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.
As a distinguished member of the real estate finance industry for the last 16 years I have and continue to pride myself on the ability to exceed my clients’ and trusted partners’ expectations. My commitment to the industry has allowed me to participate in a wealth of educational opportunities and industry designations that have given me the insight to better assist even the most challenged borrowers. As an employee of Academy Mortgage Corp., a progressive national mortgage banker, I have broadened the scope of available products and programs to bring home ownership access to the largest prospective client base.
Read these articles to educate yourself on the mortgage process and industry.
We are proud to be one of the top independent purchase lenders in the country. We achieved this distinction by continually providing exceptional customer service and by following responsible lending practices, especially in today’s rapidly changing economy.Adam Kessler, President, Academy Mortgage
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While the advent of summer is likely enough to get you excited, there's another reason to celebrate this June: It's National Homeownership Month. This provides an opportunity to reflect on how the American dream of owning a house has impacted the lives of millions of people across the country.
Being a homeowner gives you more than just a roof over your head. As the property's value appreciates, you gain equity that can be used to help pay for important life expenses like college tuition. Many costs related to owning a home are also tax-deductible.
Homeownership a reality for many Americans. With the housing market doing as well as it has this year, more Americans are finding homeownership affordable. According to a report released at the end of April by the Department of Commerce, the homeownership rate in the first quarter of 2014 was 64.8%. This is a slight drop (0.2 percentage points) from the same time period in 2013, but it's still a strong statistic and will likely improve as we move into summer.
Here's what else the report showed:
In the first quarter, about 86.2% of the housing units in the U.S. were occupied.
Of the total housing units, 55.9% were owner-occupied.
Conventional mortgage rates are at their lowest levels of the year, according to Freddie Mac's latest Primary Mortgage Market Surveys, and Americans are feeling optimistic about the market, the Mortgage Bankers Association has reported. If these don't signify a great time to buy, what does?
For anyone thinking about getting into the market and becoming a homebuyer for the first time, a professional mortgage company can help. Everyone deserves to achieve the dream of owning a home someday, and the process doesn't have to be intimidating if you have the right assistance.
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.
Buying Better Than Renting After Three Years in 64 Percent of Metros
May 30, 2013
According to a recent report by Zillow, in 64 percent of metropolitan areas across the nation it's a smarter financial move to buy a home when compared to renting, if the person plans on staying for three years. This information is particularly important for a first time home buyer weighing their options.
The report showed that certain housing markets fared better than others when it came to their breakeven point where buying was cheaper than renting. Zillow factored in all costs associated with buying and renting when compiling the information, including upfront payments, closing costs, anticipated monthly rent and mortgage payments, insurance, taxes, utilities and maintenance costs.
"Locally high home value appreciation in many areas, combined with historically low mortgage rates and low home prices relative to recent peaks, has made buying a home a more advantageous financial decision than renting for many would-be buyers," said Zillow Chief Economist Stan Humphries. "The decision to buy or rent should always take into account a number of factors, one of which is how long a buyer or renter plans to stay in a property. Even in areas with relatively low breakeven horizons, buyers should resist the temptation to buy and sell properties based only on short-term goals."
No bubble in sight
With today's housing market seeing low rates, prices rise and sales increase, Americans can't help but think is it all too good to be true? A recent report from Trulia indicated that it is not and no housing bubble forming.
The report noted that for a bubble to form, home prices have to rise beyond their fundamental value. Trulia says that the actual value of a home is based on supply, demand and expectations of where the housing market will be in the near future.
According to the report, home values are actually undervalued by 7 percent across the nation. When comparing this to pre-bubble levels, it is glaring that today's housing market is not in a bubble. Trulia indicated that homes were overvalued by 39 percent in 2006, just two years before the market collapsed.
"Home prices fell so much after the last bubble burst that they still remain below normal levels even as prices rise sharply today," said Jed Kolko, Trulia's chief economist. "Several forces are waiting in the wings that should slow down today's rapid price gains before they rise into bubble territory again. More inventory, higher mortgage rates, and fading investor activity would each take home-price gains down a notch."
When you’re making the decision to refinance, there are several things to keep in mind.
First, if your current interest rate is significantly higher than today’s lowest rates, you may be able to roll your loan costs into your new mortgage and still get a lower rate than you have, thereby reducing your interest payments and lowering your monthly payment immediately.
Second, if you are planning to stay in your home for at least three to five years, it may make sense to pay “points” (a point equals 1 percent of the loan amount) and closing costs to get the lowest available rate.
And third, you can avoid laying out cash and still get a low rate by adding the points and closing costs to your new mortgage. Does that mean shouldering a lot of extra debt? Not necessarily. If you’ve had your current mortgage for at least three years, you’ve probably reduced your balance by several thousand dollars. So you may be able to tack your closing costs onto your new loan and still end up with a mortgage that’s smaller than your original loan—with a lower interest rate and lower monthly payment.
You also may want to consider lowering the term of your loan to pay off your home sooner. This option may raise your monthly payment, but may save you a substantial amount of interest over the term of the loan.
You also may want to consider a fixed-rate loan, which has an interest rate that is fixed for the entire term of the loan, as compared to a variable-rate loan, which has an interest rate that can increase or decrease based on the short-term indexes.
Contact your Academy Mortgage Loan Officer to see if refinancing is a good option for you.