Michael Deery's (michaeldeery) Blog

The Bi-Weekly Payment Plan is a convenient mortgage budgeting plan that can help you save thousands of dollars in interest and pay off your mortgage sooner. The biweekly mortgage payment plan is pretty easy to set up, as there are 3 different ways to make payments that will accomplish the same r...

You may have heard the recent FHA press release on November 16th whereby the FHA announced they are increasing their monthly Mortgage Insurance Payments “MIP” again on all new buyers come this spring, but what you may not have heard, is that the FHA is eliminating MIP removal on loans taken out a...

A question that all FHA buyers ask is “How and when can I cancel the FHA mortgage insurance from my monthly payment?” Did you know that a FHA buyer who only puts down the minimum down payment of 3.5%, AND only makes their minimum monthly mortgage payment each month, will pay monthly Mortgage Ins...

With multiple offers going in on properties these days in many Real Estate markets around California, it is important that a buyers offer stands out from the crowd so it is given every chance of getting accepted! As full transparency is the key to getting an offer accepted, here are 5 tips that y...

Owning a home has always been the American Dream. Unfortunately the recession and bursting of the housing bubble has caused concern among home buyers. Now we have too many of them sitting on the fence thinking renting is a better alternative to owning a home. As first time buyers make up almost 5...

Did you know there are over 2.3 million veterans now living in California alone, and with a large percentage of these based in San Diego, working with VA buyers presents a tremendous opportunity to help you grow your business. I believe VA financing is the best purchase product available in the m...

A lot of homeowners today assume they cannot refinance because they do not have enough equity to do so, or if they refinance a loan over 80% of their property value the loan will automatically carry mortgage insurance. That is not the case anymore as Fannie Mae is now offering a new limited equi...

    Greetings, There is good news for buyers. Did you know that buyers can now purchase a condo with 95% conventional financing with NO mortgage insurance "MI". Instead of just thinking about FHA financing when only a low down payment is available, buyers now have a great opportunity to save addi...

Most first time buyers today assume they have to get FHA financing to qualify for a low down payment loan option to purchase a home. That is not the case anymore as Fannie Mae is now offering financing up to 95%. Also, did you know there is now an option where you can choose to NOT pay mortgage i...

There is now an incredible opportunity for first time home buyers in California. If you work with first time buyers and they need help coming up with enough funds for a down payment to qualify for a FHA loan, the good news is that there are now down payment assistance programs available. For exam...