal which is why as part of the buying process finding a reputable contractor can be as important as getting the right banker and realtor. Mistake 5 – The Grass is Always Greener No-one is perfect. We don’t expect perfection from ourselves or others. In fact when it comes to people we like a little imperfection it gives us character. Well the same is true for homes. When shopping for perfect house don’t let the perfect become the enemy of the possible. No house, unless you have an unlimited budget and time and are building from the ground up is perfect, period. Mistake 6 – The Eye of the Beholder As far as my wife is concerned I am the most handsome man in the world. The reality, I’m afraid is somewhat different. My point is that beauty is a matter of personal preference and I may love the paisley wallpaper in my master bathroom and it make give you motion sickness. Wallpaper, paint, carpet, really anything that is not structural in a home can be removed and replaced with something that is more pleasing to your personal aesthetic. Just be sure to factor the cost of revisions into your purchasing budget. Mistake 7 – For Richer or Poorer While buying a home is not a lifetime commitment it is a long term promise with very real potential consequences for an untimely ending of the relationship. Buying a home is not a once and done proposition and the costs of home ownership are greater than the mortgage and property taxes. Don’t make the assumption that because the bank thinks you can afford the home that you can. Failing to factor in all you ongoing expenses is a sure fire way to wind up in foreclosure. Anticipate as many expenses as possible when determining your budget, including heating and cooling, repairs and upkeep, improvements and don’t forget things like commuting. After all a house in the country may be less expensive than the city or suburb but it will be significantly more expensive to commute. Mistake 8 – Surprise! You’re expecting triplets! The neighbors just sold to Walmart and they’re putting up a shopping center right next door. Where did all this traffic come from? Surprises come in a variety of forms, some are our own doing, like children and some are not. When shopping for a home you may not be able to anticipate everything but you should never be shy about asking questions. Talk to prospective neighbors, and municipal officials about zoning and planning, drive around the neighborhood and ever widening circles to get a feel for the surrounding area. Visit at different times of day and if possible different times of the year. The bottom line is the more you ask and research the less likely you are to be surprised. Mistake 9 – Blind Faith As I mentioned earlier, most of the people you will deal with during your home buying experience will be decent, honest individuals who can be trusted. In a perfect world, we all could just assume that because realtor A did a great job with your brother-in-law and Banker B got your best friend an amazing interest rate doesn’t mean that the same will hold true for you. In international diplomacy the term Trust But Verify means that while one party would like to believe that information being provided is accurate they would still like to see it with their own eyes. The same holds true for buying a home. Trust your banker, realtor, the seller but verify as much as possible independently. Mistake 10 – Make a Wish Birthday wishes and wish lists are fantasies. They are hopes and desires and wonderful dreams to be held dearly. But they are dreams and not all dreams can or do come true. The final mistake home buyers make is wishing. Whether it is trying to find a home with every single item on their wish list checked or wishing that they’ll be able to afford monthly expenses that exceed their monthly income, wishes should be limited. The final and biggest mistake is wishing because it covers a range of possibilities but it the danger of it can be summed up in one word, reality. When all is said and done you will have to live with the reality of your decisions and no amount of wishing is going to change that. Photo Credit: ©iStock.com/MartinPrescott, ©iStock.com/milosradinovic, ©iStock.com/digitalskillet ×

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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