Your Trusted Cape Coral, FL Mortgage Lender

Conventional Mortgage Loans in Cape Coral

Prysma is not backed by the government, and is therefore fully responsible for all mortgaging in conventional loans. The Federal Housing Administration (FHA) and the Veterans Administration (VA) are not involved in insuring or backing these loans. Here are the conventional loans we offer Cape Coral buyers:

● Fixed-Rate Loan: If you are a Cape Coral homeowner looking to do fixed monthly payments, then this is the best option for you. For a fixed-rate loan, you put a set down payment for the investment and then after monthly payments are discussed, we are able to establish a fixed monthly rate for you. Fixed-rates always stay the same and never change.

● Adjustable-Rate (ARM) Loan: If you are planning to stay in your new home for a shorter period of time, an adjustable-rate loan may be the smartest choice. A predetermined initial period offers a lower rate. After this period, rates fluctuate based on market conditions and index rates. An interest cap we negotiate will limit the amount your mortgage rate can increase. This means your monthly rates will fluctuate.

Non-Conventional Mortgage Loans in Cape Coral

● Federal Housing Administration (FHA) Loan: With an FHA loan the Federal Housing Administration will back and insure your loan through Prysma. There are some benefits to this type of loan including a smaller down payment requirement, lower closing costs, or a lower interest rate. In order to qualify, a buyer must have a valid Social Security number, lawful residency in the U.S., and a steady, two year employment history.

● Tax ID Loan: If you are a non-citizen and do not have a Social Security number, credit score, or Green Card you may qualify for a Tax ID loan. In order to qualify you need to have a passport and individual tax identification number (ITIN).

● Veterans Administration (VA) Loan: If you are a Veteran in Cape Coral, you may find a Veterans Administration loan is the best fit for your home purchasing needs. A number of these loans have very low interest rates and require no money down. In order to qualify a veteran must have prior financial history, proof of military services and proof that their charge was not dishonorable.

Mortgage Refinancing in Cape Coral

Mortgage Refinancing Options: Prysma offers mortgage refinance to allow you to make adjustments to your monthly payments. Refinancing can be used to increase or decrease your interest rate or monthly payments. This allows clients to pay off a mortgage more quickly or to decrease the amount paid through the lifetime of a loan. Prysma has the capability to tailor your mortgage to the lifestyle and needs of your family.

Reverse Mortgage Options in Cape Coral

Reverse Mortgage Options: If you are a homeowner over the age of 61 and are looking to increase your monthly income, then reverse mortgage may be the best option for you. Reverse mortgages allow you to have a regular monthly payment by using your existing equity. The equity in your home is then exchanged for cash each month, so instead of you having to pay us each month it is reversed. Repaying this money only needs to be done when the home is sold or vacated.

Our Connecticut Home Loan Office Locations

Conventional and Unconventional Mortgage Loans are the two types of loans our team at Prysma offer in Cape Coral and all throughout Florida. In order to complete the loan process, an office visit is not even necessary. Every step can be done either over the phone or online.

If you’d like to visit us in person, our two Connecticut offices are as follows: