Your Trusted Bristol, CT Mortgage Lender

Conventional Mortgage Loans in Bristol, CT

Before choosing a loan, it’s necessary to understand how loans work. Conventional loans aren’t backed and insured by the Federal Housing Administration (FHA) or the Veterans Administration (VA). The lender (us) is responsible for all mortgages because the government doesn’t back this type of loan. Here are our Bristol, CT conventional loan options at Prysma:

● Fixed-Rate Loan: If you would like to have fixed monthly payments for your Bristol, CT mortgage loans. To obtain a fixed-rate loan, you provide a set down payment as part of the investment. We discuss monthly payments to establish a fixed monthly rate. Since it’s a fixed-rate, it never fluctuates as a result of market or interest variables.

● Adjustable-Rate (ARM) Loan: An Adjustable-Rate Loan (ARM) were developed for Bristol, CT homeowners that choose to keep their house for a short period. ARM loans start with a low rate, then rise or fall depending on index rates and market conditions. There is an interest cap to prevent it from exceeding the maximum rate for your Bristol, CT home loan.

Non-Conventional Mortgage Loans in Bristol, CT

● Federal Housing Administration (FHA) Loan: The Federal Housing Administration (FHA) is loan insured by the government and provided by your Bristol, CT lender. This option is an excellent loan that usually requires a low down payment and has lower closing costs. New homeowners need to have proof of a lawful residency in the U.S., a valid Social Security number, and steady employment over the past two years.

● Tax ID Loan: If you’re a Non-U.S. citizen without a Social Security number, credit score, or Green Card then this might work for your situation. We currently have loans available for Bristol, CT workers who have a passport and an Individual Tax Identification Number (ITIN).

● Veterans Administration (VA) Loan: Military veterans in need of a mortgage loan for a new home in the Bristol, CT region, our VA loans could be what you looking for. When you consider the rates of conventional loans, many of our VA loans are lower and don’t need a down payment. Applicants must provide proof of military service, a record that you haven’t been dishonorably discharged, and past financials.

Mortgage Refinancing in Bristol, CT

Mortgage Refinancing Options: If a homeowner wants to adjust their monthly loan payments, they often seek out refinancing options. It typically offers an increase or decrease in your monthly payments or interest rate if you would like to pay your loan off faster or less over the lifetime of the loan. We always work hard to ensure your Bristol, CT mortgage refinancing options are the right fit for you. We make refinancing a simplified process for Bristol, CT residents.

Reverse Mortgage Options in Bristol, CT

Reverse Mortgage Options: This type of loan is designated for homeowners over the age of 62 and ready to swap equity for cash. The homeowner exchanges part equity (ownership) of their home in order to receive monthly payments. This is especially beneficial for retirees that need additional income to survive on month-to-month. Repayment of the loan isn’t required until the residence is left or sold.

Our Connecticut Home Loan Office Locations

Speak with the Prysma professionals if you’re in the Bristol, CT area and in need of a conventional or unconventional mortgage loan. We provide services throughout the state of Connecticut. If you prefer not to visit our location to fill out the loan documentation, complete it online or by giving us a call during normal business hours. Our experts are more than happy to assist you with the loan process.
However, we invite you to stop by our one of our offices in Connecticut if you feel more comfortable filling out your mortgage loan application in person. Visit us during regular operating hours: