"I will recommend Michael Deery and Citywide Financial to all my friends who are looking to finance their mortgage. He was proactive in getting me the best rate and the best fit for my income and budget, a tremendous relief during this tough economic climate. I had complete faith in him throughout the process, he was always available to answer any questions I had along the way. The paperwork seemed overwhelming at times, but Hallie his assistant was accommodating and supportive whenever I needed clarification. I am so appreciative of everything that Michael and his team did for me, it was a truly great experience".
Heather Jeffrey, San Diego, CA
Free Credit Report and Loan Approval!
If you are looking to refinance or purchase a new home, call us today for a 5 minute consultation and we will check your credit for free and also send you a copy of your loan approval letter. We will also complete your loan approval within 24 hours of providing us with your loan application.
IMPORTANT: When looking to purchase a home in today’s marketplace, it is very important to be approved for financing before you begin your home search and put in any offers, as sellers will want to verify that you have your financing in place first.
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If you are looking to sell your home, or you are interested in refinancing and would like to know an estimated value of your home, we have access to several appraisal companies who can run automated appraisal reports to determine the value of a home. These automated appraisal reports will pick up the most recent sales in a neighborhood, so you can get a more accurate estimation of your home value. If you would like one of these reports, just let us know and we can run it for you. This site below will also give you an estimation of your home value.
Our client was a first time home buyer who was unable to qualify for a loan, as her credit scores were below the minimum requirement of 600 for FHA financing. We put together a plan to fix her credit and improve her scores in one week. First we ran a "credit analyzer" on her credit report, so we could determine what debts she had to pay down to increase her credit scores.
After she paid down 2 credit cards, we ran a “rapid re-score” on her credit, which is a way to immediately update her credit scores in 3 business days, instead of waiting roughly 30 days for the credit scores to update by themselves. In less than one week, we were able to get her scores increased by 40 points and over 600, so now she was able to get approved for a loan. I am happy to say she just closed escrow on her new home and she is now a happy first time homebuyer :).
Welcome to Our Website!
Thank you for considering us to assist with your financing needs. Whether you are looking to purchase a new home or aiming to refinance your current loan, or you are seeking a first time mortgage or home equity loan, we will help you find the best loan program and lowest interest rate for your situation. Please take a moment to watch our video below, which will help you navigate through our website and help you find the information you are looking for
Tips for Refinancing
Tips for Purchasing a Home
Tips for Selling Your Home
Credit Education and Improvement Tips
Michael's Mortgage and Real Estate Reports
Mortgage Rates Remain at 40 Year Lows at 3.41%
September 21st, 2016
There is good news for homebuyers and homeowners, as mortgage rates are at 40 year lows! Rates are at 3.41% on a conventional 30-year fixed, 2.74% on a 15-year fixed, and 3.125% on a VA or FHA 30-year fixed. As 30-year rates were as high as 4.125% at the turn of the year, a homebuyer has gained over 7.5% in purchasing power in just the past 6 months, which means a buyer who could afford a $475k home in December, can now afford a $510k home today using the same monthly payment. It's a great time to borrow money for a home purchase, or to refinance and lower your interest rate and monthly payment.
NEW Jumbo Mortgage Program: The New 5% Down Jumbo Conventional Mortgage With No Monthly PMI
September 18th 2016
The new 5% down Jumbo Conventional mortgage with No monthly PMI is a terrific financing option for borrowers who want to purchase a home or refinance. For example, it will allow buyers to purchase a home up to $600k in San Diego or $655k in LA with only 5% down, and have the option of No monthly PMI. Until now, jumbo buyers had to put 10% down if they wanted to purchase a home and borrow over the conventional loan limit of $417k, or they were stuck with FHA financing with expensive mortgage insurance. Check out how to qualify for this new Jumbo Conventional mortgage program.
NEW Mortgage Program: Purchase a Home With Only 1% Down and No Monthly Mortgage Insurance "PMI"
September 15th, 2016
There is a terrific new mortgage program available for borrowers who want to purchase a home or refinance! It is a conventional mortgage that only requires a 1% down payment, and there is also an option to eliminate the monthly mortgage insurance “PMI”. Until recently, buyers had to put down 3% to qualify for conventional financing, or they were stuck with FHA financing and expensive monthly mortgage insurance if they only had a minimum down payment. Check out how to qualify for this program.
Effective Immediately: FHA Lowers Monthly Mortgage Insurance Premiums on All FHA Loans
September 10th, 2016
There is great news for buyers and current FHA homeowners who would like to refinance, as the FHA lowered their Monthly Mortgage Insurance for the first time since 2001! The FHA lowered it's annual MIP (monthly mortgage insurance premiums) by 50 basis points (0.50%) on all new loans, which will drop the monthly FHA insurance from 1.35% to .85% of the loan balance for any buyer who puts down the minimum of 3.5%. On a $400k loan for example, the monthly MIP drops from $450 a month to $283, savings of $167 a month. This means a buyer can either take advantage of a lower monthly payment, or be able to afford a bigger home. With 1 in 4 homebuyers using FHA financing to purchase a home, check out why FHA remains one of the best low down payment options available for borrowers.
September 5th, 2016
There are many factors that determine the interest rate on your mortgage. Also understanding why rates move up and down each day is quite simple, once you understand some basic economic fundamentals. The most frequently asked questions that buyers and homeowners ask are “What’s my rate”, or “How is my mortgage rate determined” or “why is my rate higher than what I hear on the TV or radio?, or “Do you see rates increasing when I am ready to buy in a few months?”. With these questions in mind, here is a quick guide that will help you better understand what different factors determine the rate on your mortgage.
9 Ways Buyers Can Accidentally Disqualify Their Loan Before Closing
September 2nd, 2016
Our underwriters have been warning us about an increase in borrowers who are accidentally disqualifying their loan before the closing. For example, they advise that borrowers are going out and buying furniture on credit or a new car before closing, or they change jobs, which unfortunately may now disqualify their loan before closing. These mistakes will happen and will continue to happen if borrowers are not being coached properly before or during the loan process until they close escrow. Here are the 9 most common mistakes that borrowers make which may accidentally disqualify their loan before closing.
Michael writes Mortgage and Real Estate articles for the San Diego Union Tribune newspaper. You can check out some recent articles BELOW.
- VA home loans play important role in San Diego housing market
- FHA home loans play important role for buyers in local housing markets
- A low down payment loan that's not FHA and has no PMI
- Fannie Mae changes waiting periods for buyers with prior Short Sale
- VA home loans play important role in San Diego housing market
- NEW loan program for home buyers: 3% down with No monthly Mortgage insurance
- The different factors that determine the rate on a mortgage
- Purchase a home with only 5% down and No monthly mortgage insurance "PMI"
- Waiting periods for repurchasing a home after a financial hardship
- FHA change eases wait time for buyers with past foreclosure or short sale to one year
- Purchase a Home With Only 3% Down and No Monthly Mortgage Insurance "PMI"
- 2015 Rules Buyers and Sellers Must Know About Financing Flipped Properties
- VA Frequently asked Questions and Tips for Borrowers
- FHA Frequently Asked Questions and Tips for Borrowers
- 2015 Waiting Periods for Repurchasing or Refinancing After a Foreclosure, Short Sale or BK
- Down Payment Assistance Programs For Buyers
- The Different Factors That Determine the Rate on Your Mortgage
- 7 Tips to Help Get a Buyers Purchase Offer Accepted
- How to Refinance your Home to 95% and Not Pay Any Mortgage Insurance
- The Road to Homeownership-An Infographic of the Home Buying Process
- Why 40% of Homeowners Are Doing "Cash in" Refinances
- Understanding Supplemental Property Taxes in California
- Appraisal Tips for Homeowners to Ensure Your Refinance Goes Smoothly
- Appraisal Tips for Sellers to Protect the Contract Sales Price
- Bi-Weekly Mortgage Payments Will Help You Payoff Your Mortgage Faster
- How to Improve Your Credit and Score the Best Rates
- FHA Reduces Wait Times for Buyers Who Had Foreclosure or Short Sale to 1 Year
- Conventional or FHA Financing: What's Best for Buyers?
- FHA Borrowers Will Pay Mortgage Insurance for the Life of Loan Starting June 2013
- How to Improve your Credit and Score Lower Interest Rates!
- How to Qualify for Obama's Negative Equity Refinance Program HARP 2.0
- Tax Benefits and Deductions for Homeowners
- The Cost of Waiting to Buy: Compare Buying With a 4% vs 5% Rate
- The New 25 Year Fixed Mortgage is Available