Find the right mortgage program for your situation. Compare down payments, credit requirements, and monthly costs side-by-side.
Reviewed by CEO Vatche Saatdjian — 30+ years — Nevada mortgage expert
Switch between programs to see requirements, benefits, and ideal use cases at a glance.
Most popular first-time buyer option with flexible credit
Exclusive benefit for eligible veterans and service members
Flexible option for strong credit profiles and larger down payments
See how FHA, VA, and Conventional loans stack up across key requirements and costs.
| Feature | FHA Loan | VA Loan | Conventional |
|---|---|---|---|
| Down Payment | 3.5% minimum | 0% (if eligible) | 5-20% typical |
| Credit Score | 580+ for 3.5% down | 620+ typical | 620+ minimum |
| Mortgage Insurance |
Required (MIP) 1.75% upfront + annual |
None Funding fee instead |
Required if <20% down Can be removed later |
| Property Type | Primary residence | Primary residence | Primary, 2nd home, investment |
| Eligibility | All buyers | Veterans/active duty only | All buyers |
| 2026 Nevada Loan Limits | $524,225 (Clark County) | $806,500 (full entitlement) | $806,500 (conforming) |
*Loan limits, rates, and requirements subject to change. Down payment and credit score requirements may vary by lender. Contact us for current program details.
Use these decision guides to find your best fit based on your unique situation.
Answer a few quick questions and we'll recommend the best loan program for your situation.
Takes 2-3 minutes • No credit impact • Free consultation
Get answers to the most frequently asked questions about choosing between loan programs.
Yes! Many Nevada borrowers qualify for 2-3 loan types. For example, a veteran with good credit might qualify for both VA and Conventional loans. We'll analyze your situation and show you the pros/cons of each option, then help you choose the best fit based on your down payment, monthly budget, and long-term goals.
It depends on your down payment and credit score:
We'll calculate exact payment scenarios for your situation so you can compare apples-to-apples.
Yes, you can switch loan types before you lock your rate, usually up until a few weeks before closing. If your financial situation changes or you discover you're eligible for a better program, we can adjust your loan type. It's one advantage of working with a mortgage broker who can access multiple loan programs.
FHA loans are designed for borrowers with less-than-perfect credit. You can qualify with a 580 credit score (or 500 with 10% down). If your credit score is 620-679, FHA is often your best option. Above 680, you may get better terms with Conventional. Veterans qualify for VA loans with credit scores as low as 620 (lender-dependent).
Most Nevada down payment assistance programs work with FHA, VA, and Conventional loans. Programs like Nevada Housing Division's Down Payment Assistance can provide $5,000-$12,000 toward your down payment and closing costs. We'll help you find and apply for programs you're eligible for.
Typical Nevada closing timelines: FHA loans typically close in 30-45 days, VA loans in 35-50 days (COE verification adds time), and Conventional loans in 25-40 days. Timeline varies based on appraisal scheduling, documentation completeness, and underwriting workload. We prioritize fast closings and will work with you to meet your target closing date.
Have more questions about which loan is right for you?
Talk to a Nevada Mortgage SpecialistGet pre-qualified and see exactly what you qualify for across FHA, VA, and Conventional programs.
NMLS #65506 • Licensed in Nevada • Equal Housing Lender