What are the FHA loan requirements in Nevada for 2025?

Nevada FHA loan requirements for 2025 include: 580 minimum credit score for 3.5% down (or 500 credit score with 10% down), maximum 50% debt-to-income ratio, 3.5% minimum down payment, steady employment history (2+ years), primary residence occupancy, property must meet FHA appraisal standards, and loan amount within Nevada county limits ($498,257-$571,950 depending on county).

Can I buy a house in Las Vegas with bad credit using FHA?

Yes, FHA loans in Las Vegas accept credit scores as low as 580 (3.5% down) or 500 (10% down). Many Nevada lenders offer manual underwriting for borrowers with non-traditional credit. If your credit score is below 580, work on improving it for 6-12 months before applying, or consider down payment assistance programs that may help compensate for lower credit.

What is the maximum FHA loan amount in Nevada?

2025 FHA loan limits in Nevada vary by county: Clark County (Las Vegas, Henderson) - $498,257; Washoe County (Reno, Sparks) - $571,950; Carson City - $571,950. Rural Nevada counties range from $498,257 to $571,950. Multi-unit properties have higher limits (2-unit: up to $638,100-$732,050; 3-unit: up to $771,450-$884,700; 4-unit: up to $958,350-$1,099,450).

How much money do I need upfront for an FHA loan in Nevada?

Typical upfront costs for Nevada FHA loans: 3.5% down payment ($14,000 on $400K home), 1.75% upfront MIP ($7,000 on $400K - can be financed), 2-5% closing costs ($8,000-$20,000 - sellers can contribute up to 6%). Total cash needed: $15,000-$25,000 out of pocket, though down payment assistance programs can reduce this significantly. Gift funds from family can cover 100% of down payment.

How accurate are these mortgage calculators?

Our calculators use industry-standard formulas and current market data to provide accurate estimates. However, actual loan terms depend on your credit profile, income verification, property appraisal, and lender-specific requirements. For a precise quote tailored to your situation, contact our team for a pre-approval.

Will using these calculators affect my credit score?

No. Using our calculators does not require a credit check and will not impact your credit score in any way. You can explore your options freely and use the tools as many times as you like without any effect on your credit.

What's included in my monthly mortgage payment?

Your monthly mortgage payment typically includes four components (PITI): Principal (the loan amount you're repaying), Interest (the lender's charge), property Taxes (collected in escrow), and Insurance (both homeowner's insurance and PMI if you put down less than 20%). Some payments may also include HOA fees if applicable.

What is a good debt-to-income ratio for a mortgage?

Most lenders prefer a DTI ratio of 43% or lower for conventional loans, though some programs (especially FHA and VA loans) may allow higher ratios. A lower DTI ratio improves your chances of approval and may qualify you for better rates. Your DTI is calculated by dividing your total monthly debt payments by your gross monthly income.

How much do I need for a down payment?

Down payment requirements vary by loan type. Conventional loans typically require 3-20%, FHA loans require as little as 3.5%, VA loans offer 0% down for eligible veterans, and USDA loans also offer 0% down in eligible rural areas. A 20% down payment eliminates the need for private mortgage insurance (PMI).

Can I remove PMI from my mortgage?

Yes. For conventional loans, PMI can typically be removed once you reach 20% equity in your home through a combination of payments and appreciation. You may need to request removal and pay for an appraisal. PMI is automatically terminated once you reach 22% equity. FHA loans have different MIP rules that may require refinancing to remove.

Edited by Vatche Saatdjian — 30+ years experience — Conventional loan expert

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Understanding your mortgage numbers

Monthly Payment Components: Your mortgage payment typically includes four parts (PITI): Principal (loan amount), Interest (lender's charge), property Taxes, and Insurance (homeowner's insurance and possibly PMI).

Debt-to-Income Ratio: Lenders use your DTI to determine how much you can borrow. Most lenders prefer a DTI below 43%, though some programs allow higher ratios.

Down Payment Impact: A larger down payment reduces your loan amount, lowers monthly payments, and may eliminate PMI if you put down 20% or more.

Interest Rate Sensitivity: Even a small change in interest rate can significantly impact your monthly payment and total interest paid over the life of the loan.

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