Www Houseloanmortgageloans Tag Col3 House Loan Mortgage Loans Colonial Nationalortgage : Loan Programs

Jumbo Loans

A jumbo mortgage exceeds the industry-standard definition of a conventional conforming loan, which is currently $417,000. However, some upper limits of jumbo loans are set on a county-by-county basis. Your Loan Officer is well versed in the various guidelines used to underwrite a jumbo loan and can guide you through the application process.

Construction Loans

The Single Close Construction Loan from Colonial National Mortgage combines the interim and permanent financing into one loan with one application, one set of fees and one closing.

Unlike traditional loans for new home construction that require re-qualifying and duplicate paperwork, the Single Close Loan eliminates these steps to save you time, trouble and thousands of dollars in interest costs.

Enjoy a full 12 months of interest-only payments
No need to sell your current home before moving into your new home, so there is no need to move twice
No credit updates or re-qualifying. No hassle of collecting paperwork a second time.

Borrowers may choose from several loans programs, many at rates below what is normally charged for interim construction financing. Lot equity or items borrowers have paid in advance may be used as credit toward the down payment. In many cases, lot equity is sufficient to cover the down payment completely.

Relocation Loans

At Colonial National Mortgage (CNM), we recognize the unique challenges involved within the relocation process and the knowledge and expertise needed to facilitate a smooth transition. As a result, we have built our relocation division based on years of experience and feedback from within the relocation mortgage industry with a specific focus on meeting the challenges and needs associated with a corporate relocation.

Relocation program administrators can rest assured that their relocating employees are provided the highest quality service at competitive rates with knowledgeable experienced professionals navigating them through the relocation process. Relocating employees can rest assured that they will find the best financial solution for their needs with a dedicated and experienced advocate.

Individuals or families that are relocating on their own or through an employer sponsored program can trust Colonial National Mortgage. CNM is prepared, passionate, and positioned to service their needs.
"At your service. On your side"

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Home Equity Loans

Home equity loans offer a wide variety of amortization periods (length of time to pay it back), more choices for people with less-than-perfect credit, fixed rates so your rate can never go up and the interest paid may be tax deductible.*

*Consult your tax advisor.

Reverse Mortgages

A reverse mortgage is a home loan that homeowners at least 62 years of age can obtain to access the equity in their home.

Reverse mortgages are called such because you borrow money from a lender and the lender makes monthly payments to you, rather than making monthly payments to the lender. A lump sum option is available as well. All interest is paid at the end of the loan, rather than at the beginning.

What are some of the benefits of a reverse mortgage from Colonial National?

Strengthen your personal and financial independence
Help pay for health care or other needs
You can never lose your home in foreclosure as long as you maintain the property tax and insurance payments, and any homeowner's association dues
The loan is only paid or required to be paid when the house is sold by you or your heirs, or all borrowers move out of the house
A Reverse Mortgage does not affect your Medicare or Social Security benefits
No income requirements: the homeowner does not need to be employed and the loan is not qualified based on income
Funds received from a Reverse Mortgage are not subject to income tax and do not affect Social Security benefits

For more information and a consultation, contact our Reverse Mortgage specialist.

Save Thousands in Interest & Cut Years off Your Term

Colonial National Mortgage offers several Convenience Pay Plans, including our HomePath® Mortgage and Renovation Loans

HomePath® Mortgage and Renovation Loans

* All features/parameters are subject to change without notice *

Colonial National Mortgage is a Fannie Mae-approved lender for the HomePath® Mortgage and the HomePath® Renovation Mortgage.

HomePath® Mortgage features:

$50,000 minimum loan amount
Minimum credit score of 660 is required
Select from a wide inventory of Fannie Mae's real estate owned (REO) properties
High loan-to-value ratios
3% down payment
15% down payment on 1-unit investment properties
No appraisal requirement
No mortgage insurance requirement
Financing available for renovation
No condos in AZ, CA, FL, MI or NV

HomePath® Renovation Mortgage features:

Primary residences, second homes and investment properties
$50,000 minimum loan amount
Minimum credit score of 660 is required
Renovation loans are not available from Colonial National Mortgage in New York, New Jersey, Delaware, North Dakota, South Dakota as well as Florida Counties of Broward, Collier, Charlotte, Dade, Lee and Sarasota.
High loan-to-value ratios
Renovation component is built into loan amount
Appraisal required
Renovation must be completed within 6 months of closing
No condos

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Www Houseloanmortgageloans Tag Col3 House Loan Mortgage Loans Colonial Nationalortgage : Loan Programs

Www Houseloanmortgageloans Tag Col3 House Loan Mortgage Loans

Jumbo Loans

Construction Loans

Relocation Loans

Home Equity Loans

Reverse Mortgages

Save Thousands in Interest & Cut Years off Your Term