Augusta Financial Mortgage Interest Rate and Cost Review

Is Augusta Financial a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by Augusta Financial with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratesimilar to average (+0.00%)
Loan Related Closing Costshigher than average (+$253)
National Rate and Closing Cost Rating(3.5)
Websitehttps://augustafinancial.com

On average, Augusta Financial’s interest rates were similar to those of other lenders (+0.00%) for a comparable set of borrowers. Its average total loan related closing cost was higher than those of other lenders, with a difference of +$253. Overall, combining interest rates and closing costs we estimate that Augusta Financial tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3.5 out of 5.0 stars.

Augusta Financial’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track Augusta Financial was most active in:

  1. Los Angeles, CA
  2. Bakersfield, CA
  3. San Diego, CA
  4. San Francisco, CA
  5. San Jose, CA

You can click through to check out Augusta Financial’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

Augusta Financial’s Rates by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Augusta Financial originated Conforming, FHA, Jumbo and VA mortgages for new home purchases and refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

Purchase/Refinance:
New Purchase MortgagesConformingFHAJumboVA
Interest Rate Difference+0.05%-0.09%+0.07%-0.01%
Loan Related Closing Cost Difference+$398-$38+$115+$566
Cost Adjusted Rate Difference+0.07%-0.09%+0.07%+0.01%
Star Rating(3.0)(4.0)(3.0)(3.5)
Refinance MortgagesConformingFHAJumboVA
Interest Rate Difference+0.00%-0.05%+0.05%-0.00%
Loan Related Closing Cost Difference+$154+$925+$144-$67
Cost Adjusted Rate Difference+0.01%-0.02%+0.05%-0.01%
Star Rating(3.5)(3.5)(3.0)(3.5)

As a summary, Augusta Financial is cheap for FHA purchase mortgages. It is similar to other lenders for VA purchase mortgages. It is more expensive than other lenders for Conforming and Jumbo purchase mortgages. For refinancing, Augusta Financial is similar to other lenders for Conforming, FHA and VA mortgage refinance. It is more expensive than other lenders for Jumbo mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.

Other information about Augusta Financial:

Registered name: Augusta Financial Inc
Registered city and state: SANTA CLARITA, CA, 91381
Regulator: United States Department of Housing and Urban Development (HUD)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Augusta Financial’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 commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.