Las Vegas Homebuying · Financing
How Much Down Payment Do You Need to Buy a Home in Las Vegas?
The minimum down payment for a Las Vegas home can be 0% for eligible VA or USDA borrowers, 3% for certain conventional loans, or 3.5% for eligible FHA borrowers. You do not need 20% down for many common mortgage programs. Your savings plan should also account for closing costs and money left after closing. [1][2][3]
For example, on a $470,000 home, a 3% down payment is $14,100 and a 3.5% down payment is $16,450. Those figures cover only the down payment. Closing costs, prepaid expenses and your savings cushion affect the full amount you should plan to have available.
Whether you are buying in Las Vegas, Henderson or Summerlin, start with the loan options you qualify for and the monthly payment you can comfortably manage. Our preferred mortgage vendor, note. A Mortgage Agency, is an option for discussing your financing questions before you begin touring homes.
Browse current Las Vegas Valley listings to explore homes in your price range, or visit our relocation guide if you are moving to Southern Nevada.
The three parts of your homebuying savings plan
Down payment
Your contribution toward the purchase price. The minimum depends on your loan program and qualifications.
Closing costs
Loan and transaction expenses, plus prepaid items. These are separate from your down payment.
Savings after closing
Money you keep for emergencies, moving, repairs and any reserves required by your lender.
Savings plan = down payment + closing costs + money kept after closing
Your final cash due at closing also reflects deposits already paid, applicable credits and transaction adjustments.
What are the minimum down payment requirements in Las Vegas?
Minimum down payments depend on the mortgage program and your eligibility. A low advertised minimum does not mean every borrower or property qualifies.
On smaller screens, swipe across the loan comparison table.
Loan type | Minimum down payment | Example amount | What to know |
|---|---|---|---|
Conventional | As little as 3% for eligible programs | $14,100 at 3% | Eligibility varies by program. Conventional loans with less than 20% down generally require private mortgage insurance. [1] |
FHA | As little as 3.5% for eligible borrowers | $16,450 at 3.5% | Mortgage insurance applies. Credit history, property eligibility and lender requirements affect approval. [4] |
VA | No down payment required for qualifying borrowers and transactions | $0 | A funding fee may apply unless you are exempt. For first use with less than 5% down, the purchase-loan funding fee is 2.15%; for subsequent use, it is 3.3%. Larger down payments can reduce the fee. [2] |
USDA guaranteed | No down payment required for eligible borrowers and properties | $0 | Property location and household income must meet USDA requirements. Check the specific address using USDA’s eligibility tool. [3] |
Jumbo | Determined by the lender | Varies | A jumbo mortgage exceeds the applicable conforming loan limit for the property’s location and unit count. The threshold applies to the loan amount, not the home’s purchase price. [5] |
USDA eligibility is address-specific. Do not assume a home qualifies because its mailing address is in or near Las Vegas. These examples illustrate down payments only and do not include closing costs, mortgage insurance or program fees.
How much is 3%, 5%, 10% or 20% down on a Las Vegas home?
On a $470,000 home, down payments range from $14,100 at 3% to $94,000 at 20%. Use the same purchase price when comparing options so you can see how each choice affects your loan amount and savings.
Down payment | Cash toward price | Price minus down payment |
|---|---|---|
3% | $14,100 | $455,900 |
3.5% | $16,450 | $453,550 |
5% | $23,500 | $446,500 |
10% | $47,000 | $423,000 |
20% | $94,000 | $376,000 |
The $470,000 purchase price is an illustration, not a statement of current market value. The final loan amount may differ if eligible fees are financed. Not every down payment option is available with every loan program.
What is the difference between a down payment and closing costs?
Your down payment is the portion of the purchase price you contribute instead of borrowing. Closing costs are the fees and expenses associated with obtaining the mortgage and completing the transaction.
Closing costs can include lender fees, appraisal charges, title insurance, escrow fees and recording charges. Your estimate may also include prepaid interest, homeowners insurance and funds collected for property-tax and insurance escrow accounts.
The Consumer Financial Protection Bureau suggests planning for closing costs of approximately 2% to 5% of the purchase price. On a $470,000 home, that is roughly $9,400 to $23,500 in addition to your down payment. [1]
A seller credit may help cover eligible costs if negotiated in your purchase agreement. Lender credits may also be available, often in exchange for a higher interest rate. Ask your lender how each option affects both your closing costs and the long-term cost of the loan.
A detail to know about VA seller credits
VA limits certain seller concessions to 4% of the home’s reasonable value. That limit does not apply in the same way to ordinary seller-paid loan closing costs. Have your lender identify which credits count toward the concession limit. [2]
How much total cash do you need to buy a home in Las Vegas?
For a $470,000 home with a 3.5% FHA down payment, the down payment plus estimated closing costs totals approximately $25,850 to $39,950, before credits, deposits and adjustments. You should also plan for savings remaining after closing.
Expense | Lower estimate | Higher estimate |
|---|---|---|
Down payment at 3.5% | $16,450 | $16,450 |
Estimated closing costs at 2% to 5% | $9,400 | $23,500 |
Down payment plus estimated closing costs | $25,850 | $39,950 |
Savings kept after closing | Additional amount based on lender requirements and your household budget | |
This is a planning example, not a loan quote or a final cash-to-close calculation. Ask your lender to specify how upfront mortgage insurance and any other program fees are treated, including whether eligible fees will be financed.
Earnest money already deposited is generally credited toward the funds needed to complete your purchase. Seller credits, lender credits, prepaid expenses and other adjustments can also change the amount you bring to closing.
What are mortgage reserves, and do you need them?
Mortgage reserves are qualifying assets remaining after you pay the funds needed to close. Lenders may measure reserves in months of your housing payment. Requirements depend on the loan program, property and underwriting findings. [6]
Your personal emergency fund is a separate planning decision. The CFPB suggests keeping an emergency cushion, usually three to six months of expenses, and accounting for moving, furnishing and repair costs before deciding how much to put down. [1]
For a Las Vegas Valley purchase, ask about HOA transfer fees, capital contributions, dues and any special assessments. Consider cooling costs, maintenance and repairs when building your monthly budget.
Is down payment assistance available in Nevada?
Yes. The Nevada Housing Division’s Home Is Possible program for first-time homebuyers offers assistance of up to 4% of the total loan amount for eligible down payment and closing costs. Its published requirements include first-time buyer status, a minimum credit score of 640, homebuyer education and applicable income and purchase-price limits. The listed minimum score for manufactured homes is 660. [7]
The program defines a first-time buyer as someone who has not owned a home in the past three years. Its published assistance terms describe a 30-year, non-forgivable second loan. Ask a participating lender to explain repayment terms and how the assistance affects your overall financing. [7]
Program terms and availability can change. Confirm your eligibility and current options directly with a participating lender.
Should you put 20% down on a home?
Twenty percent down can help you avoid private mortgage insurance on a conventional loan and reduce the amount borrowed. It is not required for many common mortgage programs. [1]
A larger down payment also uses more of your savings. Compare the monthly payment, mortgage insurance, interest rate, closing costs and cash remaining after closing at several down payment levels.
Start with the cash you want to keep
Before choosing a down payment, decide how much money you want available after moving in. Then ask a lender to compare options on the same home price. This helps you balance your monthly payment with the flexibility to handle repairs and unexpected expenses.
Explore your financing questions with note. A Mortgage Agency
A down payment percentage is a starting point. Before you choose a savings target, connect with a loan officer at note. to discuss pre-approval, your price range and the information needed to evaluate your financing options.
Bring your estimated purchase price, available savings and monthly payment target to the conversation. Ask which loan programs you may qualify for, how mortgage insurance and program fees affect the cost, and how much cash you would need at different down payment levels.
If you are considering down payment assistance, ask which programs are currently available through note. and whether you meet their requirements. Program availability and approval depend on the lender, the property and your qualifications.
You can contact note. A Mortgage Agency to start the conversation.
How huntington & ellis helps you plan your purchase
Our agents help you connect your home search with your budget. We can introduce you to our preferred mortgage vendor, note. A Mortgage Agency, to discuss financing, while your huntington & ellis agent helps you review property-specific HOA expenses and consider whether requesting seller-paid closing costs makes sense for a particular offer.
Your lender determines loan eligibility and financing terms. Your agent helps you evaluate homes and negotiate the purchase with those numbers in mind. You are free to work with the lender of your choice.
Frequently asked questions about Las Vegas down payments
Do I need 20% down to buy a home in Las Vegas?
No. Certain conventional programs allow as little as 3% down, FHA financing can allow 3.5% down, and qualifying VA or USDA transactions may require no down payment. Eligibility and lender requirements apply. [1][2][3]
Can I buy a Las Vegas home with no down payment?
Possibly. Eligible VA borrowers may qualify for zero-down financing. USDA also offers zero-down financing, but the borrower and property must meet program requirements. No down payment does not mean there are no closing costs. [2][3]
How much is a 3.5% down payment on a $470,000 home?
A 3.5% down payment on a $470,000 home is $16,450. Closing costs and any savings you want to keep after closing are additional.
Are closing costs included in the down payment?
No. The down payment contributes toward the purchase price. Closing costs cover separate loan and transaction expenses. Your lender’s Loan Estimate helps you compare these amounts. [1]
Is earnest money an extra cost on top of my down payment?
Earnest money is generally credited toward the funds needed to close. It is paid earlier in the transaction, so plan to have it available when required by your purchase agreement.
Does Nevada offer help with down payments?
Yes. Nevada’s Home Is Possible program for first-time homebuyers offers assistance to eligible borrowers. Confirm current eligibility, repayment terms and available assistance with a participating lender. [7]
Who can I talk to about my down payment and financing options?
You can contact note. A Mortgage Agency to discuss your financing questions and next steps. Ask about eligibility, estimated closing costs and how different down payments would affect your budget. You may choose any lender.
Plan your home search and financing together
Buying in Las Vegas, Henderson or Summerlin? Work with huntington & ellis to find a home that fits your goals, and connect with note. A Mortgage Agency to discuss your financing options.
Connect with huntington & ellis
Discuss financing with note.
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Sources
- Consumer Financial Protection Bureau: Determine your down payment . Down payment planning, closing costs, mortgage insurance and emergency savings.
- U.S. Department of Veterans Affairs: VA funding fee and loan closing costs . Funding fees, exemptions, seller concessions and closing-cost credits.
- USDA Rural Development: Single Family Housing Guaranteed Loan Program . Financing and borrower eligibility. Check USDA property eligibility.
- U.S. Department of Housing and Urban Development: Buying a home . FHA financing and down payment information.
- Federal Housing Finance Agency: Conforming loan limits . Loan-limit definitions and official geographic data. HUD’s mortgage-limit lookup provides FHA limits by area.
- Fannie Mae Selling Guide: Minimum reserve requirements . Reserve definitions and underwriting requirements.
- Nevada Housing Division: Home Is Possible program . Published assistance benefits, eligibility and loan terms.
Dollar amounts are illustrative calculations, not loan quotes. Loan eligibility, program availability, fees and requirements may change.
