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Mortgage rates in Nevada

Rates historically trend above the national average.

Updated

Fact checked

Mortgage rates during the coronavirus

As mortgage rates fall to record lows in the wake of COVID-19, our partners are seeing an increase in demand for loans and refinancing. As they work through this influx of applications, you may see rates that are higher than expected — or no rates at all. We recommend comparing offers from multiple lenders to ensure you're getting the best deal possible.

Compare mortgage lenders in Nevada

Rates for 30-year mortgages in Nevada average 4.843% and are expected to remain above 4% going into 2020.

Compare more mortgage lenders

Name Product Loan products offered State availability Min. credit score
Better.com
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
620
Online preapproval in minutes and no origination fees with this direct lender.
Axos Bank
Conventional, Jumbo, FHA, VA, Home Equity/HELOC, Refinance
Available in all states
620
Purchase, refinance, and home equity options available with lender fees as low as $0 (restrictions apply).
LoanDepot
Conventional, Jumbo, FHA, VA, Home Equity, Refinance
Available in all states
620
Access a wide range of mortgage and home equity options in person or online with this direct lender.
LendingTree
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
620
Connect with vetted home loan lenders quickly through this online marketplace.
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How much do mortgage rates vary in Nevada?

Rates for the average 30-year fixed-rate mortgage in Nevada ranged from 4.638% to 5.027% in 2018. The type of loan, your creditworthiness and other factors go into determining the interest rate you’re ultimately approved for. Many Nevadans opt for conventional loans, which come with higher rates than government-backed loans but also more flexible borrower and property requirements.

2018 average rates in Nevada by loan

Loan type 15-year average rate 30-year average rate
Conventional 4.282% 5.027%
FHA 4.125% 4.959%
VA 3.936% 4.638%
USDA Not available 4.749%

Based on data from ffiec.cfpb.gov

Even a small difference in your mortgage rate can affect how much you pay monthly and the total interest you pay over the life of your loan.

Suppose you borrow $255,000 with a 30-year conventional loan at an interest rate of 5.027%. That loan might run you $1,370 a month plus fees or costs specific to your mortgage. If you qualified for a VA loan with a rate of 4.638%, your monthly payments might come in at around $1,310.

Even though the monthly payment is only a difference of about $60, you could save nearly $21,620 in interest before paying off your loan.

Mortgage rates in the Silver State should hang above the 4% mark in 2020.

Mortgage rates in Nevada are historically above the national average — about 0.13% higher since 2006. Bankrate chief financial analyst Greg McBride predicts that US mortgage rates will remain stable at around 4%. At the same time, US housing authorities expect rates to average slightly below the 4% mark.

Compare mortgage rates throughout Nevada

We crunched the numbers from the Home Mortgage Disclosure Act to see what you might pay for the average 30-year fixed-rate mortgage in metropolitan areas in Nevada. These projections don’t account for costs or fees specific to your loan program.

Metropolitan statistical area Average mortgage rate Median loan amount Estimated monthly cost
Carson City 4.969% $255,000 $1,360
Las Vegas-Henderson-Paradise 4.963% $255,000 $1,360
Reno 4.919% $295,000 $1,570

Based on data from ffiec.cfpb.gov

How to get the best mortgage rate in Nevada

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. You can expect to see closing costs that run about 1.33% to 1.78% of a home’s purchase price n Nevada. Weigh closing costs against your loan’s rate when shopping around to make an informed decision.

Historical mortgage interest rates in Nevada

Bottom line

Average mortgage rates in Nevada are above the national average and expected to stay above the 4% mark in 2020. To make sure you get the best rate you and your new home qualify for, compare a range of loans and lenders.

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