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Academy Mortgage Corporation FHA Loans Review


ConsumersAdvocate.org Rating: 4.4 / 5 (Excellent)
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Academy Mortgage is an independent privately-owned mortgage lender based in Draper, Utah. Founded in 1988, the company has branch offices in 38 states and handles all aspects of the mortgage application process, including underwriting, from those locations. The firm offers fixed and adjustable rate FHA loans, Streamline refinance, renovation, and energy efficiency loans.
 
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How is Academy Mortgage rated?

Breakdown

0.0/5
Geographic Availability
4.5/5
Customer Experience
4.5/5
Lender Reputation

Overall Rating: 4.4 / 5 (Excellent)

Academy Mortgage Corporation is an independent mortgage company that offers FHA loans through its large agent network, but appears to have an underdeveloped internet business. Its online reputation is excellent and includes numerous positive reviews that mention the company's superior customer service. Its loan offerings are on par with many of its competitors. As such, Academy Mortgage is a very strong choice for FHA loans.

Academy Mortgage Loan Specifics

Types of FHA Loans Offered

FHA Fixed-Rate 15-Year
FHA Fixed-Rate 25-Year
FHA Fixed-Rate 30 Year
FHA Fixed Rate 15 Year
FHA Fixed-Rate 30 Year
FHA Adjustable Rate Mortgage (ARM)
FHA Jumbo Fixed Rate
FHA Hybrid
FHA Bridge/Relocation Loan
FHA Home Improvement 203(k)
FHA Self Employed

Loan Specifics - 4.5 / 5

Academy Mortgage offers both fixed and adjustable rate FHA loans, as well as FHA Streamline or Limited refinancing and FHA energy efficient mortgages. However, the company does not publish its minimum and maximum loan amounts or its loan qualification specifications.

Academy Mortgage Customer Experience

Customer Experience - 4.5 / 5

Academy has offices in 38 states and uses an agent model to interact with customers. This will likely please people who prefer the personal touch and frustrate those who prefer online interactions. Though it has offices in 38 states, notably it does not have offices in New York. The company claims that it has quick loan turnaround times, but does not publish any data regarding time averages, time guarantees, or similar statistics.

Online Features

Online Application
No
FHA Mortgage Calculator
No
Online Quote
No

Academy Mortgage Lender Reputation

Lender Reputation - 4.5 / 5

Academy Mortgage is one of the few companies whose positive BBB reviews vastly outnumber its negative ones. Many of these cite the communication skills, diligence, and patience of the company's mortgage brokers. Between 2011 and 2015, regulatory actions were brought against the company in five states. Most of these concerned Academy's use of mortgage agents who were not licensed in the state in which they were doing business. Another involved overcharging six customers per diem interest prior to loan disbursement. While these regulatory actions shouldn't be ignored, they don't suggest the kind of serious, large-scale violations of law that would warrant consumer concern.

Key Reputational Facts

Year Founded
1988
BBB Rating
A+
Number of BBB Positive Reviews
1,130
Number of BBB Negative Reviews
17
Trust Pilot Rating
6.1 out of 10
Date Collected
2018-01-23

Complaints & Actions

Nationwide Mortgage Licensing System ID
3113
Nationwide Mortgage Regulatory Actions
5
NMLS Collection Date
2018-01-23
CFPB Total Mortgage Complaints
67
CFPB Collection Date
2018-01-23

Company Profile

Full Name
Academy Mortgage Corporation FHA Loans
Company Website
https://academymortgage.com/home/index
Headquarters
339 West 13490 South, Draper, UT, 84020

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Customer Comments & Reviews

Loading Reviews ...
S
Sa G
11/6/2022
Through Academic Morgage I was able to make my big dream come true, they helped me and were very efficient, Kathy Radich who is their manager and directs the Lecey area in Washington is wonderful, do business with them you will enjoy it.

crystal.alejo
8/3/2020
After the initial credit check sending in the documents to get the process going. We were given a pre-qual form showing the loan amt, etc. After we told him we were going with a townhome, what the sell price is, HOA fee and taxes, he gave us our estimated borrowing loan amt, monthly payment with hoa/taxes/interest, etc. Frist, the borrowed loan amt was $20k less then originally told, same with down payment. After about a week & half to 2wks, we had no choice to stay with them because closing date was scheduled for the end of July month and it was too late to switch lenders or risk the seller backing out. Rami was ok but his assistant Valerie Myers, was as helpful as a box of rocks. She... Read More

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