Nevada FHA Loan Rates, Closing Costs & Stats

Nevada

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    • 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 6.3% for the week of 2023-01-27, compared to the national average (all FHA variants) of 6.186% for the same period.

    Nevada's average FHA mortgage closing costs are $8,549.

    The average rate for the prior week (2023-01-20) was 6.17% and one month ago for the week of 2022-12-23, the average rate was 6.56%.

    The average rate one year ago was 3.85%.

    For refis of the same type during the week of 2023-01-27, the average rate was 6.08%.

    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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 1,671 3.14% $10,438
    QUICKEN LOANS, LLC 1,015 2.65% $7,554
    FREEDOM MORTGAGE CORPORATION 709 2.73% $5,793
    LAKEVIEW LOAN SERVICING, LLC 532 2.90% $5,238
    LOANDEPOT.COM, LLC 513 3.34% $9,298
    UNITED WHOLESALE MORTGAGE, LLC 508 2.75% $8,793
    BROKER SOLUTIONS, INC. 495 3.35% $9,585
    PENNYMAC LOAN SERVICES, LLC 408 2.91% $5,902
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 394 3.40% $10,113
    ALL WESTERN MORTGAGE, INC. 351 3.44% $9,367
    CROSSCOUNTRY MORTGAGE, LLC 322 3.13% $10,595
    Mr. Cooper ( Nationstar Mortgage ) 318 3.09% $5,447
    DHI MORTGAGE COMPANY, LTD. 311 2.78% $9,177
    CALIBER HOME LOANS, INC. 295 2.85% $7,344
    VILLAGE CAPITAL MORTGAGE 280 2.68% $3,206
    HOME POINT FINANCIAL CORPORATION 269 2.83% $8,635
    SUMMIT FUNDING, INC. 260 3.50% $12,258
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 259 3.25% $10,574
    HOMEBRIDGE FINANCIAL SERVICES, INC. 229 2.68% $7,019
    CELEBRITY HOME LOANS, LLC 201 3.40% $10,259
    RESIDENTIAL BANCORP. 201 3.27% $10,557
    PLANET HOME LENDING, LLC 188 3.03% $8,472
    GUARANTEED RATE, INC. 188 3.12% $9,597
    FINANCE OF AMERICA MORTGAGE LLC 183 3.42% $9,726
    EAGLE HOME MORTGAGE, LLC 181 3.31% $11,211
    SECURITYNATIONAL MORTGAGE COMPANY 177 3.27% $10,839
    DATA MORTGAGE, INC. 173 3.59% $9,844
    Carrington Mortgage Services, LLC 173 3.34% $8,455
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 168 3.37% $11,157
    INSPIRE HOME LOANS INC. 163 3.16% $12,257
    PANORAMA MORTGAGE GROUP, LLC 161 3.41% $10,105
    RMS & Associates 159 3.26% $10,824
    MOVEMENT MORTGAGE, LLC 154 3.23% $8,237
    CMG MORTGAGE, INC. 151 3.36% $11,180
    MANN FINANCIAL INC. 149 3.44% $10,673
    HOMEAMERICAN MORTGAGE CORPORATION 139 2.71% $5,944
    KBHS HOME LOANS, LLC 132 3.23% $11,621
    FBC MORTGAGE, LLC 131 3.20% $9,284
    NEWREZ LLC 131 2.84% $5,990
    SWBC MORTGAGE CORPORATION 127 3.34% $9,020
    AXIA FINANCIAL, LLC 123 3.24% $9,359
    NOVA FINANCIAL & INVESTMENT CORPORATION 113 3.17% $8,223
    ISERVE RESIDENTIAL LENDING, LLC 91 3.44% $10,918
    SUN WEST MORTGAGE COMPANY, INC. 91 3.12% $9,640
    PRIMARY RESIDENTIAL MORTGAGE, INC. 86 3.46% $11,213
    AMERICAN FINANCIAL NETWORK, INC. 84 3.15% $11,972
    PINNACLE LENDING GROUP, INC. 82 2.84% $8,434
    MORTGAGE MANAGEMENT CONSULTANTS, INC. 78 3.35% $7,852
    AMERISAVE MORTGAGE CORPORATION 77 2.88% $9,196
    Amerifirst Financial, Inc. 76 3.25% $10,055
    Sierra Pacific Mortgage Company, Inc. 74 3.03% $9,824
    Paramount Residential Mortgage Group, Inc. 73 3.29% $10,212
    PRIMELENDING, A PLAINSCAPITAL COMPANY 67 3.45% $11,503
    Hometown Lenders, Inc. 62 3.26% $10,284
    LOANPAL, LLC 60 2.59% $9,966
    Neighborhood Loans, Inc. 57 3.32% $9,573
    WESTERN EXPRESS LENDING 56 3.24% $9,052
    GREATER NEVADA LLC 55 3.48% $10,503
    Flagstar Bank, FSB 55 2.98% $9,155
    Equity Prime Mortgage LLC 50 3.23% $7,270
    First Option Mortgage, LLC 49 3.10% $10,211
    Loan Simple, Inc. 48 3.37% $10,459
    InterContinental Capital Group, Inc 46 2.67% $8,806
    First Guaranty Mortgage Corporation 42 2.89% $6,895
    ML Mortgage Corp. 41 3.14% $10,333
    AMERICAN PACIFIC MORTGAGE CORPORATION 41 3.09% $9,851
    BAY EQUITY LLC 40 2.99% $13,263
    Wolfe Financial, Inc 39 3.29% $10,141
    The Federal Savings Bank 37 2.66% $11,108
    CANOPY MORTGAGE, LLC 34 2.62% $8,794
    Northpointe Bank 34 3.29% $10,353
    CALCON MUTUAL MORTGAGE LLC 33 3.68% $11,874
    Nations Lending Corporation 33 3.25% $13,169
    ONE NEVADA CREDIT UNION 33 2.58% $7,542
    SOVEREIGN LENDING GROUP INCORPORATED 32 2.86% $8,628
    HOME FUNDING CORPORATION 31 3.39% $9,754
    HAMILTON HOME LOANS, INC. 31 2.83% $8,256
    INTERNATIONAL CITY MORTGAGE, INC. 29 3.27% $9,075
    Commerce Home Mortgage, Inc. 29 3.08% $9,510
    CITY FIRST MORTGAGE SERVICES, L.L.C. 29 3.41% $10,457
    MORTGAGE SOLUTIONS OF COLORADO, LLC 29 3.37% $11,738
    GENEVA FINANCIAL, LLC 29 3.19% $10,593
    ON Q FINANCIAL, INC. 29 3.27% $9,005
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 27 3.14% $9,442
    PULTE MORTGAGE LLC 27 3.06% $6,695
    Gateway First Bank 26 3.46% $11,900
    U.S. Bank 24 3.25% $8,136
    LEADERONE FINANCIAL CORPORATION 22 3.15% $9,443
    MUTUAL OF OMAHA MORTGAGE, INC. 22 2.99% $10,494
    FIRST COLONY MORTGAGE CORPORATION 22 3.04% $8,508
    BEST CAPITAL FUNDING 22 2.89% $9,564
    Town Square Mortgage & Investments, Inc. 22 3.07% $9,618
    South Pacific Financial Corporation 21 2.76% $12,468
    INTERCAP LENDING INC. 21 3.35% $10,462
    Bank of England 20 3.49% $10,104
    STEARNS LENDING, LLC 19 2.89% $8,506
    OCMBC, INC. 18 3.06% $9,042
    DIGNIFIED HOME LOANS, LLC 18 3.02% $9,513
    RESIDENTIAL WHOLESALE MORTGAGE, INC. 18 3.08% $8,649
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 17 2.89% $8,053
    ACADEMY MORTGAGE CORPORATION 16 3.33% $9,413
    Barrington Bank & Trust Company, N.A. 16 3.10% $8,607
    DRAPER AND KRAMER MORTGAGE CORP. 16 3.19% $9,580
    LAND HOME FINANCIAL SERVICES, INC. 16 3.63% $11,479
    MASON MCDUFFIE MORTGAGE CORPORATION 16 3.08% $9,948
    NATIONS DIRECT MORTGAGE, LLC 16 3.14% $9,132
    LADERA LENDING, INC. 15 2.95% $9,100
    Low VA Rates, LLC 14 2.75% $5,827
    MID AMERICA MORTGAGE, INC. 13 3.36% $5,825
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 13 3.26% $9,553
    ANGEL OAK HOME LOANS LLC 13 3.31% $8,923
    Zions Bancorporation, N.A. 12 2.74% $7,051
    CHERRY CREEK MORTGAGE, LLC 12 3.58% $5,336
    KELLER MORTGAGE, LLC 12 2.81% $7,074
    UNITED 12 3.17% $9,863
    SYNERGY HOME MORTGAGE, LLC 12 3.70% $10,457
    HighTechLending Inc 11 3.17% $9,634
    EVERETT FINANCIAL, INC. 11 3.80% $8,317
    PREMIER MORTGAGE RESOURCES, L.L.C. 10 3.30% $10,964
    AMERICAN FINANCIAL RESOURCES, INC. 10 3.10% $7,993
    AMERICAN FINANCING CORPORATION 10 2.91% $8,075
    ALAMEDA MORTGAGE CORPORATION 10 3.28% $10,073
    Colten Mortgage, LLC 10 2.85% $7,785
    CHURCHILL MORTGAGE CORPORATION 10 3.70% $10,034
    TOP FLITE FINANCIAL, INC. 10 3.14% $17,274
    Bank of America 10 3.05% $7,223
    HOMEOWNERS FINANCIAL GROUP USA, LLC 10 3.25% $9,580
    JPMorgan Chase Bank 10 2.93% $5,130
    Pacific Lending LLC 10 3.21% $10,664
    CORNERSTONE HOME LENDING, INC. 9 3.26% $9,858
    VAN DYK MORTGAGE CORPORATION 9 2.92% $7,073
    United Fidelity Funding Corp. 9 2.75% $9,783
    AmRes Corporation 9 2.71% $8,431
    Austin Capital Bank SSB 9 3.21% $10,124
    PHH Mortgage Corporation 9 3.18% $4,533
    VANDERBILT MORTGAGE AND FINANCE, INC. 8 3.72% $10,460
    CLEARPATH LENDING 8 2.88% $4,971
    DIRECT MORTGAGE LOANS, LLC 8 3.30% $11,888
    LENDUS, LLC 8 3.11% $8,607
    INTELLILOAN, INC. 8 2.89% $6,878
    ZILLOW HOME LOANS, LLC 8 2.66% $9,999
    CITYWIDE HOME LOANS, LLC 7 3.16% $10,148
    Franklin Loan Corporation 7 3.66% $10,316
    East Coast Capital Corp. 7 3.52% $12,223
    BRIDGELOCK CAPITAL 7 2.89% $8,722
    UNITED MORTGAGE CORP. 7 3.05% $8,902
    Wells Fargo Bank 7 3.16% $7,188
    First Home Bank 6 2.85% $12,128
    MORIA DEVELOPMENT, INC. 5 3.75% $9,409
    North American Savings Bank, F.S.B. 5 2.55% $6,789
    NBKC BANK 5 2.78% $9,312
    AMERICA FIRST 5 2.60% $9,698
    TBI MORTGAGE COMPANY 4 2.97% $13,111
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 4 3.22% $10,947
    Citizens Bank 4 2.94% $7,625
    Prosperity Home Mortgage, LLC 4 3.09% $8,509
    First Savings Bank 4 2.97% $7,202
    BELEM SERVICING LLC 4 3.41% $8,950
    BECKAM FUNDING CORP. 4 3.63% $15,861
    MOUNTAIN WEST FINANCIAL, INC. 4 2.72% $9,198
    PLAZA HOME MORTGAGE, INC. 4 2.97% $9,346
    Mortgage Research Center, LLC 4 3.13% $8,203
    First Federal Bank 3 3.46% $11,762
    NP, Inc. 3 2.88% $7,532
    WALL FINANCIAL, INC. 3 2.96% $11,905
    BEST FINANCE CAPITAL, INC. 3 3.17% $11,004
    M&T Bank 3 3.04% $8,509
    SNAPFI, INC. 3 2.96% $8,292
    Florida Capital Bank 3 2.63% $8,458
    First National Bank 2 2.12% $11,359
    JMJ FINANCIAL GROUP 2 2.94% $11,504
    Chickasaw Community Bank 2 3.00% $8,231
    HomeStreet Bank 2 2.63% $9,645
    TJC Mortgage, Inc. 2 3.06% $12,599
    Magnolia Bank 2 2.63% $10,621
    AmeriHome Mortgage Company, LLC 2 2.69% $13,545
    S1L, Inc. 2 2.94% $9,443
    Willamette Valley Bank 2 2.94% $12,070
    FirstBank 2 2.50% $7,655
    Glacier Bank 2 3.00% $10,470
    Colonial Savings, F.A. 2 2.88% $7,221
    The Union Bank Company 1 2.50% $8,832
    Constant Investments, Inc. 1 2.88% $9,189
    Paramount Bank 1 2.88% $7,958
    Peoples Bank 1 3.25% $7,447
    NATIONWIDE MORTGAGE BANKERS, INC. 1 3.13% $6,063
    KS StateBank 1 2.75% $8,154
    Platinum Home Mortgage Corporation 1 2.75% $6,813
    Citibank 1 2.88% $6,968
    MUFG Union Bank 1 2.38% $8,420
    Axos Bank 1 4.13% $8,527
    Armed Forces Bank 1 2.63% $6,946
    Sunflower Bank 1 2.99% $10,723
    Great Plains National Bank 1 2.75% $10,178
    Umpqua Bank 1 2.88% $12,299
    UNION HOME MORTGAGE CORP. 1 2.75% $9,551
    MLD MORTGAGE INC. 1 2.50% $8,936
    MICHIGAN MUTUAL, INC. 1 3.13% $6,860
    Meridian Bank Corporation 1 2.38% $13,123
    MEMBER FIRST MORTGAGE, LLC 1 2.88% $14,572
    GUARANTEED RATE AFFINITY, LLC 1 2.88% $11,405
    V.I.P. MORTGAGE, INC. 1 3.75% $10,391
    JMAC LENDING, INC. 1 3.25% $6,193
    Allied First Bank,sb 1 3.63% $7,255
    WINNPOINTE CORPORATION 1 3.00% $4,844
    DAS Acquisition Company, LLC 1 4.63% $10,433

    The top Nevada FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 1,671 FHA loans originated. Their average total fees are $10,438, which is $2,883 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Nevada FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($3,206), JPMorgan Chase Bank ($5,130), LAKEVIEW LOAN SERVICING, LLC ($5,238), CHERRY CREEK MORTGAGE, LLC ($5,336) and Mr. Cooper ( Nationstar Mortgage ) ($5,447).

    The lowest rate Nevada FHA lenders (with over 10 loans originated) are ONE NEVADA CREDIT UNION (2.58%), LOANPAL, LLC (2.59%), CANOPY MORTGAGE, LLC (2.62%), QUICKEN LOANS, LLC (2.65%) and The Federal Savings Bank (2.66%).

    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

    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).