Is Augusta Financial Inc. An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Augusta Financial Inc. with other lenders for mortgages with similar borrower characteristics:

Interest Rate: similar to average (-0.04%)
Loan Related Closing Costs: similar to average (-$74)
Assessment: this lender tends to be a average cost lender.

This scoreboard is based on data reported to FFIEC. In the data, Augusta Financial Inc. originated 862 mortgages, a national market share of 0.0%. It was primarily active in CA, with a 0.1% market share.

On average, Augusta Financial Inc.’s interest rates were similar to those of comparable mortgages at other lenders (-0.04%).1The comparable mortgages control for Augusta Financial Inc.’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $9723, which was similar to those of comparable mortgages at $9796, with a difference of -$74. Overall, we estimate that Augusta Financial Inc. tends to be an average cost lender, with a cost-adjusted-rate difference of -0.04% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with Augusta Financial Inc..

Augusta Financial Inc. originated VA mortgages for new home purchases. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:

Home Purchase Mortgages from Augusta Financial Inc. compared to other lenders

VA
Interest Rate Difference -0.04%
Loan related Closing Cost Difference -$74
Cost Adjusted Rate Difference -0.04%

Based on the table above, Augusta Financial Inc. is similar to other lenders for VA purchase mortgages.

Other information about Augusta Financial Inc.:

Regulator: United States Department of Housing and Urban Development (HUD) 
Registered city and state: SANTA CLARITA, CA, 91381
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Footnotes   [ + ]

1. The comparable mortgages control for Augusta Financial Inc.’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages.
2. Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate.