Home Loans – Auburn, NY
Your Trusted Auburn, NY Mortgage Lender
exPLORE YOUR Loan OPTIONS
The team here at Prysma Lending Group has been providing conventional and unconventional loans to all our Auburn clients for years. We take pride in helping families in the Auburn area understand the varied mortgage options they can choose from. We provide clients with all the data they need to know including loan options, rates, and circumstantial factors that can ultimately contribute to their home mortgage.
To learn more about your mortgage options, or to talk with one of our experienced lending specialists give us a call at (855) 513-8374, or if you prefer, fill out the form located here.
Your different Auburn Mortgage loan options
Your different Auburn Mortgage loan options
THE 4 STEPS TO HOMEOWNERSHIP IN Auburn, NY
Here at Prysma we walk our clients through the home buying process from start to finish. Whether you are in the market for your first-time home or need to relocate to the Auburn area, we are the team for you. Take advantage of our simple 4-Step process.
To begin the buying process, we start with the pre-qualification phase wherein one of our licensed Mortgage Loan Originators helps to determine your pre-approved loan amount. They are on hand to answer all your questions and discuss any concerns you may have and to ensure that you choose the loan option that best meets your needs.
Find Your Home & Make an Offer
The second phase is that of shopping around and finding the Auburn home that satisfies your requirements. When searching out your home be sure to keep in mind the price range you are approved for, the location, and even the neighborhood safety of your potential new home. Once you find a home that interests you, you can then make an offer to the seller. You may need to negotiate back and forth until you come to an agreed upon sale price.
Once your purchase price has been approved on the Auburn home you located, it is time to work with one of our dedicated Mortgage Loan Originators, to file your mortgage loan application and secure your mortgage loan.
closing & Moving in
Once the mortgage loan is approved, it is time to start prepping for your closing and planning for your soon to be move into your new Auburn home.
Why Borrowers Choose PRYSMA for Auburn 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 Auburn home Mortgage loans
Conventional mortgage loans in Auburn
A conventional loan is not backed or insured by a government agency such as the Federal Housing Administration (FHA) or the Veterans Administration (VA). Instead the mortgage funding is the responsibility of our team here at Prysma (the lender) and we offer a number of conventional loan options that include:
- Fixed-Rate Loan: A fixed-rate loan requires the borrower to make a down payment and then make monthly payments that are calculated with a simple fixed rate. With our popular fixed-rate loan you make the same mortgage payment month after month.
- Adjustable-Rate (ARM) Loan: Our mortgage loans that start out with a lower rate during the initial period and then fluctuate based on index rates and market conditions are called adjustable-rate (ARM) loans. ARM loans have a negotiated cap which limits the maximum rate increase that can occur. This loan option is ideal for our Auburn homeowners who only plan on keeping their homes for a short period of time.
Unconventional Mortgage Loans in Auburn
- Federal Housing Administration (FHA) Loan: Backed by the Federal Housing Administration, FHA loans are insured by the lender. We, here at Prysma, can offer borrowers a lower down payment, lower closing costs, or lower interest rates when writing your FHA loan. To obtain an FHA loan for your Auburn property, borrowers must have a valid Social Security number, lawful residency in the U.S. and a steady two-year employment history.
- Tax ID Loan: If you do not have a Social Security number, a credit score, or a Green Card, our Tax ID loan may be the perfect option for you if you are employed and have a passport and an Individual Tax Identification Number (ITIN).
- Veterans Administration (VA) Loan:
Our Veterans Administration (VA) Loans are the perfect solution for our military clients. A VA loan requires no down payment and offers borrowers a lower interest rate than typical conventional loans offer. Military personnel must show proof of military service and provide confirmation that there was no dishonorable discharge. Borrowers will also need to disclose prior financials.
Mortgage Refinancing in Auburn
Mortgage Refinancing Options: If you currently own a home but are looking to reduce your monthly mortgage payments or reduce your interest rate, then talk with one of our specialists here at Prysma about our mortgage refinancing options. Our team is committed to meeting the financial and lifestyle needs of all our valued Auburn clients.
Reverse Mortgage Options in Auburn
Reverse Mortgage Options: For our clients over the age of 62 who need to exchange equity for cash, take advantage of our reverse mortgage options. With a reverse mortgage, homeowners do not make monthly payments but rather exchange the equity in their Auburn homes and the lender makes payments to them. This can be a perfect solution for retirees who are in need of an additional monthly income to help with living expenses. Homeowners make no payments to the lender until the property is sold or vacated.
Our Connecticut Home Loan Office Locations
The team of experienced specialists here at Prysma Lending Group have been recognized time and time again as some of the absolute best in the industry. Our team takes pride in meeting the mortgage needs of all our clients and in meeting the individual needs of our valued Auburn clients. Take time out to visit one of our convenient Connecticut locations to talk with a Mortgage Loan Originator in person or, if you prefer, you can perform the entire process over the phone or online.
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