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Compare Current Mortgage Rates in Nevada

Nevada mortgage lenders set their own interest rates based on your credit score, down payment amount, and current economic factors.

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    Mortgage rates in Nevada can change daily or even hourly. Several reasons for this exist, including the current housing market, inflation rate, and Federal Reserve policies. However, your credit score, down payment amount, and other personal factors can also affect your interest rate.

    Your interest rate plays a vital role in determining how much your monthly mortgage payment is. It also affects your total interest charges over the life of the loan. The higher your rate is, the more the home will cost you — and vice versa.

    If you’re thinking about buying a home, here’s how Nevada mortgage rates work, what affects your potential rate, and your options for getting the best rate possible.


    How are mortgage rates determined in Nevada?

    The interest rate on a 30-year fixed-rate loan in Nevada is 7.09%. However, your rate might be lower — or higher — depending on factors within and beyond your control.

    Some of the key factors that you can’t control include:

    • Federal Reserve’s policies: The Federal Reserve sets the federal funds rate, which serves as a basis for mortgage interest rates. If the federal funds rate decreases, mortgage rates usually do, too. But the inverse is also true.
    • Inflation rate: Interest rates may rise in times of high inflation and fall during periods of low inflation.
    • Supply and demand: The current housing market also affects mortgage interest rates in Nevada. When demand for housing is high in a specific city, lenders tend to increase their rates. If there are enough homes on the market to meet the demand, rates may remain relatively stable.

    Nevada mortgage lenders also consider the following factors when setting your rate:

    • Your credit score: The better your credit score, the lower your rate.
    • Home loan type: In Nevada, there are many types of home loans available, including conventional, FHA, USDA, and VA loans. Rates can vary by loan type.
    • Down payment: If you’re applying for a home loan, you’ll typically need a down payment. For example, FHA loans require at least 3.5% down. The more you can put down, the lower your interest rate could be. A larger down payment could also reduce your monthly mortgage payment and total interest charges over time.
    • Property cost and loan amount: Interest rates may be higher on very small or very large loans.
    • Loan term: Longer-term loans, like 30-year mortgages, often come with higher rates. If you get a shorter-term loan, such as a 15-year fixed-rate mortgage, you could get a better interest rate — in some cases, up to 1% lower.
    • Rate type: Mortgages come with either a fixed or an adjustable interest rate. Fixed-rate loans stay the same over the life of the loan. Adjustable-rate mortgages (ARMs) may have an initially lower rate that changes over time.
    • Property location: Your rate could be higher if you buy a home in a place where demand or home values are higher. For example, a study from the University of Nevada, Las Vegas reported that Laughlin and Mesquite both experienced a significant rise in home prices. Boulder City, meanwhile, saw a decrease.

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    Does Nevada have a first-time homebuyer program?

    Nevada offers several first-time homebuyer programs through the State of Nevada Housing Division, including:

    • Home First: This 30-year mortgage is available to Nevada residents who’ve lived in the state for at least six months. It offers up to $15,000 in down payment assistance on homes up to $570,000. You’ll need a minimum credit score of 640. Your household must also meet income limits. The assistance is forgivable after three years.
    • Home Is Possible (HIP): This competitive 30-year fixed-rate mortgage offers up to 4% of the home’s value in a down payment or closing cost assistance. You must have a credit score of 640 or higher, depending on your debt-to-income ratio (DTI). Income limits and loan maximum limits apply.
    • Home Is Possible for Heroes: Veterans and active duty service members may qualify for a 30-year fixed-rate loan with a competitive interest rate. You don’t have to be a first-time buyer. However, you must earn no more than $95,000 a year and have a 640 credit score or higher. The maximum home price is $400,000.
    • Home Is Possible for Teachers: This program offers a low-interest mortgage loan to qualifying buyers who don’t currently own a home. It offers up to $7,500 in closing costs and down payment assistance. You’ll need a 640 or 680 credit score, depending on the home type.

    The Nevada Rural Housing Authority also offers two down payment assistance programs for first-time buyers:

    • Home Means Nevada Rural Down Payment Assistance: If you’re purchasing a home in a town with fewer than 150,000 people — like Carson City, Whitney, or Winchester — you could qualify for up to $25,000 in forgivable down payment assistance. You must not have owned a home in the past three years.
    • Home At Last Down Payment Assistance: Qualifying homebuyers in Nevada may receive money to help cover all or part of their down payment. You must earn no more than $165,000 a year. The minimum credit score requirement is 640 or 680, depending on the home type.


    National mortgage rates by loan term

    Mortgage rates drop or rise daily, reacting to changing economic conditions, central bank policy decisions, and investor sentiment. The table below shows recent trends in mortgage rates.

    ProductInterest rateAPR

    Last updated on Jun 17, 2024. These rates are based on the assumptions shown here. Actual rates may vary.

    How do I get the best mortgage rate in Nevada?

    Here are some strategies to get the best mortgage rates in Nevada:

    • Build your credit: Your credit score shows home lenders how likely you are to pay back any money you borrow. The better your credit is, the better your approval odds — and the lower your interest rate. If your score is low, focus on paying down debt and making on-time payments. Avoid applying for new forms of credit while trying to get a home loan. Also, check your credit reports and dispute any errors you might find.
    • Save a large down payment: Having a large down payment could save you tens of thousands of dollars in interest charges over the life of your loan. If you get a conventional loan, try to save at least 20% to avoid private mortgage insurance (PMI).
    • Determine your budget: Make sure you can comfortably afford your mortgage loan before you apply. Consider the interest rate, repayment term, loan amount, property taxes, and homeowners insurance. You can use a mortgage calculator to get an idea of your monthly payment.
    • Shop for lenders: Compare several lenders to find the best mortgage rate and terms. Compare lenders for loan types, interest rates, fees, reputability, and eligibility requirements.
    • Choose your loan type: Nevada lenders offer various home loans, so research your options.
    • Choose your rate type: Decide whether a fixed-rate or an adjustable-rate loan is right for you. Compare current rates and potential rate adjustments.
    • Complete the pre-approval process: Getting pre-approved can help you decide whether it’s the right time to apply for a mortgage. Once you’re pre-approved, you’ll know approximately how much you could qualify for, as well as your potential interest rate and terms.
    • Use discount points: You can purchase points during the closing process to lower your interest rate.

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    What type of mortgage can I get in Nevada?

    Mortgage rates in Nevada are largely based on the type of home loan you get. These are the main types of home loans in the state:


    • Typical eligibility: 620 minimum credit score, 43% maximum DTI, 3% minimum down payment.
    • Typical characteristics: Loan amounts range from $766,550 to $1,149,825 in most counties, 15- to 30-year repayment terms, fixed or variable interest rate, PMI required if less than 20% down.


    • Typical eligibility: No minimum down payment, no minimum credit score, the property must be located in a “rural” area, income limits may apply.
    • Typical characteristics: Fixed interest rate only, 30-year repayment term, geared toward buyers with limited savings, offered through the U.S. Department of Agriculture.


    • Typical eligibility: 500 minimum credit score, a minimum down payment of 3.5% (depending on credit), loan limits based on location, and an upfront mortgage insurance premium.
    • Typical characteristics: Fixed or variable interest rate, repayment terms range from 15 to 30 years, regulated by the Federal Housing Administration, geared toward first-time buyers.


    • Typical eligibility: No minimum down payment requirement, credit score requirements vary by lender, must meet military service eligibility requirements, no PMI required.
    • Typical characteristics: Competitive fixed or variable interest rate, repayment terms ranging from 15 to 30 years, lower closing costs, backed by the Department of Veterans Affairs.


    • Typical eligibility: May have higher down payment or credit score requirements than conventional loans, requirements vary by lender.
    • Typical characteristics: 15- to 30-year repayment term, fixed or variable interest rate, may be more expensive than other loans, geared toward more expensive homes (loan limits tend to be higher than other loans).


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