Select Page

Continental Home Loans, Inc. is a large company that offers many kinds of financial products, including home loans. Their loan options include fixed rates, adjustable rates, jumbo mortgages, FHA loans, reverse mortgage loans, down payment loans for first time buyers, 203K loans, and they soon hope to be approved as a direct loaner for the State of New York Mortgage Agency. Each type of loan has its own characteristics but they are all subject to evaluation in relation to your own financial situation.

Continental is Technologically Set to Digitize Most of the Application Process

Their website is very well arranged and organized. The site includes a very detailed information about each of the above loan options. But beyond that, the website explains what the relevant factors are that the lender considers beyond the individual’s financial situation. They help their customers by providing many tools to assess your loan potential. However, the specifics are necessary to assess your actual loan potential. Even though the APR is designed to present the actual cost of obtaining financing, by requiring that some but not all closing fees are included in the APR calculation, it is important to assess the difference between upfront money and the overall cost of the loan. Comparing APRs across loan companies cannot tell you which loan to acquire without considering these factors.

Lots of Numbers Don’t Mean The Specifics are Clear

The costs of the loan as far as fees and service charges are not as clearly described or centered in this company’s description of their services. Remember, all retail home loan companies charge you for the privilege of their expertise and service in setting up, evaluating and processing the loan application. Finding out what those costs are is very relevant to your eventual financial obligation and more importantly how much upfront money it costs to get the loan.