Mike’s Morning Mortgage Update – How Ice Cream can make you money!

Mike’s Morning Mortgage Update – How Ice Cream can make you money!

President | Loan Officer
Mike Meena
Published on May 9, 2023

Mike’s Morning Mortgage Update – How Ice Cream can make you money!

Now that the weather is better for the next few months, I wanted to promote that we still have the Augusta Financial Treat Suite. The treat suite holds all your favorite frozen treats like Bomb Pops, Ice Cream Sandwiches, Big Sticks, Strawberry Shortcake, 50/50 bars, and more!


You have to reserve the truck in advance, and there is no charge to take it out. The treats are your only fee, and you split that with us. The Bars run about $1.00 each, so if you give away 50 bars, you owe $25.00, and Augusta will pay $25.00. It’s that simple!


So where do you take this truck, and how does it bring you business? For starters, you take it to your client’s office, where they work with people, and you have them all come out for Ice Cream. You could swing by the hair salon, to your cousin’s office, and then to the car dealership where your friend just sold you a car. You put a route together 1-2 times a month and then continue that route, be consistent, and try to befriend the people on your route. Ensure they know who you are, and you will eventually get business.


Another way is to hit up your farm, have the truck show up for an hour or so in your community, and meet everyone who comes by for an Ice Cream. Have it there for a short time so it stays fresh, and then do it again a month or two later. Go to the kids or grandkid’s school and hand out ice cream to the kids and parents as they pick them up. Do that monthly and see what results you get there!


The Treat Suite is perfect for breaking into a business or community. We do not allow it to be used for an open house because it doesn’t bring you business. Yes, that seems cool or fun, but it does not bring in business, so we don’t allow it for open houses.


The most important part of the treat Suite is that you must be actively working with a Loan Officer at Augusta Financial to be able to use it. We also need to drive the vehicle for insurance purposes. Lastly, it doesn’t travel well, so let’s keep it from going more than 30 miles away!


Interest rates have struggled the past few days. We are looking for a nice turnaround, but today isn’t the day.

  • 12-day escrows if your buyer is pre-approved - Conventional / FHA / Jumbo / Bridge
  • Government Loans (FHA / VA) are in the low to mid 5’s.
  • Conventional Loans up to $726,200.00 are in the mid 5’s to low 6’s.
  • High Balance Loans $726,201.00-$ 1,089,300.00 are in the high 5’s and low 6’s
  • Jumbo loans above $1,089,300 are in the low to mid 6’s
  • 5/1, 7/1, 10/1 Arms are in the 5’s and 6’s.
  • Bank statement loans - They are available with 10% down again! 7’s + depending on down and credit score.
  • Stated income loans – 20% down with reserves! In the 8’s and 9’s!
  • 0 down loans are in the high 5’s to low 6’s- 620 credit score min right now! Low 6’s, for the most part, 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 6.99% 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 week 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!

President | Loan Officer
Mike Meena President | Loan Officer
Click to Call or Text:
(661) 714-6258

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