I Won’t Allow a Deal to go Sideways!

I am always working on something.
God blessed me with good ideas, a strong mind, a ridiculous work ethic, and the ability to make people feel comfortable. I love engaging with clients, agents, and everyone involved in the transaction.
But if I had to pick my best quality, it is this:
I care.
I care about the client.
I care about the agent.
I care about my team.
I care about my reputation.
I care about doing the right thing when things get hard.
My team will close 250-300 loans this year, and we will finish as the #1 or #2 lender in closed loan units in Los Angeles County.
Are we perfect? No.
But we try to be. We fight for files. We solve problems. We communicate. And when something unexpected happens, we do not run from it.
Yesterday, I had one of those files.
The short version is this: we had a buyer whose 2025 1099 showed about $65,000 in Lyft income. Everything appeared to be in line. Then the lender asked for year-to-date income verification, and we discovered that Lyft reports the full fare amount on the 1099, but the year-to-date income statement only shows what the driver actually takes home.
That created a major issue late in the process.
Not fun. Not ideal. Not what anyone wanted to hear.
But here is the difference.
I spoke with the buyers. I spoke with the agents. We are working through it. The buyers are still going to get the house, and we are making sure they are not left in a worse position because of the curveball. They are coming in with more down, and I will carry a second for them after we close to reimburse the extra money they put down.
A lot of lenders would have said, "Sorry, bring in more money or you are not closing.”
Some would have simply killed the deal and moved on to the next one.
That is not how I work.
When I am in a file, I am in the file.
I have your back. I have your client’s back. I care about the listing agent, the buyer’s agent, the buyer, the seller, and everyone else who is depending on the loan to close.
In this case, the agents are people I have worked with for years. The buyers are great people. The sellers are buying another home. A delay on our file affects more than just one transaction, and I take that seriously.
That is why lender choice matters.
You never know when a file is going to get tough. You never know when something unexpected will come up. And when that happens, you better hope your client is with someone who cares enough, knows enough, and works hard enough to find a way through it.
As agents, you work hard to get your clients into escrow. You protect them. You guide them. You negotiate for them.
One of the best ways to truly have your client’s back is to make sure they are working with a lender who will have everyone’s back when it matters most.
Preferably, that lender is me.
But at the very least, make sure it is someone local, experienced, accountable, and willing to fight for the file when things do not go perfectly.
Because easy files are easy.
The tough files show you who people really are. 

Interest Rates

Last week was solid, and rates went down each day. This week is another story. Yesterday rates went up slightly, and today they are going up a little more. Today's data was a little mixed, but overall it was not terrible for mortgage rates.
Home price reports came in stronger than expected. Case-Shiller showed prices up 1.1% year-over-year, and FHFA showed prices up 2.0% year-over-year. That tells us housing values are still holding up, even with higher rates and affordability challenges.
The better news for rates is that consumer confidence came in weaker than expected at 91.2 vs. 94.7 expected. When consumers start feeling less confident, it can point to a slower economy, and that usually helps bonds and mortgage rates.
Job openings were slightly higher than expected, but not dramatically. The labor market is still hanging in there, which is why rates have not dropped more aggressively yet.

What this means for buyers and agents:

The real estate market is not crashing, values are still holding, and if the economy continues to slow, we could see some improvement in rates. Buyers who are sitting on the sidelines waiting for a huge price drop may be disappointed, because the data still shows home prices are resilient.
The opportunity right now is to buy before rates potentially improve and before more buyers come back into the market. If rates drop even a little, affordability improves, but competition may increase quickly.
At the end of the day, today's numbers support the same message: real estate is still a long-term wealth-building tool, and buyers should be looking at the full picture; payment, tax benefits, principal reduction, appreciation, and the ability to refinance later if rates improve. 

Loan Programs Snapshot

• Government loans (FHA/VA/USDA): in the 5s –
• Conventional (≤ $832,750): low 6s
• High-balance: mid to high 6s
• Jumbo: Mid 6s
• Bridge Loans  7.75-7.99

Additional options:

• Bank statement loans (10% down+)
• P&L loans (20% down, no bank statements)
• 0% down options (620+ score)
• DSCR loans (15% down)
• Buydowns Available (3/2/1, 2/1, 1/0)
• Private Money loans – Hard Money  
• Construction Loans
• 203K loans
• Commercial Loans
• Fix and Flip Loans  

Rates subject to change without notice. 

Condo Update

Good news:

Bad news:

• Palisades -  25730 Armstrong Stevenson Ranch CA 91381 – Critical repairs   – Deferred maintenance  – reserves  –  Insurance!  Yes, they hit just about every bad thing you can!  LOL! 

We love your Non-Warrantable Condo loans!!
Need help checking a condo? Call me, and we can look it up in real time.
Also:
Full California "naughty list" available here:
https://mikemeena.com/non-warrantable-condos/ 

Let's work together and make your life easier!
If you or your clients, friends, or family need guidance, I'm here.

📞 661-291-2222 (Direct)

📞 661-714-6258 (Cell)

📞 661-260-2970 ext. 2222 (Office)

📧 Mike@AugustaFinancial.com

Sincerely,