Your Mortgage Questions,
Answered Simply

Art Loera is a bilingual mortgage Branch Manager at PRMG in Reno, Nevada, with over 27 years of experience. NMLS #367308, NV License #8980. He has helped thousands of families purchase and refinance homes across Reno, Lake Tahoe, and Northern Nevada since 1999, earning 315+ verified five-star reviews. Authoritative sources: Verify Art's NMLS #367308.

Art uses a Strategic Transaction Management approach, meaning he manages every detail of your loan from application to closing. He is bilingual (English and Spanish), locally rooted in Reno since 1999, and offers 16+ mortgage programs including specialty products like DSCR, Non-QM, and Down Payment Assistance that many lenders do not offer.

Art Loera is fully bilingual in English and Spanish. He provides complete mortgage guidance, documentation, and communication in both languages. Spanish-speaking clients in Reno and Northern Nevada do not have to translate anything themselves.

Art typically responds to inquiries within the same business day. For urgent matters or time-sensitive purchase offers, he is reachable by phone at 775-404-0006 or by email at aloera@prmg.net. Pre-approvals can often be issued within 24 to 48 hours.

Art is personally licensed in Nevada and originates loans throughout Reno, Sparks, Carson City, Lake Tahoe (both the Nevada and California sides), Truckee, Incline Village, and Stateline. Through PRMG's multi-state branch network, borrowers across 48 states can also be served. Authoritative sources: Verify PRMG state licensing (NMLS #75243).

Getting started is easy. Call Art at 775-404-0006, email aloera@prmg.net, or use the Apply Now button on this website. Art will walk you through a brief conversation to understand your goals, then outline the best loan options for your situation, no commitment required. Authoritative sources: CFPB: Prepare to shop for a home.

Initial consultations and pre-approval conversations with Art are free. Lender fees and third-party costs are disclosed transparently as part of your Loan Estimate once you formally apply. Art will explain every cost before you commit to anything. Authoritative sources: CFPB: Understanding the Loan Estimate.

Phone: 775-404-0006. Toll Free: 877-469-7610. Email: aloera@prmg.net. Office: 6490 S. McCarran Blvd, Suite C26, Reno, NV 89509. You can also use the online application at renotahoemortgages.com.

An FHA loan is a government-backed mortgage insured by the Federal Housing Administration. It allows down payments as low as 3.5 percent with a credit score of 580 or higher. Few programs let a first-time buyer in with less. FHA loans require mortgage insurance for the life of the loan in most cases. Authoritative sources: HUD: FHA home loans, CFPB: FHA loan basics.

A VA loan is a mortgage benefit available to eligible active-duty military, veterans, and surviving spouses. VA loans require no down payment, no private mortgage insurance (PMI), and typically offer competitive interest rates. Art Loera is experienced in VA loan origination in Nevada. Authoritative sources: VA.gov: VA-backed home loans.

A USDA loan is a zero-down-payment mortgage for eligible rural and suburban properties, backed by the US Department of Agriculture. Income limits apply, and the property must be in a USDA-eligible area. Art can help determine if a property in the Reno or Lake Tahoe region qualifies. Authoritative sources: USDA: Single Family Housing Guaranteed Loan Program.

A Conventional loan is a mortgage not backed by a government agency. It typically requires a credit score of 620 or higher and a down payment of at least 3 to 5 percent. Conventional loans are flexible in property types and allow PMI removal once you reach 20 percent equity. Authoritative sources: Fannie Mae: Conventional mortgage products.

A Jumbo loan is a mortgage that exceeds conforming loan limits set by the Federal Housing Finance Agency. For 2026, that limit is $832,750 in most of Nevada, though high-cost areas like Lake Tahoe may have higher limits. Jumbo loans often require stronger credit and larger reserves. Authoritative sources: FHFA: Conforming Loan Limit Values.

A DSCR (Debt Service Coverage Ratio) loan qualifies borrowers based on the rental income of the property rather than personal income or tax returns. This makes it ideal for real estate investors. Art Loera offers DSCR loans for single-family and multi-unit investment properties in Nevada. Authoritative sources: CFPB: Ability-to-Repay and Qualified Mortgage Rule (12 CFR 1026.43).

A Non-QM (Non-Qualified Mortgage) loan is designed for borrowers who do not fit traditional income documentation requirements. This includes self-employed borrowers using bank statements, investors, foreign nationals, and those with recent credit events. Art offers multiple Non-QM solutions at PRMG. Authoritative sources: CFPB: Ability-to-Repay and QM Rule.

Down Payment Assistance (DPA) programs provide grants or second loans to help cover the down payment and sometimes closing costs. Nevada offers several DPA programs for income-eligible first-time buyers. Art Loera is experienced in pairing DPA with FHA, Conventional, and VA loans. Authoritative sources: HUD: Buying a home, including DPA programs, Nevada Housing Division: Home Buyer programs.

A 203K loan is an FHA-backed mortgage that rolls the purchase price and renovation costs into a single loan. It is ideal for buying a fixer-upper or upgrading an existing home. Art Loera offers Standard and Streamlined 203K options at PRMG. Authoritative sources: HUD: Section 203(k) Rehabilitation Loan.

A Reverse Mortgage allows homeowners aged 62 or older to convert home equity into tax-free cash without monthly mortgage payments. The loan is repaid when the homeowner sells, moves, or passes away. Art Loera offers HECM reverse mortgages through PRMG. Authoritative sources: HUD: Home Equity Conversion Mortgage (HECM), CFPB: What is a reverse mortgage?.

FHA loans require a minimum credit score of 580 to qualify for a 3.5 percent down payment. Borrowers with scores between 500 and 579 may qualify with a 10 percent down payment. Art can review your full credit profile and recommend the best path forward. Authoritative sources: HUD Handbook 4000.1: FHA underwriting requirements.

In most Nevada counties, the 2026 conforming loan limit is $832,750. Loans above this amount are considered Jumbo. In high-cost areas like Lake Tahoe, different limits may apply. Art Loera can provide current limits for your specific county and help you identify the right loan structure. Authoritative sources: FHFA: 2026 Conforming Loan Limits by county.

The mortgage process typically has six steps: pre-approval, property search, offer accepted, underwriting, closing disclosure, and closing. Art manages all six steps with his Strategic Transaction Management approach. He talks to every party, handles the file, and keeps you informed at every stage. Authoritative sources: CFPB: Owning a Home, mortgage process guide.

Pre-approvals with Art can typically be issued within 24 to 48 hours once all required documents are received. For purchases with urgent timelines, Art prioritizes fast turnarounds. The pre-approval letter demonstrates your borrowing power to sellers. Authoritative sources: CFPB: What is mortgage preapproval?.

Standard pre-approval documents include: two years of W-2s or tax returns (three years if self-employed), recent pay stubs (30 days), two months of bank statements, a government-issued photo ID, and your Social Security number. Art will provide a complete checklist tailored to your loan type. Authoritative sources: CFPB: Documents you need to apply.

Pre-qualification is a rough estimate of what you may borrow, based on self-reported information with no document verification. Pre-approval involves verified income, assets, and credit. The lender issues a conditional commitment. Sellers and agents take pre-approvals much more seriously in competitive markets like Reno. Authoritative sources: CFPB: Preapproval explained.

A rate lock is an agreement between you and the lender to hold a specific interest rate for a set period, typically 30 to 60 days, while your loan is processed. This protects you from rate increases before closing. Art advises on the best time to lock based on market conditions. Authoritative sources: CFPB: What is a rate lock?.

Most purchase loans close in 21 to 45 days from the accepted offer. Some loan types like VA and USDA may take slightly longer. Refinances typically close in 20 to 30 days. Art tracks every step of the process to avoid unnecessary delays. Authoritative sources: CFPB: Preparing to close.

Closing costs are fees paid at closing beyond the down payment. They typically range from 2 to 5 percent of the loan amount and include origination fees, appraisal, title insurance, escrow, and prepaid taxes and insurance. Art provides a Loan Estimate early in the process so there are no surprises. Authoritative sources: CFPB: Closing costs explained.

PMI (Private Mortgage Insurance) is required on Conventional loans when your down payment is less than 20 percent. It protects the lender, not you. You can avoid PMI by putting down 20 percent, using a piggyback loan, or switching from an FHA loan to Conventional once you have sufficient equity. Authoritative sources: CFPB: Private Mortgage Insurance (PMI).

At closing, you sign all final loan documents, pay closing costs and the remaining down payment, and receive the keys to your new home. Art coordinates with escrow, title, and all parties to ensure a smooth closing. The process typically takes one to two hours. Authoritative sources: CFPB: Your Closing Disclosure, what to expect.

Yes. Self-employed borrowers have multiple options including conventional loans using two years of tax returns, bank statement loans (using 12 to 24 months of deposits to qualify), and DSCR loans for investment properties. Art Loera specializes in Non-QM and alternative documentation loans at PRMG. Authoritative sources: CFPB: Documenting self-employed income.

Art serves the entire Northern Nevada region including Reno, Sparks, Carson City, Fernley, Fallon, Dayton, Minden, Gardnerville, Incline Village, Crystal Bay, and the Nevada side of Lake Tahoe. He also originates loans on the California side of Lake Tahoe through PRMG.

Lake Tahoe properties often require Jumbo financing due to high home values. Many properties are second homes or vacation rentals, which have different underwriting requirements than primary residences. Art has specialized experience with Lake Tahoe's unique lending environment on both the Nevada and California sides. Authoritative sources: FHFA: High-cost county loan limits.

Yes. Nevada offers several first-time homebuyer programs including Home Is Possible (HIP), Home Is Possible for Heroes, and various Down Payment Assistance programs through the Nevada Housing Division. These can be combined with FHA, VA, USDA, or Conventional loans. Art Loera is an approved HIP lender. Authoritative sources: Nevada Housing Division: Home Is Possible program, HUD: First-time homebuyer information.

As of 2025, the median home price in Reno is approximately $480,000 to $520,000, though prices vary by neighborhood and property type. The market remains active with steady demand driven by migration from California and the growth of the local technology sector. Art can help you understand current market dynamics.

Reno continues to attract buyers due to its no-income-tax environment, proximity to Lake Tahoe, and growing tech economy. Inventory remains tighter than historical averages, which has supported home values. Art can provide a personalized market assessment and help you evaluate timing based on your financial situation.

The first step is getting pre-approved. This tells you exactly how much you can borrow, strengthens your offer in a competitive market, and helps you shop with confidence. Contact Art at 775-404-0006 to start your pre-approval, which takes only 24 to 48 hours. Authoritative sources: CFPB: First steps to buying a home.

Down payment requirements vary by loan type. VA and USDA loans require zero down payment. FHA loans require as little as 3.5 percent. Conventional loans can start at 3 percent. Jumbo loans typically require 10 to 20 percent. Down Payment Assistance programs may cover your entire down payment if you qualify. Authoritative sources: CFPB: How much for a down payment?.

Strategic Transaction Management (STM) is Art Loera's signature approach to mortgage lending. Rather than treating a loan as a transaction, Art manages every detail as a coordinated strategy, keeping realtors, escrow, title, and borrowers aligned throughout the process to prevent delays and ensure a smooth close.

Yes. Through PRMG's Affinity Fulfillment Services (AFS), Art can connect borrowers in 48 states with an experienced, PRMG-licensed loan officer. Art personally makes the introduction and receives a flat-fee referral for the connection. Not available in New York or Wyoming. Authoritative sources: Verify PRMG state licensing (NMLS #75243).

You can apply online at renotahoemortgages.com by clicking Apply Now, call Art directly at 775-404-0006, or email aloera@prmg.net. Art will review your situation, recommend the best loan program, and guide you through every step from application to closing.