Quick answer (October 2026): A conventional loan is a mortgage that no government agency insures or guarantees. For 2026, the conforming loan limit in Clark County is $832,750 for a one-unit home. Fannie Mae sets no minimum credit score for loans its automated system reviews, though lenders may set their own. On a primary home, you can ask to cancel private mortgage insurance (PMI) once the balance is scheduled to reach 80% of the home's original value, if you meet the servicer's conditions. Valley West Mortgage is a Las Vegas mortgage lender, NMLS #65506.
Want to see how a conventional loan fits your file?
Tell us what you want to buy and roughly where your credit and savings stand. A loan officer can walk through conventional and FHA side by side for your situation. It is not a loan decision, a rate quote or a commitment to lend.
Talk to a loan officerConventional is one of the main loan types Las Vegas buyers consider. It carries the highest conforming loan amount available in the county. It works on primary homes, second homes and rentals. On a primary home, its mortgage insurance has an exit written into federal law.
In exchange, it asks more of your credit than FHA does. This guide covers what conventional loans in Las Vegas commonly require, the 2026 limits, how PMI ends and how to apply.
Key takeaways
- The 2026 Clark County conforming limit is $832,750 for a one-unit home, the FHFA baseline. Every address in the county shares it. Above it, a loan becomes jumbo (too large for the conforming rules).
- Low down payment programs exist for some buyers. The exact minimum depends on the program and your file. A larger down payment can avoid PMI, but it is not a rule of the loan.
- On a primary home, PMI is temporary by law. Under the Homeowners Protection Act you can ask to cancel it when the balance is scheduled to reach 80% of the home's original value, and it ends automatically at 78%. FHA's insurance can last the life of the loan.
- Guidelines come from Fannie Mae and Freddie Mac, the companies that buy conforming loans. Fannie Mae sets no minimum credit score for loans its automated system (DU) reviews. A loan reviewed by hand needs 620 for a fixed rate. Lenders may set their own floors.
How do conventional loans in Las Vegas work?
A conventional loan is any mortgage that no government agency insures or guarantees. No FHA insurance or VA guaranty stands behind the lender. Instead, the loan stands on your own credit, income and equity. Many conventional loans in Las Vegas are conforming.
That means they fit the loan limits and rules set by Fannie Mae and Freddie Mac, the government-sponsored companies that buy these loans from lenders. That is why conventional rules look so alike from one lender to the next, and why the county loan limit matters so much.
No government insurance fund absorbs the losses, so the program leans on the strength of the file. Credit history carries more weight than it does on FHA, and pricing rewards equity and score. In return, you get flexibility. Conventional loans work on primary homes, second homes, condos and rentals, and their mortgage insurance is designed to end.
Condos carry one extra gate, because the agencies review the building's project as well as the borrower. A project that fails those standards moves to a different kind of loan. For the fuller program map, start with the Las Vegas home loan walkthrough we keep there.
Conforming, jumbo, and where DSCR fits
Three types show up in this valley. Conforming loans sit at or under the county limit and follow the published rules. Jumbo loans sit above the limit and follow each lender's own standards.
Investors have a third path. A DSCR loan (debt service coverage ratio: the rent divided by the payment) qualifies a Las Vegas rental on its own rent instead of your income. Our guide to DSCR loan requirements for Nevada investors covers how that file is built. The full overview lives in our rental-income financing hub for Las Vegas. This page focuses on conforming conventional loans, the path many Las Vegas buyers use.
Who commonly qualifies for a conventional loan in Nevada?
Fannie Mae and Freddie Mac publish the rules, and lenders review every file against them. Underwriting (the lender's review of your credit, income and assets) checks each line below. These are common 2026 baselines, not a promise about any one application:
| What underwriting weighs | Common convention | In practice |
|---|---|---|
| Credit score | Fannie Mae: no set minimum for loans its automated system (DU) reviews; 620 for a fixed-rate loan reviewed by hand | Lenders may set their own floors, and a higher score generally widens options and pricing |
| Down payment | Low down payment programs exist for some buyers; the minimum depends on the program | A larger down payment can avoid PMI but is not required; documented gift funds are commonly permitted if the file qualifies |
| Debt-to-income ratio | Commonly into the mid-40s percent range with automated underwriting approval | Strong reserves and credit can act as compensating factors |
| Occupancy (whether you live in the home) | Primary, second home, or investment property | The flexibility FHA does not offer; bigger down payments are the norm beyond primary homes |
| Loan amount | Within the county conforming limit | $832,750 for a one-unit Clark County home in 2026; above it, jumbo guidelines take over |
Income, and how it gets documented
W-2 income is simple to document: paystubs, W-2s and a check with your employer. Self-employed income takes more paper and more planning. A prepared file does much better here than an improvised one. Our guide to qualifying when you are self-employed walks through the two years of records.
Either way, your debt-to-income ratio (your monthly debts divided by your monthly income) does most of the qualifying work. If this is your first purchase, the checklist in a first conventional purchase in Las Vegas pairs well with this page.
What credit score does a conventional loan need in 2026?
Fannie Mae no longer sets a minimum credit score for loans run through Desktop Underwriter (DU), its automated review system. Many conventional files go through an automated system, such as Fannie Mae's DU or Freddie Mac's Loan Product Advisor. The old 620 floor still applies to a fixed-rate loan that is reviewed by hand. Here is the rule in Fannie Mae's own words:
“A minimum credit score is not required for DU loan casefiles.”Fannie Mae Selling Guide, B3-5.1-01, General Requirements for Credit Scores (04/22/2026)
| How the loan is reviewed | Fannie Mae minimum credit score |
|---|---|
| Desktop Underwriter (DU), Fannie Mae's automated system | None set |
| Reviewed by hand (manual underwriting), fixed-rate loan | 620 |
| Reviewed by hand (manual underwriting), adjustable-rate loan | 640 |
No minimum is not the same as no review. DU still weighs your whole credit history, and lenders may set their own score floors on top of Fannie Mae's rules. Your score also shapes pricing and mortgage insurance cost.
Freddie Mac publishes its own rules for loans it buys, so ask which one your loan will follow. If your score is low, it can pay to work on your credit before you apply.
What are the 2026 conforming loan limits in Clark County?
One number covers the whole map: $832,750 for a one-unit home, everywhere in Clark County. Las Vegas, Henderson, North Las Vegas and Boulder City all share it. FHFA sets conforming limits county by county, and Clark County follows the national baseline. FHFA also publishes higher limits for two-, three- and four-unit homes. The full state picture lives in the 2026 Nevada conforming limit breakdown on our conventional site.
For contrast, the 2026 FHA limit for a one-unit Clark County home is $541,287. That gap of about $290,000 matters. For a loan amount between the two limits, an FHA loan is not available, so the usual path is conventional or, for eligible buyers, VA financing. Above $832,750, the loan is jumbo and each lender's own rules apply.
How does a conventional loan compare with FHA?
The two programs answer different questions. Conventional asks how strong the file is. FHA asks how to get a workable file approved anyway. Here is the 2026 side-by-side for Clark County:
| Feature | Conventional (conforming) | FHA |
|---|---|---|
| 2026 one-unit limit (Clark County) | $832,750 | $541,287 |
| Down payment | Low down payment programs for some buyers; the minimum depends on the program | Low down payment options; HUD ties the minimum to your credit score |
| Credit score | Fannie Mae: no set minimum on DU loans; 620 if a fixed-rate loan is reviewed by hand; lender floors vary | 580 for maximum financing (HUD) |
| Mortgage insurance | PMI only when the loan is over 80% of the home's value; on a primary home, cancel by request at 80% of original value, automatic end at 78% | An upfront premium plus an annual premium (MIP) set by HUD; with a small down payment, the annual premium can last the life of the loan |
| Occupancy | Primary, second home, or investment | Primary residence only |
Neither column wins in the abstract. FHA earns its keep on thinner credit and smaller savings. Conventional earns its keep on removable insurance, higher limits and occupancy flexibility. The choice deserves your actual numbers, and our FHA versus conventional comparison runs that math in both directions. Buyers who start on FHA often refinance into conventional later. That is why the PMI rules below matter.
How does PMI work, and when does it end?
If your conventional loan is more than 80% of the home's value, the lender will require private mortgage insurance. PMI protects the lender, and you pay for it inside the monthly payment. Unlike FHA's insurance, federal law sets its exit.
The Homeowners Protection Act covers borrower-paid PMI on a single-family primary home loan that closed on or after July 29, 1999. Here is how the Consumer Financial Protection Bureau (CFPB) puts the first step:
“You have the right to ask your servicer to cancel PMI on the date the principal balance of your mortgage is scheduled to fall to 80 percent of the original value of your home.”Consumer Financial Protection Bureau, When can I remove private mortgage insurance (PMI) from my loan?
You can ask sooner if extra payments bring the balance down to 80%. The request must be in writing, your payments must be current with a good history, and you may need to show the home's value has not dropped.
At 78% on the original schedule, PMI ends automatically if you are current. If you are current, your servicer must also end it the month after you reach the midpoint of the loan's payment schedule. Some lenders and servicers may also allow removal under their own standards. The request path and its paperwork are in our guide to removing private mortgage insurance.
Say the home's original value is $450,000 and your starting loan is $427,500.
Request cancellation: balance at 80% of original value = $450,000 × 80% = $360,000
Automatic termination: balance at 78% of original value = $450,000 × 78% = $351,000
These are balance targets only, not payments. They are illustrative, not a quote or an offer. Your loan size, program and payment history set your real numbers.
Check your own PMI exit
PMI exit checker
Educational tool. It does simple math on the numbers you enter, in your browser, and does not send them to us. It applies to borrower-paid PMI on a single-family primary home loan that closed on or after July 29, 1999. It is not a quote, an offer of credit or a commitment to lend. Your servicer decides.
Your servicer must grant a written request at 80% when all four of these are true, per the CFPB:
- You make the request in writing.
- You have a good payment history and are current on your payments.
- You can certify there are no junior liens (such as a second mortgage) on the home.
- You can show, for example with an appraisal, that the home's value has not dropped below its original value.
Compare that with FHA. HUD charges an upfront premium and an annual premium. With a small down payment, the annual premium can last for the life of the loan. This one difference is why many Las Vegas homeowners treat FHA as the way in and a conventional refinance as the way out.
How do you apply for a conventional loan? Five steps
Step 1: Get preapproved. Gather W-2s, recent paystubs, two months of bank statements and federal tax returns. The lender reviews your credit and issues a documented preapproval. This step turns "probably" into a number.
Step 2: Set your budget under the limit. The letter states a maximum, and a comfortable payment usually sits below it. Our walkthrough of how much house you can afford helps you pick a number you can live with, while keeping a conforming loan inside the county limit.
Step 3: Shop and make your offer. Tour with your agent and send offers with the preapproval attached. A documented preapproval shows a seller you have been reviewed. An accepted offer puts you under contract. From there, how a mortgage application runs in Las Vegas from submission to closing maps the weeks that follow.
From contract to keys
Step 4: Appraisal and underwriting. The lender orders an appraisal to support the price. Meanwhile an underwriter (the lender's file reviewer) checks the file and lists any conditions. Conventional appraisals still note the home's condition, and safety or structural problems must be fixed, but they do not use FHA's minimum property requirements checklist. For timing, see how long underwriting usually takes once a Las Vegas file is submitted.
Step 5: Clear to close. The lender checks your job and credit one last time. You review the Closing Disclosure, sign, the loan funds and you get the keys. Between preapproval and closing, change nothing about your finances without a phone call first.
Before you sign, know the bill. Our guide to who pays closing costs in Nevada maps every buyer-side line item and the seller-credit caps. For the county numbers themselves (transfer tax, recording fees and escrow, the neutral account that holds money until closing), our county-by-county Nevada closing cost data names its source for every figure.
Ready to talk through your conventional options?
Tell us about the home and your timeline. A loan officer can go over the documents to gather and how the steps above would apply to you. It is not a loan decision, a rate quote or a commitment to lend.
Talk to a loan officerWhy work with a Las Vegas lender on a conventional loan?
Conventional rules are national, but the files are local. Las Vegas purchases have their own texture: condo communities with HOAs, new construction, appraisals that shift block by block and a market where offer timing matters. A local lender follows the published rules while knowing the valley. It also keeps the loan officer, the processor and the decision under one roof while your escrow clock is running.
Valley West takeThe conventional buyers who do best are the prepared ones. They paper gift funds early. They pull credit at the right moment, not the anxious one. They write the offer inside the conforming limit instead of just above it.
And they plan the PMI exit on day one, so the insurance is a season instead of a surprise.
Prices in some Las Vegas neighborhoods can exceed the conforming limit. In those cases, conventional and jumbo financing can be part of the same conversation. Our page on conventional and jumbo financing in Summerlin covers that area.
Conventional loans in Las Vegas: FAQ
What credit score do you need for a conventional loan in Las Vegas?
Fannie Mae sets no minimum credit score for loans its automated system, Desktop Underwriter (DU), reviews. A fixed-rate loan reviewed by hand still needs 620. Lenders may set their own floors, and a higher score generally widens your options. If your score is low, working on your credit before you apply can help.
What is the conventional loan limit in Las Vegas for 2026?
$832,750 for a one-unit home, everywhere in Clark County, matching the 2026 FHFA baseline. Las Vegas, Henderson, North Las Vegas and Boulder City all share it. FHFA publishes higher limits for two- to four-unit homes, and loans above the limit are jumbo.
How much is the down payment on a conventional loan?
It depends on the program and your file. Fannie Mae and Freddie Mac offer low down payment programs for some buyers. A larger down payment can avoid PMI, but it is not a rule of the loan. Documented gift funds from family are commonly permitted.
More conventional loan questions
Do conventional loans require mortgage insurance?
Commonly only when the loan is more than 80% of the home's value. On a single-family primary home, PMI is temporary by federal law. The Homeowners Protection Act lets you ask to cancel it when the balance is scheduled to reach 80% of the original value, and it ends automatically at 78%. FHA's insurance works differently and can last the life of the loan.
Can extra payments get PMI removed sooner?
Yes, the request can come sooner. The CFPB says you can ask to cancel PMI ahead of schedule if extra payments bring the balance to 80% of the home's original value. The automatic end at 78% still goes by the original payment schedule.
What does original value mean for PMI?
Per the CFPB, it generally means the contract sales price or the appraised value when you bought the home, whichever is lower. If you have refinanced, it is the appraised value at the time of the refinance.
Can you buy a second home or rental property with a conventional loan?
Yes. Conventional loans cover primary homes, second homes and rental properties, with larger down payments the norm beyond a primary home. Investors who would rather qualify on the property's rent than on their own income can compare DSCR financing, which we cover separately.
Is a conventional loan better than an FHA loan?
Neither wins in the abstract. Conventional tends to fit stronger credit and some savings, because its insurance is removable, its limit is higher and its occupancy rules are flexible. FHA tends to fit thinner credit and smaller savings. Run both on your actual numbers before choosing.
The bottom line
Conventional loans in Las Vegas come down to four facts. The conforming limit is $832,750 across the county. Low down payment programs exist for some buyers. Fannie Mae sets no minimum credit score on loans its automated system reviews. And on a primary home, PMI has a legal exit at 80% of original value.
The program asks more of your credit than FHA does and pays you back with flexibility and an insurance bill that ends.
If those terms fit your file, the path is short: one document list, one review, one preapproval letter. You can also pick the mortgage loan officer in Nevada you want to work with before you apply.
Want a loan officer to look at your conventional options?
Tell us what you are buying and when. A loan officer can walk through how conventional and FHA would compare for your situation and what to gather first. It is not a loan decision, a rate quote or a commitment to lend.
Talk to a loan officerTalk to a Valley West specialist
Sources
- FHFA, conforming loan limit values for 2026 ($832,750 one-unit baseline; higher limits for 2-4 units): fhfa.gov
- CFPB, what is a conventional loan: consumerfinance.gov
- CFPB, when can I remove private mortgage insurance (Homeowners Protection Act: request when the balance is scheduled to reach 80% of original value, automatic termination at 78%, for single-family primary home loans closed on or after July 29, 1999): consumerfinance.gov
- CFPB, what is private mortgage insurance: consumerfinance.gov
- HUD, Mortgagee Letter 2023-05 (FHA upfront and annual mortgage insurance premiums and how long they last, used for contrast): hud.gov
- HUD, FHA Mortgage Limits lookup (2026 Clark County one-unit FHA limit $541,287, used for contrast): entp.hud.gov
- Fannie Mae Selling Guide B3-5.1-01, General Requirements for Credit Scores (04/22/2026). A minimum credit score is not required for DU loan casefiles. Manually underwritten loans need 620 (fixed-rate) or 640 (ARM): fanniemae.com
Across Valley West: Veterans weighing a zero down payment option can start with our VA loan guide for Nevada service members. VA loans are government-backed, and Valley West Mortgage is not affiliated with or endorsed by the U.S. Department of Veterans Affairs. Once you own the home, our insurance agency handles Nevada homeowners coverage.
Keep reading
Last updated: October 25, 2026. The credit score, loan limit and PMI rules on this page were re-checked against their sources on that date.
