Academy Mortgage

• Direct Lender
• Variety of Loan Types
• Academy Mortgage Terms
• Branch Locations
• Free Homebuyer Education Tools
• Mobile App
• Complaint Portal

Direct Lender

As a direct mortgage lender, Academy Mortgage is able to provide more affordable loan services in a timely manner. Direct lending companies can reduce overhead costs and time because they do not rely on other mortgage companies to fund loans for their customers.

Academy Mortgage Corporation claims that its average closing times are significantly faster than the competition - this claim is supported by the fact that it is a direct lending company.

Variety of Loan Types

Academy Mortgage provides a wide variety of loan options in order to adequately serve each unique client. The company offers the following loan types and services: 

• Fixed-Rate Mortgage (also known as a conventional loan)
• Adjustable-Rate Mortgage (ARM)
• FHA Loan
• VA Loan
• USDA Rural Housing Loan 
• FHA 203(k) Renovation Loan (includes costs to repair and remodel a property)
• Jumbo Loan
• State Housing Loan
• Refinancing Loan
• Builder Loan
• GSFA Platinum Program (a loan solution and grant program for California residents)
• Reverse mortgage

To help you choose which loan type is best for you, Academy Mortgage has a loan decision tool, allowing you to choose the circumstances that most closely describe you (eg. "I want a low down payment", "I want to live outside the city", or "I'm a first-time homebuyer") and then matching you with the loan products that are designed to meet those needs.

Most other mortgage lenders do not offer this many loan options, setting Academy Mortgage apart in the industry. The fact that the company offers a wide range of mortgage loan products enables the Academy Mortgage team to offer loan origination even in the most unique or seemingly difficult circumstances. Combined with the fact that Academy Mortgage is a direct lender, there is no brokering and no middleman, providing a hassle-free and quick loan process.

Academy Mortgage Terms

Although Academy Mortgage rates are not explicitly disclosed, it does offer several sample scenarios that show mortgage rates that are typical for the industry.

In addition, Academy Mortgage has great terms for its standard mortgage loan. A borrower that chooses Academy Mortgage can expect the following on most loan products*:

• Minimum down payment (conventiona loan) — 3%
• Average minimum credit score requirement — 620
• Fixed-rate loan term lengths — 10–30 years

_{*rates and terms may vary by loan type}

Branch Locations

Academy Mortgage has 260+ branch locations nationwide if you would prefer a face-to-face interaction. However, you are not required to visit a branch to apply or manage your loan, so if you prefer the convenience of doing everything online, you can do so.

Free Homebuyer Education Tools

The Academy Mortgage website hosts dozens of articles, videos, infographics and tools to help potential homebuyers like you feel informed and confident about homeownership. The resources range from navigating closing costs to understanding mortgage lending jargon.

The website also offers various mortgage calculators that can compute how much your mortgage monthly payment could be, how much mortgage you qualify for, how much house you can afford, and how much you could save if you were to increase your mortgage payment. The figures shown by the calculators are meant to be hypothetical and are not necessarily illustrative of exact loan rates and terms that you will receive upon applying, but they will give you a good idea of where you stand and what you can expect when you do apply for an Academy Mortgage home loan.

These online resources are designed to help customers before, during, and after the home buying process.

Mobile App

Academy Mortgage offers a mobile app, My Mortgage: Mobile, to help clients stay on top of their mortgages using a smartphone or tablet. App features include: 

• Loan program comparisons
• Possible savings or refinancing calculator
• Home affordability calculator
• Document scanner and uploader
• Contact information for a loan officer and/or real estate agent
• Notifications for interest rate changes

The Academy Mortgage mobile app is available for both Android and iOS devices.

Complaint Portal

While this may not necessarily sound like a good thing, Academy Mortgage provides an easy-access complaint portal on its website, allowing you to easily share any concerns or difficulties you may be experiencing. This is unique, as most other mortgage companies do not offer this feature, suggesting that Academy Mortgage takes its customer relations seriously and is committed to hearing complaints, fixing problems, and improving its services.

If you submit a complaint on the Academy Mortgage website, you should be notified within five days that your complaint has been received. Once your complaint has been investigated you will be contacted once again.

• Undisclosed Rates
• Not Licensed in New York
• Academy Mortgage Reviews

Undisclosed Rates

Academy Mortgage does not disclose an interest rate range on its website, nor does it have an interest rate estimate calculator to provide a rough idea of potential rates a borrower could receive. 

Potential borrowers need to contact a company representative directly to determine interest rates, origination fees, and other loan figures. 

Not Licensed in New York

Academy Mortgage is licensed in 49 states and Washington, D.C., but is not licensed to do business in New York. 

Academy Mortgage Reviews

Academy Mortgage reviews are limited, but are a mix of positive and negative reviews.

Positive reviews highlight reliable customer service, and a quick and easy process.

On the other hand, negative reviews remark on a difficult application process and bad experiences with customer service.

Due to this variance in reviews, in addition to limited numbers, it is hard to paint an accurate picture of Academy Mortgage based solely upon customer reviews.

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