Prysma Lending Group Mortgage Rates, Fees & Info

DANBURY, CT

LEI: 549300FW5QWKDV0UY394

Tax ID: 20-0236095

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Prysma Lending Group is a smaller mortgage company specializing in Home Purchase loans. Prysma Lending Group has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: Bridgeport, New Haven, Torrington, Hartford, and Boston among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Prysma Lending Group has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Prysma Lending Group is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 8.70% 12/3/24
    30 Year Conventional Refi 7.28% 12/3/24
    30 Year Cash-out Refi 8.34% 12/3/24
    30 Year FHA Purchase 7.58% 12/3/24
    30 Year FHA Refi 6.27% 12/3/24
    15 Year Conventional Purchase 10.58% 12/3/24
    15 Year Conventional Refi 5.68% 12/3/24
    15 Year Cash-out Refi 5.68% 12/3/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Prysma Lending Group Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Prysma Lending Group. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    183

    Origination Dollar Volume (All Markets)

    $45,335,000

    Awards

    PRYSMA LENDING GROUP FHA Loans silver PRYSMA LENDING GROUP FHA Loans silver
    Show all (2) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 115 $30,965,000 $269,261 $7,502 4.09%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 45 $9,035,000 $200,778 $7,354 4.14%
    Torrington, CT (FHA|USDA|VA) 16 $3,630,000 $226,875 $6,643 3.93%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 4 $970,000 $242,500 $8,877 3.75%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $315,000 $315,000 $3,716 4.50%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $245,000 $245,000 $10,839 7.50%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $175,000 $175,000 $9,038 7.88%
    Prysma Lending Group's top markets include Bridgeport, New Haven, Torrington, Hartford, and Boston among others.

    Their top states include:
  • Connecticut (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against PRYSMA LENDING GROUP based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Northwest Community Bank
    Similarity Rank: 231
    Thomaston Savings Bank
    Similarity Rank: 625
    SIKORSKY FINANCIAL
    Similarity Rank: 685
    SILVERMINE VENTURES LLC
    Similarity Rank: 750
    Ridgewood Savings Bank
    Similarity Rank: 756
    The Torrington Savings Bank
    Similarity Rank: 792
    MUTUAL SECURITY CREDIT UNION
    Similarity Rank: 1155
    PULTE MORTGAGE LLC
    Similarity Rank: 1320
    GENERAL ELECTRIC EMPLOYEES FEDERAL CREDIT UNION
    Similarity Rank: 1944
    AMERICAN EAGLE FINANCIAL CREDIT UNION
    Similarity Rank: 2100

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 127 $29,975,000 $236,024 $6,432 4.62%
    FHA 56 $15,360,000 $274,286 $9,682 3.00%

    For 2020, Prysma Lending Group's most frequently originated type of loan was Conventional, with 127 originations. Their 2nd most popular type was FHA, with 56 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 148 $35,970,000 $243,041 $7,885 4.32%
    Refi 25 $6,735,000 $269,400 $5,153 3.01%
    Cash Out Refi 10 $2,630,000 $263,000 $6,329 3.96%

    For 2020, Prysma Lending Group's most frequently cited loan purpose was Home Purchase, with 148 originations. The 2nd most popular reason was Refi, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 170 $42,000,000 $247,059 $7,624 4.21%
    15 Year 9 $2,145,000 $238,333 $4,714 3.07%
    20 Year 4 $1,190,000 $297,500 $5,114 3.00%

    For 2020, Prysma Lending Group's most frequently cited loan duration was 30 Year, with 170 originations. The 2nd most popular length was 15 Year, with 9 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 105 $29,325,000 $279,286
    $5k+ 41 $9,065,000 $221,098
    $4k-5k 14 $2,560,000 $182,857
    $2k-3k 13 $2,835,000 $218,077
    $3k-4k 10 $1,550,000 $155,000

    Prysma Lending Group's average total fees were $7,624, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 105 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 61 $16,585,000 $271,885
    3-4% 51 $13,875,000 $272,059
    7-8% 21 $3,625,000 $172,619
    <2.5% 19 $4,775,000 $251,316
    6-7% 19 $3,885,000 $204,474
    4-5% 6 $1,630,000 $271,667
    Over 8% 5 $625,000 $125,000
    5-6% 1 $335,000 $335,000

    During 2020, Prysma Lending Group's average interest rate for loans was 4.21%, while their most frequently originated rate bucket for loans was 2.5-3%, with 61 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 108 $30,430,000 $281,759 $7,472 3.47%
    $100k-200k 57 $9,075,000 $159,211 $7,200 5.25%
    $400k-600k 12 $5,310,000 $442,500 $9,224 3.55%
    $100,000 or less 6 $520,000 $86,667 $5,155 6.31%

    2020 saw Prysma Lending Group place emphasis on $200k-400k loans with 108 originations, totaling $30,430,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 79 $18,355,000 $232,342 $7,054 4.08%
    $75k-100k 40 $11,030,000 $275,750 $7,960 3.96%
    $50k or less 28 $4,790,000 $171,071 $6,271 4.17%
    $100k-150k 27 $7,765,000 $287,593 $8,610 4.30%
    $150k-250k 7 $2,895,000 $413,571 $7,585 3.86%
    $250k+ 2 $500,000 $250,000 $11,104 6.88%

    Prysma Lending Group lent most frequently to those with incomes in the $50k-75k range, with 79 originations. The second most popular income band? $75k-100k, with 40 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 32 $7,480,000 $233,750 $8,004 4.95%
    20-30% 25 $5,445,000 $217,800 $7,331 5.44%
    50-60% 21 $5,495,000 $261,667 $9,303 3.32%
    42% 18 $4,480,000 $248,889 $7,121 4.03%
    44% 14 $3,520,000 $251,429 $5,847 3.53%
    41% 10 $2,710,000 $271,000 $7,056 3.61%
    37% 8 $1,720,000 $215,000 $7,532 4.37%
    45% 8 $2,130,000 $266,250 $8,322 3.58%
    48% 7 $1,745,000 $249,286 $8,419 3.16%
    38% 7 $1,825,000 $260,714 $5,392 3.79%
    47% 6 $1,620,000 $270,000 $7,179 3.50%
    43% 6 $1,650,000 $275,000 $5,348 3.13%
    39% 5 $1,355,000 $271,000 $5,367 3.93%
    46% 5 $1,485,000 $297,000 $7,425 2.75%
    <20% 3 $395,000 $131,667 $6,987 6.04%
    49% 3 $795,000 $265,000 $7,876 2.79%
    40% 3 $1,125,000 $375,000 $6,899 3.08%
    36% 2 $360,000 $180,000 $7,883 5.62%

    Prysma Lending Group lent most frequently to those with DTI ratios of 30-36%, with 32 originations. The next most common DTI ratio? 20-30%, with 25 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 167 $41,235,000 $246,916 $7,420 4.19%
    Black 13 $3,405,000 $261,923 $7,112 3.20%
    American Indian 2 $540,000 $270,000 $10,274 4.56%
    Asian 1 $155,000 $155,000 $6,853 3.50%

    Approval Rates

    Total approvals of all applications
    82.82%

    Prysma Lending Group has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    81.97%

    Prysma Lending Group has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 183 $45,335,000 $247,732

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 183 $45,335,000 $247,732

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $320,000 $160,000 $4,697 5.62%
    40-60% 7 $1,335,000 $190,714 $6,106 3.93%
    60-80% 66 $14,380,000 $217,879 $7,396 5.44%
    80-100% 108 $29,300,000 $271,296 $7,581 3.30%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Paragon Mortgage Services, Inc. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%