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Mortgage rates in Nevada

Interest rates on a 30-year $300,000 conventional mortgage start at around 3.500%

If you have a credit score between 700 and 719 and can put 5% down, you’ll generally pay about 3.625% for a 30-year conventional loan with a fixed interest rate on a $350,000 home. But how much interest you pay for your Nevada home will depend on several factors, including your credit score, loan amount and lender.

Rates were last checked on January 10 and are from the Consumer Financial Protection Bureau (CFPB) website.

Your credit score affects the rate you’ll get

People with higher credit scores generally get lower interest rates because lenders assume they’re less likely to stop paying a mortgage. Here are the most common interest rates in Nevada by mortgage amount, according to the Consumer Financial Protection Bureau (CFPB).

Credit score $200,000 mortgage $300,000 mortgage $400,000 mortgage $500,000 mortgage
620-639 4.250% 4.250% 4.250% 4.188%
640-659 4.125% 4.125% 4.063% 4.063%
660-679 4.000% 4.000% 4.000% 4.000%
680-699 3.750% 3.750% 3.750% 3.750%
700-719 3.750% 3.625% 3.625% 3.625%
720-739 3.625% 3.625% 3.500% 3.500%
740-759 3.563% 3.500% 3.500% 3.500%
760-779 3.563% 3.500% 3.500% 3.500%
780-799 3.563% 3.500% 3.500% 3.500%
800+ 3.563% 3.500% 3.500% 3.500%

*Based on a 10% down payment for a 30-year fixed-rate conventional mortgage

Interest rates vary by lender

Interest rates are affected by the economy and the federal funds rate, or the rate that banks charge each other for overnight loans. But they’re also affected by individual lenders, which can have differing overhead costs, profit margins and credit score requirements.

Comparing lenders can help you find the best deal. Select See rates to provide the company with basic property and financial details for personalized rates.

Name Product Loan products offered State availability Min. credit score
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
Streamline your mortgage from quote to final payment — all from your computer or phone.
(NMLS #1168)
Conventional, Jumbo, FHA, VA, USDA, Refinance
Not available in: NY
Great customer reviews and customized rate quotes in three minutes with no SSN needed.
Veterans United
(NMLS #1907)
Veterans United
Conventional, FHA, VA, USDA, Jumbo, Refinance
Available in all states
Veterans United stands out from other lenders for its focus on serving the military community.
(NMLS #330511)
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
Online preapproval in minutes and no origination fees with this direct lender.

Compare up to 4 providers

Interest rates also vary by loan type

The type of loan you get can also affect how much you pay for your Nevada home. 15-year mortgages generally offer lower interest rates than 30-year mortgages, and you’ll see different rates for conventional loans than government loans.

Loan type $200,000 mortgage $300,000 mortgage $400,000 mortgage $500,000 mortgage
15-year conventional 2.750% 2.625% 2.625% 2.625%
30-year conventional 3.750% 3.625% 3.625% 3.625%
15-year FHA 3.125% 3.000% Not elegible Not elegible
30-year FHA 3.500% 3.500% Not elebigle Not elegible
15-year VA 3.250% 3.125% 3.000% 3.000%
30-year VA 3.625% 3.625% 3.625% 3.500%

*Based on a 10% down payment, fixed interest rate and 710 credit score

Research ahead of time to get the best rates

Follow three key steps to qualifying for a better rate on — and better prepare for — your next mortgage:

  1. Compare loan programs. Lenders typically offer different loan programs with varying rates and eligibility. Research each product to learn whether you can qualify for a government-backed loan.
  2. Become a credit superstar. Take time to pay down outstanding debt for the chance to bump up your credit score. Lenders offer lower rates to borrowers with strong credit.
  3. Account for closing costs. Some lenders advertise lower mortgage rates while upping their closing costs. Expect to see closing costs about 1.33% to 1.78% of a home’s purchase price in Nevada. Weigh closing costs against your loan’s rate when shopping around to make an informed decision.

Home values in Nevada are forecast to increase

Homeowners in Nevada have seen a 176.69% increase in home values since January 2012, when the typical value of a home was roughly $133,000. As of July 2021, the typical value of a home in Nevada was $378,000.

Homes in the Silver State have seen an 18.4% increase in value in the past year alone. And according to Zillow, the market doesn’t show any signs of bucking this trend over the next 12 months.

Home values are expected to rise all across the state, with Las Vegas and Gardnerville Ranchos seeing the biggest growth at 19.5% and 19%, respectively. The small city of Ely, home of former first lady Patricia Nixon, is expected to see the slowest growth at 2.9%.

5 fast facts about the Nevada housing market

If you’re planning to buy or sell a home in Nevada, take these facts into consideration:

  1. 30.8% of home purchases in Nevada from January 2021 to April 2021 were made with all cash.
  2. The rate of homeownership in Nevada is 61.2% to 4.2% lower than the national average of 65.4%.
  3. Though property values are high, Nevada has some of the lowest property taxes in the country at a rate of 0.6%.
  4. Las Vegas, deemed one of a handful of metro areas at the greatest risk of a decline in home prices by August 2021, has instead grown by 17.5%.
  5. Median home prices in Las Vegas hit $425,000 in July 2021, topping the previous record of $420,000 set in June.

Bottom line

Mortgage rates in Nevada vary by loan type, and factors like your credit score and lender affect what rate you get. But factors like your credit score and lender affect what rate you get. Compare mortgage lenders and programs to find one that best fits your homeownership goals.

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