Your Trusted New Rochelle, NY Mortgage Lender

Conventional Mortgage Loans in New Rochelle

Conventional loans are not backed or insured by a government organization such as the Federal Housing Administration (FHA or the Veterans Administration (VA). Our team here at Prysma is the lender and is fully responsible for funding and we offer a number of conventional loan options.

● Fixed-Rate Loan: A fixed-rate loan requires the borrower to make a down payment and then make monthly payments that are calculated based on a simple fixed rate. With a fixed-rate conventional loan, you will make the same exact mortgage payment each month.

● Adjustable-Rate (ARM) Loan: Adjustable-Rate (ARM) loans are a type that starts with a lower rate during the initial period and then fluctuates based on the index rates and market conditions. ARM loans are required to have a negotiated cap that will limit the maximum increase of the rate. ARM loans are best for our New Rochelle homeowners that plan to have their homes for a short period of time.

Non-Conventional Mortgage Loans in New Rochelle

● Federal Housing Administration (FHA) Loan: FHA (Federal Housing Administration) loans are backed by the Federal Housing Administration government organization. These unconventional loans are government-backed but are insured by the lender. As a result, Prysma, the lender, can offer you a better deal, including 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: Tax ID loan is the right choice for those potential homeowners who do not have a Social Security number, a credit score, or a Green Card. In addition, Prysma offers loans to those clients that are employed and have a passport and an Individual Tax Identification Number (ITIN).

● Veterans Administration (VA) Loan: Veterans Administration (VA) loans are offered by Prysma to our valued military clients. VA loans allow for no down payments and offer much lower interest rates compared to the conventional style of loan, which will save more money. VA loans require proof of military service, disclosure of personal finances, and confirmation that there was no dishonorable discharge.

Mortgage Refinancing in New Rochelle

Mortgage Refinancing Options: Mortgage refinancing options are available for existing homeowners in New Rochelle who would like to reduce their monthly mortgage payments, have lower loan rates or have access to their home equity. Prysma specialists will offer mortgage refinancing options based on your personal financial needs.

Reverse Mortgage Options in New Rochelle

Reverse Mortgage Options: Reverse mortgage options are here for homeowners in New Rochelle that want to reduce their monthly mortgage payments or reduce their interest rates. Our mortgage loan originators will discuss your refinancing options and the reverse mortgage. 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’s team of loan specialists has helped thousands of clients find their dream home and get mortgage loans that helped their families or individual needs. We have earned ourselves a spot on the marketplace charts since 2003 as one of the best all-around home loan lending groups serving our clients. Our clients stay our top priority so that our specialists can assist them throughout their mortgage process. With our two locations in Connecticut, our team is ready to meet your mortgage needs for the New Rochelle area.
Get started today at one of our two Connecticut offices to get your mortgage options that are located at: