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In the Southbury area, Prysma Lending Group is your trusted lender for conventional and unconventional loans. We have been able to help families with many options to own their own homes. Our team of mortgage professionals will meet with you to choose the right loan option for your mortgage needs. We have two office locations to meet with you at your convenience:
Give us a call at (855) 782-0862 or fill out the form to hear about your mortgage options.
Conventional Mortgage Loans in Southbury
The conventional mortgages include the Federal Housing Administration (FHA) and the Veterans Administration. They do not back or insure these types of loans. With no government financing, the lender is responsible for the mortgage. At Prysma, we offer conventional loan options, including:
● Fixed-Rate Loan: This type of loan is excellent for the Southbury homeowner that is organized and reliable to make month-to-month payments. A set fixed rate determines the monthly payment amount in exchange for a set down payment. The market and interest variables do not impact your payments and financing for paying the mortgage.
● Adjustable-Rate (ARM) Loan: For Southbury homeowners who are planning on keeping the house for only a short period of time, ARM loans are a perfect option. ARM loans have a lower rate during the initial period but are fluctuating based on the market conditions and index rates. Your rate could be lower or higher on different months but limits the maximum amount the rate can increase. When the ARM loan is determined, an interest cap will be negotiated and placed on your mortgage.
Non-Conventional Mortgage Loans in Southbury
● Federal Housing Administration (FHA) Loan: Federal Housing Administration offers FHA loans backed by the government and insured through the Lender. FHA loans have lower down payments, lower closing costs, and even lower interest rates. The lender can offer you a better deal. Still, borrowers must have lawful residency in the U.S., a valid Social Security number, and a steady employment history within the past two years.
● Tax ID Loan: Borrowers with a passport and Individual Tax Identification Number (ITIN) can still be offered a loan even if they are non-US citizens. The borrower does not have to have a social security number, credit score, or green card.
● Veterans Administration (VA) Loan: Veterans looking for a mortgage loan in Southbury can apply for a VA loan that includes lower interest rates compared to conventional and no need for a down payment. The veteran must show proof of military service, no dishonorable discharge, and other financial information.
Mortgage Refinancing in Southbury
Mortgage Refinancing Options: Refinancing options here at Prysma offer adjustments to your monthly payments. The adjustments can include increasing or decreasing interest rates or monthly payments to pay less throughout the loan or pay off the loan more rapidly. With mortgage refinancing, we want to offer options for our borrower’s lifestyle and financial needs to better your financial situation.
Reverse Mortgage Options in Southbury
Reverse Mortgage Options: Reverse mortgage options are great for homeowners over the age of 62 and want to exchange their current equity for cash. The exchange comes with the ownership of the home, and Prysma pays you rather than paying monthly payments for the mortgage. The borrower does not have to make payments until the house is vacated and sold. The cash is an excellent line for another form of income monthly for retired borrowers.
Our Connecticut Home Loan Office Locations
At Prysma Lending Group, we have conventional and unconventional loan options for Southbury and the surrounding areas. The loan process can be completed with our team on the phone, online, and in person. Our offices are here at your convenience to meet with our team to look at all your loan options.
Visit us today to get started on the mortgage process with one of our Mortgage Loan Originators. We have offices located at:
Focused on Hispanic Homeownership
We know that not everyone gets treated equally in the home-buying process. We’re here to correct that for members of our community.
20+ Years of Experience
We’re passionate about what we do, so it’s easy for us to keep growing and delivering home loans to Hispanic families throughout Southbury, CT
We’re Honest And Transparent
We want to make your home-buying experience as clear and accessible as possible. We will always be upfront with you about your options.
We Find Solutions
The home-buying process can be challenging. We’ll help you navigate your options and find the home loan that’s perfect for you.