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Your Trusted FHA Mortgage Lender in CT

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FHA Loans CT: Apply Today

Get started by viewing CT FHA Loan Requirements.
As Connecticut’s #1 FHA loan provider, Prysma has helped thousands of families throughout Connecticut, New York, Massachusetts and Florida realize their dream of home ownership.
Prysma Lending Group specializes in FHA loans for homeowners with products and FHA lending solutions designed for First Time Home Buyers, FHA Refinances and more.
Our experienced loan professionals sit down with you to find the best rates and loan options for you and your family. We are your dedicated partners in home ownership.
Fill out the form or call today to learn how FHA loans may be the right solution for you. (855) 906-3416

Understanding FHA Loans & Loan Requirements in CT

How Do FHA Loans Work?

The Federal Housing Administration (FHA) – which is part of HUD – insures the loan, so a lender can offer you a better deal. This potentially offers lower down payments, lower closing costs, or qualifying easy credit.
Even if you have a low income and a low credit score you may still be eligible for a FHA loan, that’s the great part about them. There are even a few specific loans for those without a credit score. On the other hand if you have a good credit score, you may be able to start out with a low down payment or slightly lower interest rates.

FHA Loans CT - Mortgage Lender in Connecticut

Are There Beneficial FHA Loan Types For Seniors?

Yes. If you are 62 or older and live in your own home, own it outright or have a low loan balance, you can apply for a FHA Reverse Mortgage. This special mortgage allows you to convert a portion of your equity in the home into cash providing you an additional source of income as you grow older.

FHA Loans Requirements CT

In Connecticut, FHA loan requirements are the following:
● Stable employment with income for at least two years, ideally with the same employer● Good credit, or with a credit score lower than 580, must be able to make a down payment as high as 10%, and as little as 3.5%● No foreclosure on a property in the last 3 years● No bankruptcy in the past 2 years● One or zero 30-day grace period on late payments on credit report● FICO score greater than 500● Have a Mortgage Insurance Premium (MIP)● Loan being taken out for a primary residence occupancy● Home meets minimum standards for appraisal

Apply for FHA Loan CT

If you pass all CT FHA Loan requirements, then you are ready to apply. Prysma Lending Group specializes in CT FHA Loans and can help you get started today. Get started by applying for an FHA loan in CT at the top of this page.

What Are The Requirements For a FHA Loan?

Borrowers must have a steady employment history or worked for the same employer for the past two years.

● Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.

● Borrowers must pay a minimum down payment of 3.5 percent. The money can be gifted by a family member.

● New FHA loans are only available for primary residence occupancy.

● The property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).

FHA 203k Loan CT

When a property in Connecticut is in need of repairs, a 203k loan option can be a smart mortgage loan option. 
The main benefit of a 203k loan is that with just one loan, borrowers can purchase a "fixer-upper" and finance the repairs that need to be made. Additionally, down payments as low as 3.5% make 203k loans an attractive option.
Requirements for 203k loans in CT are outlined below:● Borrowers must be first time home owners, and have not owned a home in the past 3 years.
● Investment properties are not allowed. Borrowers must make this home their primary residence within 1 year.
● Total cost of home rehab must not be greater than the maximum loan amount outlined in the loan.
● Construction contracts must be made with a state-licensed construction company.
● The sales price of the home must be within the CHFA Sales Price Limits, and your gross income must be within the CHFA Income Limits.    

The 4 Simple Steps To Homeownership

Prysma is here to help you through the home buying process whether this is your first house or you are relocating to a new area. Here is the simple 4-Step process to owning your own home.



You speak with one of Prysma’s licensed Mortgage Loan Originators to get pre-qualified for a loan up to a certain amount. This amount helps you determine the price range for the home that is right for you. Our loan specialists will take the time to answer all of the questions you have to help ensure you choose the best loan option for your needs.


Find Your Home & Make An Offer

After pre-qualification you can begin shopping for your home. When looking at different home options, make sure to consider all the different factors including price, location and safety of the neighborhood. After you choose the property you make an offer and negotiate with the seller on the final sales price.


Loan Application

You have your home chosen and a sales price is determined you revisit with Prysma’s Mortgage Loan Originator to apply and secure the perfect loan for your new home. Your dedicated loan specialist will personally guide you through each step of the loan process.


Closing & Moving In

Once your offer has been accepted and you have been approved for your mortgage you prepare for closing and move into your new home!


Why Choose Prysma As Your FHA Loan Provider


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


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.

Ready To ExploreYour CT FHA Loan Options?