Academy Mortgage Corporation

 Guaranteed   
 
 
 
2 Hour approvals:
 
What do you need to do a 2 hour approval?
In most cases we can approve you in 2 hours starting from when we get the complete online application. The two hours may start the next business day when an application comes to us after hours.
 
We provide a conditional loan approval based on the information provided by the client.
You can usually get an automated approval, suspension, or denial within 2 hours.  
 
What if I start but don’t finish the application?
We begin the 2 hour period once we receive a complete online application.
 
What if I fill it out at 2 am on a Saturday - is it still 2 hours?
Our business hours are M-F,  9-5. So any application received on an evening or weekend will begin the 2 hour time frame on the next business day at 9 am.
 
Are all loan types eligible for this fast approval?
No. This is for FHA, VA and Conventional only.
USDA and any manual underwritten files are not eligible for the 2 hour approval.
 
 
 
2 Week Close:
 
 
When does the 2 week clock start ticking?
When we receive the seller signed contract in our possession and our manager has approved your file for this program.  (usually same day or next day)
 
How can you guarantee a 2 week close?
Only with your help!  As Arizona mortgage lenders we spent 5 months sharpening a back end system that provide priority and extra staff to handle these files.
We must have cooperation from agents and clients. Such as, all requested items from the borrower returned within 24 hours. Appraisal funds must be delivered to us the same day that the seller signed contract is delivered to us.Underwriter's requested conditions must be provided within 24 hours.
 
Does that mean I will have my keys and move in within 2 weeks?
NO. We guarantee that you will have docs at your title company for you to sign and “close” within 2 weeks from when you provide us a seller signed complete contract. From that point it is usually 1-2 days to fund and then you get your keys.
 
What if my tax returns or documents takes me several days to provide?
The 2 week close might be voided, and you still fall into our 30 day Guarantee!
 
What if the appraisal comes in low or I find major property issues?
If there are major property issues or value issues that would require you to go back and renegotiate with the seller or repair the property then the 2 week close may be voided and you still fall into our 30 day Guarantee!
 
What about delays that are not my fault or your fault?
Delays do happen at times such as the property needing repair or termites were found or the seller takes 10 days to sign an addendum etc? These may void the 2 week guarantee, and you still fall into our 30 day Guarantee!
 
What guarantee do I get?
 
We will pay you (client) 100 dollars per business day that goes past having docs at your title company in 14 calendar days from the day we get the complete seller signed contract in our possession and our manager approves the file for a 2 week close.  (Assuming that all items have been accomplished according to the guidelines stated here)  
Example = contract comes to us on Monday the 1st of the month. 14 days later would be Tuesday the 15th. With a file that was authorized for this program If docs arrive to title on Wednesday the 16th we pay you 100 dollars, Thursday the 17th ...we pay another 100 dollars. 
 
That amount will be applied directly to your closing costs. It is against state and federal banking regulations to pay cash directly to a client.  
 
 
 
 
30 Day Guarantee : 
 
You get 150 dollars per day for every business day that we do not have docs to the title company from the day that the seller signed contract arrived in our hands.  Except in situations whereby the lender could not deliver docs due to the actions of another party in the transaction.
 
This can include but not limited to... the property not passing FHA inspection, renegotiations with the seller taking an extra several weeks, borrower not able to provide required documents, borrower not able to qualify due to job loss, or a change in income, assets, credit or employment, or seller or buyer breach etc.
 
 
 
Click HERE to see testamonials from realtors and past clients!