Working with a lender affiliated with your contractor/builder can expedite the process and make it easier for you. Design Tech Homes’ preferred lender, Colonial National Mortgage, specializes in single close construction loans.
Single Close means one loan – start to finish. You sign one set of loan documents that covers both the interim construction phase and the permanent loan. This eliminates the need for multiple loans to get into your new home. With a single loan, you can purchase the land for your home and complete the construction. When construction is complete, the loan converts to a permanent mortgage loan saving considerable time and money. The construction period is up to 12 months to allow time to build the new home and sell the existing home.
Download Colonial’s guide to new home construction loans here. The guide includes information about costs involved in building a new home, how the loan process works, how draws are dispersed and more.
With Colonial National Mortgage, you’ll find professionals dedicated to providing all your financing options at competitive rates. Established in 1952 and a division dedicated to construction lending since 1997, Colonial National Mortgage will make financing and building your new home an exciting, rewarding experience. They understand that everyone has different needs and work hard to personalize their service to tailor each home loan to fit those needs. Let the professionals at Colonial National Mortgage put their knowledge and experience to work for you.
To get started, you can make an appointment with one of their Residential Mortgage Loan Originators located conveniently on-site at each of our Information Centers in San Antonio and the Houston area. Or you can visit Colonial National Mortgage online to find out more about:
- Their qualified team of experts
- Loan pre-qualification
- Estimating your monthly payment
- Applying for a loan
- Competitive construction/permanent loan options
- Construction Loans and Financing Options
Start the process of financing your new home construction today! The knowledgeable New Home Consultants at Design Tech Homes can guide you along the way. Colonial National Mortgage is a division of Colonial Savings F.A. Equal Housing Lender. NMLS 401285