Academy Bank Mortgage Rates, Fees & Info
Kansas City, MOLEI: 549300LP0CV2MNC1GV68
Tax ID: 84-0567796
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/28/24 |
| 30 Year Conventional Purchase | 6.57% | 4/28/24 |
| 30 Year Conventional Refi | 6.32% | 4/28/24 |
| 30 Year Cash-out Refi | 6.61% | 4/28/24 |
| 30 Year FHA Purchase | 6.97% | 4/28/24 |
| 30 Year FHA Refi | 6.27% | 4/28/24 |
| 30 Year VA Purchase | 5.77% | 4/28/24 |
| 30 Year VA Refi | 6.00% | 4/28/24 |
| 30 Year USDA Purchase | 6.75% | 4/28/24 |
| 15 Year Conventional Purchase | 6.07% | 4/28/24 |
| 15 Year Conventional Refi | 5.69% | 4/28/24 |
| 15 Year Cash-out Refi | 5.69% | 4/28/24 |
| 15 Year VA Purchase | 5.62% | 4/28/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
340Origination Dollar Volume (All Markets)
$157,960,000Awards
Academy Bank - 2022
Academy Bank is a 2022 , due to their low .
For 2022, 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 |
|---|---|---|---|---|---|
| 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% |
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Product Mix
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
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
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
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
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
2022 saw Academy Bank place emphasis on $200k-400k loans with 138 originations, totaling $40,340,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications92.09%
Academy Bank has an average approval rate.
Pick Rate
Approvals leading to origination57.94%
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 |
LTV Distribution
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% |