Your Trusted Tampa, FL Mortgage Lender

Conventional Mortgage Loans in Tampa

There is no direct governmental financing for conventional loans. They are either insured by the Federal Housing Administration (FHA) or the Veterans Administration (VA). Mortgaging is then handled by Prysma. The following are the conventional loan options we have:

● Fixed-Rate Loan: If you are a Tampa homeowner looking to do fixed monthly payments, then this is the best option for you. For a fixed-rate loan, you put a set down payment for the investment and then after monthly payments are discussed, we are able to establish a fixed monthly rate for you. Fixed-rates always stay the same and never change.

● Adjustable-Rate (ARM) Loan: In the case of looking to keep your Tampa home for only a short period of time, then having an adjustable-rate loan is the better option. To start, these loans have a lower rate and then, based upon index rates and market conditions, will then fluctuate. An interest cap is usually set at the beginning and then applied to your Tampa, FL mortgage. This will, overall, limit the maximum rate it can increase to.

Non-Conventional Mortgage Loans in Tampa

● Federal Housing Administration (FHA) Loan: Government-backed Federal Housing Administration loans are offered by Prysma. As your Tampa lender, the deals we can offer are a lower down payment, lower closing costs, or lower interest rates. However, there are some requirements for a FHA loan which are: lawful residency in the U.S., a Social Security number and a steady two-year employment history.

● Tax ID Loan: If you are located within the Tampa area, but are a Non-US citizen and do not possess either a Social Security Number, Green Card or credit score then this loan is better suited for you. All you need to have is a passport and an Individual Tax Identification Number (ITIN).

● Veterans Administration (VA) Loan: Military veterans who live in Tampa are eligible for our Veterans Administration (VA) loans. Most of the time, these loans do not require a downpayment and have very low interest rates. If you are interested in a VA loan, then you will require: proof of your military service, proof that you have not been dishonorably discharged and prior financial records.

Mortgage Refinancing in Tampa

Mortgage Refinancing Options: In the case of you wanting to change your monthly payments or interest rate while already being in possession of a mortgage, we also offer refinance options at Prysma. If you choose to refinance with us, then we will consider your family’s needs and financial situation in order to figure out the plan that best suits you. End results may include your Tampa mortgage being paid faster or the cost of it lessening throughout the duration of the loan period.

Reverse Mortgage Options in Tampa

Reverse Mortgage Options:Reverse mortgage is the better option for you, if you are a homeowner over the age of 61 and are looking to increase your monthly income. By using your existing equity, a reverse mortgage allows for you to have a regular monthly payment. Cash is exchanged for a portion of your home’s equity each month, which means that we will pay you instead of the latter. This money only needs to be repaid once the home is sold or vacated.

Our Connecticut Home Loan Office Locations

Our team at Prysma offer conventional and unconventional mortgage loans in Tampa and all throughout Florida. An office visit is not necessary to complete the loan process either, every step can be done over the phone or online.
Our two Connecticut offices are located at: