We Help You Get A Home Loan

1st Continental Mortgage is HUD approved to originate FHA Loan Products. Why choose us? We cannot put enough emphasis on the benefit of doing business 1st Continental Mortgage. We have Loan Originators that specialize in one Product Type. For instance, this FHA Site is designed around the product some of our most talented Loan Originators specialize in. If you have challenged credit You NEED a specialist!

So, what is an FHA Loan? An FHA loan is nothing more than a Conventional Loan insured by HUD. The benefit to you, the home buyer, is the fact credit qualifying does not consider credit scores, but considers credit quality only. This coupled with showing the underwriter the right compensating factors, allows great flexibility in the underwriting decision and gets loans approved.

Compensating Factors? These are basically all the positive reasons an underwriter should approved your loan.

We say with confidence, and experience, that if the Loan Makes Sense and you are a FHA Qualified home buyer, there is no reason you can't get approved regardless of "Credit Score"!

How can we say this? We have closed many clients with 30 year fixed rate loans at 5.5% to 6.5% whose credit scores ranged from 500 to 550. The keys to success?

We put together loan packages that gave the underwriters every reason to approve the loans. This could not have been done had our clients not followed our instructions or had the loans not made sense.

In addition, down payment assistance and seller concessions are allowed. Utilizing both options, you can in fact do a "No Money Down" FHA mortgage loan. Just ask some of our clients!

Many lenders make up their own rules based on the types of loans they want to service. We work hard to ensure underwriting gives heavy weight to "HUD Guidelines".

These guidelines were designed to help those who have the ability to pay, but lacked the "picture" one might normally want in a conventional mortgage loan, to achieve an opportunity at home ownership at conventional mortgage interest rates.

Did you know:

According to Fannie Mae, 50% of sub-prime borrowers could have qualified for lower-cost, conventional Mortgage Loan financing, saving them each an average of $200,000 over the life of a 30-year loan.

Source: 08/13/2003 MMag 308_034

The novice mortgage loan officer fails to understand the importance of presentation and will "slap" a package together, submit it and call it a day.

Worse, are mortgage brokers who can't originate a FHA home loan and relegate YOU unnecessarily to SUB-PRIME status.

Just as bad, are LENDERS who "Quietly" cut clients off based on CREDIT SCORES.

SUB-PRIME lending is the TRUE exception to mortgage lending, NOT the rule.

If you've had credit issues in the past, or find yourself being quoted higher than market rates via the Conventional loan route, We encourage you to contact us at 1st Continental Mortgage!