Conventional Mortgage Loans in Florida

Conventional loans aren’t backed and insured by the Federal Housing Administration (FHA) or the Veterans Administration (VA). Basically, since there isn’t any government financing, the lender (us) is liable for all mortgaging. Here are our Florida conventional loan options at Prysma:

● Fixed-Rate Loan: These are ideal for the Florida homeowner who favors consistent monthly payments and financing. In exchange for a certain down payment cost, monthly payments are discussed and priced at a single fixed rate. You won’t have to try to figure out what your mortgage will cost based on market and interest variables.

● Adjustable-Rate (ARM) Loan: ARM loans are great for homeowners in Florida that plan to retain their home for a brief period of time. These loans have a lower rate through the initial period and then fluctuate according to index rates and market conditions. Your rate could possibly be more or less across different months, but an interest cap is determined at the start and put on your Florida mortgage, limiting the maximum your rate can climb.

Non-Conventional Mortgage Loans in Florida

● Federal Housing Administration (FHA) Loan: The Federal Housing Administration is backed by the government and insures these loans through your Florida lender. We can propose you a better wager perhaps one with a moderate down payment, lower closing cost, or reduced interest rates. Borrowers must possess a valid Social Security number, lawful residency in the U.S. and have continuing employment history within the previous two years.

● Tax ID Loan: This type of loan is a good fit for Non-U.S. citizens who do not possess a Social Security number, credit score, or Green Card. We offer loans to Florida workers who possess a passport and Individual Tax Identification Number (ITIN).

● Veterans Administration (VA) Loan: If you’re a military veteran trying to find a mortgage loan in Florida, our VA loan selections may be right for you! When compared to conventional loans, many of our VA loans have lower interest rates and don’t need a down payment. The conditions for this loan include proof of military service, evidence that you haven’t been dishonorably discharged, and past financials.

Mortgage Refinancing in Florida

Mortgage Refinancing Options: Refinancing is frequently used when a homeowner would like to adjust their monthly payments. It can either increase or decrease your interest rate or monthly payments to pay off your mortgage quicker or pay less over the loan’s lifetime. At Prysma, we strive to make your Florida mortgage fit your lifestyle and financial requirements. Refinancing is extremely useful for Florida homeowners.

Reverse Mortgage Options in Florida

Reverse Mortgage Options: A reverse mortgage loan is meant for homeowners who are over 62-years-old and willing to swap equity for cash. Instead of making month-to-month payments on your mortgage, you exchange your part equity (ownership) of your home and receive a monthly payment for it. This is an attractive option for retirees needing income to survive on a monthly basis. The borrower isn’t required to repay the lender until the home is vacated or sold.

Our Florida Home Loan Office Locations

Prysma extends both conventional and unconventional mortgage loans in Florida and all throughout the state of Connecticut. You are not required to visit our physical location to complete the loan process as it can be prepared online or via the phone.
However, if you would like to visit our physical offices, we currently have two offices in Connecticut: