Buying your first home inLas Vegas.
A plain-English roadmap to your first Las Vegas home. First-time buyers can put down a low amount on a qualifying conventional loan, with FHA close behind, and Nevada down-payment assistance can add up to $20,000 toward closing — updated July 2026. Pick the right loan, stack the help, see what you can afford, and follow the steps. One local team for all of it.
What mortgage terms should first-time buyers know?
Four terms come up in almost every first-time-buyer conversation: conforming loan, PMI, DTI, and cash to close. Here's what each one means before you compare loan options.
- Conforming loan
- A conventional loan that fits Fannie Mae or Freddie Mac size and guideline limits.
- PMI
- Private mortgage insurance. It is commonly required when a conventional buyer puts less than 20 percent down.
- DTI
- Debt-to-income ratio. It compares monthly debts to gross monthly income before taxes.
- Cash to close
- The total money needed at closing, including down payment, closing costs, prepaids, and escrow deposits.
This is general education, not a final approval or binding quote. The right answer comes from a full mortgage review with your actual details.
How much down payment do first-time buyers need in Las Vegas?
First-time buyers in Las Vegas can put down a low percentage on a qualifying conventional loan — the Conventional 97 program — a slightly higher minimum on an FHA loan with a 580+ FICO score (more down for a 500-579 FICO score), or no down payment at all with an eligible VA entitlement. Here is how the three main programs compare for a Clark County purchase in 2026.
| Feature | Conventional (first-time buyer) | FHA | VA |
|---|---|---|---|
| Minimum down payment | Lowest | Slightly higher (580+ FICO) / higher still (500-579 FICO) | None required with eligible entitlement |
| Typical minimum credit score | 620, often preferred higher | 580 (many lenders overlay to 620) | No agency-set minimum; lender overlays vary |
| Mortgage insurance | PMI, removable at 20-22% equity | Upfront 1.75% UFMIP + annual MIP of 0.55% (loans over 15 years, under 95% LTV) or 0.50% (over 15 years, 95% LTV or less) | No monthly PMI (VA funding fee applies) |
| 2026 Clark County loan limit | $832,750 (conforming, 1-unit) | $541,287 (1-unit) | Matches conforming limit for full entitlement |
"FHA loans require a minimum down payment of 3.5 percent for borrowers with a credit score of 580 or higher; borrowers with a score between 500 and 579 must put down at least 10 percent."
U.S. Department of Housing and Urban Development — hud.gov/program_offices/housing/sfh
See the CFPB's owning-a-home resources for a neutral rundown of loan types and down-payment assistance, and the Fannie Mae homebuyer education hub for conventional first-time-buyer program details. Numbers above are illustrative and not a quote, offer, or commitment to lend; program terms and limits change and should be confirmed with us before you write an offer. Valley West Mortgage is a Nevada-licensed mortgage lender (license #2118) and is not affiliated with or endorsed by the FHA, HUD, or any government agency.
Quick answer — To buy your first Las Vegas home, get pre-qualified, pick the loan that fits you (conventional, FHA, or VA, each with a different minimum down payment), stack Nevada down-payment help, then make an offer. Compare all four options in our Las Vegas home loans guide. Valley West Mortgage guides first-time buyers through all of it.
Led by Vatche Saatdjian · Las Vegas mortgage expert since 2004 · NMLS #69363 · Updated July 2026
How do I buy my first home in Las Vegas?
In three moves: get pre-qualified, pick the right loan and assistance, then make an offer. Here's the shape of it.
What loan programs help first-time buyers in Nevada?
Four real paths to a first Las Vegas home. Compare them side by side, then jump to the one that fits — we'll confirm your match.
Best for buyers with solid credit who want removable mortgage insurance.
- Credit: strong preferred
- PMI removable at 20% equity
Best for buyers with flexible credit or a smaller cushion of savings.
- Credit: often FICO 580+
- Gift funds allowed
Best for eligible Veterans and active-duty service members.
- No monthly PMI
- Service eligibility required
Best paired with any loan above to shrink your cash to close.
- Nevada DPA programs
- Covers down + closing
Not sure which fits? Get pre-qualified and we'll route you to your strongest option. Minimums shown are program guidance, not quotes.
What down-payment assistance is available in Las Vegas?
The Nevada Housing Division runs several programs — Home Is Possible, Home First, Nevada Worker Advantage, and HIP for Teachers — that can cover up to $20,000 toward your down payment and closing costs. Most stack on top of the loan you choose; see the full Las Vegas down-payment assistance guide for how each one works.
Home Is Possible
Forgivable assistance toward your down payment and closing costs for qualifying Nevada buyers, from the Nevada Housing Division.
See how it worksHome First
First-time-buyer help with down payment and closing costs across Clark County.
Check eligibilityNevada Worker Advantage
Nevada Housing Division assistance for eligible essential workers — health care, education, public safety, and construction — repaid at sale or refinance, not forgiven.
Read the full guideHIP for Teachers
Targeted down-payment help for eligible Nevada teachers and school staff.
Check eligibilityProgram names, amounts, and eligibility are set by the program administrators and change over time — confirm current details with us. Availability depends on income, location, and funding.
How much house can I afford in Clark County?
Most first-time buyers in Clark County stay well under the 2026 conforming loan limit of $832,750, with a representative purchase price near $450,000. Here's the ceiling, plus a quick sense of what a typical purchase looks like.
A typical first purchase
Illustrative only — not a rate quote or loan offer. Use our affordability tool for your numbers.
What are the steps to buy a home in Las Vegas?
Buying your first Las Vegas home takes five steps: pre-approval, shopping, offer and inspection, underwriting, and closing. Here's the whole journey at a glance.
Pre-approval
Know your budget and your loan options.
Shop
House-hunt with a real number in hand.
Offer & inspect
Write a strong offer, then inspect.
Underwriting
We package and clear your file.
Close
Sign and get the keys.
Go deeper before you buy.
Conforming limit, Nevada
The 2026 Clark County conforming limit and how down payment works.
Read the guideConventional requirements
Credit, down payment, DTI, and PMI removable at 20% equity.
Read the guideHow much house can I afford?
Run the numbers for your income, debts, and down payment.
Open the toolYour Las Vegas buyer toolkit
- U.S. Department of Housing and Urban Development (HUD) — FHA minimum down payment and single-family loan limits, Clark County (2026). hud.gov
- Federal Housing Finance Agency (FHFA) — 2026 conforming loan limits by county. fhfa.gov/data/conforming-loan-limit
- Consumer Financial Protection Bureau (CFPB) — owning-a-home resources, loan types, and down-payment assistance. consumerfinance.gov/owning-a-home
- Fannie Mae — conventional first-time-buyer program eligibility and homebuyer education. fanniemae.com/education
What do first-time buyers in Las Vegas ask most?
How do I buy my first home in Las Vegas?
How much down payment do first-time buyers need?
Which loan is best for a first-time buyer in Nevada?
What credit score do I need to buy a home?
Is there a conventional loan limit in Clark County?
Can I get down-payment help and still buy this year?
How long does it take to buy a home in Las Vegas?
Why use a local Las Vegas mortgage lender as a first-time buyer?
Read what first-time buyers say.
Customer experiences may vary. Reviews do not guarantee loan approval, rates, terms, or outcomes.
Your first home is
a conversation away.
One application. One local team and a clear path to the right first-home loan and the down-payment help that fits you.