FHA Loans
Easier to qualify and small down payments for buying a house
What is an FHA mortgage?
An FHA mortgage is a government backed home loan insured by the Federal Housing Administration (FHA) with more flexible lending standards than conventional loans. FHA loans may have an easier qualification process due to less stringent down payment and credit requirements than other types of home loans.
Advantages of FHA:
- Low mortgage rates.
- Low down payment requirements.
- Less stringent lending standards.
- Gift funds: Family members can gift funds for down payment.
FHA mortgage lending limits vary based on a variety of housing types and the state and county where the property is located.
FHA Loan Limits in Nevada as of 01/01/2015:
| County | One Family | Two-Family | Three-Family | Four-Family |
| Lyon | $271,050 | $347,000 | $419,425 | $521,250 |
| Pershing | $271,050 | $347,000 | $419,425 | $521,250 |
| Elko | $271,050 | $347,000 | $419,425 | $521,250 |
| Washoe | $325,450 | $416,600 | $503,600 | $625,850 |
| Carson City | $286,350 | $366,550 | $443,100 | $550,650 |
| Esmeralda | $271,050 | $347,000 | $419,425 | $521,250 |
| Humboldt | $271,050 | $347,000 | $419,425 | $521,250 |
| Lincoln | $271,050 | $347,000 | $419,425 | $521,250 |
| Churchill | $271,050 | $347,000 | $419,425 | $521,250 |
| Lander | $271,050 | $347,000 | $419,425 | $521,250 |
| Clark | $287,500 | $368,050 | $444,900 | $552,900 |
| Eureka | $271,050 | $347,000 | $419,425 | $521,250 |
| Mineral | $271,050 | $347,000 | $419,425 | $521,250 |
| Storey | $325,450 | $416,600 | $503,600 | $625,850 |
| White Pine | $271,050 | $347,000 | $419,425 | $521,250 |
| Douglas | $350,750 | $449,000 | $542,750 | $674,500 |
| Nye | $271,050 | $347,000 | $419,425 | $521,250 |
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