Your Trusted Massachusetts Mortgage Lender

Conventional Mortgage Loans in Massachusetts

Conventional loans can be backed by the Federal Housing Administration (FHA) or the Veterans Administration (VA). Since there is no governmental financing, Prysma, the lender, is responsible for all mortgaging. Here are the Massachusetts conventional loan options at Prysma:

● Fixed-Rate Loan: For Massachusetts homeowners with reliable, steady month-to-month payments and good financing, Fixed-Rate loans are an excellent option! In exchange for a predetermined down payment, your monthly payments will be discussed and set at one simple fixed rate. This way, there’s no guessing what your mortgage payment will be based on market and interest variables.

● Adjustable-Rate (ARM) Loan: ARM loans are good for Massachusetts homeowners who plan to own a house for a short term. During a determined initial period, these loans have a lower rate. Over time, the rates fluctuate depending on market conditions and index rates. Although your rate might be higher or lower depending on the month, an interest cap is negotiated and placed on your Massachusetts mortgage, which limits the maximum your rate can increase.

Non-Conventional Mortgage Loans in Massachussets

● Federal Housing Administration (FHA) Loan: The Federal Housing Administration is government-backed and insures FHA loans through Prysma, your Massachusetts lender. Because of this, Prysma can offer you a great deal—potentially including a lower down payment, lower closing costs, or lower interest rates. Borrowers need a valid Social Security number, must have lawful residency in the U.S., and have to have a steady employment history for the past two years.

● Tax ID Loan: These loans are the perfect choice for Non-US citizens without a Social Security number, credit score, or Green Card. Tax ID loans are available to workers in the Massachusetts, so long as they have a passport and Individual Tax Identification Number (ITIN).

● Veterans Administration (VA) Loan: Military veterans seeking a mortgage loan in Massachusetts might benefit from our VA loan options! Most of our VA loans have very low interest rates as compared to conventional loans and do not require a downpayment. All this loan requires is proof of military service, proof that you haven’t been dishonorably discharged, and prior financials.

Mortgage Refinancing in Massachusetts

Mortgage Refinancing Options: If you are looking to adjust your monthly payments, refinancing might be the way to go. Refinancing can increase or decrease your interest rate or your monthly payments. This allows you to pay off your mortgage more quickly and/or pay less through the lifetime of the loan. Prysma aims to mold your Massachusetts mortgage around your lifestyle and financial needs. Refinancing is often a great option for Massachusetts homeowners.

Reverse Mortgage Options in Massachusetts

Reverse Mortgage Options: If you’re a homeowner over the age of 62, a Reverse Mortgage might be for you. Instead of paying us monthly payments for your mortgage, you can exchange equity for cash. As the homeowner, you exchange some equity (ownership) of the home. We then pay you instead. Retirees looking for income to live on month-to-month often do well with this option. In the case of a reverse mortgage, the borrower isn’t required to pay back the lender until the home is sold or vacated.

Our New York Home Loan Office Locations

Prysma offers both conventional and unconventional mortgage loans in the Greater Connecticut area. You do not even need to visit our office to complete the loan process! Each step can be accomplished over the phone or online.
You can also stop by one of our locations, we have two Connecticut offices: