Your Trusted Mount Vernon, NY Mortgage Lender

Conventional Mortgage Loans in Mount Vernon

Conventional loans are not backed or insured by a government agency such as the Federal Housing Administration (FHA) or the Veterans Administration (VA). The lender funds the mortgage, in this case, is us here at Prysma, in which we offer two options of conventional loans, including fixed-rate and adjustable-rate loans:

● Fixed-Rate Loan: The fixed-rate loans require a down payment and monthly payments to be made by a borrower with a simple fixed rate. The fixed-rate loan is popular because the borrower is able to make the same payment every month.

● Adjustable-Rate (ARM) Loan: Adjustable-Rate Loans are a type of mortgage loan that starts with a lower rate during the initial period of the loan and then fluctuates based on index rates and market conditions. ARM loans will have a negotiated cap that will limit the maximum amount that the rate can increase. Mount Vernon clients can get an ARM loan if they are homeowners that only want to keep their homes for a short amount of time.

Non-Conventional Mortgage Loans in Mount Vernon

● Federal Housing Administration (FHA) Loan: FHA (Federal Housing Administration) loans are unconventional loans that are backed by the Federal Housing Administration government agency. Even though the loans are government-backed, they are insured by the lender, which is Prysma. Prysma can offer you an even better deal, which may include a lower down payment, lower closing costs, or even lower interest rates. To obtain this type of loan, the borrowers must have a valid Social Security number, lawful residency in the U.S., and a steady employment history within the past two years.

● Tax ID Loan: A Tax ID Loan is a great loan option for potential homeowners that do not have a Social Security number, a credit score, or a Green Card. Prysma will offer this type of loan to those who are employed, have a passport and an Individual Tax Identification Number (ITIN).

● Veterans Administration (VA) Loan: The Veterans Administration (VA) loans are offered to our valued military clients, and this unconventional type of loan is backed by the VA. Most of the VA loans that are offered do not require a down payment and also offer lower interest rates than conventional loans. To obtain the VA loan, proof of military service, disclosure of prior finances, and confirmation of no dishonorable discharge are required.

Mortgage Refinancing in Mount Vernon

Mortgage Refinancing Options: Mortgage refinancing options are available for existing homeowners in Mount Vernon who want to reduce monthly mortgage payments, have lower loan rates or have access to their home equity. Prysma will offer specialized mortgage refinancing options based on your personal financial needs to allow you more financial freedom.

Reverse Mortgage Options in Mount Vernon

Reverse Mortgage Options: Reverse mortgage options are here for homeowners in Mount Vernon that want to reduce their monthly mortgage payments or reduce their interest rates. Our mortgage loan originators will discuss your refinancing options. Reverse mortgages allow you to choose the best option that fits your financial and lifestyle needs by exchanging home equity for cash.

Our Connecticut Home Loan Office Locations

Prysma Lending Group has an entire team of dedicated loan specialists that have helped thousands of clients obtain their homeownership status. We have earned ourselves a spot on the marketplace charts since 2003 as one of the best all-around home loan lending groups serving New York and Connecticut. Our team strives to keep our clients as our top priority by assisting them through decision making, and home buying. In addition, the specialists work so that all our Mount Vernon clients can comfortably afford the mortgages without financial challenges. At our two locations in Danbury and Bridgeport, CT, our team is ready to meet your mortgage needs.
Visit us at our two Connecticut offices which are located at: