Your Trusted Norwich, CT Mortgage Lender

Conventional Mortgage Loans in Norwich

Conventional loans aren’t backed or secured by the Federal Housing Administration (FHA) or the Veterans Administration (VA). As a result, this leaves the lender (us) liable for all mortgage loans. We offer a variety of loans. Check out the following conventional loan types at Prysma:

● Fixed-Rate Loan: For the residents in Norwich, CT who are on a fixed income, having predictable payments is essential. After paying a set down payment, monthly payments will be configured and set a chosen amount. If you don’t want to have to figure out the price of your mortgage payment from month-to-month as a result of fluctuating market and interest variables, then a fixed-rate loan is the one for you.

● Adjustable-Rate (ARM) Loan: ARM loans are practical for homeowners in Norwalk, CT planning to keep their house for a brief time. These loans have a lower rate at the beginning of the period and then varies depending on index rates and market conditions. An interest cap is set at the beginning and put on your Norwalk, CT mortgage, restricting the highest your interest rate can reach.

Non-Conventional Mortgage Loans in Norwich

● Federal Housing Administration (FHA) Loan: If you’re only planning to relocate to the Norwich, CT area for a short period of time, then an Adjustable-Rate Loan (ARM) might be a good choice for you. These loans start with a lower rate that adjusts over a period of time according to index rates and market conditions. A cap is set on how high your interest rate can climb at the beginning of your Norwich, CT ARM loan, preventing it from exceeding that amount.

● Tax ID Loan: The Federal Housing Administration (FHA) loan is supported by the government. This means your loan is backed after being provided to you by your Norwich, CT lender. This allows Prysma to give you a much better deal. You may be able to put down a lower down payment or have a reduced interest rate. Individuals seeking this loan should have a valid Social Security number, lawful residency in the U.S. and at least two years of steady employment.

● Veterans Administration (VA) Loan: The Tax ID loan is helpful for those Non-U.S. citizens who do not possess a Social Security number, credit score, or Green Card. Prysma accepts loan applications from Norwich, CT individuals who have a valid passport and Individual Tax Identification Number (ITIN).

Mortgage Refinancing in Norwich

Mortgage Refinancing Options: Mortgage refinancing is helpful for current homeowners looking for a way to adjust their monthly payment or interest rate. Our refinancing specialists can increase or decrease your rates or payments to allow you to pay off your mortgage in less time or just so you can pay less on a monthly basis. Speak with our experts to see how we can help achieve your refinancing goals.

Reverse Mortgage Options in Norwich

Reverse Mortgage Options: A reverse mortgage is beneficial for older homeowners trying to find an additional stream of money. This is typically perfect if you’re over the age of 62 and willing to trade equity (home ownership) for monthly payments. This means that we pay you on a monthly basis until you decide to vacate or sell your home. If you’re retired and in need of additional income, talk with our reverse mortgage experts that represent the Norwich, CT area, today.

Our Connecticut Home Loan Office Locations

Prysma provides both conventional and unconventional mortgage loans to families in Norwich, CT and all around the state of Connecticut. Loan applications can be completed online or via telephone so you never have to visit our office.
We have two physical offices in Connecticut if you prefer to stop on by: