Academy Bank Home Mortgage Review

Academy Bank Home Mortgage is offered by Academy Bank, N.A. (NMLS #716627), a bank founded in 1966 and based in Kansas City, MO. Academy Bank Home Mortgage is available in 50 states (and Washington, DC).

• Only two mortgage programs offered. Academy Bank Home Mortgage provides FHA VA conforming and conventional mortgages.
• Specializes in multi-family properties. Only offers mortgages for multi-family properties, but not for single-family homes or manufactured homes.
• Standard interest rates types. Academy Bank Home Mortgage offers and fixed-rate mortgages.
• Primary and secondary homes considered. Investment homes, such as rental properties, do not qualify for financing. However, Academy Bank Home Mortgage does offer financing for primary and secondary homes (e.g. vacation properties).
• Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.

How much can you borrow via Academy Bank, N.A.?

Academy Bank mortgage allows borrowers to apply for loan amounts of up to $3,000,000. Note that the maximum loan amount you can borrow will also vary depending on the type of mortgage you choose, regardless of the lender you choose.

What mortgage rates does Academy Bank, N.A. offer?

Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.

Does Academy Bank mortgage charge an application fee?

Do they charge mortgage origination fees?

Yes, Academy Bank mortgage may charge a loan origination fee.

What mortgage programs are available?

Academy Bank mortgage offers the following mortgage types:

• Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
• FHA loans: FHA loans are mortgages insured by the FHA. They offer competitive mortgage rates and have less stringent eligibility requirements. However, borrowers must pay a mortgage insurance premium. For instance, you can apply for an FHA loan with a credit score as low as 580. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
• VA loans: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses. VA loans offer competitive mortgage rates, and don't have a minimum credit score. However, the mortgage lenders that offer them will typically require a credit score of at least 640.

What property usage types does Academy Bank mortgage allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Academy Bank mortgage allows the following property usage types: 

• Primary home

What is the customer service phone number?

The customer service number for this business card is (866) 868-9141.

What is the support contact email?

The support contact email for this business credit card is social@academybank.com.