Your Trusted Danbury, CT Mortgage Lender

Conventional Mortgage Loans in Danbury

Conventional loans aren’t backed and insured by the Federal Housing Administration (FHA) or the Veterans Administration (VA). This means that since there is no governmental financing, the lender (us) is responsible for all mortgaging. These are our Danbury conventional loan options at Prysma:

● Fixed-Rate Loan: These are perfect for a Danbury homeowner who is very steady month-to-month with payments and financing. In exchange for a set down payment, monthly payments per month will be discussed and set at one simple fixed rate. This way you don’t have to guess what your mortgage payment will be based on market and interest variables.

● Adjustable-Rate (ARM) Loan: ARM loans are great for Danbury homeowners who are planning on keeping the house for a short term. These loans have a lower rate during the determined initial period, and then fluctuate depending on market conditions and index rates. This means that your rate could be lower or higher on different months, but an interest cap is negotiated and placed on your Danbury mortgage, limiting the maximum your rate can increase.

Non-Conventional Mortgage Loans in Danbury

● 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: These loans are the right fit for Non-US citizens who do not have a Social Security number, credit score, or Green Card. We offer loans to workers in the Danbury who have a passport and Individual Tax Identification Number (ITIN).

● Veterans Administration (VA) Loan: If you’re a military veteran looking for a mortgage loan in Danbury, our VA loan options may be perfect for you! Most of our VA loans don’t require money down, and have very low interest rates compared to conventional loans. All this loan requires is proof of military service, proof that you haven’t been dishonorably discharged, and prior financials.

Mortgage Refinancing in Danbury

Mortgage Refinancing Options: Refinancing is usually used when you want to make adjustments to your monthly payments. This can be increasing or decreasing your interest rate or monthly payments to pay off the mortgage quicker or pay less through the lifetime of the loan. At Prysma, we aim to mold your Danbury mortgage around your lifestyle and financial needs. Refinancing is often a useful option for Danbury homeowners.

Reverse Mortgage Options in Danbury

Reverse Mortgage Options: A reverse mortgage loan is for homeowners over the age of 62 and looking to exchange equity for cash. Instead of paying us monthly payments for your mortgage, you exchange your part equity (ownership) of the home and we pay you instead. This is popular for retirees looking for income to live on month-to-month. The borrower isn’t required to pay back the lender until the home is sold or vacated.

Our Connecticut Home Loan Office Locations

Prysma offers both conventional and unconventional mortgage loans in Greater Danbury and all throughout Connecticut. You are not required to visit our offices to complete the loan process as each step can be accomplished over the phone or online.
However, if you would like to stop by one of our locations, we have two Connecticut offices: