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 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).