FHA Loan
3.5% down. 580 FICO minimum. Government-backed, easier credit and debt-to-income standards. Mortgage insurance for the life of the loan in most cases.
FHA loans Nevada →
Nevada First-Time Buyer Guide
Buy your first home in Nevada without the guesswork.
Written for normal humans, not mortgage people. We'll explain what loan programs actually fit your situation, how much down payment you really need, what credit scores realistically work, and the parts nobody explains until closing day.
Program figures verified July 2026 — details change; confirm your scenario with us.
$0Down possible (VA, USDA, NV DPA)
580FICO floor on FHA
15NV cities we serve
Licensed in Nevada · NMLS #173855 · Equal Housing Lender
The four loan types in plain English
Most first-time buyers in Nevada use one of these four. Pick the one that matches your situation, then read the deeper page.
VA Loan
0% down. No PMI. Active duty, Veterans, and qualifying surviving spouses. One-time funding fee. Often the lowest total cost of any loan type.
VA loans Nevada →USDA Loan
0% down. Income-limited. Many Nevada buyers are surprised how many suburban and small-town areas may still qualify. USDA does not always mean farmland — the outskirts of Pahrump, Fernley, Mesquite, Fallon, and many small towns are often eligible.
USDA loans Nevada →Conventional Loan
3% down for first-time buyers. 620 FICO floor; PMI drops off automatically at 78% loan-to-value. Best long-term cost if your credit is strong.
Conventional loans Nevada →Not sure which one? The right loan usually comes down to three numbers: your credit score, your savings, and where you're buying. Send us those three things and we'll model the two best options against each other in plain numbers.
The process, in 7 steps
From "I think I'm ready" to keys in hand.
Most Nevada first-time buyers close in 30–45 days once they're under contract. Here's the whole arc.
- 1
Free 20-min call
We talk about your income, credit ballpark, NV city, and timeline. No commitment, no credit pull.
- 2
Pre-approval
We pull credit, verify income, and send a pre-approval letter you can write offers with. Why this beats pre-qualification →
- 3
Find a home
You shop with a real-estate agent of your choice. We're available to your agent for fast question turnaround.
- 4
Offer accepted
You go under contract. The 30-day closing clock starts.
- 5
Inspection & appraisal
Inspector checks the home; appraiser confirms the price. What inspectors actually look for →
- 6
Underwriting
Final document review. We handle this; you respond to any final questions.
- 7
Close
You sign at the title company. Funds wire. Keys are yours.
Down payment reality check
Full down payment guide →
You don't need 20% down.
The 20% number comes from a Hollywood-era standard that hasn't applied to first-time buyers in 50 years. Here's what's actually required:
| Loan type | Minimum down |
|---|---|
| VA (eligible) | 0% |
| USDA (eligible area) | 0% |
| FHA | 3.5% |
| Conventional FTHB | 3% |
| Conventional standard | 5% |
| Jumbo (above ~$806K in AZ) | 10–20% |
Down payment assistance
Nevada has more down payment assistance options than most buyers realize.
Some programs are local. Some are statewide. Some are forgivable. Some need to be repaid later. The right fit depends on where you are buying, your income, your credit, and how long you expect to stay in the home.
We built a full sister-site to walk through every option:
Down Payment Assistance Nevada →Includes Home Is Possible, Home At Last, the WISH grant, and a Mortgage Credit Certificate, plus national programs Chenoa, Arrive, and Essex.
Topics we cover in depth
Pillar
High-search
Numbers
Numbers
Negotiable
Process
Honest
Local
Pick what you're stuck on.
The mortgage process
The whole arc, from "thinking about it" to keys, with timing.
Read →Pre-approval vs pre-qualification
Which one Nevada realtors and sellers actually take seriously, and why.
Read →Credit scores & FICO
What score gets you what rate, and how to bump 20 points fast.
Read →Down payments
How much you really need by loan type and NV price point.
Read →Closing costs
What they actually are, and the four ways to negotiate them down.
Read →Home inspections
What inspectors actually look for in Nevada homes, and what to do with the report.
Read →Myths & misconceptions
The 20% myth, the credit-score myth, the "wait for rates" myth.
Read →Cities we serve in Nevada
Las Vegas, Reno, Sparks, Henderson, Enterprise, Carson City, Churchill, and what's specific to each.
Read →
FAQ
The questions first-time Nevada buyers ask first
Frequently asked questions
What credit score do I need to buy a home in Nevada?
FHA accepts a 580 credit score with 3.5% down, and 500 to 579 with 10% down. VA and USDA generally want 620 or higher. Conventional 97 loans start at a 620 minimum, with the best pricing at 740-plus. Home Is Possible down payment assistance requires a 640 FICO. We can usually map a path even if your score is in the 500s today. Full credit-score guide →
How much down payment do I need in Nevada?
As little as 3% on conventional first-time buyer programs (Conventional 97, HomeReady, Home Possible), 3.5% on FHA, and $0 down on VA for eligible Veterans and USDA in USDA-eligible areas. With Home Is Possible assistance covering up to 5% statewide, your real out-of-pocket can land near $0 even on a $400,000 home. Down payment guide →
Who counts as a first-time home buyer in Nevada?
You are a first-time buyer if you have not owned a principal residence in the prior 3 years, the HUD definition most programs use. A spouse's ownership counts, so both of you must meet the test. Single parents and displaced homemakers qualify under separate exceptions even if they owned a home with a former spouse. More about how we help first-time buyers →
What down payment assistance is available in Nevada?
Home Is Possible is statewide and gives up to 5% with a 640 FICO and income up to $165,000. In rural Nevada, Home At Last offers 0%-interest, no-payment assistance with household income up to $165,000. The federal WISH grant matches eligible buyers' savings 4:1 up to $32,837. These programs do not stack with each other. Down payment assistance details →
Should I get pre-approved or pre-qualified?
Get pre-approved, every time. Pre-qualification is a quick, often unverified estimate based on what you tell the lender. Pre-approval is a verified, credit-pulled commitment letter that Nevada agents and sellers take seriously when you write an offer in competitive markets like Las Vegas, Henderson, and North Las Vegas. It is the single biggest thing you can do before you start shopping. Full breakdown →
Can I negotiate closing costs in Nevada?
Yes. Sellers can pay your closing costs as seller concessions, up to roughly 3% on conventional with 3 to 5% down, 6% on FHA, 4% on VA, and 6% on USDA. Lender credits, shopping title and inspection vendors, and rolling some costs into the loan are also options. Together these can cut your out-of-pocket meaningfully. All four ways to lower closing costs →
Do I need 20% down to buy a home in Nevada?
No. The 20% figure is a myth for first-time buyers. FHA needs 3.5%, Conventional 97 needs 3%, and VA and USDA need $0 down for eligible buyers. Nevada down payment assistance like Home Is Possible can cover most or all of that 3% to 3.5%, which is why many first-timers close with little money out of pocket. More first-time buyer myths →
How long does the home buying process take in Nevada?
About 30 to 45 days from an accepted offer to keys in hand is normal in Nevada. Getting pre-approved before you start shopping is what keeps that timeline tight. Without pre-approval, plan for 45 to 60 days, since lenders still have to verify income, pull credit, and underwrite once you are already under contract. The full 7-step process →
Ready to find out what you actually qualify for?
Twenty minutes on the phone. No pressure, no commitment, no hard sell. Just a realistic conversation about what may fit and what steps come next.
More first-time buyer resources
Nevada cities
- Henderson First-Time Buyer
- North Las Vegas Enterprise Sparks First-Time Buyer
- Carson City First Time Homebuyer
- Reno First Time Homebuyer
- Las Vegas First Time Homebuyer
Guides & situations
- How To Qualify First-Time Buyer Nevada
- First Time Homebuyer After Bankruptcy Nevada
- Buy House With Student Loans Nevada
- Nevada First-Time Buyer Income Limits
- Nevada Closing Costs First Time Buyers
- First Time Homebuyer Grants Nevada
- First Time Homebuyer Tax Credit Nevada
- How Much Down Payment Nevada
- Fha Vs Conventional Nevada
- First Time Homebuyer With Cosigner Nevada
- First Time Home Buyer After Divorce Nevada
- First Time Homebuyer New Construction Nevada
From the blog
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