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Fixed-Rate vs. Adjustable-Rate: Which Loan is Right For Me?
The home mortgage process usually begins by narrowing down the best home loan for your needs. You probably started your search by learning about the difference between conventional loans and unconventional loans and now you’re in the dilemma of choosing between the two types of Conventional Loans: a fixed-rate mortgage or an adjustable-rate mortgage. You may be tempted to fall into a fixed-rate, because it’s often viewed as the safest mortgage option for first time home buyers. Before you pick a home loan on an impulse, you should ask yourself: is it really the most appropriate option for my future?...
read moreWhat to Look For in a Mortgage Loan Officer
Whether you’re shopping around for the best home mortgage or looking for the right time to refinance your home loan, there should be an individual right beside you throughout the entire process. This will be your loan officer, and they’ll help you determine the right loan for your current situation. The task of finding the right loan officer will arrive after you’ve determine the best lender for you. There are a few different factors that go into finding a mortgage professional through your home journey. Off the bat, you should figure out if their skill set go hand in hand...
read moreHome Walk-Through Checklist: What To Prepare For
Here at Prysma, we specialize in providing you the best options for home mortgages and refinancing, but we also want to make sure that the home you choose is up to par. Once you’ve made it through the mortgage process and you’re ready to close on your home, you need to make sure a few things are in order. A final walk-through is not technically a home inspection, and it’s not a chance to make negotiations with the seller for any repairs. At this point, you’re simply double-checking everything that is in your agreement and that any agreed-upon repairs...
read moreWhen Is the Right Time to Apply for a Reverse Mortgage?
You have worked hard for most of your life to build your home equity. In fact, you home is most likely your largest asset. If you are over the age of 62 with a small amount of debt to be paid on your mortgage and looking to enjoy your retirement with less financial stress and more freedom, a reverse mortgage might be right for you. How Reverse Mortgages Work A reverse mortgage converts a portion of your home’s equity into cash. Your age, the current interest rate, the value of your home and value of your current...
read moreWhen Should You Refinance Your Mortgage?
Refinancing your mortgage essentially means that you are taking an existing loan and replacing it with a new one. This action could come about for a few different reasons. You might of just got a raise in your salary or you simply find that your current mortgage isn’t working out the way you hoped. Or you may find that your current interest rate is too high and you fear that it will cause long-term debt. Overall, each homeowners financial situation is different, but refinancing a mortgage can be customizable to your specific needs. Adjustable-Rate (ARM) loans are typically associated with...
read moreConventional Loans & Unconventional Loans: What’s the Difference?
It doesn’t matter if you’re buying your first home or your fourth home, every homeowner will have to answer the daunting question: What home loan do I choose? The first step you can take is to learn about two basic home loans, conventional and unconventional. Both loan types will have their own advantages and disadvantages to the borrower. To help you get started, we’ll guide you through the differences of these two popular home loans. What Are Conventional Loans? Conventional loans are not secured by an established government program like the Federal Housing Administration (FHA), Department of Agriculture (USDA)...
read moreHow to Get a Home Mortgage with a Tax ID (ITIN) Number
Contrary to popular belief, it’s possible to get a mortgage without a social security number or legal status in the U.S. In fact, the U.S. is one of the only countries that allows non-citizens to obtain property. The house purchasing process is a lot more nuanced to get through, but it’s possible. We want to help you accomplish your dreams of being a homeowner. Read on to learn more about how to receive a home mortgage with your ITIN number. What Is An ITIN Number? If you’ve never heard of this term before, you should know that an ITIN...
read moreWe are HIRING!
Prysma has an IMMEDIATE opening for a Mortgage Loan Processor. Come work with one of the fastest growing companies in Connecticut. Great workplace atmosphere, fast pace environment. send in your resume to jobs@prysma.com Job Purpose: Serves customers by preparing mortgage loan requirements. Works alongside Sales Manager and Underwriters Duties: * Prepares mortgage loan file by reviewing loan application; clarifying or obtaining additional information. * Confirms mortgage loan application information by mailing verification forms; contacting verification sources. * Obtains mortgage loan documentation by ordering credit report, land survey, building appraisal, title, and related information. * Identifies mortgage loan application and...
read morePrysma is HIRING!!! Bridgeport, CT
Our Office in Bridgeport, CT has an open position for a Receptionist/Office Assistant. ***Candidates must be fluent in Spanish.*** Serves visitors by greeting, welcoming, and directing them appropriately; notifies company personnel of visitor arrival; assists Mortgage Loan Originators with various tasks. ***Must be able to work efficiently in a fast pace environment Receptionist Job Duties: Welcomes visitors by greeting them, in person or on the telephone; answering or referring inquiries. Directs visitors by maintaining employee and department directories; giving instructions. assists Mortgage Loan Originators with various tasks related to the loan. Maintains telecommunication system by following manufacturer’s instructions for house phone...
read morePrysma’s Bridgeport branch.
Prysma’s Bridgeport branch opening on April 2nd! Prysma is expanding its operations to the Bridgeport area to better serve our clients from surrounding cities/towns. The office is currently under renovation and will be ready for business during the first week of April. We look forward to invite you to get to know our new facilities soon (the sign is already up)! ...
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