Your Trusted Boston, MA Mortgage Lender

Conventional Mortgage Loans in Boston

As the lender, Prysma is responsible for mortgaging all conventional loans as they are not backed by the government. This means that government agencies such as the Federal Housing Administration (FHA) and the Veterans Administration (VA) are not involved in the insuring of these loans. Prysma offers the following Boston conventional loan options:

● Fixed-Rate Loan: These are a top choice for a Boston homeowner who is interested in a loan with set month-to-month payments and financing. Our loan specialists will help you find and set a fixed loan rate based on your specific situation, and down payment amount. You won’t have to worry about wondering what your monthly rate will be, since it won’t change due to market or interest variables.

● Adjustable-Rate (ARM) Loan: ARM loans are a great option for someone who is looking to be a short term homeowner in Boston. These loan types start with a low rate during the existing period, and then differ determined by index rates and market conditions. It could be different from one month to the next, but an interest cap is set at the start of your Boston mortgage, limiting the maximum your rate can rise.

Non-Conventional Mortgage Loans in Boston

● Federal Housing Administration (FHA) Loan: The Federal Housing Administration (FHA) Loan is guaranteed by the government. It’s also insured by the government through your Boston, MA lender. We can offer you a better deal, such as one with a moderate down payment, reduced closing costs, or even a lower interest rate. In order to be a borrower, you must have lawful residency in the U.S., a valid Social Security number, and have steady employment history within the past two years.

● Tax ID Loan: The Tax ID Loan is a solid choice for Non-U.S. citizens who don’t hold a Social Security number, credit score, or Green Card. We are able to provide these loans to Boston, MA workers who currently have a valid passport and Individual Tax Identification Number (ITIN).

● Veterans Administration (VA) Loan: If you’re a military veteran interested in a mortgage loan, our VA loan options may be just what you need. When you compare these loans to conventional ones, several of our VA loans have lower interest rates and don’t require a down payment. When applying for these loans, you must provide proof of military service, proof that you haven’t been dishonorably discharged, and proof of your financials.

Mortgage Refinancing in Boston

Mortgage Refinancing Options: When you want to make adjustments to your monthly payments, refinancing is most common. To pay less through the lifetime of the loan or pay off the mortgage quicker, this can mean increasing or decreasing your interest rate or monthly payments. Our goal is to mold your Boston mortgage around your lifestyle and financial needs here at Prysma. Refinancing is often a helpful option for Boston homeowners.

Reverse Mortgage Options in Boston

Reverse Mortgage Options: This type of loan is great for homeowners over 62-years-old, who are interested in exchanging equity for cash. It’s a month-to-month payment that goes in your pocket when you choose to swap your part equity (ownership) of your home. This is an exceptional choice for retirees in need of additional income to survive each month. Also, the borrower isn’t required to repay it until the home is sold or left.

Our Connecticut Home Loan Office Locations

Prysma offers both unconventional and conventional mortgage loans in Boston and all throughout Massachusetts. We make this process convenient for you by offering all our services online and over the phone.

However, if you would like to stop by one of our locations, we have two offices available in Connecticut: