Why make the property owner rich when you can be building equity in your own home? With rent prices continuing to increase, it may be time to get on track to owning your own home. You may even be able to own a home for lower than your current monthly rent payment by taking advantage of near historically low interest rates.
The price of paying rent has been steadily increasing over the past decade, causing a lot of renters to search for areas with better affordability. With a fixed-rate mortgage, you know how much you are paying year-after-year, giving you peace of mind when calculating monthly expenses.
Owning your home allows you to build equity over time. As your home’s value increases and you pay down your mortgage, the equity in your home can become a valuable asset to your financial future.
Customize Your Space
When you own your home, you don’t have to consider the property owner when you want to customize your home, like adding new fixtures, painting or landscaping. The home is yours to add your own personal spin on each room.
Colonial offers home loan programs that fit a variety of needs and credit profiles. Home Loan programs include: