Your Trusted East Hartford, CT Mortgage Lender

Conventional Mortgage Loans in East Hartford

As the lender, Prysma is responsible for all mortgaging for conventional loans as they are not backed by the government. This means that government agencies such as the Federal Housing Administration (FHA) and the Veterans Administration (VA) are not involved in the backing or insuring of these loans. These are Prysma’s conventional loan offerings for East Hartford home buyers:

● Fixed-Rate Loan: If you are interested in a loan with set month-to-month payments and financing, a fixed-rate loan may be the perfect choice for your East Hartford family. Our loan specialists will discuss and set a fixed loan rate based on your specific situation and down payment amount. You won’t have to worry about guessing what your monthly rate will be as it will not change due to the market or interest variables.

● Adjustable-Rate (ARM) Loan: For East Hartford families which are not planning to stay in their home for a long-term, an adjustable-rate mortgage might be a smart choice. A predetermined initial period offers a lower rate. After this period, rates fluctuate based on market conditions and index rates. We negotiate an interest cap on your mortgage which limits the amount your mortgage rate can increase, but your rate may vary from month to month within that rate range. This means some months you will pay a higher rate and others you will pay a lower rate.

Non-Conventional Mortgage Loans in East Hartford

● Federal Housing Administration (FHA) Loan: Federal Housing Administration (FHA) Loan: The Federal Housing Administration backs and insures these loans through Prysma for your East Hartford home purchase. Benefits of these loans may include a smaller down payment requirement, lower closing costs, or a lower interest rate. To qualify, a buyer must have a valid Social Security number, lawful residency in the U.S., and a steady, two year employment history.

● Tax ID Loan: Non-citizens who do not have a Social Security number, credit score, or Green Card may choose to use a Tax ID loan. To qualify, an East Hartford resident must have a passport and Individual Tax Identification Number (ITIN) for this type of loan.

● Veterans Administration (VA) Loan: East Hartford military veterans may find that a Veterans Administration (VA) loan is the perfect choice for their home buying needs. Many of these loans require no money down and have low interest rates. To qualify, a veteran must be able to show proof of military service, proof that their discharge was not dishonorable, and prior financial history.

Mortgage Refinancing in East Hartford

Mortgage Refinancing Options: If you would like to make adjustments to your monthly payments, a mortgage refinance through Prysma is a great option. A refinance might be used to increase or decrease your interest rate or monthly payments for a East Hartford homeowner to pay off a mortgage more quickly or to decrease the amount paid through the lifetime of a loan. At Prysma, we can tailor your mortgage to the lifestyle and needs of your family.

Reverse Mortgage Options in East Hartford

Reverse Mortgage Options: Reverse Mortgage Options: A reverse mortgage loan can help qualifying homeowners to exchange their home equity for cash. To qualify, you must own your East Hartford residence and be over the age of 62. Rather than you paying us, we pay you for partial equity of your home each month, giving you extra monthly income. The borrower agrees to pay back the lender in the event that the home is vacated or sold.

Our Connecticut Home Loan Office Locations

Throughout Connecticut and in the East Hartford area, Prysma offers conventional and unconventional mortgages. We give you the option of convenience with the ability to complete all loan processes over the phone or by email.

However, if you would like to stop by one of our locations, we have two in Connecticut: