Academy Bank Mortgage Rates, Fees & Info

Kansas City, MO

LEI: 549300LP0CV2MNC1GV68

Tax ID: 84-0567796

5 stars - Updated: 5/20/24 - out of 5 stars, based on 16 reviews

Latest/2023 | 2022 Data | 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, Denver, and Astoria among others. We have data for 70 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 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.

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% 5/20/24
30 Year Conventional Purchase 6.57% 5/20/24
30 Year Conventional Refi 6.32% 5/20/24
30 Year Cash-out Refi 6.61% 5/20/24
30 Year FHA Purchase 6.97% 5/20/24
30 Year FHA Refi 6.27% 5/20/24
30 Year VA Purchase 5.77% 5/20/24
30 Year VA Refi 6.00% 5/20/24
30 Year USDA Purchase 6.75% 5/20/24
15 Year Conventional Purchase 6.07% 5/20/24
15 Year Conventional Refi 5.69% 5/20/24
15 Year Cash-out Refi 5.69% 5/20/24
15 Year VA Purchase 5.62% 5/20/24
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.

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

254

Origination Dollar Volume (All Markets)

$110,970,000

Awards

Academy Bank 30 Year Conventional Loans silver Academy Bank 30 Year Conventional Loans gold Academy Bank FHA Loans bronze Academy Bank VA Loans bronze
Show all (4) awards

Relative Rate

Academy Bank's average 30 year fixed mortgage rate was 6.79%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.31%.

Relative Fees (Closing Costs)

Academy Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $5,569.

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
KANSAS CITY, MO-KS (FHA|USDA|VA) 114 $45,690,000 $400,789 $4,268 6.93%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 20 $7,760,000 $388,000 $5,031 6.89%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 13 $5,685,000 $437,308 $5,917 6.65%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 5 $3,725,000 $745,000 $6,914 6.68%
Outside of Metro Areas 5 $3,345,000 $669,000 $4,069 7.95%
Astoria, OR (FHA|USDA|VA) 6 $2,990,000 $498,333 $10,684 6.29%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 4 $2,020,000 $505,000 $5,439 7.63%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 2 $2,000,000 $1,000,000 $4,490 7.19%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 3 $1,955,000 $651,667 $3,887 6.50%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,895,000 $1,895,000 $0 7.75%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 5 $1,845,000 $369,000 $3,383 6.55%
Heber, UT (FHA|USDA|VA) 1 $1,525,000 $1,525,000 $3,559 7.13%
LAWRENCE, KS (FHA|USDA|VA) 1 $1,515,000 $1,515,000 $2,527 8.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 2 $1,290,000 $645,000 $7,560 7.38%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $1,265,000 $1,265,000 $24,054 6.13%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 3 $1,165,000 $388,333 $9,463 6.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $1,090,000 $545,000 $5,290 6.56%
Fredericksburg, TX (FHA|USDA|VA) 1 $1,045,000 $1,045,000 $0 6.38%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 2 $1,020,000 $510,000 $5,450 6.75%
Granbury, TX (FHA|USDA|VA) 1 $935,000 $935,000 $7,325 6.63%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $915,000 $915,000 $46,316 5.50%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 2 $910,000 $455,000 $5,181 6.06%
TUCSON, AZ (FHA|USDA|VA) 2 $780,000 $390,000 $4,186 6.44%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $770,000 $385,000 $0 6.13%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $755,000 $755,000 $9,046 6.88%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $750,000 $375,000 $4,842 7.13%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $745,000 $745,000 $4,022 6.00%
GAINESVILLE, FL (FHA|USDA|VA) 2 $690,000 $345,000 $15,118 6.69%
BOULDER, CO (FHA|USDA|VA) 1 $655,000 $655,000 $6,326 6.00%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 1 $615,000 $615,000 $6,309 5.75%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $605,000 $605,000 $19,559 5.88%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $565,000 $565,000 $3,657 6.63%
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 2 $560,000 $280,000 $5,761 6.19%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $525,000 $525,000 $6,378 6.63%
COLUMBIA, SC (FHA|USDA|VA) 1 $525,000 $525,000 $10,360 5.13%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $515,000 $515,000 $11,081 6.13%
ROCHESTER, NY (FHA|USDA|VA) 1 $515,000 $515,000 $20,524 7.00%
WICHITA, KS (FHA|USDA|VA) 3 $495,000 $165,000 $8,112 5.88%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $485,000 $485,000 $5,048 7.00%
ALBUQUERQUE, NM (FHA|USDA|VA) 2 $470,000 $235,000 $2,242 6.88%
Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $465,000 $465,000 $3,930 6.63%
ST. LOUIS, MO-IL (FHA|USDA|VA) 2 $450,000 $225,000 $3,416 6.81%
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 1 $435,000 $435,000 $10,448 5.25%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $415,000 $415,000 $2,938 5.25%
LOUISVILLE, KY (FHA|USDA|VA) 1 $415,000 $415,000 $17,696 4.75%
ROCHESTER, MN (FHA|USDA|VA) 1 $405,000 $405,000 $3,513 7.63%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $365,000 $365,000 $7,119 7.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $355,000 $355,000 $6,726 5.50%
MANKATO, MN (FHA|USDA|VA) 1 $345,000 $345,000 $4,944 7.13%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $345,000 $345,000 $4,350 7.38%
ST. JOSEPH, MO-KS (FHA|USDA|VA) 3 $345,000 $115,000 $4,647 6.83%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $325,000 $325,000 $4,572 6.88%
Del Rio, TX (FHA|USDA|VA) 1 $325,000 $325,000 $14,192 5.75%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $305,000 $305,000 $3,303 6.88%
YORK-HANOVER, PA (FHA|USDA|VA) 1 $265,000 $265,000 $4,484 6.88%
SAVANNAH, GA (FHA|USDA|VA) 1 $265,000 $265,000 $4,101 7.88%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $255,000 $255,000 $3,977 6.38%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $255,000 $255,000 $4,282 7.88%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $245,000 $245,000 $5,183 6.63%
Oxford, MS (FHA|USDA|VA) 1 $245,000 $245,000 $4,464 6.63%
BEND, OR (FHA|USDA|VA) 1 $225,000 $225,000 $0 6.63%
AKRON, OH (FHA|USDA|VA) 1 $195,000 $195,000 $0 7.38%
COLUMBUS, OH (FHA|USDA|VA) 1 $195,000 $195,000 $6,733 6.13%
PUEBLO, CO (FHA|USDA|VA) 1 $185,000 $185,000 $10,074 6.50%
Manitowoc, WI (FHA|USDA|VA) 1 $155,000 $155,000 $1,962 7.00%
EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $145,000 $145,000 $5,285 6.63%
SPRINGFIELD, MO (FHA|USDA|VA) 1 $125,000 $125,000 $6,100 6.50%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $125,000 $125,000 $0 6.75%
TOPEKA, KS (FHA|USDA|VA) 1 $105,000 $105,000 $4,795 6.88%
Moberly, MO (FHA|USDA|VA) 1 $85,000 $85,000 $4,478 6.13%
Academy Bank's top markets include Kansas City, Phoenix, Minneapolis, Denver, and Astoria among others.

Their top states include:
  • Kansas (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Texas (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 198 $89,270,000 $450,859 $4,059 6.95%
    VA 36 $16,930,000 $470,278 $11,496 6.14%
    FHA 19 $4,515,000 $237,632 $7,967 6.43%
    USDA 1 $255,000 $255,000 $5,012 6.38%

    For 2023, Academy Bank's most frequently originated type of loan was Conventional, with 198 originations. Their 2nd most popular type was VA, with 36 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 228 $99,990,000 $438,553 $5,536 6.78%
    Cash Out Refi 14 $5,950,000 $425,000 $7,430 6.74%
    Refi 6 $2,980,000 $496,667 $3,162 7.15%
    Other 5 $1,845,000 $369,000 $4,370 7.28%
    Home Improvement 1 $205,000 $205,000 $2,870 6.50%

    For 2023, Academy Bank's most frequently cited loan purpose was Home Purchase, with 228 originations. The 2nd most popular reason was Cash Out Refi, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 250 $106,810,000 $427,240 $5,569 6.79%
    15 Year 2 $760,000 $380,000 $2,675 6.69%
    10 Year 1 $1,505,000 $1,505,000 $0 7.25%
    Other 1 $1,895,000 $1,895,000 $0 7.75%

    For 2023, Academy Bank's most frequently cited loan duration was 30 Year, with 250 originations. The 2nd most popular length was 15 Year, with 2 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 154 $69,940,000 $454,156
    $1k-2k 24 $7,180,000 $299,167
    $5k+ 17 $9,535,000 $560,882
    $2k-3k 16 $5,870,000 $366,875
    $3k-4k 9 $3,095,000 $343,889
    $4k-5k 9 $5,015,000 $557,222

    Academy Bank's average total fees were $5,569, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 154 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 138 $59,700,000 $432,609
    7-8% 78 $33,120,000 $424,615
    5-6% 29 $13,815,000 $476,379
    Over 8% 7 $3,225,000 $460,714
    4-5% 2 $1,110,000 $555,000

    During 2023, Academy Bank's average interest rate for loans was 6.79%, while their most frequently originated rate bucket for loans was 6-7%, with 138 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 110 $32,710,000 $297,364 $4,426 6.85%
    $400k-600k 63 $30,025,000 $476,587 $5,946 6.81%
    $100k-200k 31 $4,615,000 $148,871 $4,765 6.92%
    $600k-1MM 31 $23,035,000 $743,065 $9,199 6.39%
    $1MM+ 14 $20,150,000 $1,439,286 $6,098 7.03%
    $100,000 or less 5 $435,000 $87,000 $3,271 6.55%

    2023 saw Academy Bank place emphasis on $200k-400k loans with 110 originations, totaling $32,710,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 65 $28,145,000 $433,000 $5,493 6.77%
    $100k-150k 61 $21,995,000 $360,574 $7,445 6.69%
    $250k+ 59 $41,985,000 $711,610 $5,460 6.87%
    $75k-100k 32 $8,950,000 $279,688 $3,952 6.86%
    $50k-75k 23 $4,655,000 $202,391 $3,751 6.92%
    $50k or less 9 $1,215,000 $135,000 $5,902 6.57%

    Academy Bank lent most frequently to those with incomes in the $150k-250k range, with 65 originations. The second most popular income band? $100k-150k, with 61 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 42 $18,670,000 $444,524 $5,109 6.65%
    20-30% 42 $16,220,000 $386,190 $4,900 6.74%
    50-60% 16 $6,320,000 $395,000 $7,705 6.33%
    40% 15 $5,785,000 $385,667 $3,834 6.84%
    38% 15 $5,585,000 $372,333 $5,527 6.75%
    <20% 13 $5,705,000 $438,846 $3,865 6.87%
    44% 13 $4,915,000 $378,077 $4,915 7.19%
    43% 12 $5,640,000 $470,000 $5,005 6.86%
    47% 12 $4,290,000 $357,500 $6,404 6.82%
    42% 11 $6,195,000 $563,182 $5,784 7.07%
    48% 11 $3,845,000 $349,545 $7,090 7.07%
    37% 10 $5,530,000 $553,000 $3,198 7.05%
    49% 9 $4,485,000 $498,333 $5,854 6.74%
    46% 8 $2,910,000 $363,750 $10,078 6.53%
    45% 7 $2,665,000 $380,714 $5,593 7.14%
    41% 6 $2,670,000 $445,000 $11,596 6.52%
    36% 5 $2,755,000 $551,000 $2,597 7.20%
    39% 3 $2,475,000 $825,000 $7,566 6.67%
    >60% 2 $910,000 $455,000 $5,248 6.25%

    Academy Bank lent most frequently to those with DTI ratios of 30-36%, with 42 originations. The next most common DTI ratio? 20-30%, with 42 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 191 $79,515,000 $416,309 $5,314 6.81%
    Not provided 38 $17,740,000 $466,842 $6,933 6.67%
    Asian 16 $7,040,000 $440,000 $6,272 6.91%
    Not applicable 2 $3,400,000 $1,700,000 $0 7.50%
    Black 7 $3,275,000 $467,857 $3,515 6.70%

    Approval Rates

    Total approvals of all applications
    92.02%

    Academy Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    53.15%

    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 254 $110,970,000 $436,890

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    254 $110,970,000 $436,890

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $3,345,000 $304,091 $3,122 6.48%
    40-60% 22 $8,610,000 $391,364 $4,029 6.81%
    60-80% 84 $37,580,000 $447,381 $4,660 6.87%
    80-100% 127 $57,345,000 $451,535 $5,523 6.80%
    Over 100% 8 $3,910,000 $488,750 $21,252 6.30%
    Under 20% 2 $180,000 $90,000 $2,022 7.00%