Academy Bank Mortgage Rates, Fees & Info

Kansas City, MO

LEI: 549300LP0CV2MNC1GV68

Tax ID: 84-0567796

5 stars - out of 5 stars, based on 18 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Academy Bank is a smaller bank specializing in Home Purchase loans. Academy Bank 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Kansas City, Phoenix, Minneapolis, Chicago, and Denver among others. We have data for 92 markets. (Some data included below & more in-depth data is available with an active subscription.)

Academy Bank 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. Academy Bank 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 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 5/28/23
30 Year Conventional Purchase 6.57% 5/28/23
30 Year Conventional Refi 6.32% 5/28/23
30 Year Cash-out Refi 6.61% 5/28/23
30 Year FHA Purchase 6.97% 5/28/23
30 Year FHA Refi 6.27% 5/28/23
30 Year VA Purchase 5.77% 5/28/23
30 Year VA Refi 6.00% 5/28/23
30 Year USDA Purchase 6.75% 5/28/23
15 Year Conventional Purchase 6.07% 5/28/23
15 Year Conventional Refi 5.69% 5/28/23
15 Year Cash-out Refi 5.69% 5/28/23
15 Year VA Purchase 5.62% 5/28/23
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.

Academy Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Academy Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

340

Origination Dollar Volume (All Markets)

$157,960,000

Awards

Academy Bank VA Loans gold Academy Bank VA Loans gold Academy Bank VA Loans silver
Show all (3) awards

Relative Rate

Academy Bank's average 30 year fixed mortgage rate was 4.64%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.12%.

Relative Fees (Closing Costs)

Academy Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $5,357.

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 $4,750.

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
KANSAS CITY, MO-KS (FHA|USDA|VA) 102 $39,510,000 $387,353 $3,927 4.47%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 37 $21,855,000 $590,676 $5,844 4.44%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 34 $11,910,000 $350,294 $4,629 4.70%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 3 $9,205,000 $3,068,333 $18,854 3.83%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 14 $7,190,000 $513,571 $5,528 4.58%
Glenwood Springs, CO (FHA|USDA|VA) 1 $4,645,000 $4,645,000 $0 4.85%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $4,520,000 $2,260,000 $12,684 5.73%
ALBUQUERQUE, NM (FHA|USDA|VA) 7 $3,365,000 $480,714 $8,577 4.39%
PANAMA CITY, FL (FHA|USDA|VA) 1 $2,845,000 $2,845,000 $0 4.25%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 5 $2,685,000 $537,000 $5,218 4.18%
Outside of Metro Areas 7 $2,155,000 $307,857 $5,707 4.89%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 3 $1,785,000 $595,000 $12,384 5.13%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 3 $1,655,000 $551,667 $3,464 3.67%
OKLAHOMA CITY, OK (FHA|USDA|VA) 2 $1,600,000 $800,000 $4,388 2.63%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $1,595,000 $1,595,000 $6,432 3.75%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 2 $1,590,000 $795,000 $4,060 4.56%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 5 $1,565,000 $313,000 $5,190 4.93%
WORCESTER, MA-CT (FHA|USDA|VA) 3 $1,545,000 $515,000 $2,392 3.88%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $1,265,000 $421,667 $8,504 3.75%
BOULDER, CO (FHA|USDA|VA) 2 $1,160,000 $580,000 $3,235 4.38%
Astoria, OR (FHA|USDA|VA) 3 $1,115,000 $371,667 $7,441 4.38%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 3 $1,095,000 $365,000 $3,587 4.88%
Heber, UT (FHA|USDA|VA) 2 $1,070,000 $535,000 $3,475 5.00%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 3 $1,015,000 $338,333 $13,756 4.29%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $1,010,000 $505,000 $3,810 4.38%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $0 4.25%
COLUMBUS, OH (FHA|USDA|VA) 3 $995,000 $331,667 $2,949 6.04%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $975,000 $325,000 $5,131 6.29%
FAYETTEVILLE, NC (FHA|USDA|VA) 1 $925,000 $925,000 $11,855 6.13%
MANKATO, MN (FHA|USDA|VA) 1 $885,000 $885,000 $4,259 4.50%
FORT COLLINS, CO (FHA|USDA|VA) 2 $880,000 $440,000 $5,691 3.44%
COLUMBIA, SC (FHA|USDA|VA) 4 $860,000 $215,000 $3,306 5.31%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $840,000 $420,000 $3,907 3.50%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 2 $780,000 $390,000 $3,205 4.75%
MOBILE, AL (FHA|USDA|VA) 1 $775,000 $775,000 $4,500 5.13%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $775,000 $775,000 $30,471 3.75%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 2 $710,000 $355,000 $6,688 4.31%
MONROE, LA (FHA|USDA|VA) 2 $690,000 $345,000 $8,143 3.88%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 2 $640,000 $320,000 $5,682 5.06%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $630,000 $315,000 $7,130 4.31%
MANHATTAN, KS (FHA|USDA|VA) 4 $630,000 $157,500 $4,790 4.56%
BOISE CITY, ID (FHA|USDA|VA) 1 $625,000 $625,000 $29,366 4.25%
Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $575,000 $575,000 $3,987 3.00%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $515,000 $515,000 $6,691 6.00%
GREELEY, CO (FHA|USDA|VA) 1 $505,000 $505,000 $3,686 6.13%
Newport, OR (FHA|USDA|VA) 2 $480,000 $240,000 $6,314 5.81%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $475,000 $475,000 $5,463 5.13%
SANTA FE, NM (FHA|USDA|VA) 1 $475,000 $475,000 $4,468 3.00%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $475,000 $475,000 $3,632 5.88%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $465,000 $465,000 $2,535 6.38%
LONGVIEW, TX (FHA|USDA|VA) 1 $465,000 $465,000 $20,770 4.13%
Seneca, SC (FHA|USDA|VA) 1 $435,000 $435,000 $18,212 6.25%
TULSA, OK (FHA|USDA|VA) 1 $425,000 $425,000 $3,137 5.38%
FRESNO, CA (FHA|USDA|VA) 1 $425,000 $425,000 $10,138 4.63%
LAWRENCE, KS (FHA|USDA|VA) 2 $410,000 $205,000 $3,286 3.44%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $385,000 $385,000 $7,821 4.50%
Rutland, VT (FHA|USDA|VA) 1 $375,000 $375,000 $6,063 5.63%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $365,000 $365,000 $3,722 3.75%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $355,000 $355,000 $11,092 5.75%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $355,000 $355,000 $4,501 4.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $335,000 $335,000 $13,004 4.50%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $335,000 $335,000 $3,267 5.63%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $315,000 $315,000 $2,225 5.75%
Danville, KY (FHA|USDA|VA) 2 $310,000 $155,000 $2,782 4.19%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $295,000 $295,000 $6,937 5.63%
MIDLAND, MI (FHA|USDA|VA) 1 $285,000 $285,000 $8,306 2.38%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $285,000 $285,000 $4,259 4.75%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 2 $280,000 $140,000 $4,007 5.31%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1 $275,000 $275,000 $3,114 5.50%
PITTSBURGH, PA (FHA|USDA|VA) 1 $265,000 $265,000 $2,783 2.50%
Hudson, NY (FHA|USDA|VA) 1 $265,000 $265,000 $9,661 7.25%
Owatonna, MN (FHA|USDA|VA) 1 $255,000 $255,000 $3,392 5.75%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $255,000 $255,000 $3,856 4.37%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $245,000 $245,000 $4,060 5.13%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $245,000 $245,000 $4,927 5.00%
FLINT, MI (FHA|USDA|VA) 1 $245,000 $245,000 $5,746 5.25%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $245,000 $245,000 $1,818 4.13%
TOPEKA, KS (FHA|USDA|VA) 1 $245,000 $245,000 $3,263 3.13%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $225,000 $225,000 $6,160 3.13%
ST. CLOUD, MN (FHA|USDA|VA) 1 $225,000 $225,000 $3,373 6.13%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $225,000 $225,000 $6,783 5.50%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $215,000 $215,000 $10,115 4.88%
Warrensburg, MO (FHA|USDA|VA) 1 $215,000 $215,000 $2,084 3.99%
CHEYENNE, WY (FHA|USDA|VA) 1 $205,000 $205,000 $3,240 3.75%
Pella, IA (FHA|USDA|VA) 1 $185,000 $185,000 $2,562 4.88%
SPRINGFIELD, MO (FHA|USDA|VA) 1 $175,000 $175,000 $4,754 5.63%
Ottawa, KS (FHA|USDA|VA) 1 $155,000 $155,000 $2,329 3.00%
COLUMBIA, MO (FHA|USDA|VA) 1 $155,000 $155,000 $2,497 5.50%
Pittsburg, KS (FHA|USDA|VA) 2 $130,000 $65,000 $3,329 4.81%
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 1 $125,000 $125,000 $2,860 5.13%
Moberly, MO (FHA|USDA|VA) 2 $120,000 $60,000 $3,062 6.31%
Paducah, KY-IL (FHA|USDA|VA) 1 $95,000 $95,000 $2,357 3.38%
Academy Bank's top markets include Kansas City, Phoenix, Minneapolis, Chicago, and Denver among others.

Their top states include:
  • Kansas (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Academy Bank 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 273 $129,755,000 $475,293 $4,149 4.60%
    VA 49 $22,705,000 $463,367 $10,117 4.25%
    FHA 14 $3,690,000 $263,571 $8,796 4.79%
    HELOC 2 $1,410,000 $705,000 n/a 6.00%
    USDA 2 $400,000 $200,000 $4,560 5.94%

    For 2022, Academy Bank's most frequently originated type of loan was Conventional, with 273 originations. Their 2nd most popular type was VA, with 49 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 257 $119,055,000 $463,249 $5,698 4.71%
    Cash Out Refi 59 $21,335,000 $361,610 $4,061 4.31%
    Refi 24 $17,570,000 $732,083 $3,017 3.79%

    For 2022, Academy Bank's most frequently cited loan purpose was Home Purchase, with 257 originations. The 2nd most popular reason was Cash Out Refi, with 59 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 313 $126,225,000 $403,275 $5,357 4.64%
    15 Year 13 $3,325,000 $255,769 $3,068 3.19%
    10 Year 5 $22,125,000 $4,425,000 $0 4.46%
    20 Year 3 $745,000 $248,333 $2,926 3.25%
    Other 3 $1,505,000 $501,667 $2,046 4.75%
    5 Year 2 $3,030,000 $1,515,000 $0 5.28%
    1 Year 1 $1,005,000 $1,005,000 $0 5.50%

    For 2022, Academy Bank's most frequently cited loan duration was 30 Year, with 313 originations. The 2nd most popular length was 15 Year, with 13 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 179 $80,225,000 $448,184
    $1k-2k 75 $20,575,000 $274,333
    $2k-3k 27 $7,585,000 $280,926
    $3k-4k 20 $6,490,000 $324,500
    $5k+ 19 $11,475,000 $603,947
    $4k-5k 10 $4,040,000 $404,000

    Academy Bank's average total fees were $5,357, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 179 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 95 $46,565,000 $490,158
    4-5% 91 $47,855,000 $525,879
    5-6% 86 $35,990,000 $418,488
    6-7% 33 $13,265,000 $401,970
    2.5-3% 22 $9,310,000 $423,182
    <2.5% 8 $3,430,000 $428,750
    7-8% 5 $1,545,000 $309,000

    During 2022, Academy Bank's average interest rate for loans was 4.64%, while their most frequently originated rate bucket for loans was 3-4%, with 95 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 138 $40,340,000 $292,319 $4,711 4.66%
    $400k-600k 75 $36,135,000 $481,800 $6,180 4.51%
    $100k-200k 59 $9,335,000 $158,220 $3,561 4.67%
    $600k-1MM 38 $27,660,000 $727,895 $7,157 4.29%
    $1MM+ 20 $43,740,000 $2,187,000 $9,220 4.54%
    $100,000 or less 10 $750,000 $75,000 $3,105 4.49%

    2022 saw Academy Bank place emphasis on $200k-400k loans with 138 originations, totaling $40,340,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 85 $30,805,000 $362,412 $5,377 4.55%
    $150k-250k 67 $30,465,000 $454,701 $5,008 4.43%
    $250k+ 60 $42,060,000 $701,000 $6,305 4.78%
    $75k-100k 48 $14,480,000 $301,667 $5,431 4.56%
    $50k-75k 46 $10,630,000 $231,087 $4,178 4.42%
    $50k or less 18 $2,940,000 $163,333 $4,484 4.98%

    Academy Bank lent most frequently to those with incomes in the $100k-150k range, with 85 originations. The second most popular income band? $150k-250k, with 67 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 69 $26,145,000 $378,913 $4,896 4.45%
    20-30% 62 $23,370,000 $376,935 $4,016 4.70%
    <20% 24 $12,080,000 $503,333 $4,511 4.53%
    41% 24 $9,460,000 $394,167 $6,031 4.56%
    50-60% 20 $9,030,000 $451,500 $6,944 4.47%
    44% 15 $4,935,000 $329,000 $5,004 4.39%
    42% 11 $4,585,000 $416,818 $6,662 4.87%
    36% 11 $4,405,000 $400,455 $6,696 4.26%
    38% 11 $5,075,000 $461,364 $6,216 4.47%
    46% 10 $3,670,000 $367,000 $5,703 5.29%
    47% 10 $3,100,000 $310,000 $5,997 4.64%
    43% 10 $2,970,000 $297,000 $4,096 4.62%
    49% 10 $3,310,000 $331,000 $6,719 3.91%
    40% 9 $3,475,000 $386,111 $4,326 5.12%
    39% 9 $4,145,000 $460,556 $3,865 4.32%
    37% 9 $4,465,000 $496,111 $6,468 4.74%
    45% 8 $4,200,000 $525,000 $8,223 4.41%
    48% 6 $1,690,000 $281,667 $4,356 5.08%
    >60% 1 $145,000 $145,000 $6,390 5.00%

    Academy Bank lent most frequently to those with DTI ratios of 30-36%, with 69 originations. The next most common DTI ratio? 20-30%, with 62 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 249 $100,675,000 $404,317 $5,036 4.59%
    Not applicable 9 $24,195,000 $2,688,333 $0 4.77%
    Not provided 50 $20,600,000 $412,000 $5,452 4.38%
    Black 18 $6,260,000 $347,778 $6,740 4.82%
    Asian 12 $5,280,000 $440,000 $5,360 4.84%
    American Indian 2 $950,000 $475,000 $10,378 2.88%

    Approval Rates

    Total approvals of all applications
    92.09%

    Academy Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    57.94%

    Academy Bank 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 340 $157,960,000 $464,588

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    340 $157,960,000 $464,588

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 16 $4,070,000 $254,375 $3,298 4.07%
    40-60% 53 $22,765,000 $429,528 $3,469 4.53%
    60-80% 119 $64,695,000 $543,655 $4,449 4.59%
    80-100% 139 $60,435,000 $434,784 $5,760 4.68%
    Over 100% 12 $4,990,000 $415,833 $16,607 4.21%
    Under 20% 1 $1,005,000 $1,005,000 $0 4.25%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    Academy Mortgage Corporation Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%