Nevada Mortgage Loan Programs — Complete Overview
Overview
Nevada mortgage borrowers have access to substantial program variety — from standard conventional + FHA + VA loans to specialty physician + self-employed + investor programs. Through Cornerstone First Mortgage's wholesale lender network, Mike Certo accesses essentially all major mortgage product categories.
This page covers the main programs available + when each fits. For specific scenarios, see the detailed program pages linked throughout.
Conventional mortgages
Standard conventional
- Description: Fannie Mae + Freddie Mac standard mortgages
- Down payment: 3-20%
- Credit score: 620+ minimum, 720+ for best rates
- Loan limits: Up to $806K conforming (NV 2026); $832K high-balance (Washoe)
- PMI: Required below 20% down; removable at 80% LTV
- Best for: Most NV buyers with W-2 income + reasonable credit
Conventional 97 (3% down)
- Description: Fannie Mae HomeReady + Freddie Mac Home Possible (3% down options)
- Down payment: 3% minimum
- Credit score: 620+ (better rates at 720+)
- PMI: Required; removable at 80% LTV
- Best for: First-time buyers with good credit + limited down payment
- See: FHA vs Conventional Nevada
Government-backed loans
FHA loans
- Description: Federal Housing Administration-insured loans
- Down payment: 3.5% minimum (with 580+ FICO) or 10% (500-579 FICO)
- Credit score: 500-579 with 10% down; 580+ with 3.5% down
- DTI: Up to 50% with compensating factors
- MIP (mortgage insurance): UFMIP 1.75% (financed) + monthly MIP for life of most loans
- Loan limits: $498K-$832K depending on NV county
- Best for: First-time buyers, lower credit, smaller down payment
- See: Spring Valley + Sunrise Manor + Whitney FHA, FHA vs Conventional Nevada
VA loans (eligible veterans)
- Description: Department of Veterans Affairs-backed loans
- Down payment: $0 (100% LTV)
- Mortgage insurance: None (no PMI/MIP)
- Funding fee: 2.15-3.3% typically (waived for service-connected disabled vets)
- Eligibility: Active duty, veterans, eligible spouses (per VA criteria)
- Loan limits: $806K conforming (NV 2026) with full entitlement
- Best for: All eligible NV veterans
- See: Nellis AFB Mortgage, VA vs FHA Nevada, Nevada Disabled Veteran Property Tax Exemption
USDA loans (rural)
- Description: US Department of Agriculture rural housing program
- Down payment: $0
- Mortgage insurance: Annual 0.35% + 1% upfront
- Eligibility: Rural-designated areas + income limits
- NV eligible areas: Pahrump (re-added 2025), parts of rural Nye/Lyon/Washoe, Mesquite, rural areas
- Best for: Income-qualifying buyers in eligible rural NV
- See: Pahrump USDA Loan
Jumbo loans
Standard jumbo
- Description: Loans above $806K NV conforming limit
- Down payment: 10-30% typical
- Credit score: 700+ typical for best terms
- Best for: $806K-$3M loan range; standard jumbo scenarios
- See: Lake Tahoe Jumbo, Summerlin Jumbo
Super-jumbo + private banking
- Description: $3M-$30M+ loans via portfolio + private banking
- Down payment: 25-40%+ typical
- Best for: Ultra-premium properties (Tahoe NV-side, MacDonald Highlands, Ascaya, premier Summerlin)
- See: MacDonald Highlands Jumbo, Glenbrook NV Jumbo
Specialty jumbo types
- Bank statement jumbo — for self-employed
- DSCR jumbo — for investors (rental property)
- Asset depletion jumbo — for HNW retirees + portfolio holders
- Foreign national jumbo — non-US borrowers
- Construction-to-perm jumbo — custom builds (Ascaya, MacDonald Highlands)
Doctor / Physician loans
Standard physician loan
- Description: Specialty mortgage for medical professionals
- Down payment: $0 up to $1.5M; 5% up to $2M
- Mortgage insurance: None
- Eligibility: MD, DO, DDS, DMD, DVM, VMD, DPM, PharmD, CRNA, DNAP (per Redwood Sequoia)
- DTI: Up to 50%
- Student loan treatment: IBR/PAYE actual payment counts
- Best for: Most physicians + medical professionals in NV
- See: Best Physician Loan Lenders NV, Physician Loan vs Conventional NV
Specialty physician scenarios
- Resident pre-attending — use future-attending contract income
- Locum tenens (1099) — Newfi Hercules backup product
- Practice owner self-employed — K-1 + W-2 combined
- Jumbo physician — for $2M+ home scenarios
Self-employed + alt-doc loans
Bank statement loans
- Description: Qualifying based on bank deposits, not tax returns
- Documentation: 12 or 24 months bank statements
- Best for: Self-employed whose tax returns understate cash flow
- See: Bank Statement Loan NV Deep Dive, Best Bank Statement Lenders NV 2026
P&L only loans
- Description: Qualifying based on CPA-prepared profit & loss
- Documentation: Current YTD P&L
- Best for: Established business owners with CPA-managed books
- See: P&L Only Loan NV
1099 only loans
- Description: Direct 1099 income qualifying
- Documentation: 2 years 1099 forms
- Best for: Contractors, gig workers with consistent 1099 income
- See: 1099 Only Mortgage NV
Asset depletion loans
- Description: Qualifying based on liquid asset portfolio
- Documentation: Asset statements
- Best for: Asset-rich, income-modest scenarios (retirees, pre-IPO founders)
Investor / DSCR loans
DSCR (Debt Service Coverage Ratio) loans
- Description: Rental property qualifying based on rent covering debt service
- Down payment: 20-30% typical
- Best for: Rental property investors, STR + LTR scenarios
- See: Reno DSCR Loan, Incline Village STR DSCR, Las Vegas STR Regulations
Conventional investment loans
- Description: Standard conventional applied to investment property
- Down payment: 20-25% typical
- Best for: Strong personal income + traditional investor scenarios
Buy-before-you-sell (BBYS) + bridge
Mike's lender-direct BBYS
- Description: Bridge financing without national BBYS program fees (2-3.5%)
- Best for: Move-up + downsizing scenarios where you want to buy before selling
- See: Buy Before You Sell Las Vegas, Sun City Summerlin Downsizing
HELOC (Home Equity Line of Credit)
- Description: Revolving credit against current home equity
- Best for: Slower-timeline moves; multi-use equity access
Standard bridge loans
- Description: Short-term loans against current home equity
- Best for: Investor scenarios + quick gap financing
- See: Bridge Loan vs HELOC vs BBYS Nevada
Refinance products
Standard rate-term refi
- Description: Lower rate or change term without taking cash out
- Best for: Rate-environment-driven refis
Cash-out refi
- Description: Take cash out of home equity
- Best for: Debt consolidation, home improvement, investment, divorce buyout
Limited cash-out refi (Fannie Mae B2-1.3-02)
- Description: Specific treatment for divorce community property buyouts
- Best for: Divorce refi scenarios
- See: Community Property Buyout, Spousal Support as Mortgage Income
VA Streamline (IRRRL)
- Description: Streamlined VA refinance for existing VA loan holders
- Best for: VA borrowers reducing rate
FHA Streamline
- Description: Simplified FHA refinance for existing FHA holders
- Best for: FHA borrowers reducing rate
Resident-to-Attending physician refi
- Description: Strategic refi when physician income increases
- Best for: Physicians transitioning from resident to attending
- See: Resident-to-Attending Refi
DPA (Down Payment Assistance) programs
Worker Advantage (NEW Dec 2025)
- $20K assistance for essential workers (healthcare, education, public safety, construction)
- Statewide NV including Las Vegas, Reno, Henderson, all areas
- See: Worker Advantage Program
Home Is Possible (HIP)
- Up to 5% of loan as forgivable DPA
- Statewide NV
- See: Home Is Possible Nevada
HIP for Heroes
- For first responders + healthcare workers
- See: HIP for Heroes Nevada
HIP for Teachers
- For K-12 educators
- See: HIP for Teachers Nevada
Home At Last (Rural NV)
- 5% grant for rural NV areas
- Best for: Pahrump + other rural NV buyers
City of Las Vegas DPA
- City-level assistance for LV city residents
Clark County DPA + Washoe County DPA
- County-level assistance
Programs by life stage
First-time buyers
- FHA + HIP / Worker Advantage stacking
- Conventional 97 + DPA
- VA for eligible vets
- USDA for rural NV
- See: Home Is Possible Nevada
Move-up families
- Conventional 80% LTV
- Bridge + BBYS for timing
- See: Bridge Loan vs HELOC vs BBYS Nevada
Self-employed / business owners
- Bank statement loans
- P&L only loans
- 1099 only loans
- See: [Self-Employed deep dive pages]
Physicians + medical professionals
- Doctor loans (Redwood Sequoia)
- Specialty programs for CRNA, DVM, PharmD
- See: Best Physician Loan Lenders NV
Military families
- VA loans + DPA pairing
- See: Nellis AFB Mortgage
Investors
- DSCR loans
- Conventional investment
- See: Reno DSCR Loan
55+ retirees + active adults
- Asset depletion qualifying
- Reverse-for-purchase (HECM)
- See: Sun City Summerlin Downsizing
Relocators from CA / other states
- Standard relocation mortgages
- Corridor-specific guides
- See: LA to Las Vegas, SF to Reno
Divorcing couples
- Divorce buyout refinance (limited cash-out)
- See: Community Property Buyout
Bilingual support
For Spanish-speaking borrowers, Mike provides: - Spanish-language consultations - Spanish-language page content (growing) - ITIN loan program access (for non-SSN borrowers) - See: Préstamo Hipotecario en Las Vegas, Worker Advantage en Español, Hipoteca Divorcio Nevada
How to choose your program
The best mortgage program depends on:
- Your situation (income type, credit, savings, target home)
- Your timeline (short-term vs long-term hold)
- Your specific scenario (first-time, move-up, military, divorce, etc.)
- Available products + your eligibility
Mike provides free pre-qualification analysis that compares multiple programs side-by-side for your specific scenario.
Schedule free 30-minute call with Mike
Mike Certo · NMLS #260555 · Cornerstone First Mortgage NMLS #173855 · Equal Housing Lender. Educational content, not a loan commitment. Loans subject to buyer and property qualification.