Are We Losing the Human Side of Real Estate?

There’s something we’re missing in this business right now, and it's not leads, listings, or rates. It's a connection.

Too much of what we do has become texting and emailing, and not enough is face-to-face. That includes us as lenders, too. Sure, you can push a button and find a lender or Realtor on a street corner who’ll spit out a rate or show you a property in 30 seconds. But is that what you really want for your clients? Or are they looking for local knowledge and guidance?

Last night, I met with clients who were ready to cancel their escrow. Their biggest concern was that they needed to keep their payment under $5,000. We spent over two hours together, going through every scenario.We examined charts of historical interest rates and discussed what happened the last time the Fed cut rates (and how mortgage rates actually increased immediately before decreasing). We debated a 1/0 buydown, a 30-year fixed with a permanent buydown, and even the long-term impact if rates drop in the future, with no guarantees, of course.

They left that meeting understanding everything:

• That property taxes can only go up 2% a year.
• Insurance is unpredictable.
• That rents will continue to rise if they don’t buy. They understand that $3000 today is $4363 in 15 years, and $6346 in 30 years in their crappy 2-bedroom apartment, assuming they never buy!
• And that homeownership builds long-term appreciation and stability, especially over 10, 20, 30+ years.
• They said they can save $10,000 to $15,000 a year, but if prices increase by 4% annually, then they will be $13,000 to $18,000 deeper in the hole each year on a $700,000 price.

That’s what happens when you sit down together and go through the real numbers, not when you send a rate or a text.

We need to bring our clients back to the table (or at a minimum on Zoom). They need to see the whole picture, not just a monthly payment. The truth is, too many buyers are afraid of a $3,000, $4,000, $5,000, or $6,000 payment, but they don't see the other side of that equation.

Phone calls help. Zoom is even better. But in-person is the best.

So agents, get your clients connected with your lender in person. Let’s revive the face-to-face conversations that genuinely help people move forward with confidence. I am ready, willing, and able to meet; let’s do this!

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

Rates are slightly better today, but not as good as they were a week ago. We need a few more good days to get to where we were… and better!!!

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 $806,500 are in the high 5’s and low 6s.
• High-balance loans from $806,501 to $1,209,750 are also in the 6s.
• Jumbo loans above $1,209,750 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 $1,300,000.
• 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:**   

NONE

**Bad News for Condos***     

Nothing New!

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!