Home Loans – Binghamton, NY
Your Trusted Binghamton, NY Mortgage Lender
exPLORE YOUR Loan OPTIONS
Here at Prysma Lending Group our team of professionals has been recognized as some of the absolute best in the mortgage lending industry. We have been providing conventional and unconventional loans to all our Binghamton clients for years and take great pride in helping many families in the Binghamton area understand the many mortgage options available to help make their homeowner dreams come true. Our Mortgage Loan Originators are on hand to discuss loan options, rates, and circumstantial factors that can ultimately affect your 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 Binghamton Mortgage loan options
Your different Buffalo Mortgage loan options
THE 4 STEPS TO HOMEOWNERSHIP IN Binghamton, NY
Whether you are a first-time home buyer or need to relocate here to Binghamton, the team here at Prysma Lending Group is prepared to walk you through the entire home buying process. We offer our simple 4-Step process.
The first phase of the buying process is that of pre-qualification. During this phase we determine the amount of money you are approved for in order to purchase your home. Our dedicated Mortgage Loan Originators will work right alongside you to determine that amount and to ensure that you choose the ideal loan option that meets with your personal needs.
Find Your Home & Make an Offer
The next phase is that of finding a Binghamton home that satisfies your needs. During your home search be sure to focus on the price of the home, the location and even the neighborhood safety. Once you have found your potential new home, you can then make an offer to the seller. It may require some back and forth negotiations until you reach a sale price you both agree on.
With an approved purchase price in place, it is now time to work with one of our Mortgage Loan Originators who will file and secure your mortgage loan application for your new Binghamton home.
closing & Moving in
Once your home mortgage has been approved, you can then start preparing for your upcoming closing and make plans to move into your new Binghamton home.
Why Borrowers Choose PRYSMA for Binghamton 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 Binghamton home Mortgage loans
Conventional mortgage loans in Binghamton
A loan that is not backed or insured by a government agency such as the Federal Housing Administration (FHA) or the Veterans Administration (VA) is called a conventional mortgage loan. These loans are funded by the lender. Here at Prysma we have a variety of conventional loan options we offer to all our Binghamton clients including:
- Fixed-Rate Loan: A loan that requires a down payment and is written with a simple fixed rate is called a Fixed-Rate Loan. Borrowers make the same mortgage payment month after month with a fixed-rate loan.
- Adjustable-Rate (ARM) Loan:A mortgage loan that starts out with a lower rate at its inception and then fluctuates based on index rates and market conditions is called an Adjustable-Rate (ARM) Loan. These loans also have a negotiated cap that limits the maximum rate increase that can occur and is ideal for our Binghamton clients who plan to live in their homes for only a short period of time.
Unconventional Mortgage Loans in Binghamton
- Federal Housing Administration (FHA) Loan: Mortgage loans that are backed by the Federal Housing Administration (FHA) are called FHA loans. With an FHA loan, borrowers make a lower down payment, have lower closing costs, and even are written with lower interest rates. In order to qualify for an FHA loan, a borrower much have a valid Social Security number, lawful residency in the U.S. and a steady two-year employment history.
- Tax ID Loan: For individuals who have no Social Security number, credit score, or Green Card, our Tax ID loan may be your mortgage loan of choice. However, you must be employed and have a passport and an Individual Tax Identification Number (ITIN).
- Veterans Administration (VA) Loan:
Our military clients looking to purchase a home in Binghamton can take advantage of our Veterans Administration (VA) Loans. To obtain a VA loan which requires no down payment and offers lower interest rates, military personnel must show proof of military service and provide confirmation that there was no dishonorable discharge. They will also be required to disclose prior financials.
Mortgage Refinancing in Binghamton
Mortgage Refinancing Options:For existing homeowners in Binghamton looking to reduce interest rates and monthly mortgage payments, we suggest you talk with one of the dedicated loan originators here at Prysma. Our loan officers can discuss mortgage refinancing options with you and together you can choose the option that best fits your financial and lifestyle needs.
Reverse Mortgage Options in Binghamton
Reverse Mortgage Options: If you own a home in Binghamton and are over the age of 62 looking for additional income, a reverse mortgage may be the perfect option for you. With a reverse mortgage you can exchange equity in your home for cash. Homeowners do not make monthly payments but rather the lender pays them monthly for an exchange of equity in their home. If you need additional income each month, check out our reverse mortgage options.
Our Connecticut Home Loan Office Locations
Here at Prysma Lending Group we are steadfast in our commitment to provide only the highest quality services to all our valued clients. We strive to meet the individual needs of all our Binghamton clients with our conventional and unconventional loans and are on hand to help with all your important decision making. To learn more about the mortgage options available to you or to start the mortgage process, give a call out to one of our Mortgage Loan Originators today, perform you loan process online or if you prefer, visit a loan officer at one of our two Connecticut locations.
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