No, you do not need 20% down to buy a home in Las Vegas, and the typical first-time buyer puts down about half that. What the number does change is your monthly payment and whether you pay mortgage insurance, so it helps to know which side of 20% you plan to land on.
Where the 20% idea comes from
Twenty percent is a lender benchmark on conventional loans, not a requirement to get a mortgage. Put down less and you can still buy, but you will usually pay mortgage insurance until you build enough equity.
Exactly how that works on your loan is a question for your lender.
What buyers actually put down
The National Association of Realtors 2025 Profile of Home Buyers and Sellers (November 2025) reports these median down payments:
- First-time buyers: 10%
- All buyers: 19%
- Repeat buyers: 23%
Those are national numbers, not a Las Vegas survey. Repeat buyers run higher because many are putting in equity from a home they just sold.
What that looks like on a Las Vegas price
The median existing single-family home in Southern Nevada sold for $475,000 in August 2026, according to Las Vegas REALTORS as reported by Fox5 Vegas. On that price, the down payment works out like this:
- 3% down: $14,250
- 10% down: $47,500
- 19% down: $90,250
- 20% down: $95,000
That is straight arithmetic, not a loan quote. Closing costs come on top of it.
What a smaller down payment changes
- A bigger loan, so a higher monthly payment
- Mortgage insurance on many conventional loans, which can come off once you have built enough equity
- More cash left over for reserves, moving, and the repairs every home wants in the first year
- Less equity on day one, which matters if you sell early
Where the money can come from
Savings are the most common source, but not the only one. Gifts from family can cover part of it on many loans, and Nevada’s Home Is Possible program offers up to 5% of the loan amount toward a down payment or closing costs, according to the Nevada Housing Division.
Both come with rules and limits, so a lender should confirm what applies to you.
Simple summary
You do not need 20% down. Half of first-time buyers put down 10% or less, by NAR’s 2025 numbers, and the real choice is a tradeoff between your monthly payment, mortgage insurance, and how much cash you keep. A lender can show you the actual payment at each level.
If you want a custom list of homes in Las Vegas that match what you are looking for, you can request one here: Get Your Customized List of Homes