Valley Stream, NY FHA Loans | CT FHA Lender

Prysma has been able to assist thousands of individuals and families throughout Connecticut, New York, Massachusetts, and Florida as the #1 FHA loan source provider. Prysma Lending Group is able to assist with FHA loans and refinancing options for first-time homeowners.

Our team of mortgage loan originators, will work closely with you to find the best rates and options for your individual financial needs. We strive to help you meet your dreams for homeownership in Valley Stream and surrounding areas.

Fill out the form on our website or give us a call at 855-513-8374 to find the right loan option for you!

Pre-qualification

The first step during the homeownership process is to work with one of Prysma’s mortgage loan originators who are fully licensed to get you pre-qualified for your loan. Loans will be determined based on your financials for up to a specified amount. The amount will help you determine the price range for your potential new home that you are searching for. Our loan originators are ready to answer any of your questions to ensure that you are picking the right loan option.

Find Your Home & Make An Offer

Once you get pre-qualified for your loan, you can begin searching for the home of your dreams. There are many different options for homes in Valley Stream, but it is important to consider factors such as price, location, and even safety of the neighborhood. When you decide that you have found the perfect house and location, you will make an offer to the seller. The seller might negotiate with you to determine the final sale price of the home.

Loan Application

Now that you have found your dream home and put in an offer, you will need to meet with your mortgage specialist to start the application process and secure the loan for your brand new home. We know that the applications and paperwork can be confusing which our mortgage loan originator will guide you through the loan application process. Our originators can answer any questions you may have towards this process.

Closing & Moving In

The final step to the four step process is to move into your new home! During this phase, your loan and mortgage has been approved and closing on your house will begin. After closing on the home, you can pack up and finally move into your new Valley Stream home.

Conventional Mortgage Loans in Valley Stream

There is no government financing for The Federal Housing Administration (FHA) or the Veterans Administration (VA) loans offered, nor do they back or insure the loans. The lender is responsible for the financing and mortgaging. Our Prysma conventional loan options are:

● Fixed-Rate Loan: This type of loan is excellent for the Valley Stream homeowner that is organized and reliable to make month-to-month payments. A set fixed rate determines the monthly payment amount in exchange for a set down payment. The market and interest variables do not impact your payments and financing for paying the mortgage.

● Adjustable-Rate (ARM) Loan:For Valley Stream homeowners who are planning on keeping the house for only a short period of time, ARM loans are a perfect option. ARM loans have a lower rate during the initial period but are fluctuating based on the market conditions and index rates. Your rate could be lower or higher on different months but limits the maximum amount the rate can increase. When the ARM loan is determined, an interest cap will be negotiated and placed on your mortgage.

Non-Conventional Mortgage Loans in Valley Stream

● Federal Housing Administration (FHA) Loan: Federal Housing Administration offers FHA loans backed by the government and insured through the Lender. FHA loans have lower down payments, lower closing costs, and even lower interest rates. The lender can offer you a better deal. Still, borrowers must have lawful residency in the U.S., a valid Social Security number, and a steady employment history within the past two years.

● Tax ID Loan: Borrowers with a passport and Individual Tax Identification Number (ITIN) can still be offered a loan even if they are non-US citizens. The borrower does not have to have a social security number, credit score, or green card.

● Veterans Administration (VA) Loan: Veterans looking for a mortgage loan in Valley Stream can apply for a VA loan that includes lower interest rates compared to conventional and no need for a down payment. The veteran must show proof of military service, no dishonorable discharge, and other financial information.

Mortgage Refinancing in Valley Stream

Mortgage Refinancing Options: Refinancing options here at Prysma offer adjustments to your monthly payments. The adjustments can include increasing or decreasing interest rates or monthly payments to pay less throughout the loan or pay off the loan more rapidly. With mortgage refinancing, we want to offer options for our borrower’s lifestyles and financial needs to better your financial situation.

Reverse Mortgage Options in Valley Stream

Reverse Mortgage Options: Reverse mortgage options are great for homeowners over the age of 62 and want to exchange their current equity for cash. The exchange comes with the ownership of the home, and Prysma pays you rather than paying monthly payments for the mortgage. The borrower does not have to make payments until the house is vacated and sold. The cash is an excellent line for another form of income monthly for retired borrowers.

Our Connecticut Home Loan Office Locations

Prysma Lending Group offers both conventional and unconventional mortgage loans in Connecticut and New York. Each step of our process will be guided by one of our loan specialists to assist you in any way possible. You can work with us over the phone, online, and in person.
Our office locations are here at your convenience to meet with us at one of our Connecticut offices at:

18 Padanaram Rd, Danbury, CT

4750 Main St, Bridgeport, CT