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Home Loans – New Bedford, MA

Your Trusted New Bedford, MA Mortgage Lender


When you’re looking to obtain a conventional or unconventional loan, Prysma is your number one New Bedford, MA lender.

We work hard to give families the opportunity to become first-time homeowners with a fair loan. We will help you find the right mortgage loan that will fit your unique needs while well into your budget.

If you are interested in learning how to begin working towards home ownership, please fill out the form on our web page, or call us today at: 888-743-9985.

Your different New Bedford Mortgage loan options

Conventional Loans

A conventional loan, which allows you to borrow with more flexible loan terms, can offer significantly lower down payments. Borrowers can choose between a fixed or adjustable-rate mortgage.

Unconventional Loans

Prysma’s unconventional loans can be a fantastic option for New Bedford-area residents. These alternative mortgage loan types include FHA Loans, VA Loans & Tax ID (ITIN Loans).

Refinancing Options

Homeowners interested in adjusting monthly payments or interest rates may find Prysma’s refinancing options to be the perfect choice for their family.

Reverse Mortgages

If you’re an older person in need of additional income, our reverse mortgages might be an option. This lets you use your current investment as a method of collecting a monthly payment in exchange.


Assistance is available from Prysma, whether this is your first house or you are merely relocating to the New Bedford area. Overall, all our team wants to do is help you through the home buying process by following this simple 4-Step process:



The first thing you need to get started is to become prequalified for a loan. This way you know your budget before searching for a home in New Bedford, MA. Prysma’s licensed Mortgage Loan Originators will take note of your financial situation and home preferences before beginning the pre-qualification process. We strive to help you find the amount that fits your lifestyle and needs.


Find Your Home & Make an Offer

Once the pre-qualification process is complete, you can begin shopping for your New Bedford home. There are a number of factors to take into account when deciding on a property; price, location and safety among others are critical factors when looking at different home options. Once you’ve found the perfect property for you, it is time to make an offer and negotiate with the seller on the final purchase price.


Loan Application

When you have a signed and accepted offer and have agreed to the final price of the home, you’ll return to Prysma to apply and lock in your loan for your New Bedford area home with our Mortgage Loan Originator. Your loan specialist with assist you with each part of this process.


closing & Moving in

After your application has been reviewed and approved by our experts, then we’ll go through the final closing procedures with you. Upon completion, you’ll be given the keys so you can begin the move-in process into your new New Bedford, MA home!

Why Borrowers Choose PRYSMA for New Bedford Home Loans

Prysma Lending went above and beyond to help me with my loan. It’s hard to rely on a good lender now a days, with all the big corporate banks out there. Prysma provided me with Amazing service. I have been using them for over 10 years and couldn’t be happier.

– S. Johnson

Highly recommend Prysma! They were very professional and went above and beyond my expectations! They kept me informed and answered all my questions. A special thanks for Debora and Mark for their effort, even during their vacation they worked and made my closing happened.

– M. Breda

Prysma cares about their clients and works hard to demonstrate that with each closing!

– W. Bernard

Understanding New Bedford home Mortgage loans

Conventional mortgage loans in New Bedford

Conventional loans, for which there is no governmental financing, are backed and insured by either the Federal Housing Administration (FHA) or the Veterans Administration (VA). Prysma is responsible for all mortgaging. Prysma offers the following New Bedford conventional loan options:

  • Fixed-Rate Loan: For the residents who are on a fixed income, having predictable payments is essential. After paying a set down payment, monthly payments will be configured and set a chosen amount. If you don’t want to have to figure out the price of your mortgage payment from month-to-month as a result of fluctuating market and interest variables, then a fixed-rate loan is the one for you.
  • Adjustable-Rate (ARM) Loan:  For local residents who plan on only living in their house short term; an ARM may be your best bet. With adjustable-rate mortgages, home buyers are able to enjoy a lower interest rate during a predetermined initial period. After this period, your interest rate will vary each month, based on the market and rate indexes. However, a cap will be set when your loan is secured, so you’ll know the rate will never exceed the capped rate amount.

Unconventional Mortgage Loans in New Bedford

  • Federal Housing Administration (FHA) Loan: Through your New Bedford 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:  Future homeowners may still qualify to purchase a home even if you aren’t a US citizen, with a Tax ID Loan. If you can provide an Individual Tax Identification Number, Prysma can help you with the pre-qualification process to see if you are approved for a New Bedford home loan.
  • Veterans Administration (VA) Loan: If you’re a military veteran looking for a mortgage loan, then the best fit for you may be our VA loans. These, for the most part, do not require money down and come with very low interest rates (as compared to conventional loans). However, there are requirements that come with this loan, these being: proof of military service, proof that you haven’t been dishonorably discharged and prior financials.
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Mortgage Refinancing in New Bedford

Mortgage Refinancing Options: If you want to adjust to your monthly payments, refinancing might be a good choice for you. Refinancing increases or decreases your interest rate or monthly payments so that you can pay off your mortgage more quickly or pay less through the lifetime of the loan. Prysma aims to structure your New Bedford mortgage to meet your financial needs and lifestyle. Refinancing is often a great option for homeowners.

Reverse Mortgage Options in New Bedford

Reverse Mortgage Options: If you are a homeowner over the age of 62 and looking to exchange equity for cash, then a reverse mortgage loan can be offered. The process of this involves you exchanging your part equity (ownership) of the home. This will then replace paying us monthly payments for your mortgage and, instead, we will be paying you as a result. If you’re a retiree looking for income to live on month-to-month, this option is very popular. And not until the home is sold or vacated will the borrower need to pay back the lender.

Our Connecticut Home Loan Office Locations

Our physical locations are in Connecticut, but we serve the MA area with both conventional and unconventional mortgage loans. To complete the loan process, you don’t have to visit our offices. It can still be accomplished over the phone or online.

Our two locations in Connecticut include:

18 Padanaram Rd, Danbury, CT
4750 Main St, Bridgeport, CT