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Prysma is the Cambridge, MA area’s trusted lender for all of your conventional & unconventional loan needs.
Prysma has helped thousands of families successfully navigate the path to owning their own home.
Our dedicated mortgage loan experts will explain the best loan options, loan rates, and any other specific questions you may have.
If you would rather meet with one of our experts in person to learn more about our services, we have two offices available at:
To start your new and exciting journey to homeownership, fill out the form to the left, or call us today at: (203) 743-9985.
Conventional Mortgage Loans in Cambridge
Conventional loans aren’t supported and insured by the Federal Housing Administration (FHA) or the Veterans Administration (VA). Since the government doesn’t assure backing, we are responsible for all mortgaging. These are our conventional loan choices offered at Prysma:
● Fixed-Rate Loan: If you would like to have fixed monthly payments for your Cambridge, MA mortgage loans, then a fixed-rate loan would be a good choice for you. To obtain this loan, you provide a set down payment as part of the investment. We discuss monthly payments to establish a fixed monthly rate. Since it’s a fixed-rate, it never fluctuates as a result of market or interest variables.
● Adjustable-Rate (ARM) Loan: ARM loans are practical for homeowners in Cambridge, MA planning to keep their house for a short amount of time. These loans have a lower rate at the beginning of the period, and vary depending on index rates and market conditions. An interest cap is set at the beginning and put on your Cambridge, MA mortgage, limiting the highest your interest rate can reach.
Non-Conventional Mortgage Loans in Cambridge
● Federal Housing Administration (FHA) Loan: Prysma, your Cambridge lender, also offers government-backed Federal Housing Administration insures FHA loans. Prysma can offer you a better deal possibly including a lower down payment, lower closing costs, or lower interest rates. In order to go the route of an FHA loan you will need a Social Security number, lawful residency in the U.S., and a steady two-year employment history.
● Tax ID Loan: These loans are a good idea for Non-US citizens in the Cambridge area who do not have a Social Security number, Green Card, or credit score. If you have a passport and Individual Tax Identification Number (ITIN), you might be eligible for a Tax ID loan.
● Veterans Administration (VA) Loan: Cambridge military veterans are eligible for our Veterans Administration (VA) loans. Most of our VA loans don’t require a downpayment and have very low interest rates as compared to conventional loans. To take out a VA loan, you will need to provide us with proof of military service, proof that you haven’t been dishonorably discharged, and prior financial records.
Mortgage Refinancing in Cambridge
Mortgage Refinancing Options: If you already have a mortgage but would like to make changes to your monthly payments or interest rate, a refinance option with Prysma may best for you. When you refinance with us, you may be able to pay off your Cambridge mortgage faster or pay less throughout the entire loan period. We will consider your family’s needs and financial situation to best suit your experience.
Reverse Mortgage Options in Cambridge
Reverse Mortgage Options: Homeowners who are over the age of 62 and are looking to increase their monthly income might find that a reverse mortgage option is the best way to go. Reverse mortgages use your existing equity to give you a regular monthly payment. You exchange a portion of the equity in your home each month for cash. Instead of you having to pay us each month, we pay you. The money only has to be repaid when the home is sold or vacated.
Our Connecticut Home Loan Office Locations
Prysma offers both Conventional and Unconventional Mortgage Loans in Cambridge and all throughout Massachusetts. You don’t have to visit our offices to complete the loan process, as each step can be accomplished over the phone or online.
However, if you would like to stop by one of our locations, we have two Connecticut offices:
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 throughout Cambridge, MA
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.