Nevada FHA Loan Rates, Closing Costs & Stats

Nevada

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.

Nevada FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Nevada averaged -0.33% for the week of 2024-06-21, compared to the national average (all FHA variants) of 0% for the same period.

Nevada's average FHA mortgage closing costs are $9,755.

The average rate for the prior week (2024-06-14) was 6.67% and one month ago for the week of 2024-05-17, the average rate was 6.31%.

The average rate one year ago was 6.4%.

For refis of the same type during the week of 2024-06-21, the average rate was -0.08%.

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

Nevada 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 Nevada level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 1,053 6.22% $14,842
GUILD MORTGAGE COMPANY 932 6.39% $15,899
QUICKEN LOANS, LLC 674 6.13% $14,320
DHI MORTGAGE COMPANY, LTD. 450 5.56% $10,763
LOANDEPOT.COM, LLC 415 5.96% $13,304
BROKER SOLUTIONS, INC. 323 6.52% $14,988
EAGLE HOME MORTGAGE, LLC 285 4.96% $13,665
KBHS HOME LOANS, LLC 237 5.75% $13,583
CROSSCOUNTRY MORTGAGE, LLC 201 6.66% $15,500
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 191 6.72% $14,764
HOMEAMERICAN MORTGAGE CORPORATION 176 5.60% $7,924
CARDINAL FINANCIAL 166 6.57% $16,067
SECURITYNATIONAL MORTGAGE COMPANY 162 6.74% $15,302
American Mortgage & Equity Consultants, Inc. 143 6.62% $15,558
CMG MORTGAGE, INC. 137 6.36% $16,600
INSPIRE HOME LOANS INC. 123 5.43% $12,161
PENNYMAC LOAN SERVICES, LLC 118 6.23% $15,928
MOVEMENT MORTGAGE, LLC 117 6.70% $15,363
Century Mortgage Company DBA Century Lending Company 114 6.19% $12,000
SUMMIT FUNDING, INC. 112 6.73% $16,547
FREEDOM MORTGAGE CORPORATION 110 6.66% $16,043
PLANET HOME LENDING, LLC 109 6.52% $13,848
AMERICAN PACIFIC MORTGAGE CORPORATION 107 6.66% $15,127
GUARANTEED RATE, INC. 100 6.41% $13,927
FBC MORTGAGE, LLC 98 6.02% $14,952
AXIA FINANCIAL, LLC 95 6.48% $14,123
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 92 6.37% $15,168
PULTE MORTGAGE LLC 79 5.85% $8,784
AMERICAN FINANCIAL NETWORK, INC. 73 7.05% $15,595
Sierra Pacific Mortgage Company, Inc. 72 6.72% $15,433
NOVA FINANCIAL & INVESTMENT CORPORATION 68 6.45% $11,406
Paramount Residential Mortgage Group, Inc. 64 6.85% $13,682
OCMBC, INC. 64 7.13% $15,330
MUTUAL OF OMAHA MORTGAGE, INC. 63 6.44% $15,801
RMS & Associates 62 6.80% $15,341
PACIFIC RESIDENTIAL MORTGAGE, LLC 61 6.67% $14,296
PRIMELENDING, A PLAINSCAPITAL COMPANY 60 6.62% $15,733
NEWREZ LLC 59 6.32% $14,746
Mr. Cooper ( Nationstar Mortgage ) 54 6.03% $18,256
CASTLE & COOKE MORTGAGE, LLC 54 6.57% $15,906
GENEVA FINANCIAL, LLC 51 6.95% $16,881
ONE NEVADA CREDIT UNION 51 5.97% $11,385
ISERVE RESIDENTIAL LENDING, LLC 50 6.90% $14,382
SUN WEST MORTGAGE COMPANY, INC. 50 6.44% $13,900
EVERETT FINANCIAL, INC. 49 6.80% $14,365
Flagstar Bank, FSB 49 6.36% $13,035
PRIMARY RESIDENTIAL MORTGAGE, INC. 49 6.72% $16,017
ML Mortgage Corp. 44 6.70% $15,074
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 44 6.55% $15,034
PINNACLE LENDING GROUP, INC. 44 6.20% $13,239
MANN FINANCIAL INC. 41 6.78% $15,755
LEADERONE FINANCIAL CORPORATION 41 6.63% $12,527
PANORAMA MORTGAGE GROUP, LLC 40 6.50% $16,233
LOANPAL, LLC 39 5.74% $16,975
Carrington Mortgage Services, LLC 37 6.26% $14,714
HOMEBRIDGE FINANCIAL SERVICES, INC. 36 6.27% $14,985
DATA MORTGAGE, INC. 36 6.74% $16,533
AMERISAVE MORTGAGE CORPORATION 36 6.05% $15,572
RESIDENTIAL BANCORP 34 6.17% $16,301
Equity Prime Mortgage LLC 34 6.97% $15,057
BAY-VALLEY MORTGAGE GROUP 33 6.06% $18,081
Nations Lending Corporation 31 6.35% $13,639
LAND HOME FINANCIAL SERVICES, INC. 29 6.89% $17,596
Cornerstone First Mortgage, Inc 28 6.52% $18,745
NFM, INC. 28 6.70% $17,023
MASON MCDUFFIE MORTGAGE CORPORATION 28 6.54% $15,924
South Pacific Financial Corporation 26 5.74% $12,551
BAY EQUITY LLC 26 6.33% $16,833
DIRECT MORTGAGE LOANS, LLC 24 6.72% $16,445
Prosperity Home Mortgage, LLC 23 6.39% $14,833
Franklin Loan Corporation 23 6.30% $17,864
TOP FLITE FINANCIAL, INC. 23 6.79% $16,381
GREATER NEVADA LLC 23 6.83% $12,267
MORTGAGE MANAGEMENT CONSULTANTS, INC. 22 6.62% $11,184
CALCON MUTUAL MORTGAGE LLC 22 7.11% $20,647
SWBC MORTGAGE CORPORATION 22 6.90% $10,068
AmeriHome Mortgage Company, LLC 21 6.48% $13,606
Bank of England 20 6.44% $12,583
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 19 6.82% $13,210
ARK-LA-TEX FINANCIAL SERVICES, LLC. 19 6.53% $14,375
U.S. Bank 19 6.35% $11,336
Plains Commerce Bank 18 6.15% $16,642
Gateway First Bank 17 6.86% $13,046
VILLAGE CAPITAL MORTGAGE 17 6.04% $12,193
LAKEVIEW LOAN SERVICING, LLC 17 6.17% $12,868
HighTechLending Inc 16 6.58% $14,981
First Option Mortgage, LLC 16 6.66% $16,835
CLARK COUNTY CREDIT UNION 15 6.13% $14,670
PREMIER MORTGAGE RESOURCES, L.L.C. 14 6.71% $13,881
VERITAS FUNDING, LLC 14 6.59% $21,827
United Fidelity Funding Corp. 14 6.78% $17,607
NATIONS DIRECT MORTGAGE, LLC 13 7.18% $17,894
MORTGAGE SOLUTIONS OF COLORADO, LLC 13 6.48% $14,691
Ixonia Bank 13 7.33% $15,369
CHERRY CREEK MORTGAGE, LLC 13 6.64% $3,808
AMERICA FIRST 13 6.33% $12,338
TJC Mortgage, Inc. 12 6.83% $16,993
UNION HOME MORTGAGE CORP. 12 6.93% $13,034
UNITED 12 6.52% $12,993
TBI MORTGAGE COMPANY 11 6.17% $15,729
ALLIED MORTGAGE GROUP, INC. 11 7.20% $15,235
ON Q FINANCIAL, INC. 11 6.67% $15,686
The Federal Savings Bank 11 6.24% $19,293
Neighborhood Loans, Inc. 10 6.55% $13,974
PHH Mortgage Corporation 10 6.23% $11,596
LADERA LENDING, INC. 10 6.60% $12,010
BM Real Estate Services, Inc. 10 6.88% $13,474
ZILLOW HOME LOANS, LLC 9 6.50% $12,338
ACADEMY MORTGAGE CORPORATION 9 6.57% $16,817
NBKC BANK 9 5.85% $10,865
BECKAM FUNDING CORP. 9 7.08% $20,338
The Loan Store, Inc. 9 6.90% $14,820
DRAPER AND KRAMER MORTGAGE CORP. 8 5.86% $14,070
HOME FUNDING CORPORATION 8 6.72% $13,612
MICHIGAN MUTUAL, INC. 8 6.11% $15,850
INTERCAP LENDING INC. 8 6.98% $13,080
MOUNTAIN WEST FINANCIAL, INC. 7 6.91% $13,925
BELEM SERVICING LLC 7 7.04% $15,257
MID AMERICA MORTGAGE, INC. 7 6.68% $10,786
JPMorgan Chase Bank 6 6.13% $11,664
INTERNATIONAL CITY MORTGAGE, INC. 6 6.31% $13,197
INFINITY EQUITY GROUP, INC. 6 6.50% $14,455
East Coast Capital Corp. 6 5.98% $14,547
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 6.33% $19,435
CORNERSTONE HOME LENDING, INC. 6 7.04% $14,150
VAN DYK MORTGAGE CORPORATION 6 6.90% $8,706
CITYWIDE HOME LOANS, LLC 6 6.44% $16,549
AMERICAN FINANCIAL RESOURCES, INC. 6 7.02% $13,066
Northpointe Bank 6 6.67% $18,124
Wells Fargo Bank 6 6.31% $9,586
S1L, Inc. 5 6.18% $14,944
Zions Bank 5 6.13% $15,305
Bank of America 5 6.05% $12,924
Pacific Lending LLC 5 6.78% $14,563
Town Square Mortgage & Investments, Inc. 5 6.45% $8,923
PLAZA HOME MORTGAGE, INC. 5 6.43% $10,146
First Savings Bank 4 5.59% $23,779
DAS Acquisition Company, LLC 4 7.06% $13,997
CHURCHILL MORTGAGE CORPORATION 4 6.63% $13,000
MORIA DEVELOPMENT, INC. 4 6.56% $13,160
CANOPY MORTGAGE, LLC 4 5.81% $18,910
CALIBER HOME LOANS, INC. 4 6.50% $13,426
UNITED SECURITY FINANCIAL CORP 4 7.28% $21,412
M&T Bank 4 6.72% $10,758
GUARANTY HOME MORTGAGE CORPORATION 3 6.67% $15,820
HOMESIDE FINANCIAL, LLC 3 7.25% $15,319
Barrington Bank & Trust Company, N.A. 3 6.58% $12,220
SOVEREIGN LENDING GROUP INCORPORATED 3 5.46% $11,926
PENTAGON FEDERAL CREDIT UNION 3 6.08% $8,735
JMJ FINANCIAL GROUP 3 6.79% $17,105
Hometown Equity Mortgage, LLC 3 5.75% $13,197
FIRST COLONY MORTGAGE CORPORATION 3 7.08% $12,794
SUN AMERICAN MORTGAGE COMPANY 3 6.75% $11,140
Citizens Bank 3 6.21% $15,484
Mortgage Research Center, LLC 3 7.00% $9,550
RESIDENTIAL WHOLESALE MORTGAGE, INC. 3 6.83% $9,650
BEST FINANCE CAPITAL, INC. 2 5.94% $26,313
ALAMEDA MORTGAGE CORPORATION 2 6.19% $20,635
AMERICAN FINANCING CORPORATION 2 6.56% $12,810
AmRes Corporation 2 6.31% $15,925
Arvest Bank 2 5.44% $14,157
BMO Harris Bank 2 6.94% $6,777
Citibank 2 6.13% $8,649
CRESCENT MORTGAGE COMPANY 2 6.06% $10,663
FIRST COMMUNITY MORTGAGE, INC. 2 6.50% $15,370
MOUNTAIN AMERICA 2 6.19% $11,120
ONY GLO, INC. 2 6.69% $16,978
Performance Financial, Inc. 2 6.38% $14,733
PNC Bank 2 6.25% $7,674
The Central Trust Bank 2 6.63% $17,453
TOWNE MORTGAGE COMPANY 2 5.88% $10,750
UNIVERSAL MORTGAGE & FINANCE, INC. 2 7.19% $14,800
RESIDENTIAL MORTGAGE, LLC 1 4.88% $19,306
Old National Bank 1 7.12% $10,319
North American Savings Bank, F.S.B. 1 5.99% $14,480
NexBank 1 6.13% $13,439
NEW WAVE LENDING GROUP INC 1 7.63% $14,129
NEW DAY FINANCIAL, LLC 1 7.50% $13,246
Network Funding, L.P. 1 6.25% $12,446
Wyndham Capital Mortgage, Inc. 1 5.75% $12,757
NATIONWIDE MORTGAGE BANKERS, INC. 1 6.63% $13,213
MLD MORTGAGE INC. 1 5.63% $19,116
Magnolia Bank 1 6.63% $20,396
JMAC LENDING, INC. 1 7.13% $16,763
1st Security Bank of Washington 1 6.63% $10,710
INTELLILOAN, INC. 1 6.50% $9,707
HOMEXPRESS MORTGAGE CORP. 1 7.00% $15,218
Glacier Bank 1 4.88% $13,147
GEO-CORP, INC. 1 7.13% $22,530
First National Bank 1 5.99% $18,785
Encompass Lending Group, LP 1 7.13% $15,850
Armed Forces Bank 1 6.50% $12,700
DIGNIFIED HOME LOANS, LLC 1 7.12% $22,816
VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.88% $16,135
Colonial Savings, F.A. 1 6.38% $15,702
Chickasaw Community Bank 1 6.38% $10,076
BRIDGELOCK CAPITAL 1 7.63% $10,307
WALL FINANCIAL, INC. 1 7.13% $12,692
BETTER MORTGAGE CORPORATION 1 6.25% $8,508
Servion, Inc. 1 6.13% $13,988
SIRVA MORTGAGE, INC. 1 5.75% $8,329
SNAPFI, INC. 1 6.13% $15,849

The top Nevada FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 1,053 FHA loans originated. Their average total fees are $14,842, which is $1,057 lower than the next largest lender, GUILD MORTGAGE COMPANY.

The lowest fee Nevada FHA lenders (with over 10 loans originated) are CHERRY CREEK MORTGAGE, LLC ($3,808), HOMEAMERICAN MORTGAGE CORPORATION ($7,924), PULTE MORTGAGE LLC ($8,784), SWBC MORTGAGE CORPORATION ($10,068) and DHI MORTGAGE COMPANY, LTD. ($10,763).

The lowest rate Nevada FHA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (4.96%), INSPIRE HOME LOANS INC. (5.43%), DHI MORTGAGE COMPANY, LTD. (5.56%), HOMEAMERICAN MORTGAGE CORPORATION (5.60%) and LOANPAL, LLC (5.74%).

Nevada FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
FALLON, NV CHURCHILL 2022 $420,680 $538,650 $651,050 $809,150
LAS VEGAS-HENDERSON-PARADISE, NV CLARK 2022 $420,680 $538,650 $651,050 $809,150
GARDNERVILLE RANCHOS, NV DOUGLAS 2022 $569,250 $728,750 $880,900 $1,094,700
ELKO, NV ELKO 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO ESMERALDA 2022 $420,680 $538,650 $651,050 $809,150
ELKO, NV EUREKA 2022 $420,680 $538,650 $651,050 $809,150
WINNEMUCCA, NV HUMBOLDT 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO LANDER 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO LINCOLN 2022 $420,680 $538,650 $651,050 $809,150
FERNLEY, NV LYON 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO MINERAL 2022 $420,680 $538,650 $651,050 $809,150
PAHRUMP, NV NYE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO PERSHING 2022 $420,680 $538,650 $651,050 $809,150
RENO, NV STOREY 2022 $534,750 $684,550 $827,500 $1,028,350
RENO, NV WASHOE 2022 $534,750 $684,550 $827,500 $1,028,350
NON-METRO WHITE PINE 2022 $420,680 $538,650 $651,050 $809,150
CARSON CITY, NV CARSON CITY 2022 $448,500 $574,150 $694,000 $862,500
PAHRUMP, NV NYE 2023 $472,030 $604,400 $730,525 $907,900
FALLON, NV CHURCHILL 2023 $472,030 $604,400 $730,525 $907,900
LAS VEGAS-HENDERSON-PARADISE, NV CLARK 2023 $494,500 $633,050 $765,200 $950,950
GARDNERVILLE RANCHOS, NV DOUGLAS 2023 $657,800 $842,100 $1,017,900 $1,265,000
ELKO, NV ELKO 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO ESMERALDA 2023 $472,030 $604,400 $730,525 $907,900
ELKO, NV EUREKA 2023 $472,030 $604,400 $730,525 $907,900
WINNEMUCCA, NV HUMBOLDT 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO LANDER 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO LINCOLN 2023 $472,030 $604,400 $730,525 $907,900
FERNLEY, NV LYON 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO MINERAL 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO PERSHING 2023 $472,030 $604,400 $730,525 $907,900
RENO, NV STOREY 2023 $621,000 $795,000 $960,950 $1,194,250
RENO, NV WASHOE 2023 $621,000 $795,000 $960,950 $1,194,250
NON-METRO WHITE PINE 2023 $472,030 $604,400 $730,525 $907,900
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).