Your step-by-step guide to buying your first home in Las Vegas. Learn what programs work, what mistakes to avoid, and how to move forward with confidence.
First-time buyers in Las Vegas can purchase with as little as 3.5% down (FHA) or 0% down (VA for eligible veterans). The full process from pre-approval to closing typically takes 30–45 days. Understanding your program options, credit requirements, and Nevada-specific costs sets you up for a smoother experience.
First-time home buyers in Nevada looking for clarity, not pressure.
You're new to mortgages and want to understand the steps without jargon or pressure tactics.
You're relocating to Nevada and need to understand the local market, costs, and home buying process.
You're building savings and want realistic down payment targets and program options.
Your credit is a work in progress and you need to know what scores open which program doors.
You qualify for VA benefits and want to understand 0% down options and Nevada-specific guidance.
FHA, conventional, VA, 3%, 5%, 3.5%—you need clarity on which program fits your situation.
Different loan programs offer different down payment options, credit flexibility, and benefits. Here's how to think about your choices.
Most popular first-time buyer option
For strong credit profiles
For eligible veterans and service members
From pre-approval to keys in hand, here's what the process looks like in Nevada.
Submit your application, provide income/asset documentation, and receive a pre-approval letter. This shows sellers you're serious and financially ready.
What You'll Need:
Work with a real estate agent to tour properties in your budget. Consider neighborhoods like Summerlin, Henderson, North Las Vegas, or Spring Valley based on your priorities.
Nevada Buyer Tip:
Las Vegas inventory moves quickly. Be ready to act when you find the right home, but don't rush into a property that doesn't fit your needs.
Your agent helps you submit an offer with earnest money deposit, financing terms, and contingencies (inspection, appraisal, financing).
Earnest Money:
Typically 1–3% of purchase price in Nevada. This shows good faith and is applied to your down payment at closing if accepted.
Schedule a home inspection (optional but recommended) and the lender orders an appraisal to confirm the property value supports the loan amount.
Important:
Inspection protects you (uncover issues). Appraisal protects the lender (confirms value). Budget for inspection costs upfront ($400–$600 typically).
Your loan file goes to underwriting. They review documents, verify employment, check credit, and may request additional paperwork (called "conditions").
Underwriting Tip:
Respond quickly to condition requests. Avoid making big purchases or opening new credit during this period—it can delay or derail approval.
Once cleared to close, you'll receive your Closing Disclosure (review carefully). Do a final walkthrough to confirm the property condition before closing day.
Sign final documents at the title company, wire your down payment and closing costs, and receive your keys. Congratulations—you're a homeowner!
Bring to Closing:
Typical Total Timeline:
30–45 Days
From accepted offer to closing
Avoid these pitfalls to keep your home purchase on track.
Opening new credit cards, financing furniture, or buying a car can change your debt-to-income ratio and credit score—potentially derailing approval.
What to Do Instead:
Wait until after closing to make big purchases or open new accounts.
Waiving inspection to make your offer stronger can backfire if major issues surface after you own the home.
What to Do Instead:
Budget $400–$600 for a thorough inspection. Knowledge protects you from costly surprises.
Using every dollar for your down payment leaves no buffer for moving costs, repairs, or emergencies.
What to Do Instead:
Keep 3–6 months of expenses saved after closing. Lenders want to see reserves too.
Going with the first lender without comparing can cost thousands over the life of the loan.
What to Do Instead:
Compare Loan Estimates from 2–3 lenders. Look at APR, fees, and closing costs—not just the rate.
Focusing only on the mortgage payment and forgetting property taxes, insurance, HOA, and utilities can strain your budget.
What to Do Instead:
Use a payment calculator that includes taxes, insurance, and HOA to see the full picture.
Switching employers, going self-employed, or taking a pay cut during underwriting can complicate or stop approval.
What to Do Instead:
If a job change is unavoidable, communicate with your lender immediately—don't hide it.
What makes buying in Las Vegas and Nevada different.
Nevada's desert heat and low humidity can stress HVAC systems, roofing, and landscaping. During inspection, pay attention to air conditioning condition, attic ventilation, and outdoor irrigation systems. Many Las Vegas homes have desert landscaping to reduce water costs—factor this into maintenance planning.
Nevada property tax rates are generally lower than many other states, which helps keep monthly housing costs manageable. However, rates and assessments vary by county and city, so confirm your specific property's tax estimate during the buying process.
Helpful Resource:
Check Clark County Assessor's office or Washoe County Assessor for property tax information in your area.
Las Vegas real estate can move quickly, especially in desirable neighborhoods like Summerlin, Henderson, and North Las Vegas. Have your pre-approval ready, respond quickly to new listings, and be prepared to make competitive offers when you find the right home.
Many Las Vegas area neighborhoods have homeowners associations (HOAs) that maintain common areas, amenities, and enforce community standards. HOA fees add to your monthly housing cost, so factor them into your budget and review HOA rules before buying.
Pro Tip:
Request HOA financial statements and meeting minutes to check for upcoming special assessments or financial issues.
Nevada homeowners insurance typically costs less than states with hurricanes or tornadoes, but rates vary by location and coverage level. Shop for quotes early in the process—lenders require proof of insurance before closing. Consider coverage for desert-specific risks like dust storms or flash flooding in certain areas.
With Nellis Air Force Base and a large veteran population, Las Vegas is VA-loan friendly. If you're eligible for VA benefits, you can buy with 0% down and no monthly mortgage insurance—a significant advantage for first-time buyers.
Quick answers to common first-time buyer questions in Nevada.
Take the next step toward homeownership in Las Vegas. We're here to help you navigate the process with confidence.
Start your application and get a pre-approval letter in 1–3 days. See what you qualify for and shop with confidence.
Start applicationPlan your down payment, estimate closing costs, and see what you need to save before buying.
Open plannerNevada-First Guidance. We focus on what works in Las Vegas and across Nevada—clear information, no pressure, and transparent process. Every buyer's situation is different, and we're here to help you find the right fit.