Your Trusted Lawrence, MA Mortgage Lender

Conventional Mortgage Loans in Lawrence

There is no direct governmental financing for conventional loans, but rather, they are insured by either the Federal Housing Administration (FHA), or the Veterans Administration (VA). Prysma is responsible for all mortgaging and offers the following conventional loan options to Lawrence borrowers:

● Fixed-Rate Loan: The perfect option for Lawrence homeowners who are very steady month-to-month with payments and financing. Set at one simple fixed rate, after discussing, monthly payments will be exchanged for a set down payment. And based upon market and interest variables your mortgage payment will be determined.

● Adjustable-Rate (ARM) Loan: Planning on only keeping your Lawrence home for the short time being? A short term, then ARM loans are a good option for you. These loans, during the determined initial period, have a lower rate and will fluctuate depending on market conditions and index rates. An interest cap will always be negotiated and placed upon your Lawrence mortgage, but on different months your fate could be lower or higher. By allowing an interest cap, this will limit the maximum your rate can increase to.

Non-Conventional Mortgage Loans in Lawrence

● Federal Housing Administration (FHA) Loan: Through your Lawrence lender, the Federal Housing Administration is government-backed and insures these loans. We are able to provide you with a better deal, including lower closing cost, a lower down payment, and even lower interest rates. In order to be qualified, you must have lawful residency in the U.S., a valid Social Security number, and a consistent employment history within the past two years.

● Tax ID Loan: These loans are a good idea for Non-US citizens in the area who do not have a Social Security number, Green Card, or credit score. If you have a passport and Individual Tax Identification Number (ITIN), you might be eligible for a Tax ID loan.

● Veterans Administration (VA) Loan: At Prysma we love our veterans. If you’re a military veteran looking for a mortgage loan our VA loan options may be perfect for you.
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 Lawrence

Mortgage Refinancing Options: If you’re looking to refinance, Prysma is here as your low-cost alternative to banks. Our competitive interest rates, flexible terms and fast approval process makes your credit union an easy choice for all of your home loan needs. In the end, all we want to do at Prysma is help to mold your mortgage around your lifestyle and financial needs.

Reverse Mortgage Options in Lawrence

Reverse Mortgage Options: Reverse Mortgage Options: Looking to exchange equity for cash? If you stand at an age over 62 and are a homeowner, then you are applicable for a reverse mortgage. By exchanging your part equity (ownership) of the home, you will replace paying us monthly payments for your mortgage instead and we will be paying you as a result. If you’re looking for income to live on month-to-month and are a retiree, this option is a viable option. And there is no need to rush, for not until the home is sold or vacated will the borrower need to pay back the lender.

Our Connecticut Home Loan Office Locations

Prysma Lending Group is a trusted lender for both conventional and unconventional loans in the Lawrence area and all of Connecticut. Call us today, or visit us online, and you can complete the entire loan process without having to meet in-person, for your convenience.
We have two Connecticut offices: