Renovation Loan
Now homebuyers can purchase more house for less than they think with a Colonial Renovation Loan. Finish the basement, make a splash with a new pool, update to a gourmet kitchen and modernize baths, or if cozy has become cramped, build a whole new addition! In short, take an old house from blah and boring to bright and shining.
Purchase + Improvement
Looking to buy a fixer-upper or a home that almost checks all the boxes on your list? Colonial has you covered! Colonial’s Purchase + Program lets you combine the financing for your new home with the financing for your updates or remodel all rolled into one. Update the kitchen or build an outdoor oasis all without lifting a hammer.
- Finance up to 95% of the home’s improved value
- No need for additional funds for improvements after closing – you can finance
- The appraiser will assess the home based on its future value after the renovation is complete
- One Loan for both purchase and renovation
- Take up to 12 months to complete renovations
- Up to six mortgage payments can be financed, if you cannot live in the home during renovations
Make A Splash With A New Pool!
Our Purchase Plus Loan lets you combine the financing for your new home with the financing for a pool. It’s just one more innovative way we make home financing easier.
- Take up to 9 months to complete a pool or other new features.
- Loan to Value (LTV) will be based from lessor of appraisal including the value of the improvements or other additional features or contract of home and contract of improvements and additional features.
Refinance + Remodel
If you own your home and are wanting to make updates or additions, Colonial is here to help! With Colonial’s Refinance + Loan, you can use the equity you have in your home to make improvements to your property. Build your dream kitchen, remodel your master bathroom or add a great new space to entertain family and friends, the possibilities are endless.
- Take up to 12 months to complete renovations
- Finance up to 95% of the home’s improved value
- Competitive rates and terms
Eligible properties must be located in CO, TX, WY, FL or AR. Rates and terms are subject to change without notice. This is not a firm offer of credit or a pre-approval. All applicants are assessed following a completed application. Colonial National Mortgage is a division of Colonial Savings, F.A. NMLS 401285.
