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 buy a home in Nevada?

Minimum credit scores vary by loan type: FHA loans typically require 580+, VA loans around 620+ (though some lenders may go lower), and conventional loans usually 620-640+. However, higher scores (700+) generally get better rates and terms. If your credit needs work, consider spending 3-6 months improving it before applying.

How much do I need for a down payment in Nevada?

Down payment requirements depend on your loan type: VA loans require 0% down for eligible veterans, FHA loans require 3.5% minimum, and conventional loans can be as low as 3% for first-time buyers or 5% for repeat buyers. Putting 20% down eliminates mortgage insurance (PMI/MIP) and can improve your rate.

How long does it take to close on a house in Nevada?

Most Nevada home purchases close in 30-45 days from the date your offer is accepted. Factors that can extend this timeline include appraisal delays, underwriting conditions, or issues with title/HOA documents. Cash purchases or streamline refinances can close faster, sometimes in 2-3 weeks.

Are Nevada property taxes high?

No — Nevada has some of the lowest property tax rates in the United States. Most Nevada counties have effective property tax rates between 0.6% and 0.8% of assessed value. For comparison, the national average is around 1.1%. This makes Nevada homeownership more affordable over time compared to many other states.

Can I buy a house in Nevada if I'm self-employed?

Yes! Self-employed buyers can absolutely qualify for Nevada mortgages. You'll typically need to provide 2 years of personal and business tax returns, along with a current profit & loss statement. Lenders use your net income (after business expenses) to calculate qualification, so work with a lender who understands self-employment income documentation.

What's the difference between pre-qualification and pre-approval?

Pre-qualification is an informal estimate based on information you provide (no verification). Pre-approval is a formal process where your lender reviews your credit, income, and assets with documentation — resulting in a commitment letter. In competitive Nevada markets like Las Vegas and Henderson, sellers strongly prefer offers with full pre-approval letters.

Do I need to pay for a home inspection in Nevada?

Home inspections are optional but highly recommended. They typically cost $400-600 in Nevada and can uncover issues like HVAC problems, roof condition, plumbing leaks, or electrical concerns. In Nevada's desert climate, inspections often reveal issues specific to hot weather wear — well worth the investment to avoid expensive surprises after closing.

Can sellers help with my closing costs in Nevada?

Yes — seller concessions (seller-paid closing costs) are allowed in Nevada and are negotiated as part of your purchase offer. Most loan types allow sellers to contribute 3-6% of the purchase price toward your closing costs, which can reduce your upfront cash requirements significantly. This is more common in buyer-friendly markets.

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

Nevada-Specific Guide • Updated Jan 2026

Nevada Mortgage Process: Complete 7-Step Guide (2026)

The complete Nevada mortgage roadmap from pre-approval to keys in hand. Learn exactly what happens at each stage, how long each step takes, what documents you'll need, and how to avoid the delays that cost Nevada buyers thousands.

7 Steps

Clear process from start to finish

30-45 Days

Typical Nevada closing timeline

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Quick Overview: Nevada Mortgage Timeline

The complete Nevada mortgage process typically takes 30-45 days from application to closing, though you can get pre-approved in as little as 24 hours. Here's what to expect:

1

Pre-Approval (1-3 days) — Get your max budget and show sellers you're serious

2

Home Search & Offer (varies) — Find your home and make a competitive offer

3

Full Application (1 day) — Submit complete loan application after offer acceptance

4

Document Collection (3-7 days) — Provide income, assets, and property docs

5

Underwriting & Appraisal (10-20 days) — Loan review and property valuation

6

Clear to Close (3-5 days) — Final approval and closing disclosure review

7

Closing & Funding (1 day) — Sign papers, transfer funds, get your keys

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Who this guide is for

This guide is designed for anyone navigating the Nevada mortgage process—whether you're buying for the first time or refinancing

First-time buyers who want a simple timeline

Understand the full process from pre-approval to keys in hand, with clear steps and realistic timelines

Buyers writing offers and needing confidence

Know exactly what happens after your offer is accepted so you can move forward with clarity

Refinance borrowers comparing options

Learn how the refinance process works and what documentation you'll need to streamline approval

Anyone who wants fewer surprises in underwriting

Get ahead of common delays by knowing what underwriters look for and how to prepare your documents early

Key takeaways

Pre-approval comes before shopping seriously (and it strengthens offers).
Underwriting is where most delays happen—docs fix that.
Appraisal and title are parallel tracks; both affect closing dates.
"Cash to close" is not just down payment—plan for total funds needed.
A clean, consistent file helps you close faster and with less stress.

The 7-step mortgage process (from pre-approval to closing)

Here's what happens at each stage, what you'll need to do, and how to avoid delays

1

Step 1: Pre-approval (your foundation)

Pre-approval is a lender reviewing your basic financial profile to estimate what you can qualify for.

What you do:

• Share income basics, assets, debts, and permission to review credit
• Provide initial documents (paystubs, W-2s, bank statements, etc.)

What you get:

• A price/payment range and a stronger position when making offers

Check eligibility

2

Step 2: Home shopping + offer (or refinance plan)

Buyer version: Choose a home, write an offer, and include a realistic closing timeline.

Refinance version: Decide your goal: lower payment, shorten term, cash-out, or consolidate.

Pro tip

Don't shop only by rate—compare total monthly payment and total cost. Use the payment calculator for a clean breakdown.

Estimate my payment

3

Step 3: Application + initial disclosures

You complete the full application and confirm details. You'll receive required disclosures and timelines.

4

Step 4: Document collection (the "speed lever")

This is where most delays happen. A clean file moves faster through underwriting.

Most common documents:

• ID + SSN verification
• Income: paystubs/W-2s (or self-employed docs)
• Assets: bank statements, retirement accounts (if needed)
• Housing: rental history (sometimes), current mortgage (refi)

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The #1 delay is missing/unclear documents. A clean file moves faster through underwriting.

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5

Step 5: Underwriting + appraisal (where decisions happen)

Underwriting: An underwriter verifies your income, assets, debts, and the property fit.

Appraisal: Confirms property value and may flag required repairs (loan-type dependent).

6

Step 6: Closing Disclosure + final review

You receive the Closing Disclosure (CD) outlining final numbers at least 3 business days before closing.

Review carefully: rate/terms, cash to close, escrow, and fees.

7

Step 7: Closing day + what happens after

You sign closing documents (in person or remote where available). Bring a government-issued ID and your cashier's check or wire confirmation for closing costs and down payment.

Funding/recording timing can vary by transaction type. In Nevada, closings typically happen at a title company.

After closing: Servicing may transfer; keep your first payment schedule handy.

Total Timeline

30-45 Days

From application to closing (typical for most Nevada buyers)

Nevada notes that can affect your timeline

Local factors that can impact your mortgage process in Nevada

HOA details

HOAs can require docs and processing time. Build it into your schedule. Many Las Vegas suburbs have active HOAs with specific document requirements.

Appraisal timing

Scheduling can shift seasonally. Early ordering helps, especially during busy spring and summer markets in Nevada.

Insurance + escrow setup

Insurance timing matters; confirm coverage quickly to avoid closing delays. Desert climate considerations may affect insurance costs.

How the process changes by loan type

FHA, VA, and Conventional loans follow the same basic steps, but with some key differences

Documents You'll Need (Nevada Mortgage Checklist)

Gather these documents before applying to speed up your approval

Income Verification

Last 2 years W-2 forms
Last 2 years federal tax returns (if self-employed or claiming rental income)
Most recent 30 days of pay stubs
Proof of additional income (bonuses, commissions, social security, pension)

Asset Documentation

Last 2 months bank statements (checking & savings)
Investment account statements (401k, IRA, stocks)
Gift letter (if using gift funds for down payment)
Explanation for large deposits (over $1,000)

Personal Identification

Government-issued photo ID (driver's license or passport)
Social Security number or ITIN
Proof of current address (utility bill or lease)

Property & Additional Items

Purchase agreement (once you have an accepted offer)
HOA documents (if buying in a community with an HOA)
Divorce decree or separation agreement (if applicable)
Bankruptcy or foreclosure discharge papers (if applicable)

Download the Full Nevada Checklist

Get a printable PDF checklist to keep track of your documents

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What Buying Costs in Nevada (Real Numbers)

Understanding your upfront and ongoing costs helps you budget accurately

Upfront Costs

Down Payment 0% - 20%

Depends on loan type. VA = 0%, FHA = 3.5%, Conventional = 3-20%

Closing Costs 2% - 5%

Includes lender fees, title insurance, escrow, appraisal, and recording fees

Earnest Money Deposit 1% - 3%

Held in escrow, applied toward down payment or closing costs at closing

Home Inspection $400 - $600

Optional but highly recommended; varies by property size and location

Example on a $400,000 Las Vegas Home:

• Down payment (5%): $20,000
• Closing costs (3%): $12,000
• Total cash needed: ~$32,000

Ongoing Monthly Costs

Principal & Interest Varies by rate & loan amount

Your mortgage payment, based on rate, term, and loan amount

Property Taxes (Nevada) ~0.6% - 0.8%

Nevada's property tax rates are relatively low; varies by county (Clark, Washoe, etc.)

Homeowners Insurance $100 - $200/mo

Required by lenders; cost varies by coverage amount and property location

HOA Fees (if applicable) $50 - $400/mo

Common in Las Vegas suburbs like Summerlin, Henderson, and Enterprise

PMI or MIP (if under 20% down) $50 - $300/mo

Mortgage insurance; amount depends on down payment and loan type

Total Monthly Payment Estimate:

• $400k home, 5% down, 7% rate
• P&I: ~$2,530 | Taxes: ~$250 | Insurance: ~$150
• Total: ~$2,930/month (before HOA/PMI)

Calculate Your Nevada Payment

Use our tools to estimate your monthly payment with Nevada-specific costs

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What's Different About Nevada Mortgages?

Unique considerations for buying in the Silver State

Low Property Taxes

Nevada has some of the lowest property tax rates in the U.S., typically 0.6-0.8% of assessed value. Clark County (Las Vegas) and Washoe County (Reno) rates are below the national average, making homeownership more affordable long-term.

HOA Prevalence

Many Nevada communities — especially in Las Vegas suburbs like Summerlin, Henderson, and Enterprise — have mandatory HOA fees. Review HOA documents carefully for fees, rules, and special assessments before making an offer.

Non-Judicial Foreclosure State

Nevada is a non-judicial foreclosure state, meaning lenders can foreclose without going to court (though borrower protections exist). Understanding this helps you plan contingencies and know your rights if financial challenges arise.

Desert Climate Considerations

During inspections, pay extra attention to HVAC systems, stucco condition, pool equipment, and landscaping. Desert heat puts extra wear on homes, and appraisers/inspectors look for climate-appropriate maintenance.

Competitive Market Dynamics

Las Vegas and Reno markets can be competitive, especially in desirable neighborhoods. Having a strong pre-approval letter, flexible closing timeline, and minimal contingencies helps your offer stand out to sellers.

Standard Purchase Agreements

Nevada uses standardized real estate forms with built-in financing contingencies. Work with a local real estate agent familiar with Nevada contracts to protect your interests and meet all deadlines.

Explore Nevada County Pages

Nevada Mortgage FAQs

Quick answers to common questions from Nevada home buyers

Ready to Start Your Nevada Home Journey?

Whether you're buying in Las Vegas, Henderson, Reno, or anywhere in Nevada, we're here to guide you through every step with transparency and local expertise.

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