Your Trusted Freeport, NY Mortgage Lender

Conventional Mortgage Loans in Freeport

Here at Prysma, we provide all the mortgage funding for conventional loans since they are not backed or insured by the Federal Housing Administration (FHA) or the Veterans Administration (VA) and, therefore, lack government funding. We offer clients a number of conventional loan options including:

● Fixed-Rate Loan: If you have a steady monthly income and are looking to make a monthly mortgage payment, then the ideal option for you may be a fixed-rate loan. With this type of loan, you will receive a simple fixed rate and be required to make a down payment upfront and monthly payments thereafter. With a fixed-rate loan, your monthly payment remains the same throughout the life of the loan.

● Adjustable-Rate (ARM) Loan: If you are planning to buy a home in Freeport but only hold on to it for a short span of time, then our adjustable-rate (ARM) loan option may fit your needs. ARM mortgages offer buyers a lower rate during the initial period and then fluctuating rates that will differ from month to month and are dependent upon market conditions and index rates. However, there is a maximum rate increase that results from a negotiated cap that is put in place with this type of loan.

Non-Conventional Mortgage Loans in Freeport

● Federal Housing Administration (FHA) Loan: FHA (Federal Housing Administration) loans which are backed by the Federal Housing Administration government organization and insured by the lender are yet another mortgage loan option Prysma offers. We can offer you a better deal including a lower down payment, lower closing costs, and sometimes even lower interest rates. To qualify for this type of a loan, borrowers must have a valid Social Security number, lawful residency in the U.S. and a steady employment history within the two years prior to applying for the loan.

● Tax ID Loan: For home buyers who do not have a Social Security number, a Green Card or a credit score, a Tax ID loan would be the best choice for you. We offer Tax ID loans to borrowers who have a steady employment income and possess a passport and an Individual Tax Identification Number (ITIN).

● Veterans Administration (VA) Loan: For those individuals who are military, we offer Veterans Administration (VA) loans that typically require no down payment and additionally offer much lower interest rates than conventional loans. Proof of military service is required as well as confirmation of no dishonorable discharge and disclosure of previous financials.

Mortgage Refinancing in Freeport

Mortgage Refinancing Options: Prysma also offers mortgage refinancing. Whether you are looking to decrease interest rates, reduce monthly payments, adjust early mortgage payoff options or want to be able to pay less through the term of the loan, we have got you covered. We are steadfast in our commitment to meet the individual financial and lifestyle needs of all our valued clients.

Reverse Mortgage Options in Freeport

Reverse Mortgage Options: A reverse mortgage is an ideal option for those individuals over the age of 62 looking to exchange equity for cash in order to live month to month. With a reverse mortgage a homeowner no longer pays the monthly mortgage payment but rather exchanges their equity in the home and the lender pays the monthly payments instead. Homeowners make no payments to the lender until such time the home is either vacated or sold.

Our Connecticut Home Loan Office Locations

Here at Prysma Lending Group our team of dedicated Mortgage Loan Originators strive to deliver only the highest quality services to all our Freeport clients. We are steadfast in our efforts to meet the individual needs of our clients whether by way of conventional or unconventional loans. To get started with your loan process, contact one of our loan officers at either one of our Connecticut locations. You can also complete the loan process over the phone or online if you prefer.
For an in-person meeting with one of our Mortgage Loan Officers visit us at one of our two Connecticut locations: