Augusta Financial Inc

About Augusta Financial Inc

Augusta Financial Inc is hard money lender based in Santa Clarita, CA. They provide funding in California. They provide loans for investments properties, fix-and-flip loans, and private commercial loans. Their loan guidelines are flexible, including loan amounts ranging from $50,000 to $10,000,000 with a maximum LTV of 65% and rates ranging between 8.5% and 14.99%. Their loan guidelines do not include a minimum FICO rating. They will consider different lending requests but generally focus on single family and multi-family units.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans

Property Types Covered: Single Family, Multi Family

Areas Served: CA

Licenses: NMLS ID #281276

Lending Guidelines for Augusta Financial Inc

Below are the general loan guidelines published on the Augusta Financial Inc website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by Augusta Financial Inc.

Loan Example 1

Jacqueline finds a house in Los Angeles, CA to rehab and re-sell. Since she does not have enough cash available to purchase the $160,000 house outright, she decides to take out a fix-and-flip loan from Augusta Financial Inc. The borrower will have to contribute 25% of the sales price in cash to closing based on a 75% loan to value set by the lender. This makes the principle note from Augusta Financial Inc $120,000. The note is interest-only, paid monthly, and is for 18 months at 9% interest with 3 origination points paid at the closing.

Accordingly, the borrower will need to contribute a $40,000 down payment in addition to paying a $3,600 origination fee. The monthly interest-only payments will then total $900 to the lender. If Jacqueline accomplishes her goal of a $192,000 sales price at the end of the loan term, she would make a total profit of $12,200 after repaying the principle on the note and deducting the cash she brought to closing, the origination points, and the total monthly interest payments.

Loan Example 2

Ronnie finds a townhouse in Los Angeles, CA to remodel and resell. Because he does not have enough cash to buy the property outright, he takes a fix and flip loan from Augusta Financial Inc with the following parameters:

$250,000 sales price
60% loan-to-value (LTV)
12 month term
9% rate of interest
3% origination fee

Ronnie plans to list the project when the note expires for $337,500. If he achieves this goal, the final numbers will be as follows:

$337,500 sales price
- $150,000 note principle (60% LTV)
- $100,000 cash paid at closing (40% on 60% LTV)
- $4,500 origination fee (3% of the $150,000 principle amount)
- $13,500 interest payments (12 months x 9% interest)
-----------------------
= $69,500 total profit (does not include taxes or renovation costs)

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