Construction Loan Experts Now Offering Colonial’s Single Close Loan


Same outstanding team, now with the addition of Colonial’s long history of superior customer service and award-winning products, Criterion Mortgage is now Colonial National Mortgage.Same outstanding team, now with the addition of Colonial’s long history of superior customer service and award-winning products, Criterion Mortgage is now Colonial National Mortgage. Led by Pat Goolsby, who served as President of Criterion Mortgage since 2000, her team of experienced professionals now offer Colonial’s full suite of loan products that have made them one of the most trusted companies in the mortgage industry since 1952.

Goolsby and her team now offer one of the best construction loan programs in the country in Colonial’s Single Close Construction Loan. Unlike other construction loan programs that require more than one set of documents to get into your home, Colonial’s Single Close Construction Loan allows borrowers to sign one set of documents that covers both the interim construction phase and the permanent loan. With one application, one loan and one closing, Colonial’s Single Close Construction Loan covers you from groundbreaking to move-in.

With offices conveniently located in Houston and San Antonio, Goolsby and her team can help you achieve financing to build your dream home.

Below are a few of the notable highlights of the Colonial Single Close Construction Loan:

  • 95% LTV up to $417,000 loan amount
  • 90% LTV up to $650,000 loan amount
  • 80% LTV up to $1,000,000 loan amount
  • 70% LTV up to $1,250,000 loan amount
  • Rate Protection with Float-Down Option
  • Combines interim and permanent financing into one loan with one application, one set of fees and one closing
  • No need to re-qualify or duplicate paperwork because the single close loan eliminates these steps to save you time, trouble and potentially thousands of dollars in construction closing 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 (conditions may apply. Consult your loan officer for more details)
  • Applicants may choose from several loan programs, many at rates below what is normally charged for interim construction financing
  • Lot equity may be used as credit toward the down payment and in many cases, lot equity is sufficient to cover the down payment completely

Column OnlyColonial, who retains servicing on 97% of home loans they originate, recently received a rating of five stars by Bauer Financial as one of the strongest financial institutions in the country. Colonial is also recognized by Fannie Mae as one of the top mortgage servicers in the nation and holds an A+ rating by the Better Business Bureau.

If you would like to learn more, download Colonial’s Consumer Guide to Construction Financing or visit the Single Close Construction section of our website. You can also call 830.980.1122, or click here to get in touch with Pat Goolsby, Branch Manager, to find out more information.

 

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2 Responses to “Construction Loan Experts Now Offering Colonial’s Single Close Loan”

  1. Elsa Martinez says:

    I would like to no who to contact in the Spring /Tombal/area?

    http://www.har.com/elsamartinez

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