Home Loans – Taunton, MA
Your Trusted Taunton, MA Mortgage Lender
exPLORE YOUR Loan OPTIONS
The leaders in home loans in the Groton area are ready to help you and your family find the perfect home loan for your needs. Prysma has a team of dedicated mortgage experts to answer any questions you may have.
Our team of professionals have seen it all, we’ve dealt with various cases that have varied in complexity, and we’re here to help you navigate!
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 Taunton Mortgage loan options
Conventional Loans
A conventional loan is a type of mortgage loan that is not insured or guaranteed by the government. Instead, the loan is backed by private lenders, and its insurance is usually paid by the borrower. Because conventional loans offer so much flexibility, there are still some decisions you have to make even after you choose this loan type. You’ll also have to consider how much you can put down, how long you want your loan term to be, and how much house you can afford.We know that sounds pretty overwhelming, but don’t panic! We’ve got some super simple tips to help you confidently buy a house with a conventional loan.
Unconventional Loans
Unconventional mortgage loans are also an option for Taunton residents through Prysma’s lending services. Unconventional 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
Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to supplement their income. This loan product is aimed at consumers who own their homes outright — or at least have a considerable amount of equity to draw from.
THE 4 STEPS TO HOMEOWNERSHIP IN Taunton, ma
Prysma is ready to help you through the home buying process. Whether you are relocating to the Stanford area or this is your first house, we’re here. Here is the simple 4-Step process.
1
Pre-Qualification
Our licensed Mortgage Loan Originators will speak with you for a pre-qualification up to a specific amount. Knowing this amount helps you to shop for a home that is in the price range most likely to be right for your family. Your loan specialist will help you to evaluate the best loan option for your needs. We’ll guide you through the process and answer your questions.
2
Find Your Home & Make an Offer
Once you are pre-qualified for a loan by Prysma, you can begin your home search right away. When choosing a new home, there are a number of factors to keep in mind: price, location, and safety among others. Once you’ve found the Taunton property of your dreams, it is time to make an offer and negotiate with the seller on the final purchase price.
3
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 Taunton area home with our Mortgage Loan Originator. Your loan specialist with assist you with each part of this process.
4
closing & Moving in
All that is left once a price has been determined and you have been approved for your mortgage, is to close the deal. Prysma’s job is done at this point, and it is time for you to prepare to move into your new Taunton home.
Why Borrowers Choose PRYSMA for Taunton 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 Taunton home Mortgage loans
Conventional mortgage loans in Taunton
As conventional loans are not backed and insured by the Federal Housing Administration (FHA) or the Veterans Administration (VA), it is important to note that there is no governmental financing. The lender, therefore us, is responsible for all mortgaging. Our conventional loan options for our clients at Prysma include:
- Fixed-Rate Loan: A fixed-rate mortgage has the same interest rate for the life of the loan. In other words, your monthly payment of principal and interest won’t change. A fixed-rate mortgage is the most popular type of financing because it offers predictability and stability for your budget. Lenders typically charge a higher starting interest rate for a fixed-rate mortgage than they do for an ARM, which can limit how much house you can afford.
- Adjustable-Rate (ARM) Loan: An adjustable-rate mortgage, or ARM, is a home loan with an interest rate that can change periodically. This means that the monthly payments can go up or down. Generally, the initial interest rate is lower than that of a comparable fixed-rate mortgage. After the fixed-rate period ends, the interest rate on an ARM loan moves based on the index it’s tied to.
Unconventional Mortgage Loans in Taunton
- Federal Housing Administration (FHA) Loan: The Federal Housing Administration (FHA) Loan is guaranteed by the government. It’s also insured by the government through your Taunton, MA lender. We can offer you a better deal, such as one with a moderate down payment, reduced closing costs, or even a lower interest rate. In order to be a borrower, you must have lawful residency in the U.S., a valid Social Security number, and have steady 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:
A VA mortgage loan (also known as a Veterans Administration home loan) is one of the most useful military benefits. If you qualify, you can buy or build a home, or refinance an existing home mortgage, with as little as $0 down, great rates, and financing. Another benefit over traditional mortgages is that there is no PMI (Private Mortgage Insurance, the monthly insurance fee charged to protect the bank until you reach at least 20 percent equity).
Mortgage Refinancing in Taunton
Mortgage Refinancing Options: The best option for when you want to make adjustments to your monthly payments is usually refinancing. By increasing or decreasing your interest rate or monthly payments, this can result in paying off the mortgage quicker or paying less through the lifetime of the loan. 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 Taunton
Reverse Mortgage Options: Refinancing a mortgage means you get a new home loan to replace your existing one. If you can refinance into a loan that has a lower interest rate than you’re currently paying, you may be able to save money. The best time to consider doing a refinance is when interest rates fall sharply, and sink well below the level they were at when you closed on your original mortgage. Another good opportunity is when your credit improves to the point where a new loan has a lower interest rate. We’ll make sure to walk you through the process, and help you figure out what’s best for your needs.
Our Connecticut Home Loan Office Locations
Prysma offers both Conventional and Unconventional Mortgage Loans in Taunton and all throughout Massachusetts. You don’t have to visit our offices to complete the loan process, as each step can be accomplished over the phone or online.
We have two Connecticut offices:
18 Padanaram Rd, Danbury, CT
4750 Main St, Bridgeport, CT