Quick answer — To buy a home at the Clark County median of roughly $470,000 in Las Vegas using an FHA loan with 3.5% down, a buyer needs approximately $16,450 down and an illustrative gross income of about $90,700 per year to meet a 43% DTI at a 7.00% illustrative rate (June 2026). The 2026 FHA limit for Clark County is $541,287 (HUD); the conforming limit is $832,750 (FHFA). All figures are illustrative — not a quote. Updated June 2026.
Key data points
- 2026 FHA limit Clark County: $541,287 for a 1-unit home (Source: HUD). FHA limits for 2-unit ($693,050), 3-unit ($837,700), and 4-unit ($1,041,125) also apply.
- 2026 FHFA conforming limit: $832,750 (Source: FHFA). Purchases above the FHA limit may use a conventional or jumbo loan instead.
- FHA MIP rates used in this dataset: Upfront MIP 1.75% of base loan (financed); Annual MIP 0.55% of loan balance (30-year term, LTV > 90%, less than 10% down). MIP is for the life of the loan when down payment is under 10%.
- Rate assumption: 7.00% 30-year FHA (illustrative reference; not a quote). The Freddie Mac Primary Mortgage Market Survey is the standard public rate reference.
- DTI threshold used: 43% back-end DTI (gross monthly income basis). FHA allows up to 57% with compensating factors; 43% is the baseline qualifying level.
- Tier table — four home-price tiers from $350K to the $541,287 FHA limit
- FHA vs conventional cash-to-close comparison at the $470K median
- Methodology — sources, rate assumption, MIP schedule, DTI formula
- FAQ — 6 questions on income needed, down payment, MIP, and more
- Embed this dataset — free iframe + cite-this snippet
Key terms in plain English
A few words on this page can sound technical. Here is the simple version before you go deeper.
- MIP
- Mortgage insurance premium. FHA has mortgage insurance costs that can affect both cash to close and monthly payment.
- Upfront MIP
- The FHA mortgage insurance cost usually paid at closing or financed into the loan amount.
- Annual MIP
- The FHA mortgage insurance cost that is usually included in the monthly payment.
- 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.
What does FHA affordability look like by home-price tier in Clark County?
The table below shows illustrative FHA purchase numbers at four price points that represent the range of Clark County's single-family market in 2026 — from attainable starter-home territory through the $541,287 FHA loan limit. All calculations assume a FICO score of 580 or higher (qualifying for 3.5% down), a 30-year FHA loan at a 7.00% illustrative rate, an upfront MIP of 1.75% (financed into the loan), and an annual MIP of 0.55%. Monthly PI+MIP is an estimate — actual figures depend on your credit profile, rate, and lender.
"The Federal Housing Administration (FHA) - which is part of HUD - insures the loan, so your lender can offer you a better deal."U.S. Department of Housing and Urban Development -- hud.gov
| Home price | 3.5% down | Base loan | Upfront MIP (1.75%) | Total loan w/ MIP | Annual MIP (0.55% / yr) | Est. monthly PI+MIP | Gross income needed (43% DTI) |
|---|---|---|---|---|---|---|---|
| $350,000 | $12,250 | $337,750 | $5,911 | $343,661 | $157/mo | $2,443 | $5,681/mo (~$68,170/yr) |
| $400,000 | $14,000 | $386,000 | $6,755 | $392,755 | $179/mo | $2,792 | $6,493/mo (~$77,910/yr) |
| $470,000 (median) | $16,450 | $453,550 | $7,937 | $461,487 | $211/mo | $3,280 | $7,628/mo (~$91,530/yr) |
| $541,287 (FHA limit) | $18,945 | $522,342 | $9,141 | $531,483 | $243/mo | $3,778 | $8,786/mo (~$105,430/yr) |
All figures are illustrative only — not a rate quote or loan offer. Rate assumption: 7.00% 30-year FHA (illustrative). MIP: upfront 1.75% (financed); annual 0.55% on declining balance, paid monthly. Monthly PI+MIP calculated on the total loan including financed upfront MIP. Income required at 43% back-end DTI assumes no other recurring monthly obligations — add your actual debts to this estimate. Closing costs (typically 2%–5% of purchase price) are additional and not reflected in the down payment column. Property taxes (~0.65% annually in Clark County) and homeowner insurance are excluded from these figures. Source for FHA limit: HUD Mortgage Limits, 2026. Source for conforming limit: FHFA, 2026.
Median price approximate per Las Vegas MLS data, Q2–Q3 2026.
How does FHA compare to conventional cash-to-close on a $470,000 Las Vegas home?
A common question for Clark County buyers is whether FHA or conventional delivers a lower cost to enter the home. The answer depends heavily on your credit score, how long you plan to stay, and whether you can reach 20% equity to cancel PMI. The table below shows a side-by-side cash-to-close snapshot at the Clark County median of $470,000 using two conventional scenarios as comparison.
| Scenario | Down payment | Down payment $ | Upfront MIP/fee | Est. closing costs (2%) | Est. total cash to close | PMI / MIP duration |
|---|---|---|---|---|---|---|
| FHA (3.5% down, 580+ FICO) | 3.5% | $16,450 | $7,937 (financed) | $9,400 | ~$25,850 | Life of loan (if <10% down) |
| Conventional (5% down, 700 FICO) | 5% | $23,500 | None | $9,400 | ~$32,900 | PMI cancels at 20% equity (~$94K paid down) |
| Conventional (10% down, 740 FICO) | 10% | $47,000 | None | $9,400 | ~$56,400 | PMI cancels sooner; lower PMI rate with 740+ FICO |
Figures are illustrative only — not a quote. Upfront MIP on FHA is typically financed into the loan and not paid at closing, reducing out-of-pocket cash. Closing costs estimated at 2% of purchase price — actual costs vary by lender, title company, and transaction. PMI rates on conventional loans vary based on credit score, LTV, and lender; conventional PMI at 5% down with 700 FICO is typically in the range of 0.5%–1.0% of the loan amount annually, substantially less than FHA's lifetime MIP for buyers who will build equity quickly. Conventional loans allow cancellation of PMI by request at 20% equity (Homeowners Protection Act).
FHA MIP does not cancel if down payment is under 10%.
How does FHA mortgage insurance (MIP) work in Nevada?
FHA mortgage insurance is the primary trade-off buyers accept in exchange for the program's low down-payment and flexible credit requirements. In Nevada, as everywhere FHA loans are made, MIP consists of two components.
Upfront MIP (UFMIP): 1.75% of the base loan amount, charged at closing but almost always financed into the loan. On a $453,550 base loan (3.5% down on $470,000), the UFMIP is $7,937. This increases the total loan to $461,487.
Annual MIP: For a 30-year FHA loan with less than 10% down, the annual MIP rate is 0.55% of the remaining loan balance, divided into monthly installments. This is paid every month alongside principal and interest. On a $461,487 loan in year 1, monthly MIP is approximately $211.
MIP for the life of the loan: When the down payment is less than 10%, annual MIP does not cancel — it remains for the full 30-year loan term. This is the structural cost difference between FHA and conventional. Buyers who reach 20% equity and refinance into a conventional loan can eliminate MIP at that point, but refinancing involves new closing costs and qualifies at the rate available at that time.
The 10% down exception: Borrowers who put down 10% or more (typically those with FICO 500–579 who are required to do so, or higher-FICO buyers who choose to) will have annual MIP removed after 11 years rather than the full loan term.
Source: HUD Single Family Housing Policy Handbook 4000.1; FHA Mortgagee Letter 2023-14 (MIP rate schedule).
FHA vs conventional MIP/PMI decision
If your credit score is 740 or higher and you can put 5% down on a conventional loan, compare the total monthly PMI cost vs FHA annual MIP. With strong credit, conventional PMI is often lower — and it cancels at 20% equity. Ask a licensed loan officer to run both scenarios on your specific file before choosing. Valley West Mortgage is a local mortgage lender, NMLS #65506; we compare multiple loan programs. See if you may qualify.
How much income do you need to buy in Las Vegas with FHA?
FHA's primary qualifying ratio is the debt-to-income ratio (DTI). Lenders calculate your back-end DTI by dividing your total monthly debt obligations (including the proposed housing payment) by your gross monthly income. The FHA guideline is a maximum 43% DTI without compensating factors; lenders can approve up to 57% with strong compensating factors (reserves, residual income, strong employment history).
Using the illustrative figures from the tier table above and assuming no other recurring monthly debts, the income requirement at the Clark County median ($470,000, 3.5% FHA down) is approximately:
- Estimated monthly PI+MIP: $3,280
- At 43% DTI: monthly income needed = $3,280 / 0.43 = ~$7,628/month
- Annual equivalent: ~$91,530 gross
In practice, most buyers carry additional monthly debts — car payments, student loans, credit card minimums. Each $400/month in other debt obligations reduces your qualifying purchasing power by roughly $40,000 at a 7.00% rate and 43% DTI (illustrative). Have your complete monthly obligation picture ready when you speak with a loan officer.
Clark County median household income (U.S. Census Bureau, American Community Survey 2023 5-year estimates) is approximately $62,000–$64,000 per year. The illustrative income threshold for the $470,000 median home (~$91,530) is meaningfully above median household income, which helps explain why down-payment assistance programs (Home Is Possible, Worker Advantage) and multi-income households are central to the Las Vegas market. See Nevada DPA programs for stacking options that reduce the required cash and loan amount.
What are the 2026 FHA and conforming loan limits for Clark County?
Loan limits set the ceiling on what the FHA program or Fannie Mae/Freddie Mac conventional programs will finance in a given county. A ceiling is not a budget, and the affordability playbook we keep for Clark County buyers runs the other direction, from a payment you can carry back to a price. Clark County's limits for 2026:
| Property units | FHA limit (Clark County, 2026) | FHFA conforming limit (2026) | Source |
|---|---|---|---|
| 1-unit (single-family) | $541,287 | $832,750 | HUD; FHFA |
| 2-unit (duplex) | $693,050 | $1,066,250 | HUD; FHFA |
| 3-unit (triplex) | $837,700 | $1,288,800 | HUD; FHFA |
| 4-unit (fourplex) | $1,041,125 | $1,601,750 | HUD; FHFA |
FHA limits: HUD Mortgage Limits Look-Up Tool (entp.hud.gov), effective 2026. FHFA conforming limits: Federal Housing Finance Agency (fhfa.gov), 2026 baseline. Homes priced above the FHA 1-unit limit of $541,287 require a conventional or jumbo loan. Multi-unit FHA purchases require owner-occupancy of one unit.
The gap between the FHA limit ($541,287) and the conforming limit ($832,750) is significant — $291,463 of Clark County purchase prices fall in the range where only conventional (not FHA) is available within the conforming limit, and above $832,750, a jumbo loan is required. See FHA Loan Limits Clark County 2026 for the full breakdown.
Frequently asked questions
How much income do I need to buy a $470,000 home in Las Vegas with FHA?
Using a 7.00% illustrative rate and 3.5% FHA down payment on a $470,000 purchase price, the estimated monthly PI+MIP is approximately $3,280. At a 43% DTI, a buyer would need a gross monthly income of roughly $7,628 — about $91,530 per year. These are illustrative figures only and not a quote. Your actual rate, MIP, and qualifying income may differ based on credit score, lender overlays, and underwriting. Add any existing monthly debt obligations to the $3,280 before calculating your DTI.
What is the FHA down payment on a $470,000 home in Las Vegas?
With a FICO score of 580 or higher, FHA requires a minimum 3.5% down payment. On a $470,000 purchase price, that is $16,450. Buyers with scores between 500 and 579 must put down 10% — $47,000 on the same price. The Clark County 2026 FHA loan limit is $541,287 per HUD, so a $470,000 purchase is within the FHA limit. Nevada DPA programs (Home Is Possible, Worker Advantage up to $20,000) may cover a portion or all of the down payment for eligible buyers.
What is the 2026 FHA loan limit for Clark County, Nevada?
The 2026 FHA loan limit for a single-family home in Clark County (Las Vegas, Henderson, North Las Vegas) is $541,287, as set by HUD. This is the maximum base loan amount an FHA-insured mortgage may finance in Clark County for a one-unit property. The 2026 FHFA conforming loan limit is $832,750; purchases above the FHA limit may use a conventional or jumbo loan. Sources: HUD Mortgage Limits Look-Up Tool; FHFA 2026 conforming loan limits.
How does FHA mortgage insurance compare to conventional PMI in cost?
FHA charges two MIP premiums: an upfront fee of 1.75% of the base loan (typically financed into the loan) and an annual fee of 0.55% of the remaining loan balance (for 30-year loans with less than 10% down), paid monthly. FHA MIP remains for the life of the loan when the down payment is less than 10%. Conventional PMI rates vary by credit score and LTV but can often be cancelled once equity reaches 20% (Homeowners Protection Act). Buyers with strong credit (740+) and 5%–10% down may find conventional PMI cheaper over the life of the loan.
Is FHA or conventional cheaper to close on a Las Vegas median home?
On a $470,000 purchase (Clark County median), illustrative FHA cash to close is approximately $25,850 (3.5% down + 2% estimated closing costs; upfront MIP is typically financed, not paid at closing). Conventional at 5% down is approximately $32,900 ($23,500 down + 2% closing costs, no upfront MIP fee). FHA typically requires less cash at the table due to the lower down payment, though its lifetime MIP produces higher total cost over a full loan term for buyers with strong credit who could qualify for conventional.
Does FHA mortgage insurance last forever in Las Vegas?
If your down payment is less than 10%, FHA mortgage insurance (MIP) lasts for the life of the loan — it does not automatically cancel when you reach 20% equity, unlike conventional PMI. Buyers who put down 10% or more at closing will see MIP removed after 11 years. To eliminate MIP before that, borrowers typically refinance into a conventional loan once they have sufficient equity and qualifying credit. This is a meaningful long-term cost consideration for FHA borrowers planning to stay in the home.
Methodology, sources, and assumptions
Data methodology
Rate assumption: 7.00% 30-year fixed FHA (illustrative). No specific rate is claimed or implied. The Freddie Mac Primary Mortgage Market Survey (PMMS) is the standard public weekly reference for 30-year mortgage rates. Actual FHA rates offered by any lender will vary by credit score, loan size, discount points, and market conditions at the time of application.
MIP schedule: Upfront MIP of 1.75% per FHA Mortgagee Letter 2023-14, effective for case numbers assigned on or after March 20, 2023. Annual MIP of 0.55% for 30-year loans with base loan amounts above $150,000 and LTV above 90% (standard for 3.5% down). Annual MIP is divided into 12 monthly payments and added to the PI payment.
DTI calculation: Back-end (total) DTI. Formula: total monthly PI+MIP / 0.43 = minimum gross monthly income. No additional recurring debts are assumed; actual qualification requires including all recurring monthly obligations.
Clark County median: Approximately $470,000 based on Las Vegas REALTORS (LVR) median closed-sale price data, Q2 2026. This figure is approximate and subject to change as market conditions evolve.
Closing cost estimate: 2% of purchase price used as a conservative floor. Actual closing costs in Nevada typically range 2%–5% of purchase price and include origination fees, title insurance, prepaid interest, property tax escrow, and other lender/settlement costs.
Clark County property tax estimate: Approximately 0.65% of assessed value annually (Clark County Assessor's Office baseline; actual effective rates vary by property and assessment). Not included in the monthly PI+MIP estimate in this dataset.
- FHA loan limits: HUD Mortgage Limits Look-Up Tool, 2026
- FHA MIP schedule: HUD Handbook 4000.1; Mortgagee Letter 2023-14
- Conforming loan limits: FHFA Conforming Loan Limit Values, 2026
- Rate reference: Freddie Mac Primary Mortgage Market Survey (PMMS)
- Clark County median: Las Vegas REALTORS (LVR) MLS data, Q2 2026 (approximate)
- Clark County income data: U.S. Census Bureau, American Community Survey 5-year estimates, 2023
- Homeowners Protection Act (PMI cancellation): 12 USC 4901 et seq.
Data date: June 29, 2026. FHA limits are set annually; this dataset will be updated upon HUD limit revisions. Rate assumption is for illustrative purposes only and does not reflect any future or current rate offered by Valley West Mortgage or any lender.
Verification: Reviewed by Vatche Saatdjian, President, Valley West Mortgage (NMLS #69363), Nevada Mortgage Lender License #2118.
See your actual numbers
Ready to go beyond the dataset?
The figures above are illustrative — your actual down payment, MIP, and qualifying income depend on your credit score, rate, and the specific property. A local mortgage lender can price both FHA and conventional on your exact file. Valley West Mortgage is a local Las Vegas mortgage lender, NMLS #65506 — not affiliated with HUD or any government agency.
See if you may qualify All loans subject to borrower and property qualification, underwriting, and credit approval. Not a commitment to lend.Embed this dataset
Related FHA resources for Las Vegas buyers
This dataset is one part of Valley West Mortgage's local FHA resource library for Clark County. Related pages:
- FHA Loans in Las Vegas — the core FHA guide for Nevada buyers, covering eligibility, process, and loan types
- FHA Loan Limits Clark County Nevada 2026 — full breakdown of 1–4 unit limits and what they mean for your purchase price
- FHA Down Payment 2026 — gift funds, DPA stacking, and the 3.5% vs 10% breakdown
- First-Time Home Buyer Las Vegas — complete guide to the buying process in Clark County
- Down Payment Assistance Las Vegas 2026 — Nevada DPA programs including Home Is Possible and Worker Advantage ($20,000, 0%)
- Conventional DPA programs — down payment assistance options on the conventional side (Valley West)
- Apply now — start your FHA or conventional application with a local mortgage lender
Sources
- HUD Mortgage Limits Look-Up Tool — entp.hud.gov/idapp/html/hicostlook.cfm (FHA 1-unit limit Clark County 2026: $541,287)
- HUD Single Family Housing Policy Handbook 4000.1 — hud.gov/hud-partners/single-family-handbook-4000-1
- FHA Mortgagee Letter 2023-14 — MIP rates effective March 20, 2023 (upfront 1.75%; annual 0.55% for standard 30-year loans)
- Federal Housing Finance Agency — 2026 Conforming Loan Limit Values — fhfa.gov/data/conforming-loan-limit ($832,750 baseline, 2026)
- Freddie Mac Primary Mortgage Market Survey (PMMS) — freddiemac.com/pmms (rate reference)
- Las Vegas REALTORS (LVR) — Monthly Statistics, Q2 2026 (Clark County median home price)
- U.S. Census Bureau, American Community Survey 5-Year Estimates 2023 — Clark County, NV median household income
- Clark County Assessor's Office — effective property tax rate reference (approximately 0.65% annually)
- Homeowners Protection Act (HPA), 12 USC 4901 et seq. — PMI cancellation at 20% equity
- NMLS Consumer Access — Valley West Mortgage NMLS #65506 — nmlsconsumeraccess.org