11/21/23 – Thanksgiving Thank You’s!

As we roll through the shortest work week of the year, I want to wish all of you a Happy Thanksgiving!

It has been quite a year, and I am thankful for a lot. First and foremost, I am thankful for my four daughters, the rest of my family, and close friends who always make me feel important, even in the bad years. It’s been a tough year to stay positive with so many negative thoughts in our business, but I have managed to stay positive and increase my market share again.

I am very thankful to my staff, team, and everyone else working at Augusta Financial. They always make me look good and work hard to keep our reputation strong. They always make me proud, and this year was no exception.

I am also thankful to my referral partners, who keep me busy but never as busy as I want, LOL! You have all been a big part of Augusta Financial for the past 28+ years, and some of you pre-date Augusta and go back as far as 33 years! Every loan helps, no matter the size or the hassles that come with those referrals, and I appreciate each and every one of them! 2024 will be a better year for all of us. Thank you for making 2023 bearable. You all have a special place in my heart!

I also want to thank all of my clients, past and present, for allowing us to handle what is likely the most important transaction of your life up to this point. We take great pride in taking good care of you, and we hope to work with you and the people you refer to us someday soon.

Lastly, I want to thank the forgotten people: our friends in Escrow, Title, Appraisal, and those who work in HOAs. Thank you all for your support and hard work to make us look good. A few of you out there need to get with the program, but for the most part, you guys are fantastic! We work well together and rarely do I hear complaints. Thanks for making my job easier.

Lastly, I am thankful that most people I wrote about above have become my friends over the past 33 years. I think the world of most of you, and I want the best for all of you. Yes, I would be lying if I said I love you all, but I can say that I love 97.5% or more of you! I care about 99% of you, and 1% of you are just not my type of people, and that’s OK too! Thank you all for making my life better, and Happy Thanksgiving!

Condo / Townhome issues we know of now. Properties can be financed with 10% down and are considered NON-WARRANTABLE:

1. American Beauty Village – Insurance
2. Scenic Hills – Insurance
3. Mariposa – Litigation – Agreed upon, but not yet recorded
4. Bouquet Canyon Village – Insurance
5. Madison – Litigation
6. West Creek / West Hills – Insurance
7. Cornerstone – Insurance
8. Canyon Oaks – Insurance
9. Brookside Walk – Insurance – NEW as of last week
10. Shadow Ridge – Oak Park – Insurance
11. Cabrini Villas – Burbank – Insurance
12. Sierra Glen Condos – Insurance
13. Las Ventana’s – Litigation

Rates were flat on Monday and I don't expect too much craziness this week! Let’s hope today is quiet on the rate front and I guarantee it will be quiet on Wednesday and Friday.

Interest rates had a great Tuesday and a stormy Wednesday, but today is great again. The tide has turned, and the economy is as strong as it was thought to be a month ago. The inflation numbers are lower. Rates can change quickly, so buyers beware.

• 12-day escrows if your buyer is pre-approved - Conventional / FHA / Jumbo / Bridge
• We do loans in all states, so call me with anything you need.  
• Government Loans (FHA / VA) are in the low to mid 6’s6’s
• Conventional Loans up to $726,200.00 are in the low to mid 7’s7’s
• High Balance Loans $726,201.00-$ 1,089,300.00 are in the high 7’s7’s and low 8’s8’s
• Jumbo loans above $1,089,300 are in the 7’s7’s and 8’s8’s
• Bank statement loans - They are available with 10% down again! 8’s8’s and 9’s9’s depending on down and credit score.
• No income qualifier – 40% down with reserves! In the 8’s8’s!
• 0 down loans are in the high 7’s7’s – 660 credit score min right now, up to $740,000.00.
• Private Money lenders - hard Money Loans – 35% down!
• No Ratio Loans 30% down
• Debt Service Coverage loans with as little as 25% down
• Bridge Loans - are typically 8.49% with limited fees – But they get you where you need to go!
• 0 down California Dream for all Equity Share – Postponed until February???
• 3/2/1 Buydowns 2/1 Buydowns and 1/0 Buydowns are available at great start rates!

Interest rates are subject to change without notice! Above are LA County Loan Limits.

I am available all week and weekend if you have any questions or if someone is interested in buying a property! My cell is 661-714-6258, and my office line is 661-260-2970 ext. 2222. Please text (661-714-6258) or email me at Mike@AugustaFinancial.com.

Have a great day and an even better tomorrow! Please call me when you have a client who needs to borrow!