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Las Vegas · Conventional guide · 2026
3% to 20% down —what changes, and why.
From 3% down. Removable PMI. Lower rates.
Conventional loans start as low as 3% down — and your down payment changes more than the cash you need. Here is the honest 2026 breakdown of PMI, cash to close, and loan limits for Las Vegas, Henderson, and North Las Vegas buyers, and how to pay less.
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The short answer
In Nevada, a conventional loan can start at just 3% down — and your down payment changes more than your cash. Below 20% you add removable PMI; at 20% you skip it. Comparing 3%, 5%, 10%, and 20% shows the real trade-off in cash, PMI, and payment.
Start my mortgage reviewUpdated June 16, 2026 · Reviewed by Valley West Mortgage · NMLS #65506 · Equal Housing Lender
3% down is possibleFor qualifying buyers on a primary home.
PMI is removableIt cancels as you reach 20% equity.
20% is a benchmarkNot a rule — many buy sooner with less.
Conforming to $832,750Above it is jumbo/high-balance in Clark County.
The honest breakdown
What your conventional down payment really changes
Conventional loans start as low as 3% down for qualifying buyers — and the amount you put down changes your loan size, your PMI, and your monthly payment all at once. Knowing how each scenario compares is how Las Vegas buyers choose between buying sooner and waiting for more down.
Usually financed
The VA funding fee
A one-time charge that replaces mortgage insurance — 2.15% on a first-use, $0-down purchase. It's rolled into the loan, so it raises your balance, not your cash to close.
In your control
Your down payment
3%, 5%, 10%, or 20% — more down means a smaller loan, lower PMI, and a lower payment. The right number depends on your goals and cash, not a fixed rule.
2–4% of price
Closing costs & reserves
Lender fees, the appraisal, title and escrow, plus prepaid taxes and insurance and any required reserves. Seller credits can offset much of it.
2026 conventional down payment & PMI
| Down payment | Cash (on $478k) | Monthly PMI |
|---|---|---|
| 3% down | $14,340 | Until 20% equity |
| 5% down | $23,900 | Until 20% equity |
| 10% down | $47,800 | Until 20% equity |
| 20% down | $95,600 | None |
Source: Fannie Mae / Freddie Mac 2026 guidelines. The 2026 conforming limit for Clark County is $832,750; PMI (est. ~0.6%/yr) is removable at 20% equity. Not all borrowers qualify for 3% down.
See your exact scenario
A quick local review models 3%, 5%, 10%, and 20% down so you can compare cash, PMI, and payment — priced in-house.
Worked Las Vegas example
A $478,000 Las Vegas conventional purchase
The same home two ways — 5% down with PMI and 20% down with none — at the Q1 2026 median, sample 6.125% over 30 years. Labeled estimates only.
5% down · with PMI
Home price$478,000
Down payment (5%)$23,900
Loan amount$454,100
Est. rate (sample)6.125% / 30-yr
Monthly P&I (est.)$2,758
PMI (~0.6%, removable)$227
Est. taxes + insurance$370
PMI ends at 20% equity−$227
Est. cash to close (~3% + down)~$38,240
20% down · no PMI
Home price$478,000
Down payment (20%)$95,600
Loan amount$382,400
Est. rate (sample)6.125% / 30-yr
Monthly P&I (est.)$2,323
PMI$0 — none
Est. taxes + insurance$370
Est. cash to close (~3% + down)~$109,940
When PMI drops off
$227/mo
PMI removed at 20% equity
Unlike FHA, conventional PMI is temporary. Once you reach 20% equity it cancels and drops off your payment permanently — so the 5%-down path costs less every month after that point. We model when it happens.
Want this run on your real price?
We'll model 3%, 5%, 10%, and 20% down — payment, PMI, and cash to close — for any Las Vegas, Henderson, or North Las Vegas home.
Estimate only — not a Loan Estimate, rate quote, or commitment to lend. Median price per Las Vegas REALTORS (GLVAR) Q1 2026; PMI est. ~0.6%/yr, removable at 20% equity; rate is a sample assumption, not an available rate. Valley West Mortgage · NMLS #65506.
The honest picture
Your down payment changes the whole picture.
For a $478,000 Las Vegas conventional purchase, here's how 3%, 5%, and 20% down compare on cash to close, PMI, and monthly payment.
Cash to close — 5%-down conventional$478k Las Vegas home
~$38kest. cash
Down payment (5%)~$23,900
Closing costs & fees~$8,600
Prepaids & reserves~$5,740
PMI applies below 20% down — but it's removable at 20% equity.
Cash to close by loan typesame $478k home
Less down means less cash now but PMI until 20% equity — more down means more cash now but no PMI.
Monthly mortgage insurancefirst 5 years, est.
5% down — ~$227/mo PMI10% down — ~$150/mo PMI20% down — $0 PMI
Conventional PMI cancels at 20% equity — temporary, unlike FHA MIP, so the long-run cost can be lower.
Want your real number?
A quick local review compares 3%, 5%, 10%, and 20% down, your PMI, and a closing-cost plan that fits your offer.
Not a commitment to lend or a Loan Estimate. Subject to credit approval, program guidelines, and property eligibility. NMLS #65506.How to pay less
Six ways Nevada buyers lower their conventional cost
Your down payment is a lever, not a rule. Here’s how Las Vegas buyers lower their conventional cost — across cash to close, PMI, and the monthly payment.
Compare down payments
Find the sweet spot
3% buys sooner; 20% skips PMI. We model each scenario so you see the trade-off in cash, PMI, and payment side by side.
Plan PMI removal
Temporary cost
PMI isn't forever. We show the exact month it cancels at your equity pace, so you know when your payment drops.
Time your review first
Stronger offers
Get pre-approved before you make an offer. A verified conventional pre-approval lets you negotiate credits from a position of strength.
Keep cash for prepaids
No surprises
Closing needs prepaids and sometimes reserves. Budget for them so closing day is smooth — we tell you the number up front.
Compare your options
Priced in-house
As a direct local lender we price your file ourselves and compare conventional vs other paths — so you see the lowest total cost, not just the lowest teaser.
What not to do
Don't wait for 20% down if a lower-down option fits you now, and don't assume conventional is always cheaper. The right path depends on your numbers — a local review weighs all of it together.
Want a plan to lower your cash to close?
We'll compare down-payment scenarios, PMI, and seller credits against your real Las Vegas numbers — no obligation, options subject to approval.
Local guidance
Get local mortgage guidance before you guess your numbers
A national call center reads from a script. A local Las Vegas team knows Clark County escrow, conforming vs jumbo limits, PMI removal timing, and how to structure seller credits in this market. That context is the difference between a generic estimate and a plan that actually closes.
Get local guidance before you apply
Share a few details and a Valley West Mortgage team member can help you understand your next step, estimated cash needed, and which conventional path may fit — 3% to 20% down, real PMI, real numbers.
Start my mortgage review No obligation. Secure online start. Options subject to approval. NMLS #65506.
Across the valley · 2026
Conventional buying power across the Las Vegas valley
Price drives your down payment, your PMI, and whether you're conforming or jumbo — and it varies sharply across Clark County. The 2026 conforming limit is $832,750; here's where each Las Vegas-area market sits, and how a local lender models your scenario. Nevada's low property taxes and no state income tax keep the monthly payment competitive everywhere you shop.
Las Vegas · valley-wide
~$478k median
At the Q1 2026 median, 5% down is about $23,900 with removable PMI — well under the conforming limit. A balanced market near 2.9 months of supply leaves room to negotiate seller credits.
North Las Vegas · entry
~$420k median
The affordability play — a lower price means a smaller down payment and lower PMI. Newer master-planned communities make it popular with first-time conventional buyers.
Henderson · premium
~$520k+ median
Higher median with strong schools and amenities — still conforming. A 10–20% down conventional loan keeps PMI low or skips it entirely at this price point.
Summerlin · higher balance
~$650k+ median
Master-planned and premium — approaching the $832,750 conforming limit. Above it you'd compare high-balance or jumbo; we model both so the math decides.
Clark County · the picture
$832,750 conforming limit
Every Clark County market sits at the FHFA baseline — no high-cost designation. Above it is jumbo/high-balance. A local Las Vegas mortgage lender prices your file in-house countywide.
Jumbo & high-balance · the edge
Above the limit
Loans above $832,750 are jumbo or high-balance, with their own credit and reserve guidelines. We price these in-house so a higher Las Vegas price stays a clear, comparable option.
Not sure which area fits your budget?
A Nevada mortgage review models your down payment, PMI, and cash to close for any Las Vegas, Henderson, North Las Vegas, or Summerlin price point — priced in-house.
Avoid these
Four mistakes that cost Nevada conventional buyers
01
Waiting for 20% down
If a 3–10% down option fits you now, waiting years to save 20% can cost more in rising prices than the temporary PMI would. Compare both before you decide.
Buy sooner?
02
Forgetting PMI is removable
Conventional PMI cancels at 20% equity — it's temporary. Treating it as a permanent cost can steer you to the wrong down payment.
It cancels
03
Skipping the seller-credit conversation
In a balanced Las Vegas market near 2.9 months of supply, sellers often contribute toward closing costs — frequently the single biggest lever on your cash to close.
Biggest lever
04
Treating an online rate as your rate
Advertised rates aren't offers. Your real conventional rate is priced from credit, loan-to-value, occupancy, and lock — see today's rates or request your number.
Get real
Your next steps
From eligible to keys, in three moves
Step 1
Confirm your scenario
Review your credit, down-payment budget, and goals. We confirm whether 3%, 5%, 10%, or 20% down fits your situation best.
Step 2
Run your real numbers
Use the conventional calculator with the down-payment and PMI toggles to model your payment and cash to close at your target Las Vegas price.
Step 3
Get human-reviewed preapproval
A real underwriter-style review and a closing-cost plan from a local Las Vegas team — priced in-house, with no pressure and no commitment.
Ready when you are
Start a local mortgage review and compare your down-payment options — with real numbers, not a guess.
Frequently asked
Conventional down payment, answered.
What is the minimum down payment on a conventional loan in Las Vegas?
Many qualifying buyers can put as little as 3% down on a primary residence — about $14,340 on a $478,000 Las Vegas home. Not all borrowers qualify; pricing depends on credit and loan-to-value. Closing costs apply on top.
When does conventional PMI apply and when does it go away?
PMI applies when you put less than 20% down. Unlike FHA it's removable — you can request removal at 80% loan-to-value and it cancels automatically at 78%.
Is 20% down required for a conventional loan?
No. 20% down avoids PMI, but it's a benchmark, not a rule. Many buyers choose 3–10% down and pay temporary, removable PMI to buy sooner.
What is the 2026 conforming loan limit in Clark County?
The 2026 baseline conforming limit is $832,750 for one-unit homes in Clark County. Loans above it are jumbo or high-balance with their own credit and reserve guidelines.
How much are conventional closing costs in Las Vegas?
Plan for roughly 2–4% of the price in closing costs, prepaids, and reserves. Seller credits can reduce your cash to close.
How fast can a Las Vegas conventional purchase close?
Many local conventional purchases close in about 20–30 days once your file is complete. A local team that prices and underwrites in-house keeps the timeline tight.
Methodology: conforming limit ($832,750, Clark County) per FHFA 2026; PMI est. ~0.6%/yr, removable at 20% equity; Las Vegas median (~$478,000, Q1 2026) per Las Vegas REALTORS (GLVAR); sample rates reference Freddie Mac PMMS ranges and are labeled assumptions, not available rates. Not a commitment to lend or a Loan Estimate. Reviewed by Valley West Mortgage · NMLS #65506 · Equal Housing Lender · Updated June 16, 2026.
From the families we serve
Read what buyers say.
★★★★★
They actually shopped my file. Three lenders, one application — and beat my bank by a quarter point.
Marcus T. · Army · Henderson
★★★★★
We put 5% down and the PMI was tiny — then dropped off two years later. Closed in 26 days.
Jessica & Ray K. · Air Force
★★★★★
The rate-and-term refinance was smooth — barely any paperwork, and my payment dropped right away.
Daniel R. · Marine Corps
★★★★★
Every number was explained clearly. No surprises at closing — exactly what they told us up front.
Priya H. · Navy · Las Vegas
★★★★★
A real local team that picked up the phone every time. Felt like they were on our side the whole way.
Carlos G. · Army · Enterprise
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They compared 5% and 20% down for us and showed the real math. No pressure. Five stars.
Tasha W. · Air Force · Spring Valley
★★★★★
They beat my bank’s quote with a rate I couldn't find anywhere — smooth, fast, and honest the whole way.
Marcus T. · Henderson, NV
★★★★★
Closed in under a month. Every question answered by a real local person, never a call center.
Dana R. · Las Vegas, NV
★★★★★
No surprise fees, no pressure. They explained every number until it actually made sense to us.
Priya & Sam · North Las Vegas
Customer experiences may vary. Reviews do not guarantee loan approval, rates, terms, or outcomes.
Your down payment is
waiting to be used.
One application. One local team, lower rates, and a clear path to your strongest conventional option — from 3% down, removable PMI, lower rates.