April 7, 2022

I hope you are having a great week and I hope that the sun is not too hot this week!

I was speaking with an agent yesterday and he said his client was going to shop around because our rates were higher than she expected. At this point they are higher than everyone expected, and I explained to the agent that she is free to go anywhere, to get a loan, but I know we are competitive when it comes to rates. He is a newer agent and he asked, other than interest rates, what is the reason they should use you? Great question and here is the answer below:
We are trusted and very well respected by agents throughout the area. Agents know when they have a pre-approval letter from us that the buyer was fully pre-approved, and that they will close.
We are available 7 days a week day and night and we are able to answer the important questions when a client needs an answer.
We work proactively and close on time, or early if needed.
Accountability is a big deal and we know that our reputation is on every loan we take in. If we make a mistake then bad news travels twice as fast as good news. So we don't make mistakes!
My team does the most business in the area and we are trusted because we work hard, we are creative, we have special programs and we care about our clients!
Teamwork! If you are not a top agent and you are struggling to get offers accepted, we will give you and your client much better odds to get an acceptance.
I could then go into why you don't use our competition, but that is too easy and I hate to bash others. LOL! I have a client that was approved with a big bank and put in nine offers and never got an acceptance. Their agent had them finally switch to us and the first offer was accepted and we close in a couple of weeks! Maybe that is luck, or maybe our reputation helped? If you feel that your lender is holding you back from acceptance, then give us a try!

Interest rates have been crappy all week! LOL! Hammered hard on Tuesday, they took a breather yesterday and they are up slightly again today! I guess higher rates are better than a lockdown and another two years of wearing a mask, or are they?
30-year Government Loans (FHA / VA) are in the low to mid 4's
Conventional Loans up to $647,200.00 - High 4's low 5's
High Balance Loans $647,201.00-$ 970,800.00 are in the high 4's to low 5's +
Jumbo loans above $970,801 are in the high 4's +. We can mid 5's with as little as 10% down. We can do 1-year findings on these too!
5/1, 7/1, 10/1 Arms are in the low to high 3's for over $647,201. Under that, don't bother right now!
Bank statement loans - They are available with 10% down again! 5's+ depending on down and credit score.
Stated income loans - I have one bank with 30% down, but everything else has to be perfect! Interest rates are in the high 4's.
0 down loans are in the 4's - 620 credit score min right now! Mid 3's for the most part up to $670,000.00 Price.
0 down Jumbo to $975,000.00 - 680 credit score - call for a quote
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 5.49 - 6.49% with limited fees - But they get you where you need to go!
Interest rates are subject to change without notice! Above are LA County Loan Limits.

I will be around all weekend if you have any questions or someone is interested in buying a property! My cell is (661) 714-6258, and my office line is (661) 260-2970 xt. 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!