Edited and reviewed by CEO Vatche Saatdjian — 30+ years of experience — Expert on FHA loans
FHA CREDIT REQUIREMENTS
FHA loans in Nevada accept credit scores as low as 580 (or even 500 with 10% down). If you've been told "no" by other lenders, we specialize in finding approval paths—even when automated systems decline you.
We approve 2 out of 3 applicants with 580-620 scores other lenders turn away. Our manual underwriting team finds approval paths when automated systems say no.
Takes ~60 seconds • No credit check • Your info stays private
FHA loans have the most flexible credit requirements of any mortgage program. Here's exactly what you need to qualify in Las Vegas, Henderson, Reno, and throughout Nevada.
3.5% Down
With a 580 or higher credit score, you qualify for FHA's minimum down payment of just 3.5%. This is the most popular FHA option for Nevada homebuyers and first-time buyers. On a $400K home, that's only $14,000 down.
10% Down
If your score is between 500-579, you can still get FHA approval but you'll need a 10% down payment. This is still lower than most conventional loans require (15-20% for similar credit). On a $400K home, you'll need $40,000 down.
Not Eligible
FHA loans are not available with credit scores below 500. However, we can help you build credit to reach the 500 threshold in 3-6 months, or explore alternative financing options like seller financing or lease-to-own.
Manual Review
FHA allows manual underwriting if you don't have enough credit history for a score. We'll use alternative credit like rent, utilities, insurance payments, and phone bills to qualify you. Common for young Nevada buyers or immigrants.
2-3 Years
FHA allows you to qualify just 2 years after Chapter 7 bankruptcy discharge (3 years after Chapter 13 discharge). Your credit score must be at least 580 for 3.5% down. Scores typically rebuild to 620-680 in this timeframe.
3 Years
You can qualify for FHA just 3 years after a foreclosure, short sale, or deed-in-lieu. This is much shorter than the 7-year waiting period for conventional loans, making FHA ideal for Nevada buyers rebuilding after housing crisis or financial hardship.
While FHA guidelines allow 580 scores, many Nevada lenders require 620-640 minimum due to overlays (additional lender requirements). We specialize in 580-620 approvals that other lenders decline. Our manual underwriting team reviews every application individually rather than relying solely on automated systems.
Typically require 640+ with minimal flexibility
True 580 minimum with manual underwriting expertise
Soft credit check • No obligation • Nevada decision in 24 hours
Your credit score affects more than just approval—it impacts your interest rate, monthly payment, and total loan cost. Here's what Nevada homebuyers need to know.
A 580 credit score vs. 740+ can mean a 1-1.5% rate difference. On a $400,000 Nevada home, that's $200-300 more per month, or $72,000-108,000 over 30 years.
Higher credit scores (680+) often get automated underwriting approval within 24-48 hours. Lower scores may require manual underwriting, adding 1-2 weeks to your timeline.
Nevada sellers often prefer buyers with 620+ scores because they're more likely to close. A strong credit pre-approval letter makes your offer more competitive in hot markets like Las Vegas and Henderson.
With 580+ credit, you qualify for FHA's 3.5% down minimum. Below 580, you'll need 10% down—that's $26,000 more on a $400,000 Nevada home purchase.
Proven methods to boost your credit score and improve your Nevada FHA loan approval odds within 30-90 days.
Keep credit card balances below 30% of your limit (under 10% is ideal). This can boost your score by 50-100 points within 30 days.
Pay cards multiple times per month before statement closing dates to keep reported balances low.
Review all three credit reports for errors. Up to 34% of consumers find mistakes that can be disputed and removed, instantly boosting scores.
Get free reports at AnnualCreditReport.com from Experian, Equifax, and TransUnion.
Payment history is 35% of your score. Set up automatic payments for utilities, phone, rent to avoid any late payments before applying.
Even one 30-day late payment can drop scores by 60-110 points. Keep current for 6+ months before applying.
Each hard inquiry can lower scores by 5-10 points. Stop applying for new credit cards, auto loans, or retail cards 6 months before FHA application.
Mortgage rate shopping within 45 days counts as one inquiry. Shop lenders within this window only.
Ask someone with excellent credit (parent, spouse) to add you as authorized user on their oldest card with low utilization.
Can increase scores by 20-50 points within 30 days. Works best if primary holder has 10+ years of history.
Services like Experian Boost, RentTrack, or Rental Kharma report rent payments to credit bureaus, adding positive payment history instantly.
Especially valuable for Las Vegas, Reno, Henderson renters with limited credit history. Free to use.
Pay down credit cards below 30% utilization, become authorized user on established account
Dispute and remove credit report errors, establish 2+ months of on-time payments
Collections removed, charge-offs settled, establish consistent payment patterns across accounts
Our Nevada FHA specialists can review your credit and create a personalized improvement plan
If you don't have traditional credit, FHA allows manual underwriting with alternative credit sources. Nevada homebuyers can qualify using:
12+ months of canceled checks or money orders showing timely rent payments to Nevada landlord
Electric, gas, water, internet, or phone bills in your name paid on time for 12+ months
Nevada car insurance premiums paid consistently for 12+ months with no lapses in coverage
Mobile phone account in your name with 12+ months of on-time payments documented
You'll need at least 3 types of alternative credit with 12-month payment history. No late payments allowed in past 12 months. Our Nevada FHA specialists handle manual underwriting regularly.
Over 40% of our approved Nevada FHA borrowers use alternative credit sources. You're in good hands.
Even with lower credit scores (580-620), Nevada FHA borrowers can strengthen their application with compensating factors that demonstrate financial responsibility and lower risk:
"I thought my 590 credit score would disqualify me, but with 15% down and 8 months of reserves, I was approved for my Las Vegas home. The team walked me through every compensating factor."
Get answers to common questions about credit requirements for FHA loans in Nevada.
Ready to see if you qualify with your current credit score?