New Home & Veteran Mortgage

There are many great reasons to refinance your home. Colonial 1st Mortgage always puts you first, whether you are you looking for the lowest interest rate, converting an adjustable rate mortgage to a fixed rate, combining your first and second mortgages, looking to get cash out, or looking to remove someone from the title. We just need your address, what you owe and the reason you are considering refinance to work up a loan scenario for you. Just Click Here to get started or give us a call today at 804.967.2560.

At Colonial 1st Mortgage, we’ve helped hundreds of people pay off their mortgage, supplement their income, or pay for healthcare expenses with reverse mortgages. If you or your spouse is 62 years or older, a reverse mortgage may be right for you. Colonial 1st Mortgage is right here in Richmond and we’d be happy to meet with you in person or talk with you over the phone to answer any questions that you may have. Colonial 1st Mortgage always puts you first. Here are just some of the benefits of a reverse mortgage:

• Your name will still be on the title of your home and you can leave it to your
  children if you wish.
• You will receive a payment from the bank every month that you can spend how
  you wish.
• If you choose a credit line option, your credit line through the bank will actually
  grow over time.
• If your credit is less than perfect, give us a call, we’ve helped dozens of people in
  situations just like yours.

All we need to get started is your address, what you owe and your birthdate(s) to work up some preliminary figures for you. Just Click Here to get started or give us a call today at 804.967.2560.

If you are a veteran, an active-duty service member or eligible surviving spouse of a veteran, a VA home loan can help you realize your dream of homeownership. And, at Colonial 1st Mortgage, we always put our veterans first. You can choose between a fixed-rate or an adjustable-rate mortgage when purchasing a primary residence, or refinance an existing VA home loan to lower your mortgage rate and monthly payment. Program benefits include:

• 100% financing/no down payment
• No Private mortgage insurance
• Competitive interest rates
• No prepayment penalty

Just Click Here to get started or give us a call today at 804.967.2560.

The easiest way to know if you qualify is to give us a call, but here is a simple way to think about how the banks will look at your student loan debt. For the most part, the lender is going to use 1% of the loan balance as a monthly payment, or the actual payment reporting on the credit report. If you have less than 10 months of payments left, we may be able to exclude the payment. These guidelines are subject to change so make sure to give us a call at 804.967.2560 or Click Here to contact us so we can give you the most up to date information.

You may think you need perfect credit to qualify for a mortgage loan. Even though it takes between seven and ten years for derogatory information to fall off a credit report, it is possible to purchase a home with a foreclosure, bankruptcy, late payments or short sale on your credit record. We work with 38 lenders across the country and have access to several mortgage programs that have low credit score minimum requirements to accommodate borrowers with past credit issues.

Just Click Here to get started or call 804.967.2560 to talk with one of our mortgage specialists to discuss your options.

• 2 years of W2s.
• 1 month of paystubs.
• 2 months of bank statements, all pages all sides, even if blank. Must show name, address and account number.

• Copy of your driver’s license(s)
• Copy of current mortgage statement
• 2 years of tax returns if you are self-employed or if commissions are 25% or more of your salary
• Copy of purchase contract and earnest money deposit check (for purchases)

Your mortgage underwriter may request additional or updated information as part of the underwriting process. Just Click Here to get started or call 804.967.2560 to talk with one of our mortgage specialists to discuss your options.