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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|
*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.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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 FHA||3.125%||3.000%||Not elegible||Not elegible|
|30-year FHA||3.500%||3.500%||Not elebigle||Not elegible|
*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:
- 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.
- 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.
- 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:
- 30.8% of home purchases in Nevada from January 2021 to April 2021 were made with all cash.
- The rate of homeownership in Nevada is 61.2% to 4.2% lower than the national average of 65.4%.
- Though property values are high, Nevada has some of the lowest property taxes in the country at a rate of 0.6%.
- 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%.
- Median home prices in Las Vegas hit $425,000 in July 2021, topping the previous record of $420,000 set in June.
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.
- Explore interest rates, Consumer Financial Protection Bureau
- Housing Data, Zillow
- Share of Homes Bought With All Cash Hits 30% for First Time Since 2014, Redfin News
- The average amount people pay in property taxes in every US state, Business Insider
- Continued Strength and Resiliency: CoreLogic Reports Home Price Growth Accelerated in June, CoreLogic
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