FHA Loan Calculator for Nevada

FHA Loans in Nevada

FHA loans require a minimum 3.5% down payment (10% if credit score is 580-619). On Nevada's median home of $400,000, that's a minimum down payment of $14,000.

FHA Loan Limits in Nevada

FHA loan limits vary by county and are tied to conforming limits. In most Nevada counties, the FHA floor limit is $498,257 (2024). High-cost areas like certain counties may qualify for higher limits up to $1,149,825. Clark County (Las Vegas) and Washoe County (Reno) are at the standard conforming limit.

FHA vs Conventional in Nevada

FHA MIP (Mortgage Insurance Premium) is required regardless of down payment. Conventional loans eliminate PMI at 20% equity. With Nevada's median home at $400,000, buyers who can put down $80,000 (20%) are better served by conventional financing. FHA makes sense for buyers with limited savings or credit scores below 740.

Closing Costs

Nevada closing costs average $2,800. Nevada has no state income tax and no transfer tax at the state level, though counties charge a small transfer tax. Overall closing costs are below national averages. Sellers can contribute up to 6% of the purchase price toward FHA buyer closing costs.

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