Your Trusted Brockton, MA Mortgage Lender

Conventional Mortgage Loans in Brockton

Loans that aren’t insured by either the Federal Housing Administration (FHA) or the Veterans Administration (VA) are considered to be conventional loans. That means that Prysma, as the lender, is solely responsible for your Brockton loan. Here are the conventional loans that we have to offer:

● Fixed-Rate Loan: These are perfect for a homeowner who is very steady month-to-month with payments and financing. In exchange for a set down payment, monthly payments per month will be discussed and set at one simple fixed rate. This way you don’t have to guess what your mortgage payment will be based on market and interest variables.

● Adjustable-Rate (ARM) Loan: A good option for Brockton homeowners planning on keeping their house for a short term are Arm loans. Due to their lower rate, these loans during the determined initial period will fluctuate depending on market conditions and index rates. Your mortgage will have an interest cap (to limit the maximum your rate can increase to ) negotiated and placed upon it. However, different months your rate could be lower or higher.

Non-Conventional Mortgage Loans in Brockton

● Federal Housing Administration (FHA) Loan: Since FHA loans are backed and insured by the government, it may be in your best interest to purchase a home this way. You may be eligible for a lower down payment, lower interest rates, and much more when buying your Brockton home. In order to apply, you must meet a few requirements, which consist of being a verified US citizen, and having a valid social security number.

● Tax ID Loan: These loans are the right fit for Non-US citizens who do not have a Social Security number, credit score, or Green Card. We offer loans to workers who have a passport and Individual Tax Identification Number (ITIN).

● Veterans Administration (VA) Loan: As a military veteran looking for a mortgage loan within Brockton, the most suitable loans for you may be our VA loans. For the most part, these do not have a requirement of money done and, instead, come with very low interest rates (in comparison to conventional loans); except the requirements one has to meet to be able to possess these loans are: proof of military service, proof that you haven’t been dishonorably discharged and prior financials.

Mortgage Refinancing in Brockton

Mortgage Refinancing Options: Refinancing, being the best option for you, can help when you want to make adjustments to your monthly payments. Through the process of increasing or decreasing your interest rate or monthly payments, the mortgage can be paid off quicker to cost less through the lifetime of the loan. Concerning your lifestyle and financial needs, our job as Prysma allows us to help fit your Brockton mortgage around such.

Reverse Mortgage Options in Brockton

Reverse Mortgage Options: A reverse mortgage loan is for homeowners over the age of 62 and looking to exchange equity for cash. Instead of paying us monthly payments for your mortgage, you exchange your part equity (ownership) of the home and we pay you instead. This is popular for retirees looking for income to live on month-to-month. The borrower isn’t required to pay back the lender until the home is sold or vacated.

Our Connecticut Home Loan Office Locations

Although we have two offices in Connecticut, Prysma is licensed to serve the CT, NY, MA & FL areas. We give you the option of convenience with the ability to complete all loan processes over the phone or by email.

Our two physical locations include: