Your Trusted Torrington, CT Mortgage Lender

Conventional Mortgage Loans in Torrington

Conventional loans aren’t promised or insured by the Federal Housing Administration (FHA) or the Veterans Administration (VA). This means that because there isn’t any governmental financing, the lender (us) is responsible for any and all loans. Here is a list of our Torrington, CT conventional loans available at Prysma:

● Fixed-Rate Loan: These are fitting for Torrington, CT homeowners who prefer consistent month-to-month installments and financing. After making a set down payment, monthly payments are discussed and arranged at a fixed rate. There’s no need to guess what your mortgage payment will be because it’s not based on market and interest elements.

● Adjustable-Rate (ARM) Loan: For those Torrington, CT homeowners planning to only hold on to their investment for a short time should consider an Adjustable-Rate (ARM) Loan. These loans start out with a lower rate through the start of the loan and then fluctuates corresponding to the market variables and index rates. Your rate may be lower or higher from month to month. An interest cap is set for your Torrington, CT mortgage to restrict the maximum your rate can progress.

Non-Conventional Mortgage Loans in Torrington

● Federal Housing Administration (FHA) Loan: The Federal Housing Administration (FHA) Loan is a government-backed and guaranteed loan through your Torrington, CT lender. This is a good choice because it gives us the opportunity to provide you with a better loan that might have a reduced down payment, lower closing amount, or decreased interest rates. To qualify, you must have a valid Social Security number, lawful residency in the U.S. and steady employment within the last two years.

● Tax ID Loan: Tax ID Loans are an optimal choice for Non-U.S. citizens who don’t possess a Social Security number, credit score, or Green Card. We offer loans to workers in Torrington, CT who can present a valid passport and Individual Tax Identification Number (ITIN).

● Veterans Administration (VA) Loan: If you’re a military veteran preparing to secure a mortgage loan within the Torrington, CT region, our VA loan options may be just right for you! The majority of our VA loans don’t require a down payment and have lower interest rates when compared to conventional loans. The conditions for the VA loan include proof of military service, proof you haven’t been dishonorably discharged, and previous financial information.

Mortgage Refinancing in Torrington

Mortgage Refinancing Options: Refinancing is an option for homeowners wanting to adjust their monthly payments. It can be an increase or decrease in your interest rate or monthly payments. Often homeowners want to pay off their mortgage faster or pay less throughout the life of their loan. At Prysma, we strive to make certain your Torrington, CT mortgage loan fits your lifestyle and financial needs. Refinancing is often an excellent choice for many Torrington, CT homeowners.

Reverse Mortgage Options in Torrington

Reverse Mortgage Options: A reverse mortgage loan is sought when the homeowner is over 62 and would like to swap equity for cash. Owners accept monthly cash payments in exchange for part equity (ownership) of the home. This is a beneficial option for retirees requiring additional monthly income. Plus, the borrower doesn’t need to repay the lender until the home is sold or vacated.

Our Connecticut Home Loan Office Locations

Throughout Torrington, CT and all across the state of Connecticut, Prysma offers conventional and unconventional mortgage loans to individuals to help them secure financing for a new home. You can get started by filling out your paperwork online or by giving us a call.

We make the process straightforward and you never have to come to the office unless you choose to do so. If you prefer to pay us a visit, we currently have two Connecticut offices: