Michael Eberhardt

NMLS# 205119

Branch Manager, Producing

Michael Eberhardt
Branch Manager, Producing

NMLS# 205119
State Lic: CA # CA-DOC205119; AZ # 0911910;
2730 West Agua Fria Freeway
Suite 101
Phoenix, AZ 85027
Direct: (480) 500-4581
Mobile: (602) 499-8001

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It’s all about service at Academy Mortgage, and our company has been meeting the needs of homebuyers across the United States since 1988. I joined Academy because of its strong reputation for integrity-based mortgage lending, its unwavering commitment to responsible lending practices, and for its broad portfolio of mortgage solutions and tools.

Since joining Academy, I have helped many individuals and families attain the dream of homeownership. Whether you want to buy a new home or refinance an existing mortgage, I will provide a customized solution for you at competitive rates. No brokering, no middleman, no hassle, no surprises.

Academy is a direct lender, which means that my Branch and Regional Offices are equipped to complete the entire loan process in-house—all loan processing, underwriting, closings, and funding are handled locally. As a result, we have a proven track record of closing loans as quickly and efficiently as possible.

I will be in control of your loan file from start to finish, and I will be up-to-date on the status of your loan at all times. I understand the importance of maintaining continuous communication throughout the loan process and commit to providing you accurate, timely, and honest mortgage advice.

I invite you to put us to the test. Let me show you how simple and easy securing a mortgage can be.

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Mike is able to simplify the lending process navigating the ever-changing rules of lending. This is not an easy task. But he can speak to a buyer and put it all together in a matter of minutes. Mike has the ability to save everyone time and money by suggesting the proper course of action to fit the needs to the goal and achieve the best end result. Lynn Carlton

NMLS# 205119

State Lic: CA: CA-DOC205119; AZ: 0911910;

Corp Lic: CA: 4170013; AZ: BK-0904081;

Licensed by the Department of Business Oversight Under the California Residential Mortgage Lending Act;


Homes may be in higher demand this fall

While fall is typically a time of lower demand, a healthy fall full of housing activity may be shifting the market in favor of sellers.

Some sellers able to list properties at higher prices. According to Redfin, the housing market's performance in September demonstrated how healthy the industry has been throughout the entire year. The median sale price for a home increased 5.8% when compared to the previous year.

This increase is supported by a higher demand for housing. Sales of homes jumped 9% when compared on a year-over-year basis. 

Another indication of a rising demand for real estate is that the volume of houses sold above listing price is 19.4%, which is 2.3% higher when compared year over year. 

High demand expected to continue in October. Redfin's Housing Demand Index Reports forecast home prices will increase 5.1% and sales will rise 7.9%.

Many regions are seeing properties being sold very quickly, especially when the home is located in a very desirable area.

"Homes in hot neighborhoods like Logan Square used to be snatched up in a few days and now it's two to three weeks," said Chicago Redfin real estate agent Dan Close.

For those looking to sell, the current real estate market is most conducive to sellers. With the right technique, individuals can make a great deal on their properties. 

Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2014 CoreLogic Marketrac Report. Contact me to find a loan, get a rate, or calculate your payment today.


Pending home sales decrease slightly

The National Association of Realtors® reported pending home sales fell in September. All four major regions saw dips in sales.

The Pending Home Sales index is used to measure the health of the housing sector by evaluating pending sales of existing homes. 

Pending home sales cool in September. According to the index, pending home sales decreased 2.3% when compared on a month-over-month basis. This represents the lowest number of contract signings for a single month in 2015. However, the number is 3% higher than that of September 2014.

The decrease in interested homebuyers may improve overall affordability for those currently searching for a house. However, that doesn't mean the demand for real estate is necessarily unhealthily decreasing. 

"With interest rates hovering around 4 percent, rents rising at a near 8-year high, and job growth holding strong - albeit at a more modest pace than earlier this year - the overall demand for buying should stay at a healthy level despite some weakness in the overall economy," said Lawrence Yun, the NAR's® chief economist. 

Home affordability improved in August. When compared on a month-over-month basis, the median price for an existing single-family home decreased $3,200, according to the National Association of Realtors'® Housing Affordability Index

Improving affordability is likely welcome news for those applying for a U.S. home mortgage. 

Regional home sales dip. The index showed the Northeast saw a 4% dip in September to 89.6. However, it still remains 3.9% higher when compared on a year-over-year basis. Pending home sales in the Midwest decreased 2.5% to 104.7, but also remained higher than the sales seen in September 2014, according to the NAR®. 

The South also saw a decrease of 2.6% from the previous month, and settled at 118.3. This figure is only 0.1% below last September's data. The West decreased 0.2% to 104.4, which is 6.6% higher than seen in September 2014. 

Availability may be contributing to the dip in pending home sales. 

"There continues to be a dearth of available listings in the lower end of the market for first-time buyers, and Realtors® in many areas are reporting stronger competition than what's normal this time of year because of stubbornly-low inventory conditions," Yun said. "Additionally, the rockiness in the financial markets at the end of the summer and signs of a slowing U.S. economy may be causing some prospective buyers to take a wait-and-see approach."

Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2014 CoreLogic Marketrac Report.. Contact me to find a loan, get a rate, or calculate your payment today.


Do you know what questions to ask when you are shopping for a mortgage?

When shopping for a mortgage, you will find that most lenders’ loan products will be pretty close to each other in rates and fees. But rates mean nothing if your loan is not approved or can’t close on time! Today, with new strict lending guidelines, you really need to work with a lender who can get your loan approved and closed quickly and efficiently. How do you find such a lender? Here are some questions to ask:

1. Are you lending your own money? As a direct lender, Academy Mortgage controls the process from application through closing and funding. We lend our own money, so we make the decision to lend.

2. How many people will be involved in the loan process? At Academy, it’s the loan officer, processor, and underwriter. That’s it. You will always know what is happening with your loan.

3. Who will do the appraisal and how will it be assigned? Academy uses experienced, local appraisers whom we assign on a rotational basis. Many other lenders use third-party appraisal management companies that put the appraisal out to bid; in such cases, the appraiser with the lowest bid, regardless of experience or local knowledge, often gets the assignment.

4. How fast can you close? Because we are a direct lender, Academy can adjust priorities if necessary. This is particularly important when purchasing short sales where the time frame to close is short after the servicer of the existing loan agrees to the short sale.

5. Can your loan officers work directly with the underwriters? Academy’s loan officers work with in-house underwriters who answer questions, resolve issues, and understand that every loan has individual characteristics that DESERVE PERSONAL ATTENTION.

6. Who prepares the closing package and arranges funding? Academy has closers in our branches who make sure your loan closes on time and without surprises. Many other lenders have centralized closing departments that are unfamiliar with the file and have multiple conflicting priorities with getting packages out.

7. How many days in advance do you typically have the package to the settlement attorney? Academy strives to get packages out at least 48 hours prior to closing. Many other lenders end up sending packages at the last minute, which leads to a lot of stress. Settlement attorneys LOVE Academy because we make their jobs easy. They have a single point of contact (the closer) to get the package and resolve any last minute issues.

Today, it’s all about execution and accountability. Purchasing a home will likely be the largest financial decision you will ever make, so you need to work with a lender who will put your needs first and get things done fast!