Interim Occupancy – Just in time for Christmas!

I hope you’re having a wonderful holiday season so far. This will be a one-blog week for us, as we have this little thing called Christmas on Thursday!

I've always been a bit bah humbug this time of year, but I'll admit, I start to brighten up once Christmas is behind us and I can see the business light at the end of the tunnel. I was talking with an agent just this morning, and she said she closed three transactions this month and still has listings sitting. Yup… it's officially the holiday season. That said, I genuinely believe we’ll start to see the market pick up again in January. For now, I’m counting the days.

We had a closing we funded last Thursday and were supposed to record on Friday, but it didn’t happen because we were missing the UCC filing for the solar. Escrow thought they could get it done in a week (it usually takes a couple), so plenty of excuses were flying around. The buyer was really hoping to be in the home for the holidays, though, and after a few discussions, the agents agreed to move forward with an interim occupancy agreement.

The buyer moved in over the weekend, and I’m happy to say we are recording today now that the UCC was cleared late yesterday. The scary part was that the buyer was genuinely worried she wouldn’t be in by Christmas - and both her agent and I were highly motivated to make sure that didn’t happen. If the loan hadn’t been recorded by tomorrow, we would have pulled funding, extended the rate lock, and closed once the UCC came in.

But here’s what really matters: this client is in her new home with her kids for Christmas. And that makes all the extra effort worth it.

A Christmas Thank You

To close out the year, here’s a little Christmas poem from me, to you.

To the agents who hustle, who grind, and who care,

Through holidays, busy and closings with flair

Thank you for trusting me, deal after deal,

For teamwork, for patience, for keeping it real.

May your closings be smooth and your pipelines be strong,

May January come quickly (it won’t take too long).

Merry Christmas to you and your families, too.

Here’s to a bright New Year, and great business with you!

Please let me know if you have any questions or if you or any of your clients, friends, or family members need 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

Interest rates have been up a little one day and down a little the next. No new news, but I am still hopeful that next year will be a better rate year than 2025!

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 5s.
• Conventional loans up to $832,750 are in the high 5’s and low 6s.
• High-balance loans from $832,751 to $1,249,125 are also in the 6s.
• Jumbo loans above $1,249,125 are in the 6’s.
• ARMS in the 5’s and some 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 $1,325,000.
• 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:**   

Nothing New

**Bad News for Condos***     

Princessa Estates – Balcony Issues – HOA Dues raised to $540.00 monthly!

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. We don’t know when something has changed, and it would be impossible to track everything day by day, 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!