About Academy Mortgage Corporation
Founded in 1988, Academy Mortgage Corporation is based in in Draper, Utah. Since it was founded, Academy Mortgage Corp. has grown to over 200 offices across the United States and employs over 2,000 people. With the ability to process loans in 49 states, Academy is one of the largest private mortgage lending companies in the United States.
Academy Mortgage Corporation has received numerous rewards and accolades for their business practices. They currently have an A+ rating by the Better Business Bureau with a 98% positive review rating. Academy Mortgage also ranked in the top 100 mortgage companies in America by Mortgage Executive Magazine. Scotsman Guide named them Top Mortgage Lender in 2013, and they also rated Academy Mortgage as top 10 in retail volume and top 20 in overall volume in 2014.
Types of Mortgages Academy Mortgages Offers
Academy Mortgage Corporation offers a wide array of mortgages depending on your needs. They have conventional mortgages including fixed-rate, adjustable-rate, and jumbo mortgages. For first-time home buyers, Academy Mortgage offers FHA loans, and if you are wanting a fixer-upper property, they offer FHA 203(k) renovation loans. For military personnel (both retired and active service), Academy Mortgage Corporation can provide VA mortgage loans which offer lower interest rates and no down payment. State and Rural Housing mortgages are also available.
If you have been in your home for awhile, and you are seeking to change the terms of your mortgage, Academy Mortgage offers two different types of refinancing for your mortgage. They have a standard refinancing option, but they also have a refinancing option specifically for FHA-insured loans. The FHA Streamline refinance is available for FHA-insured mortgage holders and often do not require either a home appraisal or proof of income.
While there are a wide array of mortgages available through Academy Mortgage Corporation, you can work with a licensed loan officer to help you determine the best type of mortgage for you.
Interest rates do change frequently, but Academy Mortgage offers competitive rates. Many different factors play a part in a home buyer’s interest rate including credit scores, debt-to-income ratio, and down payment. The type of mortgage a home buyer chooses also plays a very important part in the interest rate a buyer receives. The shorter the term of the mortgage usually means a lower interest rate, and some special programs such as FHA and VA mortgages provide lower rates than conventional loans.
What Else Does Academy Mortgage Offer?
Academy Mortgage is strictly mortgage-based lending, but they do offer foreclosure prevention information and information for home buyers and home owners. Their website has calculators available to determine how much you can afford, how much your monthly payment will be, and more. With offices across the United States, you can have a local lender to speak with, or you can contact them through their website or toll free number, too.