Key takeaways
- VA: $0 down, no PMI — eligible veterans with full entitlement can buy with no down payment and no monthly mortgage insurance in Clark County.
- FHA: 3.5% down with FICO 580+ and a 2026 Clark County loan limit of $541,287 (source: HUD).
- FHA MIP lasts the life of the loan when you put less than 10% down; VA has no recurring MIP at all.
- Veterans with a service-connected disability rating are exempt from the VA funding fee entirely — making VA even cheaper than FHA upfront.
- No military eligibility? FHA is the clearest path. Credit 500–579? FHA is your only government-backed option.
- Both loans can stack with Nevada's Home Is Possible down-payment assistance program.
For most Las Vegas veterans, a VA loan is the stronger choice in 2026: $0 down, no monthly mortgage insurance, and no county loan cap with full entitlement. FHA is the right answer when the borrower has no military eligibility, has a credit score between 500 and 579, or wants an assumable loan. Here is how the two programs compare on every dimension that matters in Clark County.
- Eligible veteran or active duty → VA loan usually wins — $0 down, no PMI, no county cap.
- No military eligibility → FHA is the government-backed alternative.
- Credit 500–579 → FHA with 10% down is the only government-backed option.
- Want zero monthly mortgage insurance → VA (FHA MIP is permanent under 10% down).
- Need an assumable loan for resale → FHA (and VA, with caveats).
VA vs FHA loans: side-by-side comparison
The table below covers every major dimension. All figures are sourced from VA.gov and HUD for 2026. Not a quote, offer, or commitment to lend.
| Feature | VA Loan | FHA Loan |
|---|---|---|
| Who qualifies | Veterans, active duty, eligible surviving spouses | Any buyer who meets credit/income requirements |
| Minimum down payment | $0 (with full entitlement) | 3.5% (FICO 580+); 10% (FICO 500–579) |
| Monthly mortgage insurance | None | Annual MIP ≈ 0.55%/yr — lasts life of loan if <10% down |
| Upfront insurance cost | Funding fee (2.15% first use, $0 if exempt) | Upfront MIP 1.75% of loan amount |
| 2026 Clark County loan limit | No cap with full entitlement | $541,287 (HUD) |
| Minimum credit score (program) | No VA minimum; lenders typically 620 | 580 for 3.5% down; 500 for 10% down |
| Assumable | Yes (entitlement considerations apply) | Yes |
| Primary residence required | Yes | Yes |
| Appraisal required | Yes — VA appraisal with MPRs | Yes — FHA appraisal with MPRs |
| Certificate of Eligibility needed | Yes | No |
| Nevada DPA compatibility | Yes (Home Is Possible) | Yes (Home Is Possible) |
How VA loans work in Nevada
A VA loan is a mortgage backed by the U.S. Department of Veterans Affairs. It is available to veterans, active-duty service members, and eligible surviving spouses who obtain a Certificate of Eligibility. The core benefits for Las Vegas buyers are:
- $0 down payment with full entitlement — the most common scenario for Clark County VA buyers in 2026.
- No monthly mortgage insurance premium — ever. VA replaces recurring PMI with a one-time funding fee.
- No county loan cap with full entitlement — a veteran can buy a $700,000 home in Summerlin with $0 down, whereas FHA caps at $541,287.
- VA funding fee: 2.15% of the loan amount for a first-use purchase with $0 down; 1.5% at 5% down; 1.25% at 10% or more down. Subsequent use under 5% down is 3.3%. Veterans with a qualifying service-connected disability rating pay $0.
- The funding fee can be financed into the loan — no cash required at closing for the fee.
VA loans require a VA appraisal confirming the property meets Minimum Property Requirements (MPRs) and a valid Certificate of Eligibility confirming service. See the full VA home loans Las Vegas guide and 2026 VA funding fee schedule for more detail.
How FHA loans work in Nevada
An FHA loan is insured by the Federal Housing Administration (part of HUD). It is not limited to veterans — any buyer who meets the credit and income requirements may apply. The key facts for Las Vegas borrowers in 2026:
- 3.5% down with a FICO score of 580 or higher. Scores between 500 and 579 require 10% down. Below 500 is ineligible under FHA guidelines (lender overlays may be higher).
- 2026 Clark County FHA loan limit: $541,287 (source: HUD). Homes priced above this limit require a down payment or a different loan type.
- Upfront MIP: 1.75% of the loan amount, financeable into the loan.
- Annual MIP: approximately 0.55% per year, paid monthly. When you put less than 10% down, this MIP lasts the life of the loan. At 10% or more down it cancels after 11 years.
- FHA loans are assumable, meaning a future buyer can take over your loan at its original rate — a potential selling advantage.
- FHA allows more flexible debt-to-income ratios, which can help buyers with student loans or higher monthly obligations.
For buyers without military eligibility, FHA is typically the most accessible government-backed path to homeownership in Las Vegas. Non-military buyers can explore FHA loans in Las Vegas through our FHA site for detailed program information.
Not sure which loan fits your situation?
Start a no-pressure review with a local mortgage company — we'll compare your VA and FHA options side by side and show you the real monthly cost difference. Figures are illustrative — not a quote, offer, or commitment to lend. NMLS #65506.
Compare my loan optionsMortgage insurance: the biggest cost difference
The largest long-term cost gap between VA and FHA is mortgage insurance. Understanding it is the most important thing a Las Vegas buyer can do before choosing between the two programs.
| Cost item | VA Loan | FHA Loan |
|---|---|---|
| Upfront cost | Funding fee: 2.15% first use (or $0 if exempt) | Upfront MIP: 1.75% of loan amount |
| Monthly insurance | $0 — none ever | ≈ 0.55%/yr annual MIP, paid monthly |
| When does monthly cost end? | N/A — never started | <10% down: life of loan; 10%+ down: after 11 years |
| Can upfront cost be financed? | Yes | Yes |
| Exempt or waivable? | Yes — service-connected disability + others | No exemption |
On a 30-year loan, a VA buyer pays the funding fee once and carries zero recurring mortgage insurance. An FHA buyer with less than 10% down pays the annual MIP every month for the entire loan term. That monthly cost accumulates significantly over time and is the primary reason VA wins on total cost for eligible veterans who plan to stay in the home more than a few years.
Las Vegas dollar example
Illustrative example only — not a quote, offer, or commitment to lend. Actual payments depend on rate, loan term, taxes, insurance, and individual qualification.
Assume a first-time buyer purchases a home at $460,000 — within the 2026 Clark County median range of approximately $450,000–$470,000.
| Item | VA Loan (first use, $0 down) | FHA Loan (3.5% down) |
|---|---|---|
| Purchase price | $460,000 | $460,000 |
| Down payment | $0 | $16,100 (3.5%) |
| Base loan amount | $460,000 | $443,900 |
| Upfront insurance/fee | $9,890 funding fee (2.15%, financeable) | $7,768 upfront MIP (1.75%, financeable) |
| Total loan after financing fee/MIP | ≈ $469,890 | ≈ $451,668 |
| Monthly mortgage insurance | $0 | ≈ $203/mo (0.55% annual MIP) |
| Monthly MI over 7 years | $0 | ≈ $17,052 |
Even though the VA buyer finances a larger upfront fee, the absence of monthly MIP saves roughly $17,000 over seven years in this illustrative scenario — and more for buyers who hold the loan longer. A veteran with a disability exemption pays $0 upfront and $0/month in insurance costs, widening the advantage further. Use the VA loan calculator to model your specific numbers.
Which loan is right for you? Decision matrix
Use this guide to identify the clearest fit based on your situation. These are general indicators — your actual loan options depend on full qualification review.
| Your situation | Likely best fit | Why |
|---|---|---|
| Eligible veteran or active duty, full entitlement | VA | $0 down, no PMI, no county cap — maximum buying power |
| Eligible veteran with service-connected disability | VA | Funding fee is $0 — VA wins on both upfront and monthly cost |
| No military eligibility | FHA | VA is not available; FHA is the accessible government-backed path |
| FICO 500–579 | FHA (10% down) | VA has no score minimum but lenders typically require 620; FHA allows 500+ |
| Buying above $541,287 in Clark County | VA | FHA limit is $541,287; VA has no cap with full entitlement |
| Want an assumable loan for resale | FHA (or VA with caveats) | FHA assumption transfers cleanly; VA assumption does not restore veteran's entitlement |
| Want zero monthly mortgage insurance | VA | FHA MIP is permanent under 10% down; VA has none |
| Higher debt-to-income ratio | FHA | FHA allows more flexibility on DTI in some scenarios |
Nevada-specific advantages for both programs
A few local factors make both VA and FHA loans particularly attractive in Clark County:
- Nevada has no state income tax. The money you save on state taxes each year can help offset a down payment, closing costs, or monthly housing costs — an advantage that does not exist in California or most other western states.
- Clark County median home price is approximately $450,000–$470,000 in 2026. A VA buyer with full entitlement can purchase at the median with $0 down. An FHA buyer stays well within the $541,287 limit at the median price.
- Home Is Possible (Nevada Housing Division) provides down-payment and closing-cost assistance that can be layered onto both VA and FHA loans, further reducing out-of-pocket costs. Eligibility is subject to income limits and purchase price caps — confirm current terms with the Nevada Housing Division directly.
- Disabled veterans in Nevada may also qualify for a state property-tax exemption under NRS 361.0905, administered by the Clark County Assessor — a separate benefit on top of the VA funding-fee waiver.
The bottom line
For an eligible Nevada veteran or active-duty service member, a VA loan is almost always the better financial choice in 2026: $0 down, no monthly mortgage insurance, and no county loan cap. For buyers without military eligibility — or with credit scores between 500 and 579 — FHA is the strongest government-backed option with a 3.5% down entry point and a $541,287 Clark County limit. Both programs can work with Nevada down-payment assistance, and both require a primary residence. The choice is rarely close once you factor in the lifetime absence of MIP on a VA loan. Figures shown are illustrative only — not a quote, offer, or commitment to lend. Not affiliated with or endorsed by the VA, FHA, or HUD, or any government agency. Valley West Mortgage NMLS #65506. Equal Housing Lender.
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Talk to a local mortgage company — we'll pull your VA eligibility, compare your options side by side, and show you the real monthly cost difference for your Clark County purchase. No pressure, no obligation.
Start my loan comparisonVA vs FHA FAQ
Which is better for Nevada home buyers — VA or FHA?
For veterans and active-duty service members with full entitlement, a VA loan is usually the stronger choice: $0 down, no monthly mortgage insurance, and no county loan cap. FHA is the better fit for buyers who lack military eligibility, have credit scores between 500 and 579, or need an assumable loan. Both programs can stack with Nevada down-payment assistance through the Home Is Possible program.
What is the FHA loan limit in Clark County Nevada in 2026?
The 2026 FHA loan limit for Clark County, Nevada is $541,287, set by HUD. This is the maximum purchase price FHA will insure with 3.5% down in the Las Vegas metro. VA loans with full entitlement have no county loan cap.
Does a VA loan require mortgage insurance?
No. VA loans never carry monthly private mortgage insurance (PMI). VA charges a one-time funding fee instead — 2.15% for first-use buyers with $0 down in 2026, or $0 for veterans with a qualifying service-connected disability rating. FHA loans require both a 1.75% upfront MIP and an annual MIP of approximately 0.55% per year, which lasts the life of the loan when you put less than 10% down.
How much down payment does FHA require in Nevada?
FHA requires 3.5% down for borrowers with a FICO score of 580 or higher, and 10% down for scores between 500 and 579. On the Clark County 2026 FHA limit of $541,287, a 3.5% down payment is approximately $18,945. VA loans require $0 down for eligible borrowers with full entitlement.
Can a Nevada veteran use FHA instead of VA?
Yes. Nothing prevents a veteran from choosing FHA, and in some cases it makes sense — for example, when buying a multi-unit property where VA appraisal conditions are a concern, or when seeking an assumable loan at a lower rate for a future sale. However, most veterans save money long-term with VA because there is no monthly mortgage insurance premium.
Is an FHA loan assumable in Nevada?
Yes, FHA loans are assumable, meaning a qualified buyer can take over the seller's existing FHA loan at its original rate. This can be a meaningful selling advantage when rates are elevated. VA loans are also assumable, but a non-veteran who assumes a VA loan does not restore the original veteran's entitlement.
Can VA and FHA loans both use Nevada down-payment assistance?
Yes. Both VA and FHA loans can be combined with Nevada Housing Division programs such as Home Is Possible, which provides down-payment and closing-cost assistance to qualifying buyers. Confirm current program availability, income limits, and purchase-price caps directly with the Nevada Housing Division, as terms change.
- U.S. Department of Veterans Affairs — VA-backed home loans overview (eligibility, entitlement, no-PMI benefit).
- U.S. Department of Veterans Affairs — VA funding fee and closing costs (2026 fee schedule; first-use and subsequent-use rates; exemptions).
- U.S. Department of Housing and Urban Development — FHA mortgage limits (2026 Clark County limit $541,287).
- U.S. Department of Housing and Urban Development — FHA MIP rates and structure (1.75% upfront; 0.55% annual for most 30-yr loans).
- Nevada Housing Division — Home Is Possible down-payment assistance.
- Consumer Financial Protection Bureau — Owning a Home: loan comparison tools.
- Nevada Revised Statutes — NRS 361.0905, disabled-veteran property-tax exemption (Clark County Assessor administers).
Related guides
Pillar guide
VA home loans in Las Vegas
The complete guide to VA loans in Clark County — eligibility, entitlement, process, and closing costs.
Cost detail
VA funding fee 2026
The full 2026 rate schedule, exemptions, and a Las Vegas dollar example — including the $0 option for disabled veterans.
FHA site
FHA loans in Las Vegas
Not eligible for VA? Explore FHA options with 3.5% down and the $541,287 Clark County limit on our FHA site.
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