Deciding between a VA loan and conventional loan for your Nevada home? Compare side-by-side benefits, requirements, costs, and which option saves you the most money in Las Vegas, Reno, and Henderson.
Key differences that impact your monthly payment, upfront costs, and long-term savings in Nevada.
| Feature | VA Loan | Conventional Loan |
|---|---|---|
| Down Payment |
0%
No down payment required
|
3-20%
Typically 5-20% required
|
| Mortgage Insurance |
None
No monthly PMI
|
Required
PMI if under 20% down
|
| Funding/Origination Fee |
2.15-3.3%
One-time VA funding fee
|
0-1%
Lower origination fees
|
| Minimum Credit Score |
580-620
Lender discretion
|
620-680
Higher for best rates
|
| Interest Rates |
Typically Lower
Government-backed advantage
|
Competitive
Varies by credit/down payment
|
| Debt-to-Income Ratio |
Up to 50-55%
More flexible
|
43-50%
Stricter guidelines
|
| Property Types |
Limited
Primary residence only, up to 4 units
|
Flexible
Primary, second homes, investment
|
| Loan Limits (Nevada) |
No Limit
With full entitlement
|
$806,500
Clark County 2025
|
| Reusability |
Lifetime Benefit
Use multiple times
|
Standard
Not a special benefit
|
| Closing Costs |
Lower
Seller can pay up to 4%
|
Standard
Seller can pay up to 3-6%
|
| Eligibility |
Veterans Only
Must meet service requirements
|
Anyone
No service requirement
|
Understanding which loan best fits your situation helps you maximize your Nevada homebuying power
You're eligible for VA benefits
Active duty, veteran, reservist, or surviving spouse
You have little to no down payment saved
0% down means you can buy now in Nevada's competitive market
Your credit is fair (580-660)
VA loans are more forgiving than conventional requirements
You want to avoid PMI forever
No monthly mortgage insurance saves $100-300/month in Nevada
You're buying under $766,550
2025 VA loan limit covers most Nevada homes
You plan to live in the home
VA requires owner occupancy (primary residence)
You're not eligible for VA benefits
Civilian homebuyers use conventional loans
You have 5-20% down payment saved
Larger down payment = lower monthly payment & better rates
Your credit score is 680+
Strong credit unlocks the best conventional rates
You're buying a luxury home over $766,550
Jumbo conventional loans handle Nevada's high-end market
You're buying an investment property
Conventional allows non-owner-occupied purchases
You want flexibility in property types
Condos, co-ops, and unique properties often easier with conventional
See how VA and conventional loans stack up in actual Nevada homebuying situations
Home Price: $425,000 | Credit: 620 | Down Payment: $0
VA Loan
Monthly: $2,847
Funding Fee: $8,925
Total Upfront: ~$8,925
Conventional
Monthly: $3,186
Down Payment: $21,250 (5%)
Total Upfront: ~$21,250
Winner: VA saves $12,325 upfront + $339/month
Home Price: $550,000 | Credit: 740 | Down Payment: $110,000
VA Loan (if eligible)
Monthly: $3,686
Down: $0 needed
Rate: 6.75%
Conventional
Monthly: $3,512
No PMI with 20% down
Rate: 6.25%
Winner: Conventional saves $174/month with 20% down & excellent credit
Home Price: $380,000 | Credit: 660 | Disability: 10%+
VA Loan
Monthly: $2,546
Funding Fee: $0 (exempt)
Total Upfront: ~$0
Conventional
Monthly: $2,837
Down + PMI required
Total Upfront: ~$19,000
Winner: VA saves $19,000 upfront + $291/month (disabled vets save most)
Not sure which loan fits your situation?
Get Personalized RecommendationSeparating fact from fiction to help Nevada veterans and homebuyers make informed decisions
"VA loans take longer to close than conventional"
VA loans close in 30-40 days on average, same as conventional. Experienced lenders close VA loans just as fast.
"Sellers don't accept VA loans because appraisals are too strict"
85%+ of Nevada sellers accept VA offers. VA appraisals protect you from buying a money pit. Strong pre-approval overcomes stigma.
"Conventional always has lower rates"
VA rates are often 0.25-0.5% lower than conventional for the same borrower. Government backing = better rates for veterans.
"You can only use VA loan once"
You can use VA benefits multiple times! Entitlement restores when you sell or refinance. Some veterans use it 5+ times over their lifetime.
"Conventional is better for investment properties"
True! VA requires owner-occupancy. For Nevada investment properties or vacation homes, conventional is your only option.
"VA funding fee makes it more expensive"
Even with funding fee, VA saves money vs conventional with PMI. No ongoing monthly insurance cost = thousands saved over time.
Our Nevada VA loan specialists clear up confusion and show you exactly which loan saves you the most money
Nevada veterans and homebuyers ask us these questions every day
Our team provides personalized guidance on VA vs conventional based on your unique situation
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