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Survey Results Prove Excellence at Academy Mortgage

March 20, 2012 By Leave a Comment

Are you satisfied with your lender? When you get a loan with Academy Mortgage in Scottsdale, chances are that you will get a customer satisfaction survey and get the chance to tell us about your experience. Here is an example of a customer satisfaction survey for someone who worked with Scott Smith, one of our expert loan officers.

Campaign Name Closing Satisfaction Survey Results
Survey Name Your recently-funded customer completed the online satisfaction survey as part of your retention program.
Name Matthew B.

Experience with LO 4 – Excellent
LO Professionalism 4 – Excellent
Explanation of Terms 4 – Excellent
LO Communication 4 – Excellent
Responsiveness of LO 4 – Excellent
Program Satisfaction 4 – Excellent
Professionalism of Realtor 4 – Excellent
Professionalism of Title Co./Close Agent 4 – Excellent
Overall Experience 4 – Excellent
Comments Smooth sailing

Have questions about a home loan here in Maricopa County? Contact Scott for help today.

Filed Under: Uncategorized

Scott Smith: Highly Recommended

March 19, 2012 By Leave a Comment

We love posting the letters and emails we get from our happy customers. Here is one from a happy client who worked with Scott Smith:

To Whom It May Concern:

I want to thank Scott Smith for the hard work he put into qualifying and securing a loan for us on behalf of Academy Mortgage. Given our unusual situation, another lender was unable to figure out our cash flow situation and told us we could only qualify for a fraction of the amount that we knew were actually able to qualify for.

Being that we have purchased several properties and have also refinanced a few of these properties over the past several years, we have dealt with many lending institutions. I have to say that dealing with Scott and Academy Mortgage has been the most positive experience we have ever had with a lender.  The communication was excellent (we have had loan officers before that we thought had forgotten that we even existed). We always knew exactly were we were in the process. In addition, we received a very competitive rate from Academy Mortgage.

Scott is very personable and feels like an old friend. He is on top of his game. Scott has instilled confidence in us and we now consider him our “go to” guy for our future mortgage needs. I highly recommend you give him a call if you are in need of a mortgage.

~ M. Dampier

Have questions about a home loan here in Maricopa County? Contact Scott for help today.

Filed Under: Success Stories Tagged With:

FHA 203k Loans in Arizona: Very Popular

March 13, 2012 By Leave a Comment

az fha 203k loan for repairsIn the current real estate market in Phoenix, many homes for sale are either owned by a bank who has gotten the home back in a foreclosure or are a short sale where the homeowner is hoping to avoid foreclosure.

And many times with bank-owned homes or short sales, the home is in need of a few repairs – ranging from an AC repair to a completely new roof – and everything in between.

So when it comes to buying these bank-owned homes or short sales, because so many are in need of at least a few repairs, the FHA 203k loan program is more popular than ever.

A few common questions about the FHA 203k loan include:

How much do I write the sales contract for?
The offer is the purchase price of the home only. Do not include the cost of repairs anywhere in the sales contract or offer.

How much money can I use for repairs with the Arizona FHA 203k loan?
The minimum that FHA will allow you to spend is $5,000 and the maximum allowed under the Arizona FHA 203k streamline program is $35,000.

Does the house need to be FHA qualified?
Not until after the work is completed. The FHA 203k streamline loan is designed to help properties that are not currently qualified, actually become qualified with the needed repairs.

Is this loan harder to qualify for than a traditional FHA loan?
No. The requirements to qualify are the same as a traditional FHA loan. What does it take to qualify for an FHA loan? Generally speaking, a credit score above 620, a good job and a down payment of 3.5%. Of course there are more details to qualifying, but those are the general highlights.

How do I go about contracting the work?
It is recommended that you work with a general contractor that can perform all construction tasks. We can easily help recommend one – we know a few great ones. It is also important that the contractor be experienced in FHA guidelines so that they can include any FHA required items in their contract.

Still Have Questions About The Arizona FHA 203k Loan?
Contact us – we are happy to help and have experts on staff who do FHA 203k loans all the time.

Filed Under: FHA Loans Tagged With: , , ,

White House Lowers FHA Streamlined Refinancing Fees

March 6, 2012 By Leave a Comment

As many as three million borrowers with government-insured mortgages may be eligible for lower borrowing costs when they participate in streamlined Federal Housing Administration (FHA) refinancing, according to the White House Administration on Tuesday, March 6.

The fresh round of changes from the administration affects loans the Federal Housing Administration insures and would reduce fees on those mortgages for borrowers previously unable to borrow at lower rates.

Those using the so-called “streamline” refinance program allows FHA borrowers to win new FHA-backed loans without going through some of the more stringent guidelines that make locking into new loan terms more challenging.

The Obama administration said it will lower the costs on up-front mortgage insurance premiums to 0.01 percent for streamlined refinancings of FHA loans. The White House also said it will cut the annual fee for these refinancings in half to 0.55 percent.

Eligible borrowers for the streamline refinance program must have taken out those FHA loans before June 1, 2009.

The changes to the government’s streamlined refinancing program could help the typical FHA borrower find “significant monthly savings,” according to the administration.

Since mortgage rates are at historic lows and hover around 4 percent, the administration estimates a typical FHA borrower with $175,000 outstanding on their loan could reduce monthly payments to $915 a month and save $100 a month more than the borrower would have under current FHA fees.

Filed Under: Uncategorized

Getting a Mortgage One Year After a Short Sale Is Possible

January 19, 2012 By Leave a Comment

Many people who live in Arizona have went through a short sale in the last few years and are now wondering “how long after a short sale can I get a new mortgage?”

In the case of Sharon Johnson-Smith, Academy Mortgage and Steve Alonso were able to get them into a new home with financing only one year after a short sale.

Have you had a short sale in the past and now want to get a mortgage? Contact Steve today to find out how.

Get a Mortgage One Year After a Short Sale

From: Sharon Johnson-Smith
To: Steve Alonso
Sent: Friday, January 13, 2012 11:12 AM
Subject: Endorsement

Hi Steve,

Here is our endorsement – and we mean it sincerely. -Sharon and Pinkie.

—–
And they said it couldnt be done My husband and I began to have our doubts, but Steve Alonso pulled it through.

We are elated about being able to get financing on a home after only ONE year since our short sale closing.

I was particularly doubtful after talking with several other realtors who were sure that it takes 2-3 years after a short sale before any lending institution will finance a mortgage.

I had serious second thoughts about going through with purchasing our new home, after talking with a couple of mortgage brokers who saw it highly improbably we would get financing this year.

However, Steve with his This will be done, attitude, actually did it. Thank you Steve for performing what was considered an impossible feat!

Sharon Johnson-Smith, REALTOR
480-893-0600
Fax:888-400-1956
West USA Realty
sjsmith100@hotmail.com
sjsrealestate.listingbook.com

Filed Under: Success Stories Tagged With:

Closing Satisfaction Survey Results

January 17, 2012 By Leave a Comment

Are  you satisfied with your lender? When you get a loan with Academy Mortgage in Mesa, chances are that you will get a customer satisfaction survey and get the chance to tell us about your experience.  Here is an example of a customer satisfaction survey for someone who worked with Scott Smith, one of our expert loan officers.

Campaign Name Closing Satisfaction Survey Results
Survey Name Your recently-funded customer completed the online satisfaction survey as part of your retention program.
Name Craig V.
**************************************************************************************

Experience with LO 4 – Excellent
LO Professionalism 4 – Excellent
Explanation of Terms 4 – Excellent
LO Communication 4 – Excellent
Responsiveness of LO 4 – Excellent
Program Satisfaction 4 – Excellent
Professionalism of Realtor 4 – Excellent
Professionalism of Title Co./Close Agent 4 – Excellent
Overall Experience 4 – Excellent
Comments This was the fastest and best loan and home closing we have experienced. Would recommend Scott and Academy Mortgage to anyone who asked for mortgage assistance! Scott. we truly believe you are the best! Craig and Linda V.
Filed Under: Uncategorized

#1 FHA Lender

November 15, 2011 By

Filed Under: Home Slides

For Realtors

November 14, 2011 By

Filed Under: Home Slides

For Borrowers

November 13, 2011 By

Filed Under: Home Slides

Lennar’s Next Gen Casita Homes: Perfect For Elderly Parents

September 13, 2011 By Leave a Comment

Of the approximately 312 million people living in America today, it is estimated that 49 million people are living with an extended family member and as the baby boomer generation gets older, it is widely expected that the number of people who have an extended family member living with them will continue to rise.

When faced with choices related to caring for an elderly parent, let’s face it: having grandma move into your daughter’s bottom bunk isn’t high on anyone’s list of options. But at least one home builder is providing a revolutionary idea when building homes with an area designed to accomodate an expanded family – Lennar Homes.

Lennar Homes has recently introduced the Next Gen Casita option to some of it’s communities here in the Maricopa county area and with the number of senior citizens who already call Arizona home, don’t be surprised to see many other home builders attempt to copy this idea. Just a few of the features of the Lennar Next Gen Casita include:

  • Larget Kitchenette including dishwasher, full-size fridge, full-size sink and microwave
  • Private patio with room for a BBQ
  • Laundry space for washer and dryer
  • Private 1 car garage with direct access to the casita
  • Private bedroom and bathroom
  • Private living room
  • Private porch area great for relaxing

If you are in the situation where you may be having an elderly parent live with your family, the Next Gen Casita home provides a unique solution to an increasingly-common occurrence. Learn more about your home-buying options and see what it takes to get qualified to buy one of these homes that are designed for your expanded family needs.

Lennar Next Gen Casita: More Information

Lennar Phoenix

Filed Under: Arizona Home Builders Tagged With: , ,
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