30+ Loan Programs.
One Call to Art.
Most lenders in Reno offer 4 to 6 programs. Art offers 30+ through PRMG, one of the top-25 privately held mortgage companies in the country. If there is a path to your goal, Art will find it. Se habla Español.
The Most Accessible
Paths to Homeownership
FHA, VA, and USDA loans are backed by the federal government. That backing is what allows lower down payments, flexible credit requirements, and competitive rates for qualifying buyers.
FHA Home Loan
The nation's most popular first-time buyer program. Government-backed with low down payment requirements and flexible credit guidelines. Art has closed hundreds of FHA loans in Reno and Tahoe.
FHA: Key Facts
- 3.5% minimum down payment
- Credit scores from 580+ accepted
- Gift funds allowed for down payment
VA Home Loan
Zero down payment, no PMI ever, and some of the best rates available. The most powerful home loan benefit earned by those who served. Art knows VA guidelines inside and out.
VA: Key Facts
- Certificate of Eligibility required, Art can order it for you
- Funding fee can be financed, waived with a service-connected disability
- No official loan limit with full entitlement remaining
- The benefit is reusable, prior use does not disqualify you
USDA Rural Loan
Zero down payment for eligible rural and suburban areas. Many properties in Northern Nevada and surrounding communities qualify. Art will check your address for USDA eligibility instantly.
USDA: Key Facts
- Income limits count all adults in the household, not just borrowers
- Guarantee fee can be financed into the loan amount
- Primary residences only, no second homes or rentals
- Closing costs can come from seller credits or gift funds
For Buyers With
Strong Qualifications
Conventional loans offer lower long-term costs, no upfront mortgage insurance, and the most flexibility for well-qualified buyers and investors.
Conventional Loan
The standard for well-qualified buyers. Lower long-term costs, PMI drops off at 20% equity, and the widest range of property types accepted. Best rates for buyers with strong credit.
Conventional: Key Facts
- Conforming loan limits are set by county and adjust each year
- A larger down payment improves both pricing and PMI cost
- Second homes and investment purchases allowed with a higher down payment
- Gift funds accepted for primary residence purchases
Jumbo Loan
For high-value homes above conforming loan limits. Art specializes in jumbo financing for Incline Village, South Lake Tahoe, and luxury Reno properties with competitive rates and flexible terms.
Jumbo: Key Facts
- Reserves of 6 to 12 months of payments are commonly required
- Full income documentation with two years of history is standard
- Interest-only options exist for qualified borrowers
- Two appraisals may be required on larger loan amounts
Conventional 97 / No-PMI
Fannie Mae and Freddie Mac programs allow as little as 3% down on a conventional loan. Lender-paid PMI options eliminate monthly mortgage insurance for qualified buyers.
97 and No-PMI: Key Facts
- Income limits apply for HomeReady and Home Possible, checked by address
- A homebuyer education course may be required for first-time buyers
- Standard 97 requires at least one first-time buyer on the loan
- Single-family homes, condos, and PUDs are eligible
Programs Most Lenders
Never Tell You About
Art's access to PRMG's full product matrix means programs that most local lenders simply do not offer. If you have been told you cannot qualify, call Art first.
Down Payment Assistance
Nevada and federal DPA programs provide grants and forgivable second loans toward your down payment and closing costs. Art knows every active program in Northern Nevada and how to stack them for maximum benefit.
DPA: Key Facts
- Income and purchase price limits vary by program and county
- A homebuyer education certificate is required by most programs
- Some assistance forgives over time if you stay in the home
- Minimum credit scores vary by program, many start at 640
Bank Statement Loan
Your tax returns do not reflect your real income? Art qualifies self-employed buyers, business owners, and real estate investors using 12 to 24 months of bank statements, no W-2s, no tax returns required.
Bank Statement: Key Facts
- Income is calculated from average monthly deposits
- An expense factor is applied based on your business type
- Two years of self-employment history is typically required
- Primary, second home, and investment properties are eligible
DSCR Investor Loan
Debt Service Coverage Ratio loans qualify based on the property's rental income, not your personal income. Perfect for investors building a Reno or Tahoe rental portfolio with complex tax returns.
DSCR: Key Facts
- A ratio near 1.0 means the rent covers the full payment
- Short-term rental income can qualify with a 12 month history
- Close in an LLC to protect your personal name
- First-time investors are accepted on many DSCR programs
DSCR Express Plus
Premium DSCR program for experienced investors. Faster closings, larger loan amounts, and competitive pricing for portfolios of single-family rentals and small multifamily properties across Nevada and the Lake Tahoe basin.
Express Plus: Key Facts
- Built for investors with a documented track record
- Interest-only and 40 year payment options available
- Ratios below 1.0 considered with stronger reserves
- Reduced seasoning requirements on cash-out transactions
Asset Qualifier Loan
Qualify on your liquid assets, not your income. Ideal for retirees, high-net-worth investors, and anyone with substantial savings or investment accounts who does not show traditional income. No tax returns, no W-2s, no employment verification required.
Asset Qualifier: Key Facts
- Assets are divided over a set term to create qualifying income
- Retirement accounts may count at a reduced percentage
- No employment history is required to qualify
- Funds must season in your accounts, recent deposits are reviewed
Foreign National Loan
No US credit, no Social Security number, no problem. Art works with international buyers and investors purchasing US rental property in Nevada and the Lake Tahoe area. Qualify on assets or property rental income. Close in your name or your LLC.
Foreign National: Key Facts
- Valid passport and visa documentation required
- Foreign credit reference letters can substitute for US credit
- Funds must be in a US bank account before closing
- ITIN borrowers may qualify under related programs
Non-Warrantable Condo Loan
Lake Tahoe condotels, high investor-concentration buildings, and unique condo projects that Fannie Mae and Freddie Mac will not finance. Art has access to non-warrantable condo financing other Reno lenders simply cannot offer. Critical for Tahoe and Incline Village buyers.
Non-Warrantable: Key Facts
- Warrantability is about the building, not the borrower
- A budget and reserve review of the HOA replaces agency approval
- Buildings that allow short-term rentals can be financed
- A larger down payment strengthens tougher projects
Fix and Flip Loan
Short-term financing for investors buying, renovating, and reselling. Includes acquisition plus renovation budget in a single loan. Built for the Reno flip market where speed and clear exit strategy matter. Convert to a DSCR loan if you decide to hold and rent.
Fix and Flip: Key Facts
- Rehab funds are released in draws as the work completes
- Loan sizing considers the after-repair value
- Interest-only payments during the renovation period
- First-time flippers accepted with a qualified contractor
Heroes Program
Educators, healthcare workers, firefighters, police, and first responders may qualify for special pricing and closing cost credits exclusive to Art's clients. Reno's heroes deserve more.
Heroes: Key Facts
- Proof of an eligible profession is all it takes to apply
- Works on both purchases and refinances
- Combines with down payment assistance where eligible
- Retired members of eligible professions may qualify
Bridge & Hard Money Exit
Paying 10 to 14 percent on a hard money or bridge loan? Art specializes in pulling homeowners and investors out of expensive short-term financing into permanent mortgage solutions. Save thousands per month.
Bridge Exit: Key Facts
- Refinance out as soon as the property or lease supports it
- Title seasoning under 12 months is workable
- Rate-and-term and cash-out structures both available
- Bank statement or DSCR documentation paths, your choice
Client Loyalty Program
If Art has helped you before, you may qualify for preferred rates not available to the general public. Loyalty works both ways. Art's returning clients get the best pricing he can offer.
Loyalty: Key Facts
- Applies once your past file with Art is confirmed
- No minimum time since your last closing
- Extends to refinances of the home Art helped you buy
- One quick call confirms your status
Find the Right Program
at a Glance
| Program | Min Down | Min Credit | PMI | Gov Backed | Best For |
|---|---|---|---|---|---|
| FHA | 3.5% | 580 | Yes (life of loan) | ✓ | First-time buyers, lower credit |
| VA | $0 | 580 | Never | ✓ | Veterans, active military |
| USDA | $0 | 640 | Low fee | ✓ | Rural/suburban eligible areas |
| Conventional | 3% | 620 | Drops at 20% | ✕ | Strong credit, long-term savings |
| Jumbo | 10% | 700 | Varies | ✕ | High-value, Lake Tahoe, luxury |
| Bank Statement | 10% | 660 | Varies | ✕ | Self-employed, business owners |
| DSCR | 20% | 660 | Varies | ✕ | Real estate investors |
| DPA Grant | $0 effective | 580 | Varies | ✓ | Buyers needing down payment help |
Minimum requirements shown are general guidelines. Actual requirements vary by lender, property type, and borrower profile. Contact Art for your specific qualification review.
“I believe a mortgage loan must be a clear and educated decision. Everything on this site is free, in English and Spanish: guides, calculators, programs, and Important Numbers. No closed doors, no signup, no catch.”
Loan Program FAQ
Which program is best for a first-time buyer?
FHA is the most popular for first-time buyers because of the low 3.5% down payment and flexible credit requirements. However, if you are a veteran, VA is almost always the better choice. And if your property is in a rural or suburban area, USDA gives you zero down. Art will review all options and tell you which one actually saves you the most money long-term. Learn about first-time buyer programs from HUD.
What credit score do I need to buy a home?
FHA allows as low as 580 with 3.5% down. Conventional typically starts at 620. VA and USDA are flexible but most lenders want 580 to 620. If your score is lower, Art will give you a specific action plan to get there. He has helped many clients improve their score and come back to close within 3 to 6 months. See the CFPB loan options guide for credit benchmarks.
Can I buy a home with no money down?
Yes. VA loans offer zero down for eligible veterans and military. USDA loans offer zero down for eligible rural and suburban properties. Down Payment Assistance programs can also effectively eliminate your out-of-pocket down payment. Art will tell you in one call whether you qualify for any of these options. Verify VA eligibility at VA.gov or USDA at USDA Rural Development.
I am self-employed. Can I still get a mortgage?
Absolutely. Art's Bank Statement Loan program qualifies you using 12 to 24 months of deposits, not your tax returns. Self-employed buyers often show lower income on paper due to write-offs. Art has a specific program for exactly this situation and closes these loans regularly.
What is the difference between FHA and Conventional?
FHA has lower credit and down payment requirements but carries mortgage insurance for the life of the loan in many cases. Conventional has stricter credit requirements but PMI drops off once you reach 20% equity. For buyers who can qualify for conventional, it is usually the better long-term value. Art will run both scenarios and show you the real numbers. Compare FHA at HUD and Conventional at Fannie Mae.
How long does the mortgage process take?
A standard purchase loan typically closes in 21 to 30 days. FHA, VA, and USDA Streamline refinances can close faster. Art manages the entire process and keeps you informed at every step. You will never wonder where your loan stands when working with Art. See the CFPB homebuying process guide.
Not Sure Which Program
Is Right for You?
One free 10-minute call with Art will tell you exactly which program fits your situation, your budget, and your goals. No pressure. No obligation. Just straight answers.
775-404-0006Call or text anytime · Se Habla Español
Free guides. Free calculators. Free programs. Free Important Numbers. English and Spanish. No signup ever. Art Loera. NMLS #367308.