Academy Mortgage


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916-932-2480
2998 Douglas Blvd, #300
Roseville, California 95661

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Conventional Mortgages

A Conventional Mortgage is simply any mortgage loan that is not insured or guaranteed by the federal or state government. Conventional Mortgages typically require a higher down payment, usually 5%–20%. They also have higher income and credit score requirements than government loans.

Conventional Mortgages can have a fixed interest rate or an adjustable interest rate. Typical fixed-rate loans have a term of 30 or 15 years. However, Academy Mortgage offers 30-year, 25-year, 20-year, 15-year, and 10-year fixed-rate options.
Click here for more information about Fixed-Rate Mortgages.

With an Adjustable-Rate Mortgage (ARM), the interest rate stays constant for a term and then fluctuates based on market conditions. Academy offers a 10/1 ARM, 7/1 ARM, 5/1 ARM, and 3/1 ARM.
Click here for more information about Adjustable-Rate Mortgages.

Conventional Mortgages are also categorized as conforming or non-conforming. If a loan meets the underwriting requirements set forth by the government-sponsored entities Fannie Mae and Freddie Mac, it is considered a conforming loan. If a loan does not meet all these requirements, it is considered a non-conforming loan.

One of the main factors that determine whether a mortgage is conforming is the loan amount. Generally, a mortgage with a loan amount below $417,000 is considered conforming, whereas any loan amount above $417,000 is considered non-conforming, or a Jumbo Mortgage. Conforming limits may be higher in areas of the country with more expensive housing; for example, the conforming limit is $625,500 in Alaska and Hawaii. Jumbo Mortgages usually have a higher interest rate because they carry greater risk.
Click here for more information about Jumbo Mortgages.

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Academy soars ahead of the industry by continuously delivering the Gold Standard in customer service. Our Loan Officers are easy to access and provide timely response, clear communication, and absolute follow-through. Our long tradition of customer satisfaction with our Realtor, Builder, and other Partners is affirmed year-after-year in our quarterly Partner Satisfaction Surveys.