Financing your home IN RENO, NV

Financing made possible with people that care.

A FINANCE TEAM YOU CAN TRUST

FINANCING YOUR HOME, STRESS FREE

Financing your home and the process of obtaining funds can be a daunting task for even the most seasoned real estate buyers, Cal Lewis has teamed up with Northern Nevada’s best real estate financing professionals to make sure that you have the most information possible to make the most informed decisions. 

 Aside from these finance professionals being the best in the Reno Area, they are also a group of high character individuals. Buying a home is no small matter and Cal only trusts a select group of people to handle the finances for his most important client, you.

When looking for a home, the best possible thing to do is first speak with one of his trusted financial partners and get the whole picture. Click the button below to schedule a meeting. *Due to Covid-19, all financial meetings will  

EXPLORE MORTGAGE TYPES & MORTGAGE LOAN OPTIONS

30 Year Fixed Rate

A 30 Year fixed rate mortgage ensures that your interest rate will not change. This makes it easier to budget as the monthly repayments stay at a fixed rate over 30 years regardless of the housing market. Many homebuyers favor this option for the long-term security it provides.

 

15 Year Fixed Rate

A 15 Year fixed rate mortgage must be paid off in half the time of the 30 Year alternative, but it’s a popular option that can quickly build equity and provide the borrower with a lower interest rate. It can be also be beneficial for those seeking to retire within 30 years as they will not have to make repayments in retirement.

Conventional Loan

A conventional loan is not insured or guaranteed by the government, which means they offer fewer restrictions and allow lenders to build terms specific to their borrowers. Conventional loans request smaller down payments, as little as 3% of the total cost. 

FHA

An FHA loan is a mortgage insured by the Federal Housing Administration, backed by the federal government, and is often a viable option for homebuyers who do not qualify for a conventional loan. A FHA loan may also be suitable for self-employed individuals with unpredictable income.

 

VA Loan

A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs. They are offered exclusively to active duty and veteran service members and certain military spouses. The benefits of a VA loan can be exceptional: lower interest rates, no required down payment, no prepayment penalty, and no monthly mortgage insurance premiums.

ARM

An adjustable rate mortgage (ARM) can offer upfront savings if the loan’s initial interest rate is lower than fixed rate mortgage types. ARMs may come with a fixed period where the interest rate remains the same and then after that period the rate adjusts to the market, changing either monthly or yearly. 

Buydown Lown

A mortgage rate buydown** is when a borrower pays an additional charge (called a “point”) in exchange for a temporary lower interest rate and lower payment on their mortgage. This one-time fee is paid at closing by the borrower.

 

I CAN Mortgage

An I Can mortgage type is one where borrowers can negotiate the term length by working with a team of mortgage professionals to determine what works well within a set budget. This mortgage can allow borrowers to build home equity faster with options to refinance with a lower interest rate and shorter term. 

Reverse Mortgage

This option is suitable for older homeowners as it allows them to convert some of their home equity into cash.  This means the lender makes monthly payments to the borrower, and the borrower does not have to pay this reverse mortgage back until the home is sold.

 

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Cal Lewis is trusted as one of Reno Nevada’s best Real Estate Agents because of his deep Northern Nevada Roots and unmatched knowledge. Click any of the Reno Real Estate Blog & News posts below to learn and grow in your real estate knowledge. 

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