Your Trusted Hempstead, NY Mortgage Lender

Conventional Mortgage Loans in Hempstead

Conventional mortgage loans are funded by Prysma because they are not funded or insured by the Federal Housing Administration (FHA) or the Veterans Administration (VA). We offer a number of conventional loans including:

● Fixed-Rate Loan: This loan allows individuals with a secure consistent monthly income to make the same mortgage payment month after month throughout the life of the loan and enjoy a fixed-rate on the loan.

● Adjustable-Rate (ARM) Loan: An ARM loan is beneficial to those buyers who plan to live in the home for a short time only. They present a lower rate during the initial period and fluctuating rates month to month thereafter. The fluctuating rates are based on index rates and market conditions but these ARM loans do come with a negotiated cap.

Non-Conventional Mortgage Loans in Hempstead

● Federal Housing Administration (FHA) Loan: Many first-time home buyers can benefit greatly with an FHA (Federal Housing Administration) loan which is backed by the Federal Housing Administration and insured by Prysma. FHA loans have a vast number of benefits from lower down payments and lower closing costs to lower interest rates. In order to qualify for an FHA loan, however, a potential buyer must have a valid Social Security number, lawful residency in the U.S. and a steady employment income over the past two years.

● Tax ID Loan: If a potential buyer does not have a Social Security number, a Green Card or a credit score then a Tax ID loan may be the best way to go. Borrowers must provide proof of an employment income and must possess both a passport and an Individual Tax Identification Number (ITIN).

● Veterans Administration (VA) Loan: Military personnel can take advantage of our affordable Veterans Administration (VA) Loans. VA loans require no down payment and offer military borrowers much lower interest rates than conventional loan rates. Military personnel will need to provide proof of military service, confirmation of no dishonorable discharge, and previous financial records.

Mortgage Refinancing in Hempstead

Mortgage Refinancing Options: Oftentimes Hempstead homeowners find themselves faced with the need to refinance. Whether to lower their monthly mortgage payments or decrease their rate, here at Prysma Lending Group we have got you covered with our mortgage refinancing options.

Reverse Mortgage Options in Hempstead

Reverse Mortgage Options: Homeowners over the age of 62 who are in need of cash and are looking to exchange equity in their homes for cash can rely on the reverse mortgage options we offer here at Prysma. With these option, the homeowner no longer pays the monthly mortgage payment to the lender. Instead, the lender makes the monthly payment in exchange for the equity in the home with no payments being due until such time the home is either sold or vacated.

Our Connecticut Home Loan Office Locations

Here at Prysma Lending Group, we have two Connecticut locations to serve all our valued clients. Our dedicated team of Mortgage Loan Originators is on hand to help individuals find and purchase their dream home in Hempstead. We offer both conventional and unconventional loans that are designed to meet with the individual and financial needs of potential home buyers. To schedule an appointment with one of our skilled loan officers or to receive more information about our services and loan options, contact one of our team. You can complete the entire loan process over the phone, online, or call and schedule an in-person appointment today.
For an in-person meeting with one of our Mortgage Loan Officers visit us at one of our two Connecticut locations: