Academy Mortgage Company Review 2022

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Types of loans offered

Compliant, FHA, VA, USDA, jumbo, retrofit, reverse, state housing agency

Types of loans offered

Compliant, FHA, VA, USDA, jumbo, retrofit, reverse, state housing agency

Advantages
  • Several loan term options
  • Transparency on credit requirements
  • Works with state housing agency mortgage programs and accepts down payment assistance
The inconvenients
  • Requires a relatively high score on all his mortgages
  • Does not disclose online rates or fees
  • Does not lend to New York
More information
  • Available in 49 states and Washington, DC
  • Has physical branches nationwide
  • Offers jumbo loans up to $2 million
  • Minimum credit score and down payment shown are for conforming mortgages

Overall Lender Rating

Advantages and disadvantages

Interest Rates and Mortgage Fees from Academy Mortgage Corporation

To see what kind of rate you might get with this lender, you’ll need to contact a loan officer, as they don’t post sample rates online. You can also find out about fees charged to borrowers, such as origination or underwriting fees.

Many lenders post sample rates on their websites. While these rates aren’t a guarantee of what you’ll end up paying, they can give you an idea of ​​the range of rates a lender is offering. Some lenders are also transparent about the loan fees they charge at closing, which can help borrowers better understand what they might end up paying in closing costs.

Academy Mortgage Corporation v. Chase

Chase might be a better option for first-time home buyers with its DreaMaker mortgage, which allows for low down payments and less stringent credit requirements.

But if your public housing agency offers a mortgage program for low-income or first-time buyers, you may be able to get an extremely affordable mortgage from Academy Mortgage Corporation, which works with these agencies to create Mortgages.

Academy Mortgage Corporation vs. Guild Mortgage

Academy Mortgage Corporation and Guild Mortgage offer very different experiences, and which one is best for you depends on your needs.

Guild is a premier online lender that lets you do much of the application process digitally. Academy Mortgage also has digital capabilities, but you’ll need to connect with a loan officer first, which could be helpful for first-timers who aren’t very familiar with the mortgage process or those who want to talk about their options in mind. -headed. -a.

How Academy Mortgage Corporation Works

You can get started with Academy Mortgage Corporation by using the lender’s “find a loan officer” search feature to locate a branch near you. You can also fill out an online form with some basic contact information and someone will contact you. Then you can use the lender’s application to complete your application.

Academy Mortgage Corporation lends in 49 states and Washington, DC. It also has physical branches across the United States. It is not available in New York.

This lender offers conforming, FHA, VA, USDA, jumbo, renovation, reverse, and state housing agency mortgages.

State Realtor Mortgages are home loans offered by state-affiliated agencies that aim to make homeownership more affordable through features such as low down payments, down payment and closing costs and lower interest rates. Agencies generally work with participating lenders, who are the originators of the loans.

Academy Mortgage Corporation requires a score of at least 620 for its government-backed mortgages, which is higher than many other lenders require.

Is Academy Mortgage Corporation Trustworthy?

Academy Mortgage Corporation has an A+ rating from the Better Business Bureau. A good BBB rating indicates that a company advertises honestly, responds effectively to customer complaints, and is transparent about business practices.

In 2022, Academy Mortgage Corporation agreed to settle a lawsuit claiming it approved unqualified FHA loans.

On its Zillow lender page, Academy Mortgage Corporation scored 4.96 out of 5 stars from a total of 26,253 customer reviews.

Insider Featured Mortgage Lenders

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Academy Mortgage Company FAQs

Yes, Academy Mortgage is a direct lender. This means that you will be working directly with the lender, not through a broker, and they will take care of all of the underwriting and loan origination tasks.

Almost. Academy of Mortgage Lenders in 49 States and Washington, DC. The only state it does not lend to is New York.

Academy Mortgage Corporation was founded in 1988, which means it has been providing mortgages for over 30 years.

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