FHA Home Loans
FHA financing explained for Greater Las Vegas buyers, from down payments and mortgage insurance to condos, manufactured homes, appraisals and seller concessions.
Last reviewed September 9, 2026
Quick Answer
An FHA loan is a mortgage issued by an approved lender and insured by the Federal Housing Administration. FHA financing can provide qualified buyers with relatively low down-payment options and flexible underwriting, but borrowers must satisfy FHA qualification, mortgage-insurance and property requirements.
What is an FHA loan, and how does it work?
An FHA loan is a mortgage made by an approved private lender and insured by the Federal Housing Administration. The federal government does not generally lend you the money directly. Instead, FHA insurance protects the lender against specified losses if the borrower defaults, which is what allows approved lenders to offer loans under FHA rules to qualified borrowers.
HUD's basic FHA 203(b) program currently describes financing of approximately 96.5% for qualifying borrowers, which is why FHA is known as a low-down-payment program. But a buyer should never build a purchase plan from a generic percentage alone: actual eligibility depends on credit, source of funds, the property, borrower qualification, lender requirements and current FHA rules. Current percentages, mortgage-insurance amounts and loan limits change, so verify them against current HUD program information and ask your lender.
FHA is not only for first-time buyers, and it is not government money handed to the borrower. It is a privately originated mortgage insured by the Federal Housing Administration. Your lender determines FHA qualification, pricing, and approval; Lisa is a REALTOR®, not a mortgage loan officer, so she helps you evaluate properties, coordinate offers, and work through property issues rather than approving a loan.
FHA Resource Navigation
Start with the situation that matches yours. Every guide is built around the questions buyers actually ask.
I'm just learning about FHA
I'm a first-time buyer
I'm worried about mortgage insurance
I'm buying a condo
I'm buying a manufactured home
I'm buying a duplex or fourplex
The house needs work
FHA rules change. Always verify the current numbers.
Loan limits, mortgage-insurance premiums (upfront and annual) and their duration, credit-score minimums, debt-to-income limits, minimum-investment/down-payment figures, seller-contribution limits, condo approval rules and multi-unit guidelines are set by HUD and your lender, and they change. Nothing on this page is a permanent figure; when a number matters to your purchase, verify it against current official sources:
- HUD: FHA 203(b) mortgage insurance program
- HUD: upfront mortgage insurance premium
- HUD: mortgage insurance premium calculation
- FHA mortgage limits by county
- FHA INFO: single-family program updates
Your lender is the person who determines your actual qualification, pricing and approval under current FHA rules. Lisa coordinates the real estate side with that financing.
Understand the financing, then let Lisa build the search around it.
Get the financing picture clear with your lender first, then Lisa can help match properties to that financing, coordinate the offer, and work through the appraisal, inspection, condo and closing questions that come up.
Mortgage qualification, rates, loan amounts, and program eligibility are determined by your lender and current program rules, not by Lisa. Always verify current figures with an appropriately licensed mortgage professional and the applicable agency (HUD/FHA) before building a purchase plan around a number.