Your Trusted Hamden, CT Mortgage Lender

Conventional Mortgage Loans in Hamden

There is no governmental financing, as conventional loans are not backed and insured by the Federal Housing Administration (FHA) or the Veterans Administration (VA). That means that the lender (us) is responsible for all mortgaging. Our Hamden conventional loan options at Prysma include:

● Fixed-Rate Loan: For a Hamden homeowner who is very steady month-to-month with payments and financing, these are perfect. Monthly payments will be discussed, in exchanged for a set down payment, and set at one simple fixed rate. From this, based on market and interest variables, you will not have to guess what your mortgage payment will be.

● Adjustable-Rate (ARM) Loan: For Hamden homeowners who are planning on keeping the house for a short term, ARM loans are great. During the determined initial period, these loans have a lower rate and will fluctuate depending on market conditions an index rates. On different months, your fate could be lower or higher, but an interest cap is negotiated and placed on your Hamden mortgage. This will then limit the maximum your rate can increase to.

Non-Conventional Mortgage Loans in Hamden

● Federal Housing Administration (FHA) Loan: Through your Hamden lender, the Federal Housing Administration is government-backed and will insure these loans. From this, we can offer you a better deal by possibly including a lower down payment, closing cost or interest rates. The qualifications of borrows are as follows: they must have a valid Social Security number, lawful residency in the U.S. and have steady employment history within the past two years.

● Tax ID Loan: For Non-US citizens who do not have a Social Security number, credit score, or Green Card; these loans are the right fit. For workers in the Hamden area, who have a passport and Individual Tax Identification Number (ITIN), we will offer loans.

● Veterans Administration (VA) Loan: Our VA loan options may be perfect for you if you’re a military veteran looking for a mortgage loan in Hamden. Our VA loans, for the most part, do not require money down and have very low interest rates compared to conventional loans. The requirements of this loan are: proof of military service, proof that you haven’t been dishonorably discharged and prior financials.

Mortgage Refinancing in Hamden

Mortgage Refinancing Options: When you want to make adjustments to your monthly payments, refinancing is usually used. In order to pay off the mortgage quicker or pay less through the lifetime of the loan, this can be increasing or decreasing your interest rate or monthly payments. Our main goal at Prysma is to mold your Hamden mortgage around your lifestyle and financial needs.For Hamden homeowners, refinancing is often a useful option.

Reverse Mortgage Options in Hamden

Reverse Mortgage Options: For homeowners over the age of 62 and looking to exchange equity for cash, a reverse mortgage loan is offered. You will exchange your part equity (ownership) of the home, instead of paying us monthly payments for your mortgage, and we will be paying you instead. For retirees looking for income to live on month-to-month this is popular. Until the home is sold or vacated, the borrower is not required to pay back the lender.

Our Connecticut Home Loan Office Locations

In the Hamden area and all throughout Connecticut, Prysma offers both conventional and unconventional mortgage loans. Each step can be accomplished over the phone or online, so you are not required to visit our offices to complete the loan process.

Feel tree to stop by one of our locations, as we have two Connecticut offices at: