First Colony Mortgage Corporation has served the lending needs of residents since 1984. As a mortgage banker, First Colony Mortgage offers many advantages over other lenders. Not only do we process mortgages, but we also underwrite, fund, and close mortgage loans all in one of our conveniently located branches.
Our expert team of in house mortgage professionals work together to ensure that loans are processed efficiently and quickly as possible. Paul and his assistant, Ali, were both great to work with. As a Realtor I know the importance of having a really good loan officer, and they were fantastic! I will be referring Paul to all my clients.
Our expert team of in house mortgage professionals work together to ensure that loans are processed efficiently and quickly as possible. Paul and his assistant, Ali, were both great to work with. As a Realtor I know the importance of having a really good loan officer, and they were fantastic! I will be referring Paul to all my clients.
Services
Purchasing
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Purchasing a home will be one of the biggest financial decisions of your life. We want to help you through it, and make the home loan process as simple and easy as possible. A mortgage loan is based on the individual and your needs, and our expert loan officers will find the program that works best for you.
Refinancing
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If you are like many people you are very happy with your home and your neighborhood, but have considered refinancing your current loan for different reasons. You may want to lower your current interest rate to to reduce monthly payments. Perhaps you have considered a cash out refinance to help with those home improvement projects on your list, or maybe you want to explore your options to get rid of mortgage insurance.
Loan Programs
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This is a HUD or government insured loan that allows buyers to purchase a home for only 3.5% down. The FHA loan has maximum loan limits for each county which are significantly lower than conventional limits (search your county limits here). An FHA loan is excellent for someone who has less money to put down, and someone who has higher debt-to-income ratios, or someone whose credit is less than perfect.
Mortgage Q&A
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Your interest rate is used to calculate your monthly payments. The APR (Annual Percentage Rate) is the total yearly cost of a mortgage, which includes the base interest rate, mortgage insurance, loan origination fees and other expenses such as property taxes, and stated as the percentage of the loan amount.
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