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 -0.58% for the week of 2023-11-24, compared to the national average (all FHA variants) of 0% for the same period.

Nevada's average FHA mortgage closing costs are $9,090.

The average rate for the prior week (2023-11-17) was 6.71% and one month ago for the week of 2023-10-20, the average rate was 7.02%.

The average rate one year ago was 6.24%.

For refis of the same type during the week of 2023-11-24, the average rate was -1.49%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
GUILD MORTGAGE COMPANY 866 4.97% $14,053
LOANDEPOT.COM, LLC 574 4.74% $12,148
UNITED WHOLESALE MORTGAGE, LLC 573 4.73% $11,700
QUICKEN LOANS, LLC 553 4.37% $12,785
BROKER SOLUTIONS, INC. 221 5.16% $13,113
DHI MORTGAGE COMPANY, LTD. 219 4.25% $11,360
CROSSCOUNTRY MORTGAGE, LLC 215 5.20% $14,659
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 208 5.18% $12,642
FREEDOM MORTGAGE CORPORATION 189 4.62% $11,989
EAGLE HOME MORTGAGE, LLC 186 4.63% $13,521
HOME POINT FINANCIAL CORPORATION 163 4.27% $11,070
PENNYMAC LOAN SERVICES, LLC 156 4.36% $13,094
CARDINAL FINANCIAL 156 4.84% $14,022
CALIBER HOME LOANS, INC. 153 4.58% $12,027
CMG MORTGAGE, INC. 143 5.19% $13,708
Mr. Cooper ( Nationstar Mortgage ) 132 4.26% $13,933
FINANCE OF AMERICA MORTGAGE LLC 131 4.89% $12,980
PLANET HOME LENDING, LLC 130 5.09% $11,792
SUMMIT FUNDING, INC. 116 5.32% $14,997
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 115 5.10% $13,826
LAKEVIEW LOAN SERVICING, LLC 98 3.64% $7,093
GUARANTEED RATE, INC. 95 4.92% $11,753
NOVA FINANCIAL & INVESTMENT CORPORATION 89 4.77% $7,087
HOMEAMERICAN MORTGAGE CORPORATION 86 4.21% $6,954
DATA MORTGAGE, INC. 86 5.41% $14,492
HOMEBRIDGE FINANCIAL SERVICES, INC. 85 4.62% $12,867
AMERISAVE MORTGAGE CORPORATION 83 4.39% $14,681
FBC MORTGAGE, LLC 83 4.98% $11,752
RESIDENTIAL BANCORP 79 5.19% $14,410
SECURITYNATIONAL MORTGAGE COMPANY 79 5.28% $14,250
AXIA FINANCIAL, LLC 75 5.22% $12,610
KBHS HOME LOANS, LLC 70 4.54% $14,658
PANORAMA MORTGAGE GROUP, LLC 69 5.40% $13,593
MANN FINANCIAL INC. 66 5.41% $13,904
Carrington Mortgage Services, LLC 65 4.87% $14,477
CASTLE & COOKE MORTGAGE, LLC 65 4.90% $13,071
EVERETT FINANCIAL, INC. 61 5.34% $8,024
PRIMELENDING, A PLAINSCAPITAL COMPANY 60 5.10% $14,624
MOVEMENT MORTGAGE, LLC 59 5.17% $13,682
RMS & Associates 58 5.15% $13,477
Amerifirst Financial, Inc. 56 5.17% $11,897
Flagstar Bank, FSB 55 4.76% $12,271
ONE NEVADA CREDIT UNION 54 4.35% $8,850
First Guaranty Mortgage Corporation 51 4.47% $12,461
LOANPAL, LLC 50 4.08% $15,799
GREATER NEVADA LLC 48 5.46% $10,648
NEWREZ LLC 48 4.58% $11,457
VILLAGE CAPITAL MORTGAGE 46 3.51% $7,842
MORTGAGE MANAGEMENT CONSULTANTS, INC. 46 4.59% $10,920
Northpointe Bank 44 4.85% $12,737
SUN WEST MORTGAGE COMPANY, INC. 42 4.78% $11,856
TOP FLITE FINANCIAL, INC. 39 5.45% $17,984
Sierra Pacific Mortgage Company, Inc. 39 5.22% $14,388
INSPIRE HOME LOANS INC. 39 4.14% $16,467
MUTUAL OF OMAHA MORTGAGE, INC. 39 4.81% $14,038
First Option Mortgage, LLC 38 5.30% $14,407
Neighborhood Loans, Inc. 37 4.93% $12,687
Paramount Residential Mortgage Group, Inc. 37 5.30% $13,560
Nations Lending Corporation 35 4.93% $15,099
BAY EQUITY LLC 34 5.20% $16,116
PINNACLE LENDING GROUP, INC. 32 4.67% $11,156
MORTGAGE SOLUTIONS OF COLORADO, LLC 32 4.78% $12,901
CHURCHILL MORTGAGE CORPORATION 32 5.25% $13,167
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 32 5.29% $12,583
PRIMARY RESIDENTIAL MORTGAGE, INC. 30 5.03% $14,606
ML Mortgage Corp. 30 4.84% $13,983
GENEVA FINANCIAL, LLC 27 5.08% $13,891
Century Mortgage Company DBA Century Lending Company 25 5.72% $14,113
Equity Prime Mortgage LLC 23 5.46% $14,454
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 21 5.85% $14,058
South Pacific Financial Corporation 20 4.41% $15,184
MASON MCDUFFIE MORTGAGE CORPORATION 20 5.04% $14,910
Hometown Lenders, Inc. 20 4.21% $13,946
PULTE MORTGAGE LLC 20 5.04% $7,801
OCMBC, INC. 20 6.13% $15,264
The Federal Savings Bank 19 4.72% $18,495
PREMIER MORTGAGE RESOURCES, L.L.C. 18 4.67% $15,315
Bank of England 18 5.19% $14,174
AMERICAN PACIFIC MORTGAGE CORPORATION 18 5.22% $14,782
ACADEMY MORTGAGE CORPORATION 17 5.26% $11,949
HOME FUNDING CORPORATION 17 5.29% $13,184
Prosperity Home Mortgage, LLC 17 4.68% $13,960
Wells Fargo Bank 17 4.69% $9,081
First Home Bank 16 5.63% $14,928
AMERICAN FINANCING CORPORATION 16 4.13% $11,054
PACIFIC RESIDENTIAL MORTGAGE, LLC 16 6.17% $12,340
ARK-LA-TEX FINANCIAL SERVICES, LLC. 16 5.45% $10,443
Gateway First Bank 15 5.47% $9,635
LADERA LENDING, INC. 15 5.33% $13,748
HAMILTON HOME LOANS, INC. 15 4.66% $13,055
RESIDENTIAL WHOLESALE MORTGAGE, INC. 14 4.37% $10,588
Loan Simple, Inc. 14 4.39% $11,401
U.S. Bank 14 4.81% $11,037
ON Q FINANCIAL, INC. 14 5.09% $13,060
DIRECT MORTGAGE LOANS, LLC 14 5.00% $14,398
Town Square Mortgage & Investments, Inc. 13 5.22% $11,306
JPMorgan Chase Bank 13 4.71% $9,953
NATIONS DIRECT MORTGAGE, LLC 13 4.79% $18,426
LEADERONE FINANCIAL CORPORATION 12 4.80% $11,541
AMERICA FIRST 12 5.09% $11,886
CANOPY MORTGAGE, LLC 11 4.45% $12,592
AmeriHome Mortgage Company, LLC 11 4.77% $13,292
ROUNDPOINT MORTGAGE SERVICING CORPORATION 11 4.50% $13,831
MID AMERICA MORTGAGE, INC. 10 5.27% $8,873
KELLER MORTGAGE, LLC 10 5.18% $13,249
CITY FIRST MORTGAGE SERVICES, L.L.C. 10 5.29% $14,311
Barrington Bank & Trust Company, N.A. 10 4.59% $10,448
United Fidelity Funding Corp. 9 5.36% $11,873
NFM, INC. 9 5.65% $17,337
HighTechLending Inc 9 5.44% $13,454
Bank of America 9 3.67% $8,020
MORIA DEVELOPMENT, INC. 9 4.76% $12,692
UNITED MORTGAGE CORP 9 4.87% $13,867
TJC Mortgage, Inc. 8 4.89% $13,953
HOMEOWNERS FINANCIAL GROUP USA, LLC 8 4.73% $12,185
FIRST COLONY MORTGAGE CORPORATION 8 4.95% $12,091
SOVEREIGN LENDING GROUP INCORPORATED 8 4.23% $12,491
East Coast Capital Corp. 8 4.73% $12,666
M&T Bank 8 4.52% $10,110
SWBC MORTGAGE CORPORATION 8 6.36% $8,153
BEST CAPITAL FUNDING 8 4.08% $13,426
SYNERGY HOME MORTGAGE, LLC 7 5.25% $12,027
AmRes Corporation 7 4.64% $14,182
MOUNTAIN AMERICA 7 4.07% $10,563
INTERCAP LENDING INC. 7 5.48% $14,131
BECKAM FUNDING CORP. 7 6.11% $16,245
UNITED 6 4.50% $14,192
ZILLOW HOME LOANS, LLC 6 4.81% $12,319
AMERICAN FINANCIAL RESOURCES, INC. 6 5.40% $9,724
Texana Bank 6 3.17% $12,499
TBI MORTGAGE COMPANY 6 4.54% $13,068
UNION HOME MORTGAGE CORP. 6 4.38% $11,123
Franklin Loan Corporation 6 6.08% $15,252
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 5.00% $16,876
MOUNTAIN WEST FINANCIAL, INC. 6 5.27% $15,130
CLARK COUNTY CREDIT UNION 6 5.23% $11,307
Citizens Bank 6 4.94% $12,317
CALCON MUTUAL MORTGAGE LLC 5 4.73% $11,930
CITYWIDE HOME LOANS, LLC 5 5.18% $12,249
ISERVE RESIDENTIAL LENDING, LLC 5 5.48% $10,781
S1L, Inc. 5 5.00% $14,595
Pacific Lending LLC 5 5.00% $9,749
VERITAS FUNDING, LLC 5 5.95% $21,491
Plains Commerce Bank 5 4.88% $9,231
Hometown Equity Mortgage, LLC 5 5.53% $14,638
Commerce Home Mortgage, Inc. 5 4.43% $8,955
BNC National Bank 5 4.78% $11,449
Magnolia Bank 5 5.33% $10,819
North American Savings Bank, F.S.B. 4 4.88% $10,568
VANDERBILT MORTGAGE AND FINANCE, INC. 4 5.31% $15,866
MICHIGAN MUTUAL, INC. 4 4.75% $11,134
Cornerstone First Mortgage, Inc 4 4.69% $9,095
GUARANTEED RATE AFFINITY, LLC 4 4.89% $15,116
DRAPER AND KRAMER MORTGAGE CORP. 4 3.69% $13,103
CHERRY CREEK MORTGAGE, LLC 4 6.38% $5,334
PHH Mortgage Corporation 4 5.50% $11,904
Servion, Inc. 4 4.81% $9,163
First Savings Bank 4 3.25% $13,473
JMJ FINANCIAL GROUP 3 4.75% $16,469
Sunflower Bank 3 5.29% $11,020
DAS Acquisition Company, LLC 3 5.71% $13,463
LAND HOME FINANCIAL SERVICES, INC. 3 6.21% $13,512
INTELLILOAN, INC. 3 3.75% $9,840
BELEM SERVICING LLC 3 3.00% $11,968
NBKC BANK 3 4.38% $11,823
NATIONWIDE MORTGAGE BANKERS, INC. 2 5.25% $13,111
CORNERSTONE HOME LENDING, INC. 2 6.38% $11,598
MEMBER FIRST MORTGAGE, LLC 2 5.06% $8,898
MUFG Union Bank 2 5.94% $7,155
Zions Bank 2 3.75% $10,082
Waterstone Mortgage Corporation 2 5.63% $18,718
ALAMEDA MORTGAGE CORPORATION 2 5.81% $13,151
Wyndham Capital Mortgage, Inc. 2 4.94% $10,538
UNIVERSAL MORTGAGE & FINANCE, INC. 2 5.19% $11,897
Peoples Bank 2 5.56% $15,642
PLAZA HOME MORTGAGE, INC. 2 5.62% $12,002
Chickasaw Community Bank 2 5.00% $10,403
Armed Forces Bank 2 4.19% $9,807
HOMEXPRESS MORTGAGE CORP. 2 4.63% $17,174
UNITED SECURITY FINANCIAL CORP 2 7.00% $19,433
FirstBank 2 4.56% $9,146
Mortgage Research Center, LLC 2 5.31% $7,937
First Bank 1 3.88% $8,043
EMBRACE HOME LOANS, INC. 1 3.25% $19,318
MLD MORTGAGE INC. 1 4.88% $12,096
DIRECT MORTGAGE, CORP. 1 3.00% $9,906
DIGNIFIED HOME LOANS, LLC 1 5.63% $9,031
Mutual Federal Bank 1 4.88% $16,886
CRESCENT MORTGAGE COMPANY 1 3.38% $13,580
CLEARPATH LENDING 1 3.75% $14,318
JMAC LENDING, INC. 1 3.25% $14,735
PREMIA MORTGAGE, LLC 1 2.99% $9,586
ANGEL OAK HOME LOANS LLC 1 4.38% $13,497
Simmons Bank 1 3.25% $8,206
The Central Trust Bank 1 4.25% $10,335
The Union Bank Company 1 4.25% $7,056
Florida Capital Bank 1 4.50% $10,789
Umpqua Bank 1 3.00% $12,625
Utah Mortgage Loan Corporation 1 5.75% $21,236
V.I.P. MORTGAGE, INC. 1 4.75% $13,548
Wolfe Financial, Inc 1 3.00% $19,500
WRIGHT-PATT CREDIT UNION, INC. 1 5.63% $9,847
Evolve Bank & Trust 1 4.13% $20,203
Low VA Rates, LLC 1 4.63% $10,576

The top Nevada FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 866 FHA loans originated. Their average total fees are $14,053, which is $1,905 higher than the next largest lender, LOANDEPOT.COM, LLC.

The lowest fee Nevada FHA lenders (with over 10 loans originated) are HOMEAMERICAN MORTGAGE CORPORATION ($6,954), NOVA FINANCIAL & INVESTMENT CORPORATION ($7,087), LAKEVIEW LOAN SERVICING, LLC ($7,093), PULTE MORTGAGE LLC ($7,801) and VILLAGE CAPITAL MORTGAGE ($7,842).

The lowest rate Nevada FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE (3.51%), LAKEVIEW LOAN SERVICING, LLC (3.64%), LOANPAL, LLC (4.08%), AMERICAN FINANCING CORPORATION (4.13%) and INSPIRE HOME LOANS INC. (4.14%).

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).