Augusta Financial Mortgage Rates, Fees & Info

Santa Clarita, CA

LEI: 549300XBOKNEE2CQJL92

Tax ID: 95-4588714

3.8 stars - out of 5 stars, based on 50 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Augusta Financial is a small mortgage company specializing in Refi, Home Purchase, and Cash Out Refi loans. Augusta Financial has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Los Angeles, Oxnard, Riverside, Bakersfield, and San Diego among others. Augusta Financial has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Augusta Financial is typically a high fee lendor.


Originations

2,490

Origination Dollar Volume (All Markets)

$1,143,540,000

Relative Rate

Augusta Financial 's average 30 year fixed rate mortgage of loans were 3.05%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.1%.

Relative Fees

Augusta Financial 's average total fees for a 30 year fixed rate mortgage are $6,265.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1,955 $913,995,000 $467,517 $6,054 3.01%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 286 $137,220,000 $479,790 $6,134 3.00%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 73 $26,235,000 $359,384 $5,126 3.04%
BAKERSFIELD, CA (FHA|USDA|VA) 67 $19,575,000 $292,164 $6,773 3.06%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 30 $12,000,000 $400,000 $5,050 3.09%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 13 $5,745,000 $441,923 $7,115 2.96%
SALINAS, CA (FHA|USDA|VA) 10 $5,190,000 $519,000 $4,992 2.65%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 8 $4,560,000 $570,000 $7,487 3.20%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 7 $4,005,000 $572,143 $7,849 3.00%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 9 $3,555,000 $395,000 $6,946 2.88%
Outside of Metro Areas 6 $2,500,000 $416,667 $4,658 3.02%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 6 $1,940,000 $323,333 $6,016 3.10%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 2 $1,530,000 $765,000 $19,222 2.88%
FRESNO, CA (FHA|USDA|VA) 5 $1,455,000 $291,000 $3,979 2.70%
VALLEJO, CA (FHA|USDA|VA) 3 $1,155,000 $385,000 $4,180 2.92%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 2 $770,000 $385,000 $4,280 2.94%
Clearlake, CA (FHA|USDA|VA) 2 $690,000 $345,000 $4,365 3.06%
VISALIA, CA (FHA|USDA|VA) 2 $560,000 $280,000 $4,013 2.88%
HANFORD-CORCORAN, CA (FHA|USDA|VA) 1 $245,000 $245,000 $3,359 2.50%
YUBA CITY, CA (FHA|USDA|VA) 1 $245,000 $245,000 $5,482 3.63%
STOCKTON, CA (FHA|USDA|VA) 1 $215,000 $215,000 $3,510 2.88%
Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $155,000 $155,000 $5,864 2.50%

Augusta Financial 's top markets include Los Angeles, Oxnard, Riverside, Bakersfield, and San Diego among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 2,257 $1,022,195,000 $452,900 $5,467 3.04%
VA 120 $65,450,000 $545,417 $9,494 2.64%
FHA 113 $55,895,000 $494,646 $14,190 2.83%

For the 2021 period, Augusta Financial 's most frequently originated loan type of loans were Conventional, with 2,257 originations. Their 2nd most popular type is VA, with 120 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 1,102 $453,010,000 $411,080 $4,517 2.89%
Home Purchase 748 $416,640,000 $557,005 $8,711 3.07%
Cash Out Refi 636 $272,240,000 $428,050 $5,583 3.13%
Home Improvement 4 $1,650,000 $412,500 $5,819 3.34%

For the 2021, Augusta Financial 's most frequently cited loan purpose of loans were Refi, with 1,102 originations. The 2nd most popular reason of loans were Home Purchase, with 748 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 2,238 $1,061,340,000 $474,236 $6,265 3.05%
15 Year 143 $44,705,000 $312,622 $4,169 2.50%
20 Year 73 $25,785,000 $353,219 $4,190 2.74%
10 Year 18 $3,910,000 $217,222 $4,038 2.42%
Other 18 $7,800,000 $433,333 $4,046 3.21%

For the 2021, Augusta Financial 's most frequently cited loan length of loans were 30 Year, with 2,238 originations. The 2nd most popular length of loans were 15 Year, with 143 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 1,953 $872,815,000 $446,910
$5k+ 283 $167,085,000 $590,406
$3k-4k 164 $70,680,000 $430,976
$2k-3k 75 $27,015,000 $360,200
$<1k 13 $5,115,000 $393,462

$6,265 of loans were Augusta Financial 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 1,953 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 1,254 $549,090,000 $437,871
3-4% 973 $487,555,000 $501,084
<2.5% 239 $94,435,000 $395,126
4-5% 17 $9,105,000 $535,588
5-6% 6 $3,110,000 $518,333
6-7% 1 $245,000 $245,000

During 2021, Augusta Financial 's average interest rate of loans were 3.05%, while their most frequently originated rate bucket of loans were 2.5-3%, with 1,254 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$400k-600k 1,014 $496,320,000 $489,467 $5,717 2.98%
$200k-400k 823 $253,635,000 $308,183 $4,837 2.97%
$600k-1MM 452 $324,710,000 $718,385 $8,980 3.12%
$100k-200k 158 $25,600,000 $162,025 $3,983 2.96%
$1MM+ 35 $42,575,000 $1,216,429 $16,506 3.29%
$100,000 or less 8 $700,000 $87,500 $3,632 3.03%

2021 saw Augusta Financial place emphasis on $400k-600k loans with 1,014 originations, totaling $496,320,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 773 $358,845,000 $464,224 $6,115 3.02%
$150k-250k 687 $367,485,000 $534,913 $6,532 3.01%
$75k-100k 416 $156,790,000 $376,899 $5,247 2.98%
$50k-75k 244 $74,060,000 $303,525 $5,256 2.95%
$250k+ 238 $141,430,000 $594,244 $6,984 3.10%
$50k or less 124 $40,950,000 $330,242 $5,352 2.86%

Augusta Financial lent most frequently to those with incomes in the $100k-150k range, with 773 originations. The second most popular income band? $150k-250k, with 687 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 484 $209,540,000 $432,934 $5,120 2.95%
30-36% 444 $202,940,000 $457,072 $5,659 3.01%
49% 124 $59,740,000 $481,774 $6,965 3.01%
43% 114 $57,060,000 $500,526 $6,855 3.10%
<20% 113 $39,865,000 $352,788 $4,669 2.89%
44% 111 $53,605,000 $482,928 $6,153 3.13%
42% 103 $49,165,000 $477,330 $5,673 3.06%
41% 102 $47,850,000 $469,118 $5,432 3.00%
38% 101 $44,955,000 $445,099 $5,450 3.08%
39% 97 $46,325,000 $477,577 $5,585 3.06%
45% 92 $42,600,000 $463,043 $6,670 3.01%
40% 91 $44,455,000 $488,516 $6,038 3.00%
48% 90 $45,230,000 $502,556 $6,388 3.06%
37% 76 $35,200,000 $463,158 $6,076 3.03%
47% 74 $36,450,000 $492,568 $7,688 3.06%
50-60% 74 $39,070,000 $527,973 $13,851 2.95%
46% 71 $29,945,000 $421,761 $5,513 3.10%
36% 65 $28,915,000 $444,846 $5,958 2.99%
>60% 63 $30,105,000 $477,857 $6,727 2.80%

Augusta Financial lent most frequently to those with DTI ratios of 20-30%, with 484 originations. The next most common DTI ratio? 30-36%, with 444 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,253 $565,925,000 $451,656 $5,684 3.00%
Not provided 1,098 $511,640,000 $465,974 $6,465 3.02%
Asian 77 $36,695,000 $476,558 $5,902 3.01%
Black 47 $21,785,000 $463,511 $6,472 3.05%
Native Hawaiian 5 $2,755,000 $551,000 $5,584 3.08%
Other Pacific Islander 3 $1,695,000 $565,000 $7,403 2.71%
Asian Indian 2 $1,500,000 $750,000 $9,089 3.19%
American Indian 3 $885,000 $295,000 $5,192 3.21%
Other Asian 1 $335,000 $335,000 $3,032 2.88%
Vietnamese 1 $325,000 $325,000 $6,469 2.88%

Approval Rates

Total approvals of all applications
97.02%

Augusta Financial has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
84.33%

Augusta Financial has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
2015.0 1 $515,000 $515,000
2330.0 1 $385,000 $385,000
2440.0 1 $395,000 $395,000
3938.0 1 $1,055,000 $1,055,000
4376.25 1 $455,000 $455,000
4830.0 1 $295,000 $295,000
5225.0 1 $335,000 $335,000
6666.0 1 $405,000 $405,000
NA 2,482 $1,139,700,000 $459,186

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
2,490 $1,143,540,000 $459,253

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 297 $85,885,000 $289,175 $4,569 2.90%
40-60% 675 $275,685,000 $408,422 $4,649 2.93%
60-80% 936 $466,140,000 $498,013 $5,895 3.08%
80-100% 539 $302,315,000 $560,881 $8,508 3.04%
Over 100% 17 $9,605,000 $565,000 $21,584 2.77%
Under 20% 26 $3,910,000 $150,385 $4,178 2.93%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Augusta Financial, Inc. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%