An In-depth Analysis of the Lender First Continental Mortgage, Ltd.
First Continental Mortgage, Ltd., or simply First Continental, is an established mortgage company. The organization is at the forefront of its field because of its extensive history in the industry and its good reputation for customer service.
This in-depth First Continental Mortgage, Ltd is meant to tell readers everything they need to know about the company, from the benefits and drawbacks to the products and services offered and the level of satisfaction experienced by regular customers.
This evaluation of First Continental will help readers determine if this mortgage lender is a good fit for their specific circumstances.
|Loan Amount||It depends on the loan type and state|
|Loan Terms(Years)||3 to 30 years|
|Credit Score Range||580 and above|
|Prepayment Fee||It depends on the loan type|
|No Origination Fee||It depends on the loan type|
|Mortgage Programs||Conventional Mortgage Loans, Jumbo Mortgage Loans, FHA, VA, USDA Loans, etc.|
|Employment Statuses Considered||Yes|
|Intended Use||Home purchase and refinance|
|Joint Loan Applications Accepted||N/A|
|Property Type||Single-family home, condo, multi-family home, manufactured home, etc.|
|Verification Documents Required||Personal tax return, pay stubs, bank statements, or asset account statements|
How Much Money Can You Borrow from First Continental Mortgage, Ltd.?
First Continental Mortgage, Ltd. bases loan amounts on several criteria, including but not limited to, the borrower’s income, credit history, debt-to-income ratio, and the type of mortgage loan being sought.
No specific sum can be determined without first learning more about the borrower’s unique circumstances and goals with the loan. If you want to know how much of a loan you can get from First Continental Mortgage, Ltd., you should talk to a loan officer about your situation.
First Continental Mortgage, Ltd. Pros & Cons
- Loan options offered by First Continental Mortgage, Ltd. are flexible enough to accommodate a wide variety of homebuyers.
- First Continental Mortgage, Ltd. does not reveal its closing costs and fees on its website.
- To find out what kinds of loans and other services they offer, you’ll need to talk to a loan officer.
- Regrettably, it’s only available in eight states right now.
What is the Longest Loan Term You May Obtain from First Continental Mortgage, Ltd.?
First Continental Mortgage, Ltd.’s maximum loan term is conditional on the specific mortgage loan program selected by the borrower. To give just one example, the longest loan term for a conventional fixed-rate mortgage is normally 30 years, while loan terms for an adjustable-rate mortgage (ARM) are often 3-10 years.
First Continental Mortgage, Ltd. may also provide additional loan programs with varying maturity dates. It is preferable to speak directly with First Continental Mortgage, Ltd. to discuss your unique financial status and loan requirements in order to find out the longest loan term that is available to you.
What Mortgage Rates Does First Continental Mortgage, Ltd. Offer?
Current First Continental Mortgage, Ltd. interest rates are not available on the website. This prevents us from knowing whether or not their pricing is fair.
When a corporation behaves in a way that is unclear to its customers, customers should proceed with care. Be sure you fully comprehend the mortgage rate and closing charges before signing any paperwork from First Continental Mortgage, Ltd. Furthermore, to get the best loan conditions, you should get quotes from multiple institutions.
What is the Estimated Funding Time?
It’s possible that the procedures for getting a loan would vary from one state to another. The closing date and the day on which the financing is finalized typically fall on the same day. The money can also be obtained ahead of schedule if that is preferred. After the buyer has signed all required paperwork, the loan closing can sometimes be finalized on the same day.
Contacting First Continental Mortgage, Ltd.’s loan department will provide you with an accurate finance quotation.
Do They Charge Mortgage Origination Fees?
Mortgage origination fees are commonly imposed by lenders to cover the costs of processing and originating a mortgage loan, so it’s possible that First Continental Mortgage, Ltd. charges these fees as well. Loan origination fees can range from one percent to five percent of the total borrowed amount, depending on the financial institution and the type of loan being sought.
To find out if First Continental Mortgage, Ltd. has origination fees and, if so, how much they are, you should work with a loan officer to talk about your specific loan needs and the fees that go along with them.
Does First Continental Mortgage, Ltd. Charge Prepayment Fees?
Mortgage loans, like most other loans, often have prepayment penalties. The quantity and period of these expenses, however, will vary greatly from one case to the next.
First Continental Mortgage, Ltd. does not have a prepayment penalty on FHA and VA loans. You may ask First Continental Mortgage, Ltd. about prepayment fees and other details by calling them directly.
What Mortgage Programs are Available?
There is a large selection of mortgage options available through First Continental Mortgage, Ltd. Here are some of them:
This type of mortgage is available for a wide range of residential properties. A mortgage insurance policy must be obtained if the borrower’s down payment is less than 20% of the total loan amount. The monthly fee for this loan’s mortgage insurance is cheaper than that for an FHA loan. Individuals with solid credit and a significant down payment should investigate traditional loans.
FHA loan limits are capped at different levels at the county and state levels and are typically far lower than conventional loan limits. Borrowers whose credit is less than stellar or who lack the finances for a sizable down payment may find the Federal Housing Administration (FHA) loan to be an excellent alternative.
Because of the support of the Veterans Administration, this loan is available to veterans. Veterans can get 100% financing for their home, including closing costs, with no down payment required.
The VA requires an upfront financing fee (which can be financed into the loan) from borrowers, the amount of which varies based on whether or not this is the borrower’s first VA loan. This service is excellent for veterans who are trying to find the best affordable mortgage option available to them.
What Property Usage Types Does First Continental Mortgage, Ltd. Allow?
The types of property use that First Continental Mortgage, Ltd. permits for its mortgage loans may include principal residences, second homes, and investment properties.
However, the lender might place limitations on the kind of property that can be used as security for a mortgage loan, such as those that are only allowed to be used as collateral if they are in specified locations or have certain features.
Contacting First Continental Mortgage, Ltd. or working with a loan officer to discuss your specific position and loan needs is the best way to find out if the lender will provide a mortgage loan for the property you’re interested in.
How Do People Rate the Customer Service and User Experience?
For the time being, First Continental Mortgage, Ltd. does not have BBB accreditation. The certification seal from the Better Business Bureau is still a symbol of trustworthiness for many customers.
Additionally, First Continental Mortgage, Ltd. reviews have been all over the place. Therefore, it is difficult to draw firm judgments about the company from customer feedback. If you’re having trouble deciding whether or not to work with First Continental Mortgage, Ltd., Fintopi can help.
Contacts of First Continental Mortgage, Ltd.
Just give First Continental Mortgage, Ltd. a call if there’s anything more you want to know about the services they provide. You may find all the contact details you need for them on their webpage.
You can call First Continental Mortgage, Ltd. at 832-613-9300 if you need to get in touch with someone there. Also, if you need money quickly, you can use their website to apply for a loan right away.
Availability of First Continental Mortgage, Ltd.
First Continental Mortgage, Ltd. is a licensed mortgage lender with over 30 years of experience. First Continental Mortgage, Ltd. is open from 8 AM to 5 PM on weekdays. During the specified business hours, customers can reach the company via the provided phone number. Like many other businesses, First Continental Mortgage, Ltd. doesn’t operate on the weekends.
First Continental Mortgage, Ltd. Summary
The review of First Continental Mortgage, Ltd. came to the following conclusions:
- First Continental Mortgage, Ltd.’s lending plans can be modified to meet the needs of each individual borrower.
- The Better Business Bureau has not accredited First Continental Mortgage, Ltd.
- There is no information available on the interest rate or closing costs that will be imposed by First Continental Mortgage, Ltd.
- The list of service areas for First Continental Mortgage, Ltd. currently only includes eight U.S. states.
If you don’t feel comfortable working with First Continental Mortgage, Ltd., please let us know and we’ll try our best to find you a lender who is a better fit.
FAQs About Loan Company
1. Who owns the First Continental Mortgage?
Clifton A. Crabtree established First Continental Mortgage, Ltd. in 1992 and there were only two workers back then.
2. Where is the First Continental Mortgage, Ltd. headquarters?
The headquarters of First Continental Mortgage, Ltd. is located at 6002 Rogerdale Road, Suite 500/565 in Houston, Texas.
3. Is First Continental Mortgage, Ltd. a good company?
Since First Continental Mortgage, Ltd. holds the necessary licenses to conduct business, they are a good company.