8/24/23 – Mamba Day – What Mamba Would Mentality do for your business?

August 24, 2023. MAMBA DAY! I love this day because Kobe meant so much to me as a Lakers fan and a hard worker. I watched the Redeem Team Documentary about the 2008 Olympic Basketball team with my Dad on Sunday. As you get to the film’s second half, the US Olympic team brings in Kobe, and he shows what work ethic and dedication mean. Love or hate him; you must respect him and his hard work. His Mamba Mentality spread through the Olympic team, and he had every team member trying to match his work ethic. We all have to fight through adversity; this market is no different from what he did for 20 years.

Kobe tore his Achilles, walked to the free-throw line, made two free throws and walked off the court under his own power. He worked out four times daily to ensure he was getting better and creating separation between himself and his peers. He watched tape not only of himself and other teams, but of the officials to see where they positioned themselves so he could see where he could take advantage of an opponent without the officials noticing. A lot of you agents have that one down! LOL! Kobe didn’t like to pass the ball to players he felt didn’t work as hard as he did because he didn’t think they were prepared to make the big shot!

In 2019, there were 130,000 Mortgage originators in the US. In 2021, there were 174,000, and now there are just 97,000, and only about 2/3rds of the 97,000 will make a living this year.

I know it is no different for Real Estate agents. Could Kobe have been a good Realtor or Loan Officer? With his work ethic, drive to be the best, his have-no-fear attitude, and so much more, there is no doubt in my mind that Kobe would have been the best Realtor, Loan Officer, Escrow Officer, Writer, Producer, Dad we have ever seen.

The market is tough, and with knowledge, studying, hard work, discipline, drive, and a little luck, we can all close out this year on a solid note.

Happy belated Birthday, Kobe Bean Bryant! You were exceptional, and your Mamba Mentality keeps me pushing daily to be the best. I hope you and Gigi can help us with interest rates and inventory. We miss you! Happy Mamba Day!

Interest rates had a great day yesterday! One day in a row! YAY! Today could be better, but the overall rates are better than in the past week.

• 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’s.
• Conventional Loans up to $726,200.00 are in the low to mid 6’s and low 7’s.
• High Balance Loans $726,201.00-$ 1,089,300.00 are in the 6’s and 7’s
• Jumbo loans above $1,089,300 are in the 6’s and 7’s
• Bank statement loans - They are available with 10% down again! 7’s and 8’s + depending on down and credit score.
• No income qualifier – 20% down with reserves! In the 9’s!
• 0 down loans are in the mid to high 6’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 7.99% with limited fees – But they get you where you need to go!
• 0 down California Dream for all Equity Share – Postponed until 2024!
• 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 around all 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 me at 661-714-6258 or email me at Mike@AugustaFinancial.com. Have a great day and a better tomorrow! Please call me when you have a client that needs to borrow!