Why Your Clients Deserve a Lender Who Closes on Time

In real estate, timing is everything. A late closing doesn’t just frustrate buyers and sellers; it damages relationships, reputations, and trust. That's why I've built Augusta Financial on one principle that has never changed in 30 years: loans must close on time, without surprises.

From a Bedroom to 15,000+ Closings

Nearly three decades ago, I started Augusta Financial with two partners out of a bedroom in my house on Shelburne Drive. Before that, I was a loan officer for five years, and let me tell you, it wasn’t all smooth sailing.

I went through every phase: struggling to find my footing, questioning if I should switch careers, getting that first big break, and then finally realizing what it really takes to succeed in this business. It's simple:

• Don’t overpromise.
• Work relentlessly behind the scenes.
• Get creative when the deal seems impossible.
• Don’t lie!
• And most importantly, make sure the client walks away happy.

Thirty years later, with more than 15,000 loans closed, those lessons still guide everything I do.

Why Agents Trust Us

One of the biggest compliments I get is when agents tell me, "You're not like other lenders, you're accessible, you're clear, and you deliver."

Quick story: An agent I've worked with for years had a new buyer’s agent join her team. This young agent had only heard of my name and reputation, and honestly, she was nervous about calling me. But when she finally did, her reaction afterward was: "He’s not scary, he was actually helpful, answered all my questions, and told me exactly what I needed to do."

That's the job. It’s not about intimidation or ego. It’s about supporting agents and clients so everyone feels confident in the process.

How We Make It Happen

Here’s what sets us apart:

• Experience You Can Count On
• With 35 years in lending and a team that has supported me for over 24 years, we’ve seen everything. We don’t just process loans, we solve problems.
• A Commitment to Closing On Time
• My team and I work diligently every day to anticipate issues, find solutions, and ensure that deadlines are met. Delays and last-minute surprises aren’t an option.
• Competitive Rates, Expert Guidance
• Experience doesn't cost more. We're as competitive as anyone, but we provide something far more valuable: certainty and peace of mind for you and your clients.

Why This Matters for You as an Agent

Every deal you bring us is a reflection of your professionalism. When your clients work with us, they:

• Get honest timelines.
• Avoid costly missteps.
• Close with confidence.

And you walk away looking like the hero who introduced them to the right lender.

At the end of the day, my philosophy hasn’t changed since Shelburne Drive: help people, work hard, and make a difference. That’s how we’ve built lasting partnerships with agents across the region, and that’s why your clients deserve nothing but the best.

Final Word

Your reputation depends on who you trust with your clients’ financing. If you want a partner who takes every client seriously, works relentlessly, and delivers closings on time, that's what my team and I do, every single day.

Let’s help your clients win together.

Please let me know if you have any questions or if a client needs my guidance. I’m just a call, text, or email away.

📞 Direct Line: 661-291-2222 – Text OK

📞 Cell: 661-714-6258 – Text OK

📞 Office: 661-260-2970 ext. 2222 – Text OK

📧 Email: Mike@AugustaFinancial.com

But wait, there’s more…

Interest Rates

September has started well for interest rates, but poorly for the job market. Jobs data came in lower than expected today, and rates have taken a slight plunge. We have some big economic news coming out next week, including non-farm payrolls and CPI, so hold on to your seat and let’s see where this roller coaster will take us.

Loan Programs

• We do loans on Non-warrantable condos!
• We offer 12-day escrows for pre-approved buyers, including conventional FHA/Jumbo/Bridge loans.
• We provide loans in all 50 states, so call me with anything you need.
• Government loans (FHA/VA/USDA) are in the high 5’s and low 6’s.
• Conventional loans up to $806,500 are in the low to mid 6s.
• High-balance loans from $806,501 to $1,209,750 are also in the 6’s and 7’s.
• Jumbo loans above $1,209,750 are in the 6’s.
• Bank statement loans are available with 10% down again, with larger down payments in the 6’s++.
• Profit and Loss Statement loans require 20% down - no bank statements needed, only a profit and loss statement!
• 0 down loans are available in the high 6s, with a minimum credit score of 620, up to $1,300,000.
• Private Money lenders offer Hard Money Loans with 35% down.
• No-Ratio Loans require a 30% down payment.
• DSCR (Debt Service Coverage Ratio) loans are available with as little as 15% down.
• Bridge Loans typically have an interest rate of 7.99% with limited fees, helping you get where you need to go!
• 3/2/1 Buydowns, 2/1 Buydowns, and 1/0 Buydowns are available at great starting rates!

Please note that interest rates are subject to change without notice, and the information above reflects LA County Loan Limits.

**Good News for Condos:**   

Vista Del Canon – No Longer Naughty!

Princessa Estates – We have been informed that this is no longer considered a naughty condo, so we will categorize it as ‘buyer beware’.

Valley Di Oro – We have been informed that this is no longer considered a naughty condo, so we will categorize it as ‘buyer beware’.

**Bad News for Condos***     

Seco Villas – Insurance Deductible is too high!

Rainbow Sierra Terrace Owners – 19826 Sandpiper Place – Insurance coverage, Excess deductible

American Beauty Village West – 26864 Claudette – Critical Repairs or Deferred Maintenance Issues. Also, insurance is an issue.

Arbor Park – Critical repairs or Deferred Maintenance Issues

Old Orchard Condos 23515 Lyons Ave – Unfunded repairs

CONDO HELP!!!

If you have a listing or a buyer interested in a specific condo and are unsure whether it is warrantable or Non-warrantable, please call me, and we can look up Fannie’s list in real-time. I have already done that on three condos today, and my list was accurate on all 3. We don’t know when something has changed, and it would be impossible to track everything on a day-by-day basis, but we don’t mind looking up a few items each day.

The full state of California’s naughty list has been added to: MikeMeena.com! See the link below:

https://mikemeena.com/non-warrantable-condos/

Let me know if you hear anything new about condos or townhouses.

I am available every day if you need anything.

📞 Direct Line: 661-291-2222 – Text OK

📞 Cell: 661-714-6258 – Text OK

📞 Office: 661-260-2970 ext. 2222 – Text OK

📧 Email: Mike@AugustaFinancial.com

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