Home Loans – Elmira, NY
Your Trusted Elmira, NY Mortgage Lender
exPLORE YOUR Loan OPTIONS
At Prysma Lending Group, conveniently located in Connecticut at 18 Padanaram Rd, Danbury, CT and 4750 Main St, Bridgeport, CT our team of dedicated Mortgage Loan Originators take pride in serving our many valued clients in the Elmira area with all their mortgage loan needs. We have been providing conventional and unconventional loans for years to clients and assist many families in understanding their mortgage loan options. From loan options and rates to circumstantial factors that may have an impact on your Elmira home mortgage, our team covers it all.
For more information about our high-quality lending options or to schedule an appointment with one of our qualified loan give a shout out to our team at 888-743-9985 You may also fill out the form located here, if you prefer.
Your different Elmira Mortgage loan options
THE 4 STEPS TO HOMEOWNERSHIP IN Elmira, NY
Whether you are having to relocate to Elmira or are a first-time home buyer in need of a mortgage, you can always rely on the professionals here at Prysma Lending Group and our simple 4-Step process.
Step one is the pre-qualification stage. During this stage we must determine the amount of money that will be afforded you to use for the purchase of your new home in Elmira. In order to determine your pre-qualification amount, one of our dedicated Mortgage Loan Originators will work with you to ensure that you choose the ideal loan option for your individual needs and receive the best pre-qualification for your individual needs.
Find Your Home & Make an Offer
The next step after the pre-qualification phase is simply finding a home and property in Elmira that is of interest to you. When looking for your new home be sure to take into consideration the sale price, the location and even the neighborhood safety rating. Once you decide on a home, you can then make a formal offer to buy to the seller. You may find yourself negotiating back and forth for a bit before you both come to an acceptable sale price on the Elmira property.
After you and the seller come to an agreed upon sale price, you will then work with one of our Mortgage Loan Originators to file and secure your mortgage application.
closing & Moving in
The last step of the process after your loan has been approved, is to set and attend your closing and then begin making plans to move into your new Elmira home.
Why Borrowers Choose PRYSMA for Elmira 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 Elmira home Mortgage loans
Conventional mortgage loans in Elmira
Conventional mortgage loans are fully funded by the lender. They are not backed or insured by a government agency such as the Federal Housing Administration (FHA) or the Veterans Administration (VA). The conventional mortgage loans we offer include:
- Fixed-Rate Loan: A loan that has a fixed rate and requires a borrower to pay a down payment is referred to as a fixed-rate loan. The highlight of a fixed-rate loan is that the monthly payment remains the same every month.
- Adjustable-Rate (ARM) Loan: A loan that starts out with a low rate at its inception but fluctuates over time is referred to as an adjustable-rate (ARM). The fluctuations of an ARM loan are based on index rates and market conditions. ARM loans also have a negotiated cap that limits the maximum rate increase that can occur and is an ideal mortgage loan option for homeowners who plan to reside in their homes for only a short span of time.
Unconventional Mortgage Loans in Elmira
- Federal Housing Administration (FHA) Loan: Loans that are backed by the Federal Housing Administration (FHA) are referred to as FHA loans and require borrowers to make a smaller down payment. They also offer borrowers lower closing costs and lower interest rates. To qualify for an FHA loan, a borrower must have a valid Social Security number, lawful residency in the U.S. and a steady two-year employment history.
- Tax ID Loan: When a borrower has no Social Security number, credit score, or Green Card, here at Prysma we can offer them a Tax ID loan whose only requirements are that the borrower be employed and possess a passport and an Individual Tax Identification Number (ITIN).
- Veterans Administration (VA) Loan:
Loans that are specific to military personnel are referred to as Veterans Administration (VA) Loans. For military personnel looking for a home in Elmira they must show proof of military service and provide confirmation that there was no dishonorable discharge. In addition, military personnel must also disclose prior financials. The high points of these VA loans include no down payments and lower interest rates.
Mortgage Refinancing in Elmira
Mortgage Refinancing Options: If you are a homeowner in Elmira who needs to reduce your monthly mortgage payment or reduce your interest rate, then you want to be sure to talk with one of our loan officers about our mortgage refinancing options. Our officers will help to ensure that you choose the option that best fits your financial and lifestyle needs.
Reverse Mortgage Options in Elmira
Reverse Mortgage Options: When homeowners over the age of 62 find it necessary to exchange the equity in their homes for cash, they typically choose a reverse mortgage option. With a reverse mortgage, Elmira homeowners no longer make monthly payments, but rather for and exchange of the equity in their homes, lenders will make monthly payments to them.
Our Connecticut Home Loan Office Locations
The dedicated team of licensed Mortgage Loan Originators at Prysma Lending Group are committed to helping individuals find and purchase their dream home. Whether a first-time home, a relocation home or even a refinance of an existing home, we have got you covered. For more information about our many home loan options give a shout out to one of our licensed loan officers today. If you prefer, you can actually perform the entire loan process online or you can choose to meet with a loan officer in person at one of our 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