Your Trusted Hartford, CT Mortgage Lender

Conventional Mortgage Loans in Hartford

The Federal Housing Administration (FHA) or the Veterans Administration (VA) backs and insures Conventional loans. This means that since there is no governmental financing; instead, Prysma, the lender, is responsible for all mortgaging. Here are the Hartford conventional loan options at Prysma:

● Fixed-Rate Loan: Fixed-Rate Loans are an excellent option for a Hartford homeowner who is reliable with steady month-to-month with payments and financing. In exchange for a predetermined down payment, your monthly payments will be discussed and set at one simple fixed rate. This way, there’s no guessing what your mortgage payment will be based on market and interest variables.

● Adjustable-Rate (ARM) Loan: ARM loans are good for Hartford homeowners who plan to own a house for a short term. These loans have a lower rate during the determined initial period. Then the rates fluctuate depending on market conditions and index rates. This means that your rate might be higher or lower depending on the month, but an interest cap is negotiated and placed on your Hartford mortgage. This limits the maximum your rate can increase.

Non-Conventional Mortgage Loans in Hartford

● Federal Housing Administration (FHA) Loan: The Federal Housing Administration is government-backed and insures FHA loans through us, your Hartford lender. As a result, Prysma can offer you a better deal possibly including a lower down payment, lower closing cost, or lower interest rates. You will need to have a valid Social Security number, lawful residency in the U.S., and a steady employment history within the past two years.

● Tax ID Loan: These loans are the right fit for Non-US citizens without a Social Security number, credit score, or Green Card. These loans are available to workers in the Hartford who have a passport and Individual Tax Identification Number (ITIN).

● Veterans Administration (VA) Loan: Military veterans looking for a mortgage loan in Hartford are eligible for our VA loan options! Most of our VA loans don’t require a downpayment and have very low interest rates as 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 Hartford

Mortgage Refinancing Options: When you want to make adjustments to your monthly payments, refinancing might be the way to go. This can increase or decrease your interest rate or monthly payments so that you can pay off your mortgage more quickly or pay less through the lifetime of the loan. Prysma aims to mold your Hartford mortgage around your lifestyle and financial needs. Refinancing is often a great option for Hartford homeowners.

Reverse Mortgage Options in Hartford

Reverse Mortgage Options: If you’re a homeowner over the age of 62 and looking to exchange equity for cash, a Reverse Mortgage might be for you. Instead of paying us monthly payments for your mortgage, you exchange your part equity (ownership) of the home and we pay you instead.Retirees looking for income to live on month-to-month often do well with this option. In the case of a reverse mortgage, 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 Hartford 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.

If you would like to stop by one of our locations, we have two Connecticut offices: