Your Trusted New Haven, CT Mortgage Lender

Conventional Mortgage Loans in New Haven

The Federal Housing Administration (FHA) or the Veterans Administration (VA) do not back or insure conventional loans. This means that since there is no governmental financing, the lender (us) is responsible for all mortgaging. These are our New Haven conventional loan options at Prysma:

● Fixed-Rate Loan: These are ideal for a New Haven homeowner who is very reliable month-to-month with payments and financing. Monthly payments per month will be discussed and set at one simple fixed rate in exchange for a set down payment. This way market and interest variables won’t make you have to guess what your mortgage payment will be.

● Adjustable-Rate (ARM) Loan: For New Haven homeowners who are planning on keeping the house for a short term, ARM loans are a great option. These loans have a lower rate during the determined initial period, and then fluctuate depending on market conditions and index rates. This means that your rate could be lower or higher on different months, but to limit the maximum your rate can increase, an interest cap is negotiated and placed on your New Haven mortgage.

Non-Conventional Mortgage Loans in New Haven

● Federal Housing Administration (FHA) Loan: Federal Housing Administration (FHA) Loan: The Federal Housing Administration is government-backed and insures these loans through your New Haven lender. Including a lower down payment, lower closing cost, or lower interest rates, we can offer you a better deal possibly. Borrowers must have lawful residency in the U.S., a valid Social Security number, and have steady employment history within the past two years.

● Tax ID Loan: For Non-US citizens who do not have a Social Security number, credit score, or Green Card, these loans are the right fit. Workers who have a passport and Individual Tax Identification Number (ITIN) can be offered loans in the New Haven area.

● Veterans Administration (VA) Loan: Our VA loan options may be perfect for you if you’re a military veteran looking for a mortgage loan in New Haven! Our VA loans have very low interest rates compared to conventional loans, and most don’t require money down. All that is required for this loan is proof of military service, proof that you haven’t been dishonorably discharged, and prior financials.

Mortgage Refinancing in New Haven

Mortgage Refinancing Options: When you want to make adjustments to your monthly payments, refinancing is usually used. This can be increasing or decreasing your interest rate or monthly payments to pay less through the lifetime of the loan or pay off the mortgage quicker. We aim to mold your New Haven mortgage around your lifestyle and financial needs at Prysma. Refinancing is often a useful option for New Haven homeowners.

Reverse Mortgage Options in New Haven

Reverse Mortgage Options: If you’re a homeowner over the age of 62 and looking to exchange equity for cash, a reverse mortgage loan is for you. You exchange your part equity (ownership) of the home and we pay you instead, rather than paying us monthly payments for your mortgage. The borrower isn’t required to pay back the lender until the home is sold or vacated. This is popular for retirees looking for income to live on month-to-month.

Our Connecticut Home Loan Office Locations

Prysma offers both conventional and unconventional mortgage loans in Greater New Haven and all throughout Connecticut. Each step of the loan process can be accomplished over the phone or online. You are not required to visit our offices to complete the loan process.

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