How much down payment do I need to buy a house in Nevada?

You can buy a home in Nevada with as little as 0% down (VA/USDA), 3% down ($12,750 conventional), or 3.5% down ($14,875 FHA) on the median-priced home of $425,000.

What income do I need to buy a home in Nevada?

To afford the median-priced home in Nevada ($425,000) with a 30-year mortgage at 6.22%, you typically need a household income of approximately $105,608 per year (using the 28% rule). The median income in Nevada is $63,276.

What is the FHA loan limit in Nevada for 2026?

The FHA loan limit in Nevada for 2026 is $517,500. This means first-time buyers using FHA loans can finance up to this amount with just 3.5% down payment.

First-Time Home Buyer Nevada 2026

Q: What first-time home buyer programs are available in Nevada?

Nevada offers 2 major first-time buyer programs including Home Is Possible, Home Is Possible for Heroes. These programs provide grants, forgivable loans, and below-market rates to help with down payment and closing costs.

Your complete guide to buying your first home in Nevada. 2+ down payment assistance programs, FHA loans from 6.02%, and step-by-step guidance.

Median Price

$425,000

Min Down (FHA)

$14,875

DPA Programs

Best Rate

6.02%

Check My Nevada Eligibility

What First-Time Buyer Programs Are Available in Nevada?

Nevada offers 2 major first-time home buyer assistance programs. These include Home Is Possible, Home Is Possible for Heroes. Programs provide up to 5% of loan in down payment assistance through grants, forgivable loans, and below-market interest rates.

How Much Do I Need to Buy in Nevada?

You can buy a home in Nevada with as little as $0 down. VA and USDA loans require zero down payment. FHA loans need just 3.5% ($$14,875), and conventional loans start at 3% ($$12,750) on the median price of $425,000.

Loan Type	Down Payment	$ Amount	Monthly P&I	Min Credit
VA Loan	0%	$0	$2,540	620
USDA Loan	0%	$0	$2,609	640
Conventional 3%	3%	$12,750	$2,530	620
FHA Loan	3.5%	$14,875	$2,464	580
Conventional 20%	20%	$85,000	$2,087	620

Nevada Down Payment Assistance Programs

Home Is Possible

DPA up to 5% as forgivable second mortgage

Up to 5% of loanforgivable

Home Is Possible for Heroes

Special DPA for teachers, military, nurses, police

Up to 5% of loanforgivable

5 Steps to Buy Your First Home in Nevada

To buy your first home in Nevada, start by checking your credit score, getting pre-approved, and researching DPA programs. The entire process typically takes 30-60 days from pre-approval to closing. Here's your step-by-step roadmap.

Check Your Credit & Finances

Review your credit score (aim for 620+), calculate your debt-to-income ratio, and save for closing costs. In Nevada, you may need as little as $14,875 for an FHA down payment.

Get Pre-Approved

Compare rates from at least 3 lenders. Current Nevada rates: 6.22% (30-year), 6.02% (FHA). Pre-approval shows sellers you're serious and locks your rate.

Apply for Nevada DPA Programs

Nevada has 2+ DPA programs. The Home Is Possible offers up to 5% of loan. Apply early—funding can be limited.

House Hunt & Make an Offer

Popular cities in Nevada: Las Vegas, Henderson, Reno, North Las Vegas, Sparks. Median price is $425,000 (+3.5% YoY). Work with a local real estate agent who knows the market.

Close on Your New Home

Closing costs in Nevada typically run 2-5% of the purchase price ($12,750-$21,250). Some DPA programs also cover closing costs.

Start Your Nevada Home Buying Journey

Get pre-approved in minutes and see what you qualify for.

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Nevada First-Time Buyer FAQ

What first-time home buyer programs are available in Nevada?

Nevada offers 2 major programs: Home Is Possible, Home Is Possible for Heroes. These provide grants, forgivable loans, and below-market rates for down payment and closing cost assistance.