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 Refi and Cash Out Refi loans. Air Academy has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Colorado Springs, Denver, Edwards, Fort Collins, and Boulder among others. We have data for 45 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 a low 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 about average 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% | 11/22/24 |
30 Year Conventional Purchase | 5.76% | 11/22/24 |
30 Year Conventional Refi | 5.77% | 11/22/24 |
30 Year Cash-out Refi | 6.21% | 11/22/24 |
30 Year FHA Purchase | 7.35% | 11/22/24 |
30 Year VA Purchase | 5.61% | 11/22/24 |
15 Year Conventional Purchase | 5.70% | 11/22/24 |
15 Year Conventional Refi | 5.18% | 11/22/24 |
15 Year Cash-out Refi | 5.18% | 11/22/24 |
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
756Origination Dollar Volume (All Markets)
$189,000,000AIR ACADEMY - 2020
AIR ACADEMY is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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) | 422 | $102,110,000 | $241,967 | $1,905 | 3.10% |
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 204 | $54,230,000 | $265,833 | $1,589 | 3.01% |
Edwards, CO (FHA|USDA|VA) | 13 | $3,935,000 | $302,692 | $1,230 | 2.66% |
Outside of Metro Areas | 18 | $3,540,000 | $196,667 | $2,130 | 3.43% |
FORT COLLINS, CO (FHA|USDA|VA) | 12 | $2,930,000 | $244,167 | $835 | 2.84% |
BOULDER, CO (FHA|USDA|VA) | 8 | $2,740,000 | $342,500 | $1,818 | 2.90% |
GRAND JUNCTION, CO (FHA|USDA|VA) | 14 | $2,680,000 | $191,429 | $542 | 2.72% |
GREELEY, CO (FHA|USDA|VA) | 7 | $2,295,000 | $327,857 | $2,449 | 2.85% |
Steamboat Springs, CO (FHA|USDA|VA) | 5 | $1,545,000 | $309,000 | $1,039 | 2.67% |
Breckenridge, CO (FHA|USDA|VA) | 4 | $1,190,000 | $297,500 | $1,368 | 2.77% |
PUEBLO, CO (FHA|USDA|VA) | 8 | $1,170,000 | $146,250 | $1,858 | 2.86% |
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $1,150,000 | $575,000 | $5,052 | 3.36% |
Glenwood Springs, CO (FHA|USDA|VA) | 3 | $725,000 | $241,667 | $949 | 3.03% |
Riverton, WY (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $11,308 | 4.99% |
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $2,633 | 3.31% |
Hilo, HI (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $4,605 | 2.75% |
Cañon City, CO (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $748 | 2.54% |
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $7,665 | 4.49% |
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,400 | 2.88% |
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $4,438 | 3.49% |
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $5,792 | 2.49% |
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $2,200 | 2.63% |
ALBUQUERQUE, NM (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $2,684 | 2.50% |
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,117 | 4.24% |
SANTA FE, NM (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $1,402 | 3.99% |
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $11,933 | 3.25% |
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,593 | 2.63% |
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,957 | 3.38% |
LOGAN, UT-ID (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,356 | 2.88% |
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,999 | 3.25% |
ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,721 | 2.75% |
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,217 | 2.25% |
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,632 | 2.50% |
TUCSON, AZ (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,957 | 2.63% |
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,024 | 3.88% |
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $1,139 | 2.49% |
OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,303 | 2.74% |
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $1,362 | 2.25% |
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,300 | 3.50% |
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,386 | 2.88% |
TULSA, OK (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,087 | 2.75% |
SPARTANBURG, SC (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $1,775 | 3.25% |
RICHMOND, VA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,781 | 4.49% |
WARNER ROBINS, GA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,088 | 3.25% |
MUSKEGON, MI (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $1,058 | 2.49% |
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 |
---|---|---|---|---|---|
Conventional | 719 | $176,785,000 | $245,876 | $1,657 | 3.05% |
VA | 35 | $11,845,000 | $338,429 | $4,927 | 2.97% |
FHA | 2 | $370,000 | $185,000 | $7,780 | 4.25% |
For 2020, Air Academy's most frequently originated type of loan was Conventional, with 719 originations. Their 2nd most popular type was VA, with 35 originations.
Loan Reason
For 2020, Air Academy's most frequently cited loan purpose was Refi, with 347 originations. The 2nd most popular reason was Cash Out Refi, with 283 originations.
Loan Duration/Length
For 2020, Air Academy's most frequently cited loan duration was 30 Year, with 341 originations. The 2nd most popular length was Other, with 172 originations.
Origination Fees/Closing Costs
Air Academy's average total fees were $2,789, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 594 originations.
Interest Rates
During 2020, Air Academy's average interest rate for loans was 3.20%, while their most frequently originated rate bucket for loans was 2.5-3%, with 290 originations.
Loan Sizing
2020 saw Air Academy place emphasis on $200k-400k loans with 382 originations, totaling $107,860,000 in origination value.
Applicant Income
Air Academy lent most frequently to those with incomes in the $100k-150k range, with 215 originations. The second most popular income band? $50k-75k, with 159 originations.
Applicant Debt to Income Ratio
Air Academy lent most frequently to those with DTI ratios of 20-30%, with 236 originations. The next most common DTI ratio? 30-36%, with 141 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.38%
Air Academy has an average approval rate.
Pick Rate
Approvals leading to origination62.17%
Air Academy has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 756 | $189,000,000 | $250,000 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
Single Family (1-4 Units):Site-Built | 756 | $189,000,000 | $250,000 |