Air Academy Mortgage Rates, Fees & Info
Colorado Springs, COLEI: 549300ELXS6PBT8OEE44
Tax ID: 84-0468072
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Mortgage Data
Review & Overview
Air Academy is a smaller mortgage company specializing in Other and Home Purchase loans. Air Academy has a high proportion of conventional loans. Their top markets by origination volume include: Colorado Springs, Denver, Phoenix, Fort Collins, and Steamboat Springs among others. We have data for 31 markets. (Some data included below & more in-depth data is available with an active subscription.)Air Academy has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Air Academy is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.82% | 11/17/24 |
| 30 Year Conventional Purchase | 5.76% | 11/17/24 |
| 30 Year Conventional Refi | 5.77% | 11/17/24 |
| 30 Year Cash-out Refi | 6.21% | 11/17/24 |
| 30 Year FHA Purchase | 7.35% | 11/17/24 |
| 30 Year VA Purchase | 5.61% | 11/17/24 |
| 15 Year Conventional Purchase | 5.70% | 11/17/24 |
| 15 Year Conventional Refi | 5.18% | 11/17/24 |
| 15 Year Cash-out Refi | 5.18% | 11/17/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Air Academy Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
306Origination Dollar Volume (All Markets)
$64,040,000Awards
AIR ACADEMY - 2023
AIR ACADEMY is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Air Academy's average 30 year fixed mortgage rate was
6.35%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.13%.
Relative Fees (Closing Costs)
Air Academy's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,593.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 157 | $27,095,000 | $172,580 | $4,390 | 7.94% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 102 | $21,410,000 | $209,902 | $4,780 | 7.97% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 5 | $2,075,000 | $415,000 | $4,387 | 6.20% |
| FORT COLLINS, CO (FHA|USDA|VA) | 6 | $1,440,000 | $240,000 | $2,482 | 6.87% |
| Steamboat Springs, CO (FHA|USDA|VA) | 1 | $1,405,000 | $1,405,000 | $10,648 | 6.03% |
| Outside of Metro Areas | 3 | $1,165,000 | $388,333 | $9,045 | 7.17% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $825,000 | $825,000 | $14,162 | 6.63% |
| BOULDER, CO (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $8,196 | 6.61% |
| Breckenridge, CO (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $8,165 | 6.90% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $6,105 | 5.55% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $7,929 | 6.75% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $8,085 | 6.38% |
| GREELEY, CO (FHA|USDA|VA) | 4 | $510,000 | $127,500 | $1,847 | 8.19% |
| PUEBLO, CO (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $1,724 | 6.50% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $3,957 | 5.75% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $14,834 | 5.75% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $1,228 | 6.99% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $2,271 | 6.50% |
| MADERA, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $7,750 | 5.75% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $5,074 | 6.98% |
| Taylorville, IL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $1,276 | 6.50% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $6,704 | 5.88% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,310 | 5.50% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,576 | 5.50% |
| Montrose, CO (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,993 | 5.43% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $1,422 | 7.00% |
| WICHITA, KS (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,437 | 6.38% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,203 | 5.50% |
| Taos, NM (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,856 | 7.00% |
| Cañon City, CO (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 9.75% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,723 | 6.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against AIR ACADEMY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 189 | $21,215,000 | $112,249 | n/a | 8.39% |
| Conventional | 109 | $39,035,000 | $358,119 | $4,086 | 6.79% |
| VA | 8 | $3,790,000 | $473,750 | $13,061 | 5.78% |
For 2023, Air Academy's most frequently originated type of loan was HELOC, with 189 originations. Their 2nd most popular type was Conventional, with 109 originations.
Loan Reason
For 2023, Air Academy's most frequently cited loan purpose was Other, with 140 originations. The 2nd most popular reason was Home Purchase, with 83 originations.
Loan Duration/Length
For 2023, Air Academy's most frequently cited loan duration was 20 Year, with 192 originations. The 2nd most popular length was 30 Year, with 78 originations.
Origination Fees/Closing Costs
Air Academy's average total fees were $5,593, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 38 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 142 | $15,110,000 | $106,408 |
| 7-8% | 77 | $11,825,000 | $153,571 |
| 6-7% | 58 | $23,330,000 | $402,241 |
| 5-6% | 28 | $13,570,000 | $484,643 |
| 4-5% | 1 | $205,000 | $205,000 |
During 2023, Air Academy's average interest rate for loans was 6.35%, while their most frequently originated rate bucket for loans was Over 8%, with 142 originations.
Loan Sizing
2023 saw Air Academy place emphasis on $100,000 or less loans with 125 originations, totaling $6,875,000 in origination value.
Applicant Income
Air Academy lent most frequently to those with incomes in the $100k-150k range, with 88 originations. The second most popular income band? $150k-250k, with 79 originations.
Applicant Debt to Income Ratio
Air Academy lent most frequently to those with DTI ratios of 20-30%, with 55 originations. The next most common DTI ratio? 30-36%, with 52 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.65%
Air Academy has an average approval rate.
Pick Rate
Approvals leading to origination73.20%
Air Academy has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 1 | $65,000 | $65,000 |
| NA | 305 | $63,975,000 | $209,754 |