COLONY MORTGAGE, INC.
Products:
There are almost as many different types of mortgage loans as there are borrowers who need to use the loans. Here at Colony Mortgage Inc., we offer numerous products and programs that will be suitable to your specific needs. It is important to address your situation to one of our experienced loan officers to best serve you. We work with the leading lenders in the industry to provide the best service possible as well as a stress free transaction! Some of the programs we serve are listed below:
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REVERSE MORTGAGES
If you’re 62 or older – and want money to pay off your mortgage, supplement your income, or pay for healthcare expenses – you may consider a reverse mortgage. It allows you to convert part of the equity in your home into cash without having to sell your home or pay additional monthly bills.
Reverse mortgages take part of the equity in your home and convert it into payments to you – a kind of advance payment on your home equity. The money you get usually is tax-free. Generally, you don’t have to pay back the money for as long as you live in your home.
CONVENTIONAL LOANS
A conventional mortgage or conventional loan is a home buyer's loan that is not offered or secured by a government entity. It is available through or guaranteed by a private lender or the two government-sponsored enterprises—Fannie Mae and Freddie Mac.
USDA LOANS (100% FINANCING)
USDA home loans offer 100% financing, low rates, and affordable payments. These loans are becoming more popular by the day, as buyers discover an easier way to buy a home with zero down payment.
FHA LOANS
The FHA loan is the most popular government-backed home loan in the country. These low down payment loans are made by qualified lenders and guaranteed by the Federal Housing Administration (FHA).
FHA STREAMLINE & 203K
One such FHA program is its construction/REHAB loan program, known as the “203k loan.” The 203k comes in two varieties — the Standard and the Limited. (The Limited 203k is formerly known as the FHA 203k Streamline.)
VA LOANS
We offer VA home loan programs to help you buy, build, or improve a home or refinance your current home loan—including a VA direct loan and 3 VA-backed loans. Learn more about the different programs, and find out if you can get a Certificate of Eligibility for a loan that meets your needs.
JUMBO
A loan is considered jumbo if the amount of the mortgage exceeds loan-servicing limits set by Fannie Mae and Freddie Mac
Jumbo mortgages are available for primary residences, second or vacation homes and investment properties, and are also available in a variety of terms, including fixed-rate and adjustable-rate loans. A jumbo loan will typically have a higher interest rate, stricter underwriting rules and require a larger down payment than a standard mortgage.
Colony Mortgage, INC.
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