Your Trusted Elmont, NY Mortgage Lender

Conventional Mortgage Loans in Elmont

Conventional mortgage loans are a common type of loan that is not backed or insured by any government agency such as the Federal Housing Administration (FHA) or the Veterans Administration (VA). As the lender, Prysma is responsible for the mortgage funding offering a variety of conventional loan options, including:

● Fixed-Rate Loan: A fixed-rate loan requires the borrower to make a down payment and then make continuous monthly payments that are calculated with a simple fixed rate. A fixed-rate loan allows you to make the same mortgage payment month after month.

● Adjustable-Rate (ARM) Loan: Adjustable-Rate (ARM) Loans are mortgage loans offered that will start out with a lower rate then will fluctuate based on the index rates and market conditions, which means the rate will increase or decrease monthly. Adjustable-Rate loans are the best options for Elmont homeowners that only plan on keeping their homes for a short period.

Non-Conventional Mortgage Loans in Elmont

● Federal Housing Administration (FHA) Loan: FHA (Federal Housing Administration) loans are backed by the Federal Housing Administration government agency, unlike conventional loans. Even though the government backs the unconventional loans, Prysma will still insure the loan. Prysma can find a better deal that can include but is not limited to lower down payments, lower closing costs, and also lower interest rates. Borrowers are required to have a valid social security number, lawful residency in the U.S., and display a steady employment history within the past two years to be eligible for FHA loans.

● Tax ID Loan: Tax ID loans are an excellent option for our potential borrowers that do not have a social security number, credit score, or a Green Card. Prysma is able to offer these borrowers a Tax ID loan if the borrower is employed, has a passport and an individual tax identification number (ITIN).

● Veterans Administration (VA) Loan: Prysma offers Veterans Administration (VA) loans to our valued military clients. VA loans require no down payment and much lower interest rates compared to the typical conventional loans. Borrowers applying for VA loans must give proof of military service, disclosure of prior financials, and must confirm that there has been no dishonorable discharge to be eligible for the VA loan.

Mortgage Refinancing in Elmont

Mortgage Refinancing Options: Mortgage refinancing options are available for our existing homeowners in Elmont that want to reduce their monthly mortgage payments, lower loan rates, and want to access the equity in their homes. Here at Prysma, we can offer specialized mortgage refinancing options that are able to fit your lifestyle and assist with your individual financial needs.

Reverse Mortgage Options in Elmont

Reverse Mortgage Options: If you are a homeowner in Elmont and want to reduce your monthly mortgage payment or interest rate, you can meet with one of our loan specialists to discuss our mortgage refinancing options. Our specialists will work closely with you to ensure that you choose the best option for your financial needs.

Our Connecticut Home Loan Office Locations

Prysma Lending Group has a strong team of loan officers who have helped so many Elmont borrowers achieve their homeownership status. We are proud to say that we have earned ourselves a spot on the marketplace chart since 2003 and have one of the best all-around home loan lending groups. We serve both New York and Connecticut, making our clients the number one priority while working to assist in decision-making for applying and obtaining mortgage loans. Through our years of experience, we will continue to enjoy our marketplace presence today by helping our clients with all their financial needs. Our specialists ensure that clients can afford their mortgages without the struggle of economic challenges brought on by more loans or varying interest rates. We have two locations in Connecticut for our clients’ convenience, where our team of skilled loan specialists is ready to meet your financial needs. Today, reach out to our team to be helped by our specialists in person at one of our offices.If you would like to have a meeting with one of our Mortgage Loan specialists, visit us at one of our two Connecticut locations: