Home Loans – Manchester, CT
Your Trusted Manchester, CT Mortgage Lender
exPLORE YOUR Loan OPTIONS
We are your trusted lender for all conventional & unconventional loans within the Manchester area.
Many Manchester area families have relied on Prysma to show them that they have the option of home ownership.
We take the time to discuss with you all of your circumstances and rates to help you choose the best loan option for your situation.
We have a pair of offices for you to discuss your potential plans:
18 Padanaram Rd, Danbury, CT
4750 Main St, Bridgeport, CT
If you are ready to begin the process of home buying, fill out the form to the left, or call us today at: (855) 513-8374
Your different Manchester Mortgage loan options
THE 4 STEPS TO HOMEOWNERSHIP IN MANCHESTER, CT
Prysma wants to help you during your home search. If you are buying your first home or you’re relocating to the area, we offer reliable and friendly lending services. Here is the simple 4-Step process:
You’ll speak with our licensed Mortgage Loan Originators for pre-qualification up to a set amount to start the process. Knowing this amount will give you a price range for your Manchester home search. Prysma’s loan specialists will work with you to answer all of your mortgage questions and ensure that you understand the process. They will help you to choose the best loan option for your family.
Find Your Home & Make an Offer
You can begin shopping for your Manchester area home after the pre-qualification is complete. While viewing homes, be sure to consider the neighborhood, safety, and location as well as the price. Once you choose a home, you will submit an offer to purchase and negotiate terms and the final purchase amount with the home seller.
You’ll meet with your Prysma Mortgage Loan Originator again to apply and secure your loan once you have the signed purchase agreement from the seller with a final price. Your loan specialist will work with you throughout this process.
closing & Moving in
When you are approved for your mortgage, your next step will be to close on the property. After your closing, you’ll be able to begin moving into your new Manchester home.
Why Borrowers Choose PRYSMA for MANCHESTER Home Loans
Prysma Lending went above and beyond to help me with my loan. It’s hard to rely on a good lender now a days, with all the big corporate banks out there. Prysma provided me with Amazing service. I have been using them for over 10 years and couldn’t be happier.
– S. Johnson
Highly recommend Prysma! They were very professional and went above and beyond my expectations! They kept me informed and answered all my questions. A special thanks for Debora and Mark for their effort, even during their vacation they worked and made my closing happened.
– M. Breda
Prysma cares about their clients and works hard to demonstrate that with each closing!
– W. Bernard
Understanding Manchester home Mortgage loans
Conventional Mortgage Loans in Manchester
Conventional loans aren’t backed and insured by the Federal Housing Administration (FHA) or the Veterans Administration (VA). Because there is no governmental financing, Prysma as the lender is responsible for all mortgaging. Prysma’s conventional loan options for our Manchester clients are:
- Fixed-Rate Loan: You’ll never guess what your monthly mortgage rate will be with a fixed-rate loan. These types of loans offer a set rate which is decided upfront and in exchange for an agreed upon down payment amount. The rate never fluctuates based on market or interest variables.
- Adjustable-Rate (ARM) Loan: Adjustable-rate mortgages may be the right choice if you don’t plan to stay in your Manchester home long. With these loans, you begin with an initial period consisting of a lower rate. Then, after that period, the rate fluctuates from month to month. Some months the rate may be higher and some lower, depending on the market and index rates. However, at time of signing, a rate cap is placed on your mortgage so you’ll never pay a higher rate than the capped amount.
Unconventional Mortgage Loans in Manchester, CT
- Federal Housing Administration (FHA) Loan: If you have a valid Social Security number, lawful residence in the United States, and a steady work history for two years, an FHA loan may be a good choice for your Manchester home purchase. FHA loans are backed and insured by the Federal Housing Administration, meaning that they can sometimes offer a lower down payment requirement, lower interest rates, or a less money required for closing costs.
- Tax ID Loan: Non-U.S. citizens who do not have a Social Security number, credit score, or Green Card may still be able to obtain a loan for a home with a Tax ID loan. For these loans, Manchester clients will need a passport and an Individual Tax Identification Number.
Veterans Administration (VA) Loan: If you are a military veteran, Prysma might have the perfect loan option for your Manchester home purchase! Most VA loans have low interest rates and many require no money down. To qualify, you’ll need proof of military service, proof that you were not dishonorably discharged, and previous financial records.
Mortgage Refinancing in Manchester
- Mortgage Refinancing Options: Prysma may be able to help current Manchester homeowners to make adjustments to their mortgage payments through refinancing. Refinancing can be used to increase or decrease your interest rate or monthly payments resulting in a smaller amount paid over the lifetime of the loan or paying the loan off faster. At Prysma, we’d like to assist you with a personalized plan for your refinance.
Reverse Mortgage Options in Manchester
- Reverse Mortgage Options:
- Reverse mortgages are useful for homeowners who are aged 62 and older. If you fit this criteria and are interested in exchanging partial equity in your Manchester home for a regular, monthly cash payment, give Prysma a call. The borrower is only required to repay the money if the home is vacated or sold.
Our Connecticut Home Loan Office Locations
Prysma serves Manchester and all of Connecticut. We offer conventional and unconventional loans by phone and online. You don’t even have to come into our offices!
However, if you would like to stop by one of our locations, we have two in Connecticut:
- 18 Padanaram Rd, Danbury, CT
- 4750 Main St, Bridgeport, CT