Home Loans – Albany, NY
Your Trusted Albany, NY Mortgage Lender
exPLORE YOUR Loan OPTIONS
Prysma Lending Group is your trusted lender in Albany for all conventional and unconventional loans. Here at Prysma we have been helping families in the Albany area understand the options they have when it comes to owning their own homes. Our team of dedicated professionals are on hand to answer all your questions and discuss your every concern. In addition, we offer insight needed on such important topics as loan options, rates, and circumstantial factors that will contribute to your mortgage.
For more information about our services or to take steps toward your own home ownership, be sure to contact one of our staff at (855) 513-8374 or fill out the form located here.
Your different Albany Mortgage loan options
Your different Albany Mortgage loan options
THE 4 STEPS TO HOMEOWNERSHIP IN Albany, NY
Here at Prysma our team of dedicated specialists is committed to helping clients through the buying process from start to finish. Whether you are purchasing your first home, or you are looking to purchase a relocation home here in Albany, take advantage of our simple 4-Step process.
The first important step to home ownership is that of pre-qualification. One of our highly skilled, licensed Mortgage Loan Originators will work with you through the pre-qual process and determine the price range that is right for you. Our loan specialists are available to answer any questions and to ensure you choose the ideal loan option that meets with your individual needs.
Find Your Home & Make an Offer
After the pre-qualification phase has been completed, you can then begin shopping around for your new home in Albany. It is important you give focus to some very important factors, including price, location and even neighborhood safety. Once you have located a property you are interested in, you can then make an offer to the seller and move forward with negotiations until you have reached an agreed upon sale price.
With your Albany home of choice and an agreed upon sale price you can then work with one of our Mortgage Loan Originator, who will guide you through every step of the loan process, to file your loan application and secure the necessary loan needed to purchase your new home.
closing & Moving in
Once you have been approved for your mortgage loan you can then begin preparing for your closing and thereafter move into your new Albany home.
Why Borrowers Choose PRYSMA for Albany 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 Albany home Mortgage loans
Conventional mortgage loans in Albany
Since conventional loans are not backed and insured by the Federal Housing Administration (FHA) or the Veterans Administration (VA), it is important you understand that without governmental financing, we, Prysma (the lender), is responsible for all mortgage funding. We offer a variety of conventional loan options including:
- Fixed-Rate Loan: For our Albany clients who have a steady month to month income and are comfortable with month to month payments, a fixed-rate loan may be the ideal option for you. You are required to make a down payment and then monthly payments, with a simple fixed rate, will be put in place. With a fixed-rate loan, you never have to wonder or worry what your monthly mortgage payment will be.
- Adjustable-Rate (ARM) Loan:For our Albany homeowners who only plan on keeping their homes for a short period of time, our adjustable-rate (ARM) is an ideal option. ARM mortgages have a lower rate during the initial period and then fluctuates depending on both index rates and market conditions which means that your rate can differ from month to month. However, a negotiated cap is put in place which limits the maximum rate increase that can occur.
Unconventional Mortgage Loans in Albany
- Federal Housing Administration (FHA) Loan: FHA (Federal Housing Administration) loans are backed by the Federal Housing Administration government organization. Though the loans are government backed they are insured by the lender. The lender can offer you a better deal, which may include a lower down payment, lower closing costs, or ever lower interest rates. Borrowers must have, in addition to a valid Social Security number, lawful residency in the U.S. and a steady employment history within the past two years.
- Tax ID Loan: For those potential homeowners who do not have a Social Security number, a credit score, or a Green Card, a Tax ID loan is apt to be the right choice for you. Here at Prysma we offer loans to those borrowers who are employed and have a passport and an Individual Tax Identification Number (ITIN).
- Veterans Administration (VA) Loan:
For all our valued military clients, we offer Veterans Administration (VA) loans. Most of our VA loans require no down payment and offer much lower interest rates that typical conventional loans. VA loans do require proof of military service. They also require disclosure of prior financials as well as confirmation that there has been no dishonorable discharge.
Mortgage Refinancing in Albany
Mortgage Refinancing Options:For those homeowners looking to make an adjustment to their current mortgage payments, our mortgage refinancing options are an ideal solution. Our team of specialists is steadfast in meeting the individual needs of our clients, whether it involves decreasing interest rates, reducing monthly payments, make adjustments to allow for early mortgage payoff or adjustments that allow homeowners to pay less through the term of the loan. At Prysma, we strive to provide clients with mortgages that meet with both their financial and lifestyle needs.
Reverse Mortgage Options in Albany
Reverse Mortgage Options: If you are over the age of 62 and are looking to exchange equity for cash, then perhaps a reverse mortgage is the perfect option for you. With a reverse mortgage rather than the homeowner paying monthly payments to the lender, the homeowner exchanges their equity in the home and the lender pays you instead. This is a very popular option for many retirees who are in need of month to month income to live on. There are no payments due to the lender until such time the home is either vacated or sold.
Our Connecticut Home Loan Office Locations
Here at Prysma Lending Group we take pride in the many mortgage loan options we provide. We offer both conventional and unconventional mortgage loans in the Albany area and are committed to meeting the individual needs of all our valued Albany clients. To start your loan process, reach out to one of our team members today at either one of our Connecticut locations, complete the process over the phone or you can work through the entire process online, whichever suits you best.
For an in-person meeting with one of our Mortgage Loan Officers visit us at one of our two Connecticut locations:
18 Padanaram Rd, Danbury, CT; or
4750 Main St, Bridgeport