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2025 requirements, loan limits, credit scores, and approval strategies
2025 Nevada Loan Limits
County-by-county breakdown for Clark, Washoe, all counties
Credit Score Requirements
Minimum scores, compensating factors, approval strategies
Payment Calculators
MIP calculator, affordability tools, closing cost estimators
Step-by-Step Process
Application to closing, document checklist, timeline
What's the minimum down payment for FHA?
3.5% with 580+ credit score. Full requirements →
What are 2025 Nevada FHA loan limits?
$498,257 for Clark and Washoe counties. County breakdown →
Are you a veteran? Consider VA first
VA loans offer 0% down with no mortgage insurance. Compare VA vs FHA →
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Discover how FHA loans make homeownership possible in Nevada with just 3.5% down, flexible credit requirements, and loan limits up to $644,000 in Las Vegas and Reno. Get approved faster with Valley West Mortgage.
FHA mortgage insurance protects lenders if you default on your loan. While this adds to your monthly costs, it's what enables FHA's low down payment and flexible credit requirements. Here's exactly what you'll pay in Nevada.
What it is: A one-time fee charged at closing, calculated as 1.75% of your base loan amount.
How it's paid: Typically rolled into your loan amount (financed), so you don't pay out-of-pocket at closing.
Nevada Example:
$400,000 loan amount × 1.75% = $7,000 UFMIP
This is added to your loan, making your new loan balance $407,000.
What it is: An ongoing annual fee calculated as 0.55% of your loan balance, paid monthly.
How it's paid: Divided by 12 and added to your monthly mortgage payment for the life of the loan.
Nevada Example:
$407,000 loan balance × 0.55% = $2,238.50 per year
$2,238.50 ÷ 12 = $187/month MIP
| Loan Term | Down Payment | MIP Duration |
|---|---|---|
| 15-Year Loan | Less than 10% | 11 Years |
| 15-Year Loan | 10% or more | No MIP required |
| 30-Year Loan | Less than 10% | Life of loan |
| 30-Year Loan | 10% or more | 11 Years |
*Over 30 years. Most homeowners refinance or sell before this, reducing actual costs paid.
Unlike conventional PMI, FHA mortgage insurance cannot be removed on 30-year loans with less than 10% down. However, Nevada homeowners have two strategies:
Once you reach 20% equity in your Las Vegas or Reno home, refinance to a conventional loan with no PMI. This typically happens after 5-7 years of appreciation and principal paydown.
If you can afford 10% down ($45,000 on a $450,000 home), your annual MIP drops off after 11 years automatically—saving tens of thousands.