Carson City FHA Loan Rates, Closing Costs & Stats

CARSON CITY, NV

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits

    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Carson City's 32 lenders originated 154 FHA loans during 2024. The total origination value was $56,570,000, with an average FHA loan value of $367,338.

    Carson City FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Carson City averaged -0.33% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

    Carson City's average FHA mortgage closing costs are $11,157.

    The average rate for the prior week (2025-06-13) was 6.35% and one month ago for the week of 2025-05-16, the average rate was 6.31%.

    The average rate one year ago was 6.77%.

    For refis of the same type during the week of 2025-06-20, the average rate was -0.2%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Carson City FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Carson City level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 21 6.34% $18,325
    EAGLE HOME MORTGAGE, LLC 12 4.99% $14,300
    PRIMELENDING, A PLAINSCAPITAL COMPANY 11 6.27% $18,258
    QUICKEN LOANS, LLC 11 5.86% $14,325
    CROSSCOUNTRY MORTGAGE, LLC 11 6.03% $16,823
    UNITED WHOLESALE MORTGAGE, LLC 9 6.33% $12,138
    BROKER SOLUTIONS, INC. 5 6.63% $15,215
    FREEDOM MORTGAGE CORPORATION 4 5.78% $17,358
    SUMMIT FUNDING, INC. 4 5.59% $20,418
    PENNYMAC LOAN SERVICES, LLC 4 5.19% $23,251
    Plains Commerce Bank 4 6.06% $21,659
    MUTUAL OF OMAHA MORTGAGE, INC. 3 6.17% $20,670
    LOANDEPOT.COM, LLC 2 6.31% $18,226
    MASON MCDUFFIE MORTGAGE CORPORATION 2 6.94% $14,631
    Prosperity Home Mortgage, LLC 2 5.62% $17,489
    CANOPY MORTGAGE, LLC 2 5.94% $17,878
    NFM, INC. 2 6.25% $16,599
    UNITED 2 6.31% $11,507
    LAND HOME FINANCIAL SERVICES, INC. 2 6.75% $24,096
    TJC Mortgage, Inc. 2 6.69% $19,495
    U.S. Bank 1 6.88% $12,549
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $13,407
    FIRST COLONY MORTGAGE CORPORATION 1 5.63% $15,700
    GREATER NEVADA LLC 1 6.63% $19,255
    ISERVE RESIDENTIAL LENDING, LLC 1 6.88% $11,344
    Mr. Cooper ( Nationstar Mortgage ) 1 6.63% $5,638
    NBKC BANK 1 5.13% $15,624
    PHH Mortgage Corporation 1 5.75% $21,050
    PLANET HOME LENDING, LLC 1 6.38% $6,539
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.25% $0
    The Federal Savings Bank 1 6.25% $21,421
    AMERICAN FINANCING CORPORATION 1 5.50% $14,972

    The top Carson City FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 21 FHA loans originated. Their average total fees are $18,325, which is $4,024 higher than the next largest lender, EAGLE HOME MORTGAGE, LLC.

    The lowest fee Carson City FHA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC ($14,300), QUICKEN LOANS, LLC ($14,325), CROSSCOUNTRY MORTGAGE, LLC ($16,823), PRIMELENDING, A PLAINSCAPITAL COMPANY ($18,258) and GUILD MORTGAGE COMPANY ($18,325).

    The lowest rate Carson City FHA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (4.99%), QUICKEN LOANS, LLC (5.86%), CROSSCOUNTRY MORTGAGE, LLC (6.03%), PRIMELENDING, A PLAINSCAPITAL COMPANY (6.27%) and GUILD MORTGAGE COMPANY (6.34%).

    Carson City FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    CARSON CITY, NV CARSON CITY 2022 $448,500 $574,150 $694,000 $862,500
    CARSON CITY, NV CARSON CITY 2023 $506,000 $647,750 $783,000 $973,100

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).