Academy Bank Mortgage Refinance Reviews (Dec. 2020) | Mortgage Refinance

Highlights
Loan Amount	Up to $3,000,000
Loan Term (Years)	15 - 30 years

Academy Bank Mortgage Refinance Review

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

Key Takeaways

3 different mortgage programs offered. Academy Bank Mortgage Refinance refinances FHA, FHA 203k, 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.
Non-standard interest rates available. Academy Bank Mortgage Refinance offers hybrid mortgages and fixed-rate mortgages.
Considers personal use and investment properties. Refinancing available for primary homes, vacation homes, and even investment homes, such as rental properties.
Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage refinance loan early.

Academy Bank Mortgage Refinance Pros & Cons

Pros	Cons
Available in all 50 states.	Charges an origination fee. Charges prepayment fees.

Academy Bank Mortgage Refinance FAQ

What is the maximum loan term for a mortgage refinance via Academy Bank Mortgage Refinance?

The term of a mortgage refinance will impact the cost of your monthly payments. Longer terms will typically reduce your monthly payments but it will also increase the interest you pay. Academy Bank Mortgage Refinance offers mortgages refinancing with terms ranging from 15 to 30 years.

Does Academy Bank Mortgage Refinance charge a mortgage origination fee?

Yes, Academy Bank Mortgage Refinance will charge a loan origination fee.

What mortgage programs does Academy Bank Mortgage Refinance offer?

Academy Bank Mortgage Refinance offers the following mortgage types:

Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
FHA: Mortgages insured by the FHA, which usually have less stringent eligibility requirements, but borrowers must pay a mortgage insurance premium. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
FHA 203k: An FHA mortgage you can also use to finance home improvements.
VA: 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.

What property usage types does Academy Bank Mortgage Refinance allow?

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

Primary home
Secondary homes and vacation properties

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