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Nevada Mortgage Calculator

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Overview of Nevada Housing Market

Nevada’s median home values and prices are slightly above national averages. The state also has low property tax rates.

Today's Mortgage Rates in Nevada

Product Today Last Week Change
30 year fixed 7.13% 7.13% 0.00
15 year fixed 6.50% 6.50% 0.00
5/1 ARM 6.13% 6.13% 0.00
30 yr fixed mtg refi 5.88% 6.13% -0.25
15 yr fixed mtg refi 5.38% 5.63% -0.25
7/1 ARM refi 6.13% 5.44% +0.69
15 yr jumbo fixed mtg refi 3.17% 3.21% -0.04

National Mortgage Rates

Source: Freddie Mac Primary Mortgage Market Survey, SmartAsset Research

Enter your details below to estimate your monthly mortgage payment with taxes, fees and insurance.

Not sure how much you can afford? Try our home affordability calculator.

Total Monthly Payment

Monthly Payment
Over Time

Total Monthly Payment Breakdown

Based on a $350,000 mortgage

Taxes &
Other Fees
Payment (P&I)
Mortgage Payment (P&I)
Home Insurance
Homeowners Insurance
Mortgage Insurance (PMI)
Taxes & Other Fees
Property Taxes
HOA/Condo Fees
Total Monthly Payment

Mortgage Over Time

Based on a $350,000 mortgage

Remaining Mortgage Balance
Principal Paid
Interest Paid
Year 1

Enter your details below to estimate your monthly mortgage payment with taxes, fees and insurance.

Not sure how much you can afford? Try our home affordability calculator.

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Home Price
Down Payment
Mortgage Interest Rate
Loan Type

Tax, Insurance & HOA Fees

Annual Property Tax
Annual Homeowners Insurance
Monthly HOA/Condo Fees

Other Financial Considerations

In addition to making your monthly payments, there are other financial considerations that you should keep in mind, particularly upfront costs and recommended income to safely afford your new home.

Recommended Minimum Savings

Show Breakdown
Minimum Down Payment
Closing Costs
Estimated Cash Needed to Close
Recommended Cash Reserve
Total Recommended Savings

Recommended Minimum Income

Show Explanation

This is based on our recommendation that your total monthly spend for your monthly payment and other debts should not exceed 36% of your monthly income.

Housing Payment
Other Monthly Debt Payments

Compare Loan Types

The most common loan terms are 30-year fixed-rate mortgages and 15-year fixed-rate mortgages. Depending on your financial situation, one term may be better for you than the other.

With a 30-year fixed-rate mortgage, you have a lower monthly payment but you’ll pay more in interest over time. A 15-year fixed-rate mortgage has a higher monthly payment (because you’re paying off the loan over 15 years instead of 30 years), but you can save thousands in interest over the life of the loan.

Loan Term 30 Year Fixed 15 Year Fixed
Monthly Payment $1,111 $1,111
Mortgage Rate 1.11% 1.11%
Total Interest Paid $1,111 $1,111
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How We Got This Answer

  • About This Answer

    This calculator determines how much your monthly payment will be for your mortgage.

    We take your inputs for home price, mortgage rate, loan term and downpayment and calculate the monthly payments you can expect to make towards principal and interest.

    We also add in the cost of property taxes, mortgage insurance and homeowners fees using loan limits and figures based on your location. You can also manually edit any of these fees in the tax insurance & HOA Fees section of this page.

    We also calculate the way that your mortgage balance changes over time as you make payments towards principal and interest. These figures do not include the payments made to taxes or other fees.

    Have additional questions about this calculator? Feel free to email our expert at! more
  • Our Assumptions

    In order to create the best comparison with your finances in 2022 this calculator does not account for home value appreciation or inflation. more
  • Our Home Buying Expert

    Michelle Lerner Home Buying

    As SmartAsset’s home buying expert, award-winning writer Michele Lerner brings more than two decades of experience in real estate. Michele is the author of two books about home buying: “HOMEBUYING: Tough Times, First Time, Any Time,” published by Capitol Books, and “New Home 101: Your Guide to Buying and Building a New Home.” Michele’s work has appeared in The Washington Post,, MSN and National Real Estate Investor magazine. She is passionate about helping buyers through the process of becoming homeowners. The National Association of Real Estate Editors (NAREE) honored Michele in 2016 and 2017 with the award for Best Mortgage or Financial Real Estate Story in a Daily Newspaper. more
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Factors in Your Nevada Mortgage Payment

Your monthly mortgage bill includes your principal and interest payments, and can include payments to your escrow account. An escrow account holds your money for property taxes and homeowners insurance, two costs that stay with you as long as you own a home.

If you’re planning on buying in Nevada, you’ll be happy to hear that property taxes in Nevada are relatively low. The average effective property tax rate is 0.53%. To determine the market value as well as the replacement cost of any structures on your property, a county assessor will appraise your home every five years. The assessed value is 35% of the taxable value, which means tax rates apply to just a small portion of your home value. Taxes go to school districts, county costs such as infrastructure maintenance and improvements, as well as other community needs.

Along with cheap property taxes, Nevada has some of the lowest homeowners insurance. In our Most Affordable Places to Live study, we found that the average annual insurance policy was $803. Nevada has less risk as it’s not situated on a coastline or hurricane path. However, the state is prone to wildfires. According to the Insurance Information Institute, Nevada ranks 12th among state that have the highest risk of extreme wildfires. While you might not think you’re at risk of flooding, it’s something to keep in mind if you’re in an area that experiences flash floods. Homeowners insurance doesn’t cover flood damage, so if you want coverage you’ll have to get a policy through the National Flood Insurance Plan.

A financial advisor in Nevada can help you understand how homeownership fits into your overall financial goals. Financial advisors can also help with investing and financial planning - including retirement, taxes, insurance and more - to make sure you are preparing for the future.

Costs to Expect When Buying a Home in Nevada

One of the first times you’ll open your wallet during the home-buying process is when you pay your home inspector. When you make an offer on a house, you usually have a time period to complete any home inspections you’d like before continuing with the contract. It’s your chance to get an inside look at the condition of the home.

Most Nevada home inspections cost between $250 and $500. The pricing is generally based on square footage and number of outbuildings. A regular home inspection covers most structural and easily observable components, such as roofs, basements, plumbing and electrical, but doesn’t include specialty tests. If you’d like a mold, radon or water quality test, you can generally add those inspections on for an additional cost.

After the home inspection, you’ll usually move forward with the offer and your mortgage lender. Prepare to open your wallet again. This time, you’ll be paying a number of fees to various entities. These charges are collectively known as closing costs. Nevada closing costs are on average 1.63% of a home's value.

Average Closing Costs by County

CountyAvg. Closing CostsMedian Home ValueClosing Costs as % of Home Value
Carson City$5,565$273,8002.03%
White Pine$4,340$154,1002.82%

Our Closing Costs study assumed a 30-year fixed-rate mortgage with a 20% down payment on each county’s median home value. We considered all applicable closing costs, including the mortgage tax, transfer tax and both fixed and variable fees. Once we calculated the typical closing costs in each county we divided that figure by the county’s median home value to find the closing costs as a percentage of home value figure. Sources include the U.S. Census Bureau, Bankrate and government websites.

Breaking down what you’ll pay for closing costs starts with what you owe your mortgage lender. Generally known as origination fees, these costs can include services such as document preparation, tax service, loan processing, underwriting, commitment fees and more. This is one of the flexible areas for costs. You’ll find that some lenders charge for certain mortgage services while others don’t, which can be an incentive to shop around before deciding on a lender. After all, it’s your money.

The next batch of charges are considered third-party fees and include paying for an attorney’s services, appraisals, flood certification, surveys and credit reports. This is completely dependent on your particular home-buying process. Some buyers don’t use an attorney, while others opt to consult several: it all depends on your particular transaction.

Another cost you’ll come across is title insurance. Your lender usually requires this type of insurance that protects its interest in the loan in the case of a title defect and is known as a loan policy. However, that’s not all: You can purchase a separate owner’s policy to protect the full value of the home. This is a one-time charge that can help pay for legal fees in the event that an undisclosed or unknown title defect becomes known while you own the home. For more detailed information, refer to the Consumer’s Guide to Title Insurance issued by the Nevada Division of Insurance.

Nevada charges a state transfer tax, and its counties charge an additional tax called the real property transfer tax. According to Nevada law, the buyer and seller are jointly responsible for the payment of the tax, so it will probably be worked out during negotiations who will pay what. The combined charge is $1.95 for each $500 of value if the value is more than 100. Homes in Clark County have an additional $0.60 added, while Washoe and Churchill counties add $0.10 each.

Details of Nevada Housing Market

Nevada, known not only for Las Vegas, but also for its gold and silver mines, ranks 32nd for population with 3.1 million residents, according to estimates by the Census Bureau.

Despite its size, Nevada still has a number of urban areas. Nevada’s largest cities include Las Vegas, Henderson (a suburb of Las Vegas), Reno, the unincorporated town of Paradise, which is another Las Vegas suburb and the city of North Las Vegas. Carson City, 431 miles northwest of Las Vegas, is the state capital, yet it only has 58,639 residents. Close to 80% of Nevada’s population resides in the 10 most populous cities, with very few residents living outside of urban areas.

The Silver State has the largest amount of land owned by the Bureau of Land Management. In fact, more than half of Nevada’s land is owned by the federal government. Much of the state is an arid desert, which also contributes to why land ownership has stayed heavily with the government, rather than been passed down to farmers, which is the usual progression.

In regards to Nevada’s housing market, the state had the highest foreclosure rate from 2007 to 2012, according to RealtyTrac data. The state was hit hard by the recession and the foreclosure numbers prove how devastated the damage the housing market suffered. In the last few years, foreclosure rates were still high, but Nevada lost its top billing to New Jersey, another state that suffered badly post-recession.

In SmartAsset’s most recent Healthiest Housing Markets study, Nevada did not crack the top 10. While it ranked near the bottom for stability factors, it made up with days on market and affordability – two of the four factors we looked at for the study.

The state’s median home value is $. In Las Vegas, the median home value is $258,600, while in Carson City, the median home value is $273,800. Reno is even higher with a median home value of $335,000.

Local Economic Factors in Nevada

Nevada has several companies on the 2020 Fortune 500 list. Most of these are in the tourism industry, highlighting Nevada’s dependence on tourism. The top employers in the state, according to the State of Nevada Department of Employment, Training and Rehabilitation, are the Nevada government (including school districts), Wynn Resorts, Bellagio, MGM and Aria Resort. Along with tourism, Nevada’s top industries include mining, aerospace and defense.

The per capita personal income (PCPI) which helps indicate the economic quality of life, was $53,720 for Nevadans in 2019. That places Nevada behind the national average of $59,510, according to the Bureau of Economic Analysis. Data from the Bureau of Labor Statistics shows that unemployment in Nevada was 6.4% in December 2021, above the national average of 3.9%.

Nevada is one of only eight states that have no income tax. That means you’ll only pay federal income taxes on your earnings. You won’t escape sales tax, however. Nevada’s state sales tax is one of the highest in the U.S. at 6.85%, with an additional percentage added for local sales tax rates. The good news is that Nevada doesn’t have an estate or inheritance tax, which are taxes you’ll find common in the Northeast and other states.

Ready to move to the Silver State? Get prepared ahead of time by comparing your cost of living. For instance, moving from San Diego, California to Las Vegas, Nevada would result in a 13% decrease in cost of living, on average, for a single tax filer making $55,000 a year. A move from Denver, Colorado to Reno, Nevada equals a 6% lower average cost of living due to cheaper taxes, housing and food. And if you moved from Seattle, Washington to Carson City, Nevada, you could see an 8% average decrease in cost of living due to lower housing and food costs.

Mortgage Legal Issues in Nevada

Nevada has certain protections in place for homebuyers, including the most common: mandatory sellers’ disclosures. Like a large number of states, Nevada requires homeowners to disclose certain property conditions and factors (such as material defects) so that the buyer is aware prior to closing on a home loan or occupying the property. The Nevada Real Estate Division publishes the five-page Nevada seller’s disclosure form, which you can read over to see what it covers.

Turning to foreclosure, you might already know that Nevada was one of the top states for foreclosure rates during the recession. Fortunately, the state has started to recover and it’s not a prevalent as it was at the height of the financial crisis.

If you’re curious how the process works, in Nevada lenders can foreclose either judicially (through the court system) or non-judicially. While both option exist, non-judicial foreclosures are far more common. This means that your mortgage documents included a deed of trust and a power of sale clause. Power of sale allows your lender to appoint a trustee to sell your home at a foreclosure sale. It’s usually a quicker process than a judicial foreclosure. The minimum number days to foreclose in Nevada is 111 days from the date of the Notice of Default. You’ll receive a Notice of Default from your lender when you miss your monthly mortgage payments.

There are chances for mediation during the foreclosure process, so if you’ve received a notice, it’s important to contact foreclosure counselors and/or legal support. If no mediation or loan repayment plan is agreed upon, your home will be sold at a Trustee’s sale. Nevada allows deficiency judgements, which is when a lender files a lawsuit to recover the difference between the foreclosure sale price and the total debt.

Nevada Mortgage Resources

Available Resources

ResourceProblem or IssueWho Qualifies
Nevada Hardest Hit FundOffers funding to reduce principal and second mortgage payments, plus mortgage assistance.At-risk homeowners who are facing foreclosure.
Nevada Homeowner Relief ProgramHelps to pair first-time homebuyers and potential homeowners with the programs that will suit them the best.Available for homeowners seeking loan modification, borrowers who are current but underwater, those who have lost their homes to foreclosure and households working toward homeownership.
USDA Rural Development - Single family loansOffers payment assistance to increase an applicant’s repayment ability.Applicants must be without decent, safe and sanitary housing; Be unable to obtain a loan from other resources on terms and conditions that can reasonably be expected to meet; Agree to occupy the property as your primary residence; Have the legal capacity to incur a loan obligation; Meet citizenship or eligible noncitizen requirements; Not be suspended or debarred from participation in federal programs.

Nevada was one of the states that was hardest hit by the recession. Therefore, the state has set up a number of resources to help, such as Home Again and the Nevada Hardest Hit Fund. If you’re on the other end of the scale and need help as a first-time homebuyer, you can find that as well. Home Again Nevada has resources for down payment assistance.

Another avenue to explore is a home loan through the USDA. If the home you’re interested in is located in an eligible area and you meet income qualifications, you can apply for this government-backed mortgage.

Maybe you’re thinking of buying a retirement home in this southwestern state. Take a look at Nevada’s retirement tax-friendliness to see if it’s the right state for your golden years. Or, if you’re transferring jobs, you can use the Nevada paycheck calculator to get an idea of how your finances will look.