Your Trusted Jamestown, NY Mortgage Lender

Conventional Mortgage Loans in Jamestown

Conventional loans are not backed by a government agency but do have specialized Fannie Mae and Freddie Mac rates. They provide potential homebuyers in the U.S. with standardized mortgage lending options.

● Fixed-Rate Loan: At Prysma Lending Group we offer fixed-rate loans that, unlike variable rate loans, have rates that never increase. They provide home buyers with fixed mortgage payments and fixed interest rates throughout the life of the mortgage loan.

● Adjustable-Rate (ARM) Loan: Prysma Lending Group also offers our Jamestown clients Adjustable Rate (ARM) loans. The rates on an ARM loan are adjusted during the term of the loan but will typically have a cap that serves to limit the amount of the rate increase. If you are planning to pay off your mortgage in advance of its term, or if the adjusted rates do not present a financial challenge for you, then an ARM loan may very well be the most practical loan option for you.

Non-Conventional Mortgage Loans in Jamestown

● Federal Housing Administration (FHA) Loan: Unconventional mortgage loans, such as Federal Housing Administration (FHA) loans are a popular loan option for many first-time home buyers. They are guaranteed by the government and have government-provided insurance through the lender. To apply for an FHA loan, potential buyers must meet certain criteria. They must (1) be a US citizen with lawful residence here in the U.S; (2) have a valid Social Security number; and (3) have a two-year steady employment record in advance of the loan application. FHA loans offer home buyers a number of features including moderate payments, lower interest rates, and reduced closing costs.

● Tax ID Loan: For those potential homebuyers who are not U.S. citizens, have no Social Security number, do not possess a valid credit score or have a Green Card, but do have in their possession a current passport and or a Tax Identification Number (ITIN), at Prysma we recommend for loan eligibility, a Tax ID loan.

● Veterans Administration (VA) Loan: Finally, here at Prysma we offer our dedicated service members, veterans, and any eligible surviving spouses of service members, Veterans Administration (VA) Loans. Whether building, purchasing, repairing, retaining, or adapting a home specific to the needs of personal occupancy, the team here at Prysma is on hand to provide home loan guarantee benefits or any other housing-related programs our military clients may need, and oftentimes can provide favorable terms to borrowers.

Mortgage Refinancing in Jamestown

Mortgage Refinancing Options: If you are an existing Jamestown homeowner looking to access the equity in your home, obtain a lower rate or reduce your monthly payment, the team here at Prysma is on hand to provide you with top-rated mortgage refinancing options. Our team is steadfast in our commitment to provide clients with a mortgage that suits their financial needs as well as their lifestyle.

Reverse Mortgage Options in Jamestown

Reverse Mortgage Options: For individuals over the age of 62 looking to supplement their income, perhaps pay off their mortgage, or even have a need to pay for a variety of healthcare expenses, it may be in your best interest to consider Reverse Mortgage. A Reverse Mortgage provides you with means of converting the equity in your home into cash and all without having to sell your home or incur additional monthly payments. Here at Prysma, our loan specialists are on hand to answer all your questions with regard to a Reverse Mortgage and determine whether or not this complicated loan option is right for you, keeping in mind that when you use the equity in your home, there are fewer assets available to you and to your heirs as well.

Our Connecticut Home Loan Office Locations

Here at the Prysma Lending Group, we take pride in the thousands of Jamestown, NY families we have helped to realize their homeownership dreams. Our company has grown consistently since 2003 because of our simple mission statement of always doing right by our clients and assisting them in choosing the appropriate mortgage for their specific needs. Our skilled team of loan specialists ensures that all families are in a position to comfortably afford their mortgages and not have to be faced with financial challenges. We offer clients two office locations where we can serve you or else clients can choose to go through the process over the phone or online at our website. Whatever your choice, we are definitely the team for you!
Our two Connecticut offices are conveniently located at: