You can buy a home with just $1000

As long as you qualify based on income and credit standards, the home appraises and the title is clear, Continental Home Loans, Inc. has structured a mortgage program to make the seemingly impossible possible.

By working with the top real estate professionals on Long Island and in the boroughs, we have been able to explain to many home sellers how to better position their homes for sale by eliminating the biggest obstacle to people buying their first home; sufficient funds for the down payment, closing costs, establishing escrows, and reserves.

We have carefully designed a loan program that fits within the guidelines of the Federal Housing Authority which means this product is insured by Federal Government. Each home will have an individually crafted combination of sales concessions and grants through HUD approved No-for-Profits that will cover all the cash requirements for the home buyer (except their attorney, and if the buyer chooses, a termite and/or home inspection).

Because the loan is an FHA insured loan, there are loan limits that restrict the amount of money that can be lent, making only certain homes eligible.

How the program works for a buyer

We will be hosting regular seminars to explain the "nuts and bolts" of the program and accepting applications to establish eligibility. This is a fully documented loan product in terms of credit, assets, and income. We are looking for good (not perfect) borrowers. Continental has long believed in granting loans to people for whom the loan is suitable (meaning they can afford it).

Prospects are urged to bring copies of their pay stubs and most recent bank statements to the seminars. They will fill out a Quick Application for a mortgage and an authorization for Continental Home Loans to run their credit report. Within 48 hours a Continental Mortgage Planner will contact the prospect by phone to go over their submission and put together a more complete picture before submitting the application to an underwriter.

Approved borrowers will be e-mailed a "Good as Gold" certificate which will give them the power to enter into contract on any home available in the program up to the limit displayed on their certificate.

E-mail today for more information or for a free rate quote at: mortgageinfo@c21amhomes.com