Leader in Tax ID Loans & Mortgage Solutions
Prysma Lending Group has helped thousands of families since 2003 realize their dream of home ownership through ITIN/Tax ID Loans and traditional mortgage solutions.
Prysma is your trusted lender for Conventional Loans. We specialize in conventional loans with products and lending solutions designed for homeowners who want to buy their primary residence, second home, or rental property.
We are here to make home ownership affordable throughout Connecticut, Florida, Georgia, Massachusetts, New Jersey, New York, North Carolina, Pennsylvania, and
Texas.
We understand that finding the right type of home loan can be a frustrating process, but we are here to ensure that your buying process goes smoothly.
Your Conventional Loan Options
Fixed-Rate Loan
A conventional fixed-rate mortgage offers maximum stability for your household budget. Your interest rate and your monthly principal and interest payments will remain exactly the same over the entire lifespan of the loan, protecting you completely from market fluctuations. This option is ideal for buyers planning to stay in their homes long-term.
Adjustable-Rate (ARM) Loan
A conventional adjustable-rate mortgage typically features a lower initial interest rate and lower monthly payments during the first few years of the loan. After this initial fixed period, the rate adjusts periodically based on current market conditions. This option is an excellent choice for buyers who plan to sell or refinance their property within a few years.
The 4 Simple Steps To Homeownership
Prysma is here to help you through the home buying process whether this is your first house or you are relocating to a new area.
Here is the simple 4-Step process to owning your own home.
Pre-qualification
You speak with one of Prysma’s licensed Mortgage Loan Originators to get pre-qualified for a loan up to a certain amount. This amount helps you determine the price range for the home that is right for you. Our loan specialists will take the time to answer all of the questions you have to help ensure you choose the best loan option for your needs.
Find Your Home & Make An Offer
After pre-qualification you can begin shopping for your home. When looking at different home options, make sure to consider all the different factors including price, location and safety of the neighborhood. After you choose the property you make an offer and negotiate with the seller on the final sales price.
3. Processing & Underwriting
Once your purchase offer is formally accepted, you return to your Prysma loan officer to submit your full application. Our processing team coordinates your home appraisal, verifies your income and credit background, and prepares your file for underwriting review.
Closing & Moving In
Once your offer has been accepted and you have been approved for your mortgage you prepare for closing and move into your new home!
Understanding Conventional Loans
What is a Conventional Loan?
Conventional loans are mortgages that are not directly insured by the Federal Housing Administration (FHA) or guaranteed by the Veterans Administration (VA).
Conventional loans are also commonly known as "conforming loans" because they conform to the strict financing rules and credit standards set forth by Fannie Mae and Freddie Mac. These guidelines include a minimum FICO credit score of 620 and loan amounts that adhere to the baseline conforming limits established annually by the Federal Housing Finance Agency (FHFA).
The Benefits of Conventional Financing
Conventional loans offer some of the lowest down payments available.
If you do make a down payment of 20% or more, generally no private mortgage insurance (PMI) is required.
There is more flexibility in loan terms. You can choose from a repayment period between 10 and 30 years.
Conventional loans can be used to buy primary residences, vacation homes and even investment properties between one to four units.
How do I qualify?
Have a solid employment history with a steady income
Keep a low debt-to-income ratio
Maintain a good credit score
Save up a down payment for your home between 3%-20%
Your #1 Source for Conventional Loans
We’ve helped thousands of Latino families over the past twenty years realize their dream of home ownership and we can help you.
The Right Loan Options For Your Family
At Prysma Lending Group, we offer traditional conventional options like standard fixed-rate and adjustable-rate mortgages, alongside government-backed programs including FHA and VA loans. We also specialize in alternative Non-QM solutions, such as our industry-leading Tax ID loans. Whatever your situation, we have the right loan option that fits your needs.
Your Dedicated Partners
in Homeownership
The mortgage loan process can look overwhelming, but it doesn’t have to be. You will have a dedicated, licensed mortgage loan originator to guide you through the process. They will sit down with you and answer all of your questions. We are here to help you navigate the waters of home ownership as your trusted partner.
Why Choose Prysma As Your Lending Provider
Focused on Hispanic Homeownership
We know that not everyone gets treated equally in the home-buying process. We’re here to correct that for members of our community.
20+ Years of Experience
We’re passionate about what we do, so it’s easy for us to keep growing and delivering personalized home loans to Hispanic families.
We’re Honest and Transparent
We want to make your home-buying experience as clear and accessible as possible. We will always be upfront with you about your options.
We Find Solutions
The home-buying process can be challenging. We’ll help you navigate your options and find the home loan that’s perfect for you.
FAQ
What is a Conventional Loan?
A Conventional Loan is a mortgage not backed by the government. It typically offers lower rates for borrowers with good credit and stable income.
What are the benefits of Conventional Loans?
They offer flexible terms, competitive interest rates, and the ability to avoid mortgage insurance with a 20% down payment.
Who qualifies for a Conventional Loan?
Borrowers with a solid credit score, consistent income, and manageable debt. It’s the most common type of mortgage in the U.S.
Why choose Prysma for Conventional Loans?
Prysma provides personalized guidance and fast approvals. We make it easier to secure a loan that matches your financial goals.
Testimonials
Start your home purchase with the leader in Tax ID loans & mortgage solutions
Prysma is your trusted home loan provider, serving residents of Connecticut, Florida, Georgia, Massachusetts, New Jersey, New York, North Carolina, Pennsylvania, and Texas. Prysma is here to make people realize their dream of homeownership is entirely possible.
Our experienced loan professionals sit down with you to find the best rates and loan options for you and your family. We understand that owning a home can seem daunting, but we support you through every single step of the homebuying process.
Fill out the form or call today to learn which of our home loans is right for you.
(475) 284-8981
