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.

What credit score do I need to get the best mortgage rate in Nevada?

To qualify for the best mortgage rates in Nevada, aim for a credit score of 740 or higher. However, you can still get competitive rates with scores as low as 620 for conventional loans or 580 for FHA loans. VA loans are more flexible with credit requirements. Your actual rate will depend on your complete financial profile, including down payment, debt-to-income ratio, and loan type.

How often do mortgage rates change?

Mortgage rates can change daily, and sometimes multiple times throughout the day, based on market conditions, economic data, and Federal Reserve policy. That's why it's important to lock your rate once you've found a favorable offer. Valley West Mortgage offers rate locks for 30-60 days to protect you from rate increases while your loan is being processed.

What's the difference between interest rate and APR?

The interest rate is what you pay annually on the borrowed amount. APR (Annual Percentage Rate) includes the interest rate plus additional costs like origination fees, discount points, and closing costs, giving you a more complete picture of the loan's total cost. When comparing mortgage offers, always look at both the interest rate and APR.

Can I negotiate my mortgage rate?

Yes, mortgage rates are negotiable. You can improve your rate by shopping multiple lenders, increasing your down payment, improving your credit score, or buying discount points. Valley West Mortgage works with you to find the most competitive rate based on your financial situation.

Should I choose a 15-year or 30-year mortgage?

15-year mortgages offer lower interest rates and you'll pay significantly less interest over the life of the loan, but monthly payments are higher. 30-year mortgages have lower monthly payments, making homeownership more affordable, though you'll pay more interest overall. The best choice depends on your budget and financial goals.

Are Nevada mortgage rates different from national rates?

Nevada mortgage rates are generally in line with national averages, but can vary slightly based on local market conditions, property values, and state regulations. Las Vegas, Henderson, Reno, and other Nevada cities may have slight rate variations. Working with a local Nevada lender like Valley West Mortgage ensures you get rates competitive with both local and national markets.

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

TODAY'S RATES

You probably qualify for today's rates

Nevada FHA rates updated daily. See your personalized rate—no credit check, no obligation. Most first-time buyers qualify with 3.5% down.

30-Year Fixed FHA

From 6.78%

15-Year Fixed FHA

From 6.09%

Why your rate is unique

Your actual rate depends on credit score, down payment, and loan amount. These "from" rates assume excellent credit (740+). Most FHA buyers still qualify with 580-680 credit at slightly higher rates.

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No credit check • Updated daily • NMLS #65506

Nevada couple checking personalized FHA mortgage rates on laptop in their home

Today's Mortgage Rates by Loan Type

Compare rates across different loan programs. Actual rates depend on credit score, down payment, and property location.

FHA Loans

Government-backed • 3.5% down

From

6.875%

6.950% APR

30-year fixed estimate

$1,578/mo

Based on $250,000 loan

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VA Loans

Veterans • $0 down • No PMI

From

6.625%

6.700% APR

30-year fixed estimate

$1,601/mo

Based on $250,000 loan

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Conventional

Traditional • 3-20% down

From

6.750%

6.825% APR

30-year fixed estimate

$1,621/mo

Based on $250,000 loan

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Jumbo Loans

High-value • $766,551+

From

7.000%

7.075% APR

30-year fixed estimate

$5,122/mo

Based on $800,000 loan

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Rate Disclaimer: The rates shown above are sample rates and are subject to change without notice. Your actual rate will depend on multiple factors including credit score, loan-to-value ratio, loan amount, property type, occupancy, and location. All loans are subject to credit approval and property appraisal. Contact Valley West Mortgage for a personalized rate quote. NMLS #65506.

What Affects Your Mortgage Rate?

Understanding these factors can help you secure the best possible rate on your Nevada home loan.

Credit Score

Higher credit scores (740+) typically qualify for the lowest rates. FHA loans accept scores as low as 580, while conventional loans prefer 620+.

Down Payment

Larger down payments (20%+) often result in lower rates and eliminate PMI on conventional loans. FHA requires 3.5% minimum, VA offers $0 down.

Loan Amount & Type

Loan type (FHA, VA, Conventional, Jumbo) and amount affect your rate. Jumbo loans above conforming limits typically have higher rates.

Property Type & Location

Primary residences get better rates than investment properties. Nevada property location and local market conditions also impact pricing.

Debt-to-Income Ratio (DTI)

Lower DTI ratios (under 43%) demonstrate stronger financial health and can qualify you for better rates.

Fixed vs. Adjustable Rates

Fixed-Rate Mortgages

Most popular option. Your interest rate stays the same for the entire loan term (15 or 30 years), providing payment stability and predictability.

Predictable monthly payments

Protection from rate increases

Easier to budget long-term

Adjustable-Rate (ARM)

Lower initial rate for a fixed period (5, 7, or 10 years), then adjusts annually. Best if you plan to sell or refinance before adjustment.

Lower initial rate

Good for short-term ownership

Rate caps protect against spikes

Rate Lock Protection

Lock your rate for 30-60 days while your loan is processed. This protects you from rate increases during closing.

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Mortgage Rate Questions

Get answers to common questions about Nevada mortgage rates

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