To help determine the best loan program for you, consider the following:

How important is payment certainty?
If knowing that your payment will be the same every month is important, consider a fixed rate loan.

How important is rapid equity buildup?
If you want to build equity quickly, consider a shorter amortization period, such as a 15-year, fixed rate mortgage. You can also build equity faster with our Interest Saver Program.

Do you anticipate increasing or stable income?
If income growth is anticipated, you could take advantage of a lower start rate on an Adjustable Rate Mortgage or a temporary buy-down. Other factors to consider include:

• ability to qualify at market rates for loan amount selected
• anticipated term of occupancy
• possibility of significant rate change
• existence of up-front costs

Fixed Rate

• 15- and 30- year terms
• FHA, VA and Conventional and Balloons
• Interest rate does not change
• Principal and interest (P&I) does not change
• Fixed rate mortgages fully amortize over a defined period of time and are paid in full at the end of the loan term
• The shorter the term, the faster equity is built and the loan is paid off

VA Loans

Almost any lender can do a VA loan for qualified Veterans, so why use a specialist? If you've dealt with military personnel or government agencies, you know the value of someone who knows the forms, the rules and regulations. Colonial National Mortgage has expert staff prepared to guide you through the VA loan process from start to finish.

• 100% Financing
• No traditional mortgage insurance required
• Funding fee waived to those with VA disability of 20% or more
• Seller can pay all of closing costs and some other costs
• Faster refinancing

Fixed Rate Balloons

• Principal and interest do not change
• Regular monthly P&I payments are based on a 30 year amortization, while the unpaid balance (balloon) is due at the end of a shorter, predetermined term, typically 5, 7 or 10 years
• Interest rate is typically less than fixed rate loans
• Most borrowers anticipate refinancing or selling prior to the end of the balloon term

Fixed Rate with Temporary Buy-Down

• Borrowers or the seller may pay to temporarily "buy down", or lower, the interest rate
• Decreased interest rate reduces the monthly payment
• Lower interest rate may help borrowers qualify more easily; qualifying factors may vary
• Interest rate/payment is typically reduced for 1, 2 or 3 years

Adjustable Rate Mortgages (ARMs)

• There is potential for the interest rate and payment to fluctuate
• ARMs transfer to borrowers a portion of the risk associated with a changing economy
• In exchange for sharing the risk, ARMs offer borrowers initial interest rates that are substantially lower than fixed rate mortgages
• The lower interest rate may help borrowers qualify more easily; qualifying factors may vary

Refinance

Find out if it's the right time to refinance! You may be able to lower your monthly payment and/or reduce the time it takes to pay off your loan. Either or both can save you a lot of money. Here are some important reasons to consider refinancing:

• Get a lower mortgage rate and reduce interest costs
• Convert an adjustable rate mortgage to a more secure fixed rate mortgage
• Consolidate your first and second mortgages into a mortgage with a lower rate
• Pay off installment debts or credit cards

The advantages we offer for your refinancing needs include:

• Competitive rates and reduced fees
• Easy online application
• Conventional, FHA, and VA mortgage programs
• Guidance and advice from an experienced loan professional

Ready to refinance your current mortgage?

Apply online for pre-qualification or request a call from a mortgage professional to discuss your options.

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 Automated Pay Plans, including our Interest Saver Program, which can cut years off your mortgage term and save thousands in interest expense.

Interest Saver Program (ISP)

• match the timing of your paydays with smaller installment payments on your loan (bi-weekly or semi-monthly versions of the Program available).
• significantly accelerate the rate of the equity growth in your home
• convenience of automatic bank draft and security fo a perfect payment history
• click here to inquire further
• how much will I save
• request a summary of savings

Convenience Pay Plan (CPP)

• make smaller installments rather than one large payment per month
• convenience of automatic bank draft and secruity of a perfect payment history
• click here to inquire further
• request a summary of savings

Monthly Draft Plan (MDP)

• make your monthly payment on the 1st of each month with the convenience of an automatic bank draft
• develop a perfect on time payment history on your loan
• click here to inquire further
• request a summary of savings

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

HomePath® is a registered trademark of Fannie Mae.

Relocation Services

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"

Introduction Page
Program Administration
Mortgage Customer Center
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Colonial Select Group Mortgage Program

With Colonial Select, employees of your company or members of your organization will enjoy reduced lender fees and qualify for additional value-added services. There is no charge to participate, no endorsement required and no contract to sign - just big benefits and money saving offers. Groups of 2 to 20,000 are eligible.

For more information on how your company or organization can participate in Colonial Select, contact your Loan Officer.

• Discounted Lender Fees. As a member of Colonial Select, you'll save significant money when you close your loan. Ask your Loan Officer for details.
• Discounted Personal Loans. As a Colonial Select customer, you are eligible for reduced rates on personal loans from Colonial Savings. Take .25% off posted rates on a Signature Loan, and another .25% off when your Signature Loan payment is drafted from a Colonial Savings checking or savings account - a total of ½% off posted rates. Subject to credit approval.
• Colonial Checking Account. With lots of benefits - from online shopping discounts to personal I.D. protection, our checking account is perhaps the best value in the market today.
• On-Site or On-Line Application. No need to take time out of your busy schedule to apply for a home loan. We'll come to you. Or use our fast on-line application to get started today.
• Educational Seminars. Whether it's your first home or you just want to know how to buy your next home better, we've designed a number of seminars to walk you through the home buying process.
• Homebuyer Privileges®. Colonial National Mortgage is a participating lender in Genworth's Homebuyer Privileges®, a program of discounts, rebates and special offers to help you save on the things you need to make your house a home. See details below.

Homebuyer Privileges®

Colonial National Mortgage is a participating lender in Genworth Financial Homebuyer Privileges®, a program of discounts, rebates and special offers to help you save on the things you need most for your home.

When you purchase or refinance your home with Colonial National Mortgage, your Loan Officer will provide you with a Lender Participation Code and Homebuyer ID Number. Then you can take advantage of additional benefits, brought to you by Genworth Financial, including rebates and discounts on major appliances, truck rentals and moving supplies, discounts from national merchants and much more.

View the special offers brought to you by Genworth Homebuyer Privileges® and Colonial National Mortgage or to log in with your Lender Participation Code and Homebuyer ID Number, available from your Loan Officer.