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.

Edited and reviewed by CEO Vatche Saatdjian — 30+ years of experience — Expert on FHA loans

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Understanding Mortgage Amortization

What Is Amortization?

Amortization is the process of paying off your mortgage through scheduled payments over time. Each payment covers both interest and principal, gradually reducing your loan balance until it reaches $0.

In the early years, most of your payment goes toward interest. As you pay down principal, more of each payment reduces your loan balance. This shift accelerates equity building over time.

Example: $400,000 Loan at 7% for 30 Years

Year 1 Payment $2,328/month interest | $333/month principal

Year 15 Payment $1,547/month interest | $1,114/month principal

Year 30 Payment $154/month interest | $2,507/month principal

How Extra Payments Save Money

Making extra principal payments dramatically reduces total interest and shortens your loan term. Even small additional payments compound over time.

Example: $400,000 loan, 7%, 30 years

• No extra payments: 360 months, $558,000 total interest
• +$100/month extra: 318 months (3.5 years faster), $479,000 interest → Save $79,000
• +$300/month extra: 251 months (9 years faster), $380,000 interest → Save $178,000

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