Academy Mortgage provides service and solutions and tools to help individuals and families achieve successful homeownership. They are a direct lender that processes, underwrites, closes, and funds all loans in-house.
Academy Mortgage is licensed to originate loans in 49 states and Washington, D.C. It has over 260 branch offices across the country.
Academy Mortgage Options
Academy Mortgage offers a wide spectrum of loan options government-backed products to jumbo and refinance loans. They also offer down payments to assistant program to California borrowers.
- Conventional Mortgages
- FHA Loans
- VA Loans
- Renovation Loans
- Refinance Loans
- Jumbo Mortgages
- USDA Home Loans
- State Housing Agency Loans
- DPA Programs
- Fixed-Rate Mortgages
- Adjustable-Rate Mortgages
- Reverse Mortgages
Academy Mortgage Qualifications
| LOAN TYPE | MINIMUM DOWN PAYMENT |
MINIMUM DEBT-TO-INCOME RATIO |
| Conventional loan (fixed-rate, ARM) | 3% | 45% |
| FHA loan | 3.5% | 45% – 50% |
| VA loan | 0% | 41% |
| Jumbo loan | 20% | 45% |
| USDA loan | 0% | 41% |
Keep in mind that the minimum credit score requirements depend on the loan you are getting:
- USDA borrowers must have a minimum score of 640, or 660 for those who have a prior short sale.
- FHA loans require a minimum of 580 to qualify for the 3.5% down payment. If not, you’ll need to make a 10% down payment.
Academy Mortgage Availability
Academy Mortgage has over 260 branches across the country. The company is licensed to process loans in 49 states (not New York), as well as the District of Columbia.
Academy Mortgage Application Process
You can fill out a form on their website online and a mortgage specialist will contact you for further information regarding the loan you’re inquiring.
You can also apply by calling Academy, or visiting one of their many branches for face-to-face interaction.
Academy Mortgage Customer Service
Customers can easily reach Academy’s support team 24/7 via live chat on the website.
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Conclusion
Academy Mortgage is a good option for those who are looking for a home loan. In addition to that they also offer a wide range of loan types from conventional loans and adjustable-rate mortgages to jumbo mortgages and renovation loans
If you’re interested in another online lender, you can check out Better Mortgage, they offer simple and online mortgages for those whore looking to purchase and refinance their next home faster.
