Augusta Mortgage Company Review: A Detailed Analysis Of The Lender

Is Augusta Mortgage Company legit? Throughout this Augusta Mortgage Company review, we will provide an answer to that question.

Augusta Mortgage Company can possibly assist you if you are having problems securing a loan elsewhere due to your credit history. There are financing options for customers with credit scores below 620.

You will be able to acquire the knowledge you require to make an informed decision on whether or not you should conduct business with the Augusta Mortgage Company if you read our review of the company.

How Much Money Can You Borrow from Augusta Mortgage Company

Different criteria will determine how much of a loan you may get from Augusta Mortgage Company. In addition, the purpose of your loan, how you intend to put the property to use, and the type of loan you opt for all influence the maximum percentage of value you can borrow. But the minimum loan amount you can borrow is $35,000

To find out how much of a loan Augusta Mortgage Company can provide depending on your needs, fill out their online application. The application form is provided on their website.

Augusta Mortgage Company Pros & Cons

Pros

• Augusta Mortgage Company is transparent with its rates and costs
• Augusta Mortgage Company provides a range of loan programs
• Plus, they have a  toll-free customer hotline

Cons

• Only operates in 2 U.S states

What is the Longest Loan Term You May Obtain from Augusta Mortgage Company?

Numerous lending choices with adaptable terms are available from Augusta Mortgage Company. Here, you can choose between loans with a fixed interest rate and loans with an adjustable interest rate.

The typical mortgage duration is between 10 and 30 years, however, adjustable-rate mortgages can be anywhere from 3 to 10 years. If you work with Augusta Mortgage Company, you will be able to get a loan with the most favorable terms possible, modified specifically to meet your needs.

What Mortgage Rates Does Augusta Mortgage Company Offer?

Augusta Mortgage Company interest rates and Augusta Mortgage Company closing costs are disclosed on its website. You can also request a free estimate on their website. You will only need to fill out a simple form detailing your loan requirements (including loan amount, purpose, credit score, property type, etc.).

For a loan amount of $50,000, you will have an interest rate of 5.7 to 7.375%, and an APR of 6.4% to 8.3%. For these conditions, you will pay an average of $3,200 closing fees for a USDA 30-year fixed-rate loan.

What is the Estimated Funding Time?

Procedures for funding loans might vary from state to state. In most cases, the closing date and the financing date will coincide. It’s possible that this may come a day or early. Loan closings can sometimes take place on the same day the buyer signs their loan paperwork.

Get in contact with someone at Augusta Mortgage Company who works in the lending department if you wanna know the exact funding time.

Do They Charge Mortgage Origination Fees?

Origination fees for mortgages are customary and expected from all lenders. The percentage ranges from 1% to 5% of the loan principal.

In Augusta Mortgage Company, there’s no cost at all for completing their online application. However, after your loan has been accepted, you will have the option of paying the application fee to cover the cost of the appraisal ($450 to $600) and final credit report, thereby locking in an interest rate and initiating the processing of your request.

Does Augusta Mortgage Company Charge Prepayment Fees?

Mortgage loans, like most loans, typically come with prepayment penalties. Depending on the specifics of the loan, the total amount and length of time spent paying these fees can fluctuate widely.

However, Augusta Mortgage Company does not charge any prepayment penalties on their loan programs. There will be no additional costs incurred if you decide to pay off your mortgage early at any point.

What Mortgage Programs Are Available?

Augusta Mortgage Company has the expertise, versatility, products, and services you require at competitive rates and terms, whether you are purchasing a new home or refinancing an existing mortgage.

A few of the options you may have while applying for a mortgage loan with Augusta Mortgage Company are:

FHA Loans: An FHA loan only requires a 3.5% down payment, while a conventional loan typically requires 10% or more. An FHA loan could be a great alternative if you’re a first-time buyer or if you just don’t have a sizable down payment saved up.

VA Loans: Veterans are entitled to apply for VA Loans, which are mortgages with interest rates that are lower than the market average as a way of expressing gratitude for their service. No down payment or mortgage insurance is necessary for a VA loan, and borrowers with credit scores as low as 580 can qualify.

USDA Loans: This program is designed to assist those with low or moderate incomes who reside in rural areas and who are looking to purchase a home that satisfies basic needs. If you live in an eligible rural area, this program will help you build, renovate, enhance, or relocate your primary residence.

What Property Usage Types Does Augusta Mortgage Company Allow?

Augusta Mortgage Company offers mortgage loans for house acquisitions and refinances. This home is versatile enough to be used either as a permanent dwelling or a seasonal getaway. The types of properties Augusta Mortgage Company can finance range from traditional houses to trailer homes.

Augusta Mortgage Company additionally provides financing for investment properties for clients who are interested in real estate investing.

How Do People Rate the Customer Service and User Experience?

Augusta Mortgage Company is a small mortgage firm that focuses on providing loans. They’ve been around for 47 years as a company.

Unfortunately, the Better Business Bureau has not yet accredited Augusta Mortgage Company for accreditation. For many consumers, the BBB seal of approval still denotes a company’s superior reliability. Moreover, the reactions from customers have been all over the map. As a result, it’s hard to draw concrete judgments about the organization based on user reviews.

Fintopi is available to assist you if you are unsure whether Augusta Mortgage Company is a trustworthy business.

Contacts of Augusta Mortgage Company

Augusta Mortgage Company can be reached via several channels. Among these is filling out an online form with personal information like name and email address. In the event that you need to give them a call, the Augusta Mortgage Company phone number is provided for you on their website as well.

Augusta Mortgage Company email is also offered for those who would like to contact them via electronic mail. Before completing a loan application, a pre-qualification form also needs to be filled out.

Availability of Augusta Mortgage Company

The Augusta Mortgage Company is a Georgia-based licensed mortgage lender. They also provide lending services in South Carolina.  The company is open Monday through Friday from 8:30 am to 5 pm. The weekend is a closed-door day for the company. Also, their toll-free customer support number is available during normal business hours.

Augusta Mortgage Company Summary

The following are the conclusions of this Augusta Mortgage Company Review:

• Augusta Mortgage Company does not hide the costs associated with their services from their customers.

• All of Augusta Mortgage Company’s online mortgage applications are free of charge and contain no hidden fees.

• Augusta Mortgage also has no prepayment fees on any of its loan programs.

• However, Augusta Mortgage Company’s services are limited to just two U.S. states at this time.

If you do not feel that Augusta Mortgage Company meets your mortgage requirements, please let us know so that we can direct you to a better option.

FAQs About Loan Company

1. Where is Augusta Mortgage Company?

The main office of August Mortgage Company is located at 243 Davis Rd, Augusta, GA 39007.

2. How is Augusta Mortgage Company rated?

Client reviews for Augusta Mortgage Company are mixed, and the company is not Better Business Bureau-accredited.

3. Who owns Augusta Mortgage Company?

There’s no clear information about who is the owner of Augusta Mortgage Company but its current president is Kevin McDougal.