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

Loan Comparison for Veterans

VA Loans vs Conventional Loans: Nevada

As a Nevada veteran, you have options. Compare zero-down VA benefits against conventional mortgages to find the best loan for your situation in Las Vegas, Reno, or Henderson.

Find Your Best Loan Option View comparison chart

VA: $0 Down 100% financing

No PMI Ever VA advantage

Lower Rates often available

lease, rental and selling home. Real estate agent hold key for new house or realestate. rent house, Sales, loan credit financial, insurance, Seller, dealer, installment, buy, sell, move in

Side-by-Side Comparison: VA vs Conventional

See exactly how VA and Conventional loans stack up across key factors for Nevada homebuyers

Feature	VA Loans	Conventional Loans
Down Payment Minimum required upfront	0% $0 down on any purchase price	3-20% Typically 5-10% for most buyers
Mortgage Insurance Monthly PMI/MIP costs	$0/mo No monthly PMI ever (funding fee only)	$50-300/mo Required if down payment under 20%
Interest Rates Typical 30-year fixed Nevada rates	6.25% Often 0.25-0.50% lower than conventional	6.50% Competitive but typically higher
Credit Score Minimum Lender typical requirements	580-620 More flexible for veterans	620-680 Higher scores get better rates
Debt-to-Income Ratio Maximum DTI allowed	Up to 60% More lenient with residual income test	Up to 50% Typically 43-45% for most lenders
Closing Costs Typical fees on $400K Nevada home	$10-12K Includes 2.15% funding fee (can finance)	$8-10K Standard lender/title fees
Property Types Allowed Eligible property restrictions	Primary Only Must be your primary residence (but can buy 1-4 units)	Any Use Primary, second home, or investment
Loan Limits (Nevada) Max purchase price (2025)	No Limit Buy homes at any price (w/ down payment over $806,500)	$806,500 Conforming limit; jumbo above this

Feature

VA Loans

Conventional Loans

Down Payment

Minimum required upfront

0%

$0 down on any purchase price

3-20%

Typically 5-10% for most buyers

Mortgage Insurance

Monthly PMI/MIP costs

$0/mo

No monthly PMI ever (funding fee only)

$50-300/mo

Required if down payment under 20%

Interest Rates

Typical 30-year fixed Nevada rates

6.25%

Often 0.25-0.50% lower than conventional

6.50%

Competitive but typically higher

Credit Score Minimum

Lender typical requirements

580-620

More flexible for veterans

620-680

Higher scores get better rates

Debt-to-Income Ratio

Maximum DTI allowed

Up to 60%

More lenient with residual income test

Up to 50%

Typically 43-45% for most lenders

Closing Costs

Typical fees on $400K Nevada home

$10-12K

Includes 2.15% funding fee (can finance)

$8-10K

Standard lender/title fees

Property Types Allowed

Eligible property restrictions

Primary Only

Must be your primary residence (but can buy 1-4 units)

Any Use

Primary, second home, or investment

Loan Limits (Nevada)

Max purchase price (2025)

No Limit

Buy homes at any price (w/ down payment over $806,500)

$806,500

Conforming limit; jumbo above this

VA Loan Wins

Zero down payment – buy with no savings
No monthly PMI – saves $100-300/month
Lower interest rates – typically 0.25-0.50% less
More lenient qualification – higher DTI allowed
No loan limits – buy expensive Nevada homes

Conventional Wins

Investment properties allowed – not just primary residence
No VA funding fee – saves $8-9K upfront (but you pay PMI monthly if under 20% down)
Faster closing – less paperwork, no VA appraisal wait
More property flexibility – fewer condition requirements
Can use repeatedly – no entitlement restrictions

Let Us Help You Decide

Talk to a Nevada loan specialist about your unique situation

Which Loan Is Right for Your Nevada Home?

The best choice depends on your military status, financial situation, and homebuying goals. Here's how to decide.

Choose VA Loan If You:

Are an eligible veteran, active-duty service member, or qualifying spouse
Want $0 down payment and no monthly mortgage insurance
Have limited cash for down payment and closing costs
Plan to live in the home as your primary residence
Want the lowest possible monthly payment
Have a credit score of 580+ (more flexible than conventional)

Best For:

Veterans and service members buying their primary home in Nevada with limited funds for down payment.

Choose Conventional If You:

Don't have VA eligibility or want to preserve your VA entitlement
Can afford 5-20% down payment to avoid PMI or get better rates
Have excellent credit (740+) to qualify for the lowest rates
Are buying a second home, vacation property, or investment property
Want to buy a high-priced home above VA loan limits
Prefer more flexibility in property types and conditions

Best For:

Non-veterans or buyers with strong credit and down payment funds seeking flexible loan terms.

Find the Best Loan for You

Speak with a Nevada loan specialist to compare options

Real Nevada Cost Comparison

See the actual cost difference on a typical Nevada home purchase of $450,000

VA Loan

Home Price $450,000

Down Payment $0 (0%)

Loan Amount $450,000

VA Funding Fee (2.15%) $9,675

Interest Rate 6.25%

Monthly P&I $2,830

Mortgage Insurance $0

Property Tax + Insurance $650

Total Monthly Payment $3,480

Cash Needed at Closing:

~$12,000

Closing costs only (can be financed or seller-paid)

Conventional Loan

Home Price $450,000

Down Payment (5%) $22,500

Loan Amount $427,500

VA Funding Fee N/A

Interest Rate 6.50%

Monthly P&I $2,702

Mortgage Insurance (PMI) $214

Property Tax + Insurance $650

Total Monthly Payment $3,566

Cash Needed at Closing:

~$35,000

Down payment + closing costs

Monthly Savings with VA

$86

per month

Upfront Savings with VA

$23,000

less cash needed

30-Year Savings with VA

$31,000

total savings

Note: VA loans typically offer lower rates than conventional loans, but we used conservative estimates. Your actual savings may be higher.

Get Your Personalized Comparison

Common Scenarios: Which Loan Wins?

Real-world Nevada homebuying situations and the best loan option for each

Active-Duty Service Member, First Home

"I'm stationed at Nellis AFB and want to buy a home in Las Vegas. I have $15,000 saved but want to keep it for emergencies."

Winner: VA Loan

Use your VA benefit with $0 down, keep your savings intact, and enjoy no PMI. Perfect for military families who relocate frequently and want to preserve cash for unexpected PCS orders.

Veteran with Excellent Credit, Second Home

"I'm a veteran with a 780 credit score buying a vacation home in Lake Tahoe. I already used my VA loan on my primary residence."

Winner: Conventional Loan

VA loans require owner-occupancy, so conventional is your only option for second homes. Your excellent credit will secure a great rate, and 10-15% down eliminates PMI concerns.

Veteran Upgrading to Luxury Home

"I'm buying a $1.2M home in Henderson. I can put 20% down and want the absolute lowest rate possible."

Winner: VA Loan (Still!)

VA loans have no maximum limit in most Nevada counties. Even with 20% down capability, VA rates are typically 0.25-0.50% lower than conventional, saving you $200-400/month on a $1M+ loan. No PMI sweetens the deal.

Non-Veteran with Strong Finances

"I'm not a veteran, have a 760 credit score, and $80,000 saved for down payment on a $400,000 home in Reno."

Winner: Conventional Loan

With 20% down ($80K), you avoid PMI entirely and lock in excellent conventional rates with your high credit score. Your strong financial position makes conventional the perfect fit.

Veteran Buying Investment Property

"I want to buy a rental property in Las Vegas for passive income. I'm a veteran but this won't be my primary residence."

Winner: Conventional Loan

VA loans require you to occupy the home. For investment properties, conventional loans are required. However, consider buying a 2-4 unit property with VA, living in one unit, and renting the others (house hacking)!

Still Not Sure Which Loan Is Right?

Every situation is unique. Our Nevada loan specialists will analyze your specific finances, goals, and eligibility to recommend the best option.

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VA vs Conventional FAQ

Answers to the most common questions Nevada homebuyers ask about these two loan options

Compare Your Loan Options Now

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