The short answer: You do not need 20% down. FHA requires at least 3.5%, some Fannie Mae loans allow 3% down, and VA and USDA can offer zero down if you qualify. Clark County's 2026 FHA limit for one unit is $541,287, and the conventional limit is $832,750. Plan separately for closing costs, which CFPB says commonly run 2% to 5% of the price nationally.
This post is for you if:
- You are buying your first home in Las Vegas, Henderson or North Las Vegas.
- You are comparing FHA, conventional, VA and USDA and want to see them side by side.
- You want to know what cash you really need on closing day.
Want to talk it through with someone who does this every day? Book a free call. No pressure.
Book a free callWhat loan options do first-time buyers have?
| Loan | Down payment, per the source | Watch for |
|---|---|---|
| FHA | At least 3.5% minimum required investment | Clark County one-unit limit $541,287 for 2026 |
| Conventional (Fannie Mae 97%) | 3% down on eligible loans | One-unit primary residence, usually at least one first-time buyer, other conditions apply |
| VA | No down payment if price does not exceed the appraisal | Certificate of Eligibility, occupancy, funding fee unless exempt |
| USDA Guaranteed | 100% financing possible | Eligible rural address, primary residence, income up to 115% of area median |
Lenders can add rules of their own, called overlays, so your lender's matrix decides what you actually get. I did not find a universal FHA credit score cutoff in HUD's current sources, so I will not give you one.
What are the 2026 loan limits in Clark County?
- FHA, 1 to 4 units: $541,287, $693,050, $837,700 and $1,041,125 (HUD, effective January 1, 2026).
- Conforming, 1 to 4 units: $832,750, $1,066,250, $1,288,800 and $1,601,750 (FHFA, 2026).
More on this in my Nevada loan limits guide.
How much cash do you need on closing day?
Think in four buckets: down payment, closing costs, prepaid items such as insurance and taxes set aside in escrow, and moving or repair money. CFPB's national planning range for closing costs, not including the down payment, is 2% to 5% of the price. It also suggests keeping at least three to six months of expenses in reserve. That is a national range, not a Las Vegas quote.
Nevada transfer tax in Clark County is $2.55 per $500 of value or fraction. A contract can say who pays it, but buyer and seller stay jointly liable. Property tax depends on the tax district and the parcel, so ask for the actual number on the home you want. See my Nevada closing costs guide.
What help is available?
Nevada has down payment assistance. My breakdown of Home Is Possible Nevada covers the terms, including the fact that most options are second mortgages you repay. Nevada Rural Housing has programs for eligible rural parts of Clark County, and you have to check the exact address on their map. HUD-approved housing counselors can also help. CFPB lists 1-800-569-4287 for counselor information. None of these are guaranteed funding, so ask about availability and rules.
Want a plan built around your numbers? Book a free call and bring your questions.
Book a free callWhat are the steps from start to keys?
- Set a monthly budget you are comfortable with, and keep money aside for emergencies.
- Compare loan types with a lender and ask about overlays.
- Get written Loan Estimates. A lender must send one within three business days of a complete application, and it is not an approval.
- Make an offer, then get an inspection before you are fully committed.
- Review the appraisal, title, insurance and HOA documents.
- Compare your Closing Disclosure, due at least three days before closing, with your estimate.
I explain each stage in the Las Vegas home buying process and on my first-time buyer page.
Frequently asked questions
How much do I need for a down payment in Las Vegas?
It depends on the loan. FHA requires at least 3.5%, eligible Fannie Mae loans allow 3%, and VA or USDA can allow zero down if you qualify.
What is the FHA loan limit in Las Vegas for 2026?
For Clark County, HUD lists $541,287 for a one-unit home.
Does a Loan Estimate mean I am approved?
No. It shows estimated terms. The lender has not yet approved or denied you.
Do first-time buyers have to complete education?
Some programs require it. Fannie Mae can require it for certain high loan-to-value first-time cases, and Home Is Possible requires it for all buyers.
Can I buy with USDA in Las Vegas?
Only if the exact address is in an eligible rural area. Check the property address before you count on it.
Sources
Last verified October 28, 2026. Programs, limits and fees change, so confirm the current numbers before you rely on them.
- HUD: 2026 FHA forward loan limits
- FHFA: Conforming loan limits
- HUD FHA Handbook glossary
- Fannie Mae: 97% LTV options
- VA: Purchase loan
- USDA Rural Development: Guaranteed loan program
- CFPB: Determine your down payment
- CFPB: Review Loan Estimates
- Clark County Recorder: Declaration of Value packet
- Nevada Rural Housing: Down payment assistance
- Clark County Assessor: Real property
Ready to take the first step? Book a free call and we will map out your plan.
Book a free callI am Fabion Medhanie, a retired U.S. Army Captain and mortgage broker in Las Vegas. This is education, not a rate quote or a loan approval. Your loan options depend on your full file.
Based in Las Vegas? Meet a veteran-led mortgage broker in North Las Vegas, or see VA loans and all loan options.
