Your Trusted Stamford, CT Mortgage Lender

Conventional Mortgage Loans in Stamford

Conventional loans are not backed or 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 Stamford conventional loan options at Prysma:

● Fixed-Rate Loan: These are ideal for a Stamford homeowner who is very reliable month-to-month with payments and financing. In exchange for a set down payment, monthly payments per month will be addressed and set at one simple fixed rate. Thus, market and interest variables won’t leave you guessing what your mortgage payment will be.

● Adjustable-Rate (ARM) Loan: For short term homeowners in Stamford, ARM loans are a great option. These loans have a lower rate during the determined initial period, and depending on market conditions and index rates, then fluctuate. This means different months will vary, causing your rate to be lower or higher. However, to limit the maximum your rate can increase, an interest cap is negotiated and placed on your Stamford mortgage.

Non-Conventional Mortgage Loans in Stamford

● Federal Housing Administration (FHA) Loan: he Federal Housing Administration is government-backed and insures these loans through your Stamford lender. We can offer you a better deal Including lower closing cost, a lower down payment, or lower interest rates. Borrowers must have lawful residency in the U.S., a valid Social Security number, and have steady employment history within the past two years.

● Tax ID Loan: These loans work best for Non-US citizens who do not have a credit score, Social Security number, or Green Card. Workers who have a passport and Individual Tax Identification Number (ITIN) can be offered loans in the Stamford area.

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

Mortgage Refinancing in Stamford

Mortgage Refinancing Options: Refinancing is most common when you want to make adjustments to your monthly payments. To pay less through the lifetime of the loan or pay off the mortgage quicker, this can mean increasing or decreasing your interest rate or monthly payments. At Prysma, our goal is to mold your Stamford mortgage around your lifestyle and financial needs. Refinancing is often a useful option for Stamford homeowners.

Reverse Mortgage Options in Stamford

Reverse Mortgage Options: If you’re looking to exchange equity for cash and are a homeowner over the age of 62, a reverse mortgage loan is for you. You exchange your part equity (ownership) of the home and we pay you instead, rather than paying us monthly payments for your mortgage. The borrower isn’t required to pay back the lender until the home is sold or vacated. Retirees looking for income to live on month-to-month often choose this option.

Our Connecticut Home Loan Office Locations

Prysma offers both conventional and unconventional mortgage loans in Greater Stamford and all throughout Connecticut. You are not required to visit our offices to complete the loan process. Each step of the loan process 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: