- Yes, an FHA loan can buy a brand-new Las Vegas home. HUD covers homes not yet started, homes being built, and finished homes that are less than a year old and never lived in.
- The builder signs two HUD forms. Form HUD-92541 certifies the plans and the lot. Form HUD-92544 is a one-year warranty to you.
- Builder incentives have a cap. A builder can put up to 6% of the sales price toward your closing costs, prepaid items and rate buydowns, which is money paid up front to lower your early payments. On a $450,000 home that is $27,000, an illustrative figure and not a quote, offer, or commitment to lend.
- Some perks shrink the loan instead. Money over the 6% cap, and extras like a decorating allowance, come off the price before FHA sizes your loan.
- A buydown, which is money paid up front to lower your early payments, does not help you qualify. HUD makes the lender qualify you at the full note rate, which is the rate written in your loan papers.
- Nevada homes need a termite guarantee. Nevada is not on HUD's exception list, so the builder signs a termite protection form for every new FHA home here.
An FHA loan for new construction in Las Vegas works much like one for a resale home, with one big difference: the builder has paperwork to sign.
FHA is the Federal Housing Administration, the part of HUD that insures these loans. HUD's rulebook, Handbook 4000.1, has a whole section on new homes.
That section names three stages a new home can be in. It lists the inspections the lender needs for each stage. And it lists the forms the builder must sign before the loan can close.
The money side matters just as much. Builders in Las Vegas often offer closing cost credits and rate buydowns. HUD caps those at 6% of the sales price, and it treats some perks as a price cut rather than a gift.
This guide walks through each rule in plain words, with a worked example on a $450,000 home. That price sits under the 2026 Clark County FHA limit of $541,287 for a one-unit home.
In short. FHA will finance a new Las Vegas home at any stage, as long as the builder signs HUD's forms and the right inspections happen. Keep the builder's closing cost and buydown money under 6% of the price, and ask how any other perk will be counted.
If the home is finished, under a year old, and nobody has lived in it, it still counts as new construction. If someone has lived in it, FHA treats it as an existing home.
Can you use an FHA loan for new construction in Las Vegas?
An FHA loan can buy a new construction home in Las Vegas, Henderson or North Las Vegas, from a big builder or a small one.
HUD's rules sort new homes into stages. A home can be FHA financed before the concrete is poured, while it is being framed, or after it is done. What changes by stage is the proof the lender needs that the house was built right.
The buyer side stays the same. Your credit, income and debts are judged by the same rules as any FHA purchase. The New Construction section of the handbook does not set its own lower loan-to-value cap, which is the share of the price a loan can cover. So a new home follows the normal FHA purchase rules on that point.
If you want the full list of borrower rules first, start with the complete Nevada FHA loan guide and come back here for the builder side.
What counts as new construction for an FHA loan?
FHA new construction means one of three stages. HUD defines each one, and the stage on the day of the appraisal decides which inspections the lender must collect.
"Existing Less than One Year refers to a Property that is 100 percent complete and has been completed less than one year from the date of the issuance of the CO or equivalent. The Property must have never been occupied."
HUD, FHA Single Family Housing Policy Handbook 4000.1, page 466, last revised 8/12/2026: https://www.hud.gov/sites/default/files/Housing/documents/40001-hsgh-Update-18.pdf
CO stands for certificate of occupancy, which is the paper a building department issues when a home is ready to live in. In the Las Vegas area, the local building department issues it, such as Clark County Building and Fire Prevention for homes in the unincorporated county.
Stage 1 · Proposed
No concrete or permanent material is in place yet. Digging the footings does not count.
Proof: the permit and the CO, or three inspections at footing, framing and final.
Stage 2 · Under construction
Permanent material is in, but the home is not done and has no CO.
Proof: the permit and the CO, or a final inspection.
Stage 3 · Less than a year old
Finished, CO issued within the last year, and never lived in.
Proof: the CO, or a final inspection.
The four situations, side by side
| Where the home is | How FHA treats it | Inspection proof | Builder forms needed |
|---|---|---|---|
| Not started | New construction, proposed | Permit and CO, or footing, framing and final inspections | Yes |
| Being built | New construction, under construction | Permit and CO, or a final inspection | Yes |
| Done, under a year, never lived in | New construction, existing less than one year | The CO, or a final inspection | Yes |
| Done, but someone has lived in it | An existing home, even if under a year old | Normal FHA appraisal rules | No |
That last row surprises people. A finished home that someone has already lived in is no longer new construction to FHA, even if it is only a few months old. That can be good news, because the builder's forms drop out of the file.
What does the builder have to sign for an FHA loan?
An FHA loan on a new construction home needs two HUD forms from the builder, plus a termite form. The lender has to put all of them in the loan file.
- Form HUD-92541, the Builder's Certification of Plans, Specifications, and Site. The builder answers questions about the lot, such as flood zones, road and airport noise, and nearby hazards. The lender has to hand the appraiser a signed copy dated no more than 30 days before the appraisal was ordered.
- Form HUD-92544, the Warranty of Completion of Construction. This is the builder's promise to you that the home was built to its plans. It runs for one year, covered below.
- Form HUD-NPMA-99-A, the builder's termite guarantee. This one matters in Nevada. HUD excuses certain counties in sixteen states from termite paperwork, and Nevada is not one of them.
There is one exception on the termite form. If the house is built of steel, masonry or concrete with only minor interior wood trim and roof sheathing, no treatment is needed. The builder notes that on the form instead. Our guide to FHA termite rules in Nevada covers the resale side too.
The inspections also go in the file. When a certified inspector or a licensed third party does them, the results go on form HUD-92051, the Compliance Inspection Report.
Ask the builder's sales office early whether its homes have closed with FHA loans before. A builder that has signed HUD-92541 and HUD-92544 many times will not slow your closing. One that never has may need a nudge, and that is easier to sort out before you sign the purchase contract.
How much can a builder pay toward an FHA loan?
An FHA loan lets a builder pay up to 6% of the sales price toward your closing costs. HUD calls the builder an interested party, which means anyone who gains from the sale, including sellers, agents and developers.
"Interested Parties may contribute up to 6 percent of the sales price toward the Borrower's origination fees, other closing costs, prepaid items, and Discount Points."
HUD, FHA Single Family Housing Policy Handbook 4000.1, page 260, last revised 8/12/2026: https://www.hud.gov/sites/default/files/Housing/documents/40001-hsgh-Update-18.pdf
Prepaid items are costs paid up front at closing, such as the first year of homeowners insurance. Discount points are simply fees paid to lower the interest rate.
The 6% also covers a builder-paid rate buydown and the builder paying your upfront mortgage insurance premium, the one-time fee FHA charges to insure the loan. It does not cover your down payment. HUD says interested party money may not be used for the minimum amount you must invest yourself.
This is the part most new-home guides skip. Anything past those limits becomes what HUD calls an inducement to purchase. An inducement is not refused. It is subtracted from the price, dollar for dollar, before the lender figures the loan amount.
What counts toward the 6% and what cuts the price
| Builder perk | How HUD counts it |
|---|---|
| Paying your closing costs, prepaid items or discount points | Counts toward the 6% cap |
| Paying for a temporary or permanent rate buydown | Counts toward the 6% cap |
| Paying your upfront mortgage insurance premium | Counts toward the 6% cap |
| Anything over 6%, or over your actual costs | Comes off the price as an inducement |
| Decorating allowance, moving costs or furniture | Comes off the price as an inducement |
| A range, refrigerator, washer, dryer or blinds that are customary for the area | Not an inducement |
A new home in a Las Vegas subdivision is priced at $450,000. HUD's 6% cap on builder money is $450,000 times 6%, or $27,000.
The builder offers $15,000 toward closing costs and $10,000 to pay for a temporary rate buydown. That is $25,000, which fits under the $27,000 cap with $2,000 to spare.
The builder also throws in a $4,000 decorating allowance. HUD lists that as an inducement, so it comes off the price. FHA sizes the loan from $446,000, not $450,000.
Illustrative figures only, not a quote, offer, or commitment to lend. Builder money also cannot exceed your actual closing costs. All loans are subject to credit, income, property, and underwriting approval.
The guide to FHA seller concessions in Las Vegas covers the same 6% rule when a regular homeowner is the seller.
The contract is where the incentive gets written down. Knowing how FHA will count each dollar before you sign costs nothing and can save a surprise at closing.
A local loan officer can review the builder's offer and your file. Soft credit check to start, no impact to your score. All loans are subject to credit, income, property, and underwriting approval. Not a quote, offer, or commitment to lend.
Check my FHA optionsCheck a builder's incentive package
The builder incentive check below applies HUD's 6% cap to a builder's offer. Put in the numbers to see the price FHA would size your loan from.
Builder incentive check
Uses HUD's interested party rules from Handbook 4000.1, pages 260 to 262. Illustrative only, not a quote, offer, or commitment to lend.
The closing cost and buydown money fits under the cap with $2,000 to spare. Other perks of $4,000 come off the price, so FHA sizes the loan from $446,000.
Builder money can only pay costs you actually have. If your real closing costs are lower than the credit, the extra also comes off the price. The 2026 Clark County FHA limit for a one-unit home is $541,287.
Does a builder rate buydown help you qualify for FHA?
A builder rate buydown does not help you qualify for an FHA loan. It lowers your payment for the first years, but HUD makes the lender use the full rate.
"The Mortgagee must use the Note rate when calculating principal and interest for Mortgages that involve a temporary interest rate buydown."
HUD, FHA Single Family Housing Policy Handbook 4000.1, page 202, last revised 8/12/2026: https://www.hud.gov/sites/default/files/Housing/documents/40001-hsgh-Update-18.pdf
A temporary buydown is money placed in an account at closing to cover part of your payment early on. The mortgagee is simply the lender. The note rate is the rate written in your loan papers, the one you pay once the buydown runs out.
HUD also says the buydown money has to sit in an escrow account, which is an account a third party holds. If you sell or pay off the loan early, the unused money does not go back to the builder.
So judge a buydown by the payment you can afford after it ends. If the full payment already fits your budget, a buydown is a nice cushion. For a longer read on how these work, see the parent company's plain guide to how a 3-2-1 buydown works. The Conventional site also has a Las Vegas guide to builder rate buydowns on new construction.
How does an FHA appraisal work in a new subdivision?
An FHA appraisal in a new Las Vegas subdivision has to look outside the builder's own sales. HUD requires at least one comparable sale from inside the subdivision and at least one from outside it.
A comparable sale, or comp, is a recent sale of a similar home that the appraiser uses to judge value. The outside comp keeps a builder's own prices from setting the value by themselves.
The appraiser also gets the builder's paperwork. For a home 90% done or less, the lender sends the floor plan and plot plan. For a home more than 90% done but not finished, the lender sends a list of what is left to install.
Timing matters on a long build. FHA INFO 2022-71 says an FHA appraisal is good for 180 days, and an update can stretch it to one year. If your home takes eight months to finish, plan on an update. The FHA appraisal requirements for Nevada cover the rest of what an appraiser checks.
Can you close if the new house is not finished?
An FHA loan can sometimes close before a new house is finished. HUD lets a lender close with a repair escrow, which is money set aside at closing to pay for unfinished work, but only if the home is habitable and safe on closing day.
The escrow has to hold enough to cover that work. The lender signs form HUD-92300, the Mortgagee's Assurance of Completion, to show the escrow is in place.
Once the work is done, the lender certifies it on form HUD-92051. HUD also says the cost of your own labor cannot go into the escrow.
Do not count on this. Many buyers wait for the CO instead. Ask the builder in writing when it expects the CO, and whether it will hold the closing date if the city or county is slow.
Can FHA finance a new condo or manufactured home?
FHA can finance a new condo or a new manufactured home. HUD lists three property types for new construction: site-built homes of one to four units, condo units in an approved project, and manufactured homes.
- A new condo has to be in a project or legal phase that FHA has approved, and the lender needs a CO. The FHA condo approval guide for Las Vegas explains how to check a project.
- A new manufactured home uses two inspections instead of three when it is still proposed: an initial one and a final one. The manufactured and modular home guide covers the foundation rules.
- A home with a small second unit, called an accessory dwelling unit, is on the list too, for site-built and manufactured homes alike.
What happens if something is wrong after you move in?
The FHA builder warranty on form HUD-92544 gives you one year to report a defect in writing. The clock starts at the earlier of the day you take title or the day you move in.
"The Purchaser(s)/Owner(s) or his/her (their) successors or transferees shall have given written notice to the Warrantor at any time or times within one year from the date of original conveyance of title to such Purchaser(s)/Owner(s) or the date of initial occupancy, whichever first occurs."
HUD, form HUD-92544, Warranty of Completion of Construction, 4/2023 edition: https://www.hud.gov/sites/dfiles/OCHCO/documents/92544.pdf
Two things make that warranty work for you. Write down every problem you find, with dates and photos. And send the notice in writing, not just a phone call to the sales office.
Nevada has its own process too. Under NRS 40.645, a homeowner gives the builder a written notice of defect before filing certain lawsuits over construction defects. That is a legal step, so talk to a Nevada attorney if it gets that far.
Insurance is the other half of protecting a new home. Valley West Insurance has a guide to insuring a new construction home in Henderson, since your lender will want coverage in place at closing.
What should a Las Vegas new-build buyer do next?
An FHA buyer eyeing a new Las Vegas home should line up the loan pieces before signing the builder's contract. The contract is where most of the money questions get settled.
- Get pre-approved first. Know your FHA budget before you visit model homes, so the sales office cannot set it for you.
- Check the price against the limit. The 2026 Clark County limit for a one-unit home is $541,287. See the Clark County FHA loan limits for two to four units.
- Get every incentive in writing. List each dollar and what it pays for, so your lender can sort it against the 6% cap.
- Ask about the HUD forms. Confirm the builder will sign HUD-92541, HUD-92544 and the termite guarantee.
- Check the builder's license. The Nevada State Contractors Board has a free license search.
- Book a final walk-through. An FHA appraisal is not a home inspection. The FHA inspection checklist helps you look before closing.
Buying in a specific city? The Henderson FHA guide and the North Las Vegas FHA guide cover the local side of the valley's newest neighborhoods.
The bottom line
An FHA loan for new construction in Las Vegas comes down to the builder's paperwork and the builder's money.
The paperwork is HUD-92541, HUD-92544 and the termite guarantee, plus the inspections for your stage. The money is the 6% cap. Closing cost and buydown credits fit under it, while perks like a decorating allowance come off the price.
Valley West Mortgage is a local mortgage lender that writes FHA loans across Clark County. Check your FHA options before you sign the builder's contract.
Article history
- September 26, 2026 · Published. Built from HUD Handbook 4000.1, Update 18, last revised 8/12/2026, downloaded as a PDF and read rather than summarized, for the new construction stages, inspections, builder forms, interested party cap, inducements, buydown qualifying rule, repair escrow and subdivision comparable sales rules.
- September 26, 2026 · HUD forms read directly. Forms HUD-92541 and HUD-92544 were downloaded from HUD's own site and read, including the one-year notice window in the warranty.
- September 26, 2026 · Limits and appraisal window checked. The $541,287 one-unit floor was read in Mortgagee Letter 2025-23, and the 180-day appraisal window in FHA INFO 2022-71.
Frequently asked questions
Can you use an FHA loan to buy a new construction home?
Yes. HUD allows FHA financing for homes not yet started, homes under construction, and finished homes less than one year old that have never been lived in.
The builder has to sign HUD's forms, and the lender has to collect the inspections that match the home's stage.
What forms does a builder sign for an FHA loan?
The builder signs form HUD-92541, the Builder's Certification of Plans, Specifications, and Site, and form HUD-92544, the Warranty of Completion of Construction.
In Nevada the builder also signs form HUD-NPMA-99-A, a termite protection guarantee, because Nevada is not on HUD's termite exception list.
Does a new build have different FHA loan limits or loan-to-value rules?
No. The same county limits apply, and HUD's New Construction section does not set its own lower loan-to-value cap. The 2026 Clark County limit for a one-unit home is $541,287.
How much can a builder pay toward my closing costs on an FHA loan?
Up to 6% of the sales price, toward closing costs, prepaid items, discount points, rate buydowns and the upfront mortgage insurance premium.
Money over 6%, or over your actual costs, comes off the price before the loan is sized.
Does a builder's rate buydown help me qualify for an FHA loan?
No. HUD requires the lender to qualify you at the note rate, which is the full rate in your loan papers.
That holds even when a temporary buydown lowers the early payments.
Can I close on an FHA loan before the new home is finished?
Only in limited cases. HUD lets a lender set up a repair escrow for incomplete construction if the home is habitable and safe at closing.
The escrow must hold enough money to cover the cost of the unfinished work.
Does a new home in Nevada need termite treatment for an FHA loan?
Yes, in most cases. The builder must sign a termite protection guarantee on form HUD-NPMA-99-A for every new FHA home in Nevada.
A home built of steel, masonry or concrete, with only minor interior wood trim and roof sheathing, needs no treatment. The builder notes that on the form.
What warranty comes with an FHA new construction home?
Form HUD-92544 is a one-year warranty from the builder. You must give written notice of a problem within one year of taking title or moving in, whichever comes first.
Sources
Editions this page reads: Handbook 4000.1 Update 18 (08/12/26) · Mortgagee Letter 2025-23 (12/11/25) · FHA INFO 2022-71 (07/12/22).
- Every FHA handbook rule on this page. HUD, FHA Single Family Housing Policy Handbook 4000.1, Update 18, last revised 8/12/2026: pages 466 to 469 for new construction stages, inspections and required documents, page 472 for subdivision comparable sales and completion, page 202 for qualifying at the note rate, pages 260 to 262 for interested party contributions and inducements, and pages 371 and 372 for repair escrows and buydown escrows: hud.gov (downloaded and read September 26, 2026)
- The handbook's home page, for the current version: hud.gov (read September 26, 2026)
- Builder's Certification of Plans, Specifications, and Site. HUD, form HUD-92541: hud.gov (downloaded September 26, 2026)
- Warranty of Completion of Construction. HUD, form HUD-92544, 4/2023 edition: hud.gov (downloaded September 26, 2026)
- Termite Treatment Exception Areas. HUD, Single Family Housing: hud.gov (read September 26, 2026)
- The 2026 FHA one-unit floor of $541,287. HUD, Mortgagee Letter 2025-23, dated December 11, 2025: hud.gov (downloaded and read September 26, 2026)
- The Clark County limit. HUD, FHA Mortgage Limits lookup, Las Vegas-Henderson-North Las Vegas, CY2026: entp.hud.gov (read September 26, 2026)
- The 180-day appraisal window. HUD, FHA INFO 2022-71, July 12, 2022: hud.gov (read September 26, 2026)
- Nevada notice of constructional defect. Nevada Revised Statutes, NRS 40.645: leg.state.nv.us (read September 26, 2026)
- Nevada contractor license search. Nevada State Contractors Board: nvcontractorsboard.com (read September 26, 2026)
The rest of the Nevada FHA library. A new build touches several of these at once: