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Nevada Mortgage Rates

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Use SmartAsset's mortgage comparison tool to compare mortgage rates from the top banks and find the one that best suits your needs.

Overview of Nevada Mortgages

Nevada is a diverse state with one of the fastest-growing populations in the country. If you decide to buy property in the Silver State, you can expect mortgage rates to hover a little above the national average. Nevada counties' conforming loan limits remain standard, but the FHA limits have more variation.

Today's Mortgage Rates in Nevada

Product Today Last Week Change
30 year fixed 4.75% 4.61% +0.14
15 year fixed 4.25% 4.18% +0.07
5/1 ARM 4.21% 4.20% +0.01
30 yr fixed mtg refi 4.55% 4.61% -0.06
15 yr fixed mtg refi 4.09% 4.18% -0.09
7/1 ARM refi 4.38% 4.34% +0.04
15 yr jumbo fixed mtg refi 4.34% 4.24% +0.10

National Mortgage Rates

Source: Freddie Mac Primary Mortgage Market Survey, SmartAsset Research
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Nevada Mortgage Rates Quick Facts
  • Median Home Value: $273,800 (Zillow)
  • Loan Funding Rate: 63.4% (CFPB)
  • Average Mortgage Rate: 4.06% (Freddie Mac)
  • Homeownership Rate: 58.5% (St. Louis Fed)
  • Median Monthly Homeownership Costs: $1,417 (U.S. Census Bureau)

Historical Mortgage Rates in Nevada

Nevada is famous for bright Las Vegas lights surrounded by vast desert, but there are plenty of other beautiful parts of the state to call your own backyard. The vast majority of Nevada’s population call Clark County home. Historically, Nevada rates have been a bit higher than the national average rates.

Nevada Historic Mortgage Rates

YearNevada RateU.S. Rate
198214.6114.73
198312.2912.26
198412.3411.99
198511.2311.17
19869.969.79
19879.168.95
19888.888.98
19899.839.81
19909.939.74
19919.229.07
19928.107.83
19937.106.93
19947.147.31
19957.287.69
19967.527.58
19977.607.52
19987.046.97
19997.257.14
20007.997.86
20016.986.94
20026.446.44
20035.745.67
20045.665.68
20055.825.85
20066.566.54
20076.516.42
20086.096.06
20095.195.05
20104.934.81
20114.754.56
20123.903.65
20133.973.84
20144.324.13
20154.003.88
20163.833.73

Nevada Mortgages Overview

Nevada’s median home prices are generally higher than the median home prices for the U.S., according to Zillow data. That means you can expect to have higher monthly mortgage payments if you move here from a place with lower priced homes.

All 17 counties in the state have a standard conforming loan limit of $453,100, but the FHA limits vary. The highest FHA loan limit in the state is Douglas County at $362,250. Three additional counties (Storey, Washoe and Carson City) have limits that are higher than the average $294,515.

Conforming and FHA Loan Limits by County

CountyConforming LimitFHA Limit
Churchill$453,100$294,515
Clark$453,100$294,515
Douglas$453,100$362,250
Elko$453,100$294,515
Esmeralda$453,100$294,515
Eureka$453,100$294,515
Humboldt$453,100$294,515
Lander$453,100$294,515
Lincoln$453,100$294,515
Lyon$453,100$294,515
Mineral$453,100$294,515
Nye$453,100$294,515
Pershing$453,100$294,515
Storey$453,100$370,300
Washoe$453,100$370,300
White Pine$453,100$294,515
Carson City$453,100$299,000

Nevada issues deeds of trust, a type of loan document popular in Western states that’s similar to a mortgage but with different laws and practices attached to it. The biggest difference is that a lender does not need to go to court in order to auction off the home. Instead the lender can initiate a "power of sale" foreclosure by hiring a third party to sell the home it wants to foreclose.

Nevada has some of the toughest real estate disclosure laws, meaning sellers must disclose what defects they know about the property. This obviously favors buyers, but you should still always get a home inspection before officially signing on a property so you can feel secure at closing.

30-Year Fixed Mortgage Rates in Nevada

If you’re planning to buy in Nevada, the most common type of home loan is a 30-year fixed-rate mortgage. This option gives you plenty of time to pay back the loan and your interest rate remains the same for the duration of the loan’s life, unless you refinance. You can also consider a 15-year fixed-rate mortgage. It allows you to pay off your loan quicker and comes with a lower interest rate, but your monthly payments will be higher.

The average Nevada mortgage rate for fixed-rate 30-year mortgages is 4.11%.

Nevada Jumbo Loan Rates

Nevada homes hit right about average with the rest of the country, so the jumbo loan limit holds steady at $453,100 in every county. If your dream home requires you to take out a loan that is larger than $453,100, you will have what is considered a nonconforming or jumbo loan. A conforming loan is one that is $453,100 or less and it comes with a normal interest rate and can be re-sold on the secondary mortgage market.

Jumbo loans present more of a risk to lenders because more money is on the line. If you’re thinking about a jumbo loan for your mortgage, you should know that they are accompanied by higher interest rates to offset that increased risk on the part of the lender.

The average jumbo loan rate in Nevada is 4.49%.

Nevada ARM Loan Rates

An adjustable-rate mortgage (ARM) is one which has an interest rate that changes over time. Typically a lower interest rate is offered for a period of one, three, five, seven or 10 years. When that initial period comes to an end, the interest rate "adjusts", once a year. In general, the rate usually increases. The terms of an ARM will lay out how many times it can change and the highest possible rate that it can jump to. This interest rate cap protects the homeowner from a huge increase. Before deciding on an ARM, it is important to determine if the highest potential rate is one that you would feel comfortable paying.

The average rate for an ARM in Nevada is 4.00%.

Nevada Mortgage Resources

If you need assistance buying a home in the Silver State, here are some of the options that can help you achieve homeownership.

The Nevada Home Retention Program stemmed from the 2013 national mortgage settlement that awarded the state with $57 million. This program allocates a portion of those funds to help homeowners at risk of losing their homes. This program works to stabilize homeownership in Nevada neighborhoods by helping homeowners build equity.

Unfortunately, Nevada has one of the highest foreclosure rates in the nation. That is why it was one of the first states to receive funding from the U.S. “Hardest Hit Fund.” Its programs include principal and second mortgage reduction and mortgage assistance for homeowners who qualify.

The Home Again Nevada Homeowner Relief Program is a resource that combines options for Nevada homeowners and helps them determine what state or federal assistance may be available to them. The program helps pair Nevada residents with programs for loan modification, borrowers who are underwater but current, those who have lost homes to foreclosure and people hoping to purchase a home.

Available Resources

Resource Problem or Issue Who Qualifies Website
Homes Mean Nevada Distressed homeowners behind in mortgage payments. Families and individuals at risk of losing their home. http://homemeansnevada.nv.gov/
Nevada Hardest Hit Fund Offers funding to reduce principal and second mortgage payments, plus mortgage assistance. At-risk homeowners who are facing foreclosure. https://nahac.org/
Nevada Homeowner Relief Program Helps 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. http://www.homeagainnevada.gov/
USDA Rural Development - Single family loans Offers 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. http://www.rd.usda.gov/programs-services/all-programs/single-family-housing-programs
Home Affordable Refinance Program Refinancing. Single family homes and condos that fit within lending loan limits. http://www.harp.gov/

The United States Department of Agriculture Rural Development program also offers loan help and mortgage grants in the state. The program helps residents in rural areas obtain safe, affordable housing. Nevada has grants and loans available for home repairs as well as loan assistance programs for those who qualify.

Nevada Mortgage Taxes

Nevada, like most other states, charges taxes on real estate property title transfers. The state real estate transfer tax for Nevada is $0.65/$500 or 0.13% in counties with populations up to 700,000. In counties above 700,000 in population, that rate is $1.25/$500 or 0.25%. Counties may impose an additional $0.10/$500, and county tax regardless of size is $1.30/$500. In Nevada, the seller typically pays this fee. You’ll want to discuss this tax with your lawyer or accountant before buying or selling.

Homeowners are allowed to deduct the mortgage interest they pay throughout the year when they file their federal income taxes. In some states, homeowners can also deduct their mortgage interest payments from their taxable income on their state taxes as well. However, Nevada is one of the few states in the nation that does not charge an income tax. Therefore, the double deduction system does not apply here.

Nevada Mortgage Refinance

Need to refinance your Nevada home? One of your options is the Home Affordable Refinance Program of Nevada. This program accepts single family homes and condos for refinance assistance. It can also grant eligible homeowners access to interest and principal payment reductions and low closing costs.

You can also work with the Nevada Home Retention Program, which helps refinance at-risk homes.

Best Places To Get A Mortgage

SmartAsset’s interactive mortgage map highlights the best counties in the country (and in each state) for securing a mortgage. Hover over counties and states to see data points for each region, or use the map’s tabs to view the top counties for each of the factors driving our analysis.

Worst
Better
Rank County Loan Funding Rate 5 Year Borrowing Costs Property Tax Annual Mortgage Payment

Methodology For many people buying a house means securing a mortgage. To determine the best places in the country to get a mortgage we looked at four factors: overall borrowing costs, ease of securing a mortgage, cheap property taxes and cheap annual mortgage payments.

To calculate the overall borrowing costs, we looked at the expected costs over the first five years of a $200,000 mortgage with a 20% down payment, including closing costs. We calculated the ease of getting a mortgage as the ratio of mortgage applications to actual mortgage originations (secured mortgages) in each county. We based annual mortgage payments on the annual principal and interest payments for a $200,000 loan in that location, using average mortgage rates in each county.

Finally, we ranked locations based on these four factors, and then averaged those rankings, giving equal weight to each factor. The areas with the lowest average rankings are the best places to get a mortgage.

Sources: Mortgage Bankers Association, US Census Bureau 2016 5-Year American Community Survey, Informa, Bankrate, government websites, SmartAsset