HELOC rates in Nevada rose from around 4.5% in 2020 to 9.6% by late 2023, slightly decreasing to 9.1% in November 2024. If this trend continues, homeowners may face higher borrowing costs, so consider locking in a rate soon.
HELOC
Best HELOC Rates in Nevada (December 2024)
Updated: December 21, 2024
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Key Takeaways
Higher loan-to-value (LTV) ratios lead to higher rates. The average APR for a HELOC in Nevada with an 80% LTV is 8.5%, compared with 9.4% for a 90% LTV.
HELOC rates vary by city in Nevada. Fallon has an average APR of 8.2%, whereas Pahrump's is 9.3%.
Different lenders offer varying rates for the same loan types. 1st United Credit Union's average APR is 6.0%, whereas Meadows Bank's is 10.5%.
Current HELOC Rates in Nevada
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HELOC Rates in Nevada by LTV Ratio
HELOC rates in Nevada depend on your loan-to-value (LTV) ratio and line limit. A lower LTV indicates more equity, reducing lender risk. For instance, with a 75% LTV, you've borrowed less against your home's value, minimizing the chance to default on your HELOC.
The table below lets you filter between different loan amounts, giving you a clearer view of your potential qualifications.
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Line Limit:$100,000
| 8.6% | 9.6% |
HELOC Rates in Nevada by City
HELOC rates in Nevada differ by city due to local housing markets and lender competition. For instance, a city with a stable real estate market might offer lower rates, reducing lender risk.
Use the table below to filter by your city and see average APRs for $50K and $100K HELOCs.
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City:Las Vegas
| $100,000 | 8.7% |
| $50,000 | 8.8% |
HELOC Rates in Nevada by Lender
HELOC interest rates in Nevada vary due to different pricing strategies and risk assessments among lenders in Nevada. The table below highlights the five lenders offering the lowest average APRs, enabling you to compare competitive rates.
| 1st United Credit Union | 6.0% |
| Plus Credit Union | 7.8% |
| Western Alliance Bank | 7.8% |
| Clark County Credit Union | 8.0% |
| Operating Engineers Local Union #3 Federal Credit Union | 8.0% |
HELOC rates today can differ between lenders within the same city. Use the table below to filter data by city and compare APRs, helping you find the best rate for your needs.
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City:Las Vegas
| Plus Credit Union | Credit Union | 7.8% |
| Western Alliance Bank | Commercial Bank | 7.8% |
| Operating Engineers Local Union #3 Federal Credit Union | Credit Union | 8.0% |
| Clark County Credit Union | Credit Union | 8.0% |
| Rize Federal Credit Union | Credit Union | 8.0% |
| Silver State Schools Credit Union | Credit Union | 8.0% |
| Valley Bank of Nevada | Commercial Bank | 8.0% |
| Mountain America Federal Credit Union | Credit Union | 8.5% |
| WestStar Credit Union | Credit Union | 8.5% |
| Aloha Pacific Federal Credit Union | Credit Union | 8.5% |
| Zions Bancorporation | Commercial Bank | 8.5% |
| InTouch Credit Union | Credit Union | 8.5% |
| BMO BANK NATIONAL ASSOCIATION | Commercial Bank | 8.9% |
| Navy Federal Credit Union | Credit Union | 9.1% |
| America First Federal Credit Union | Credit Union | 9.2% |
| City National Bank | Commercial Bank | 9.3% |
| UNIFY Financial Federal Credit Union | Credit Union | 9.4% |
| U.S. Bank National Association | Commercial Bank | 9.5% |
| Meadows Bank | Commercial Bank | 10.5% |
| Bank of America | Commercial Bank | 10.6% |
COMPARING HELOC RATES IN NEVADA: BANKS VS. CREDIT UNIONS
HELOC rates in Nevada vary between banks and credit unions. Commercial banks often have higher rates, with the best HELOC rate in Nevada for commercial banks averaging 9.1%. In comparison, credit unions offer a lower average APR of 8.5%, as they are not-for-profit institutions.
When deciding between banks and credit unions, consider more than just rates. Banks may offer more convenience, while credit unions often provide better customer service and lower fees. It's also important to check membership requirements for credit unions and be aware of any hidden fees or rate adjustment clauses with both lenders.
Ask the experts:
What are the common fees or costs associated with HELOCs that borrowers should be aware of, and how do these affect the overall cost of borrowing?
Credit & Mortgage Expert
Most banks and credit unions charge little to no fees when getting a HELOC. Typically, you will pay the cost of the appraisal — anywhere from $150 to $450 depending on the type of appraisal done. But closing costs are usually covered by the bank or credit union. This is why it’s best to shop around with at least three different lenders when applying for a HELOC to compare not only the rates but also any costs involved. Getting a rate that is 0.25% lower but having to pay a couple thousand dollars in costs may not make financial sense.
HELOC Payment Calculator
HELOCs have become a popular tool for homeowners across the U.S. looking to tap into their home's equity. Use our Nevada HELOC payment calculator to determine your monthly payments based on amount draws, loan terms, and APR. The calculator provides an amortization schedule and shows the division between principal and interest over time. This helps you manage your HELOC effectively and plan your finances better.
Nevada HELOC Payoff Calculator
This HELOC payment calculator assumes that you take out one lump sum at the start of your interest-only period. Your actual payoff schedule will vary depending on your interest rate and market conditions.
Credit Line Information
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Repayment Period Payment
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Credit Payoff Schedule for Home Equity Line
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How to Get the Best HELOC Rates in Nevada
Finding the best HELOC rates in Nevada can help you save significantly over the life of your loan. For example, securing a lower rate can reduce monthly payments, freeing up funds for other expenses. Consider these five strategies to secure the most competitive rate:
Maintain a strong credit score
The average credit score in Nevada is 702. Improving it can help secure better rates from lenders.
Compare offers from multiple lenders
Shopping around can reveal competitive rates and provide leverage to negotiate better terms.
Reduce your debt-to-income (DTI) ratio
Lower debt-to-income (DTI) ratios show stability. Paying off debt can improve your chances for a lower rate.
Increase your home equity
More equity means less risk for lenders. Paying down your mortgage or making home improvements can help.
Review closing costs and rate caps
Closing costs affect expenses. Understanding rate caps helps manage costs as rates change.
HELOC Loan Rates vs. Home Equity Loan Rates in Nevada
HELOC interest rates in Nevada average 8.7%, compared to 8.2% for home equity loans. The difference arises from HELOCs' variable rates, which can increase in rising interest rate environments.
- HELOCs are flexible credit lines with variable rates, potentially leading to increased costs over time, especially in rising interest rate environments.
- Home equity loans offer a lump sum at a fixed rate, providing stability and predictability, ideal for long-term financial planning.
Choosing between these options depends on your financial needs and risk tolerance. Consider whether you prioritize the flexibility of a HELOC or the stability of a home equity loan. Assess your ability to manage variable payments if you opt for a HELOC, and ensure you understand how borrowing against your home's equity impacts your overall financial health.
CONSIDERING A HELOC ALTERNATIVE? TRY A CASH-OUT REFINANCE
Cash-out refinance is a HELOC alternative that replaces your existing mortgage with a new, larger loan, providing access to cash. Unlike HELOCs or home equity loans, it creates a new primary mortgage.
For instance, if you have a loan backed by the Federal Housing Administration (FHA) and your home is valued at $300,000 with a $150,000 mortgage balance, an FHA cash-out refinance for $200,000 could give you $50,000 in cash, but your new loan payments will be based on $200,000.
FAQ: Best HELOC Rates in Nevada
What are the current HELOC rates in Nevada and how do they compare to national rates?
Nevada's HELOC rates average 8.7%, which is higher than the national average of 8.3%.
What fees are commonly associated with HELOCs in Nevada?
Common fees include application, appraisal, annual, and early closure fees, but specifics vary by lender.
How do HELOC rates in Nevada compare to home equity loan rates?
In Nevada, HELOC rates average 8.7%, while home equity loan rates are lower at 8.2%, even for those with bad credit.
How do HELOC Rates in Nevada vary between banks and credit unions?
Commercial banks in Nevada offer HELOC rates averaging 9.1%, while credit unions offer lower rates at 8.5%.
What's the best HELOC rate in Las Vegas? How does it compare to the current HELOC rate in Nevada?
Las Vegas's rates average 8.7%, which aligns with the overall Nevada average.
MoneyGeek examined 28 different banks and credit unions in Nevada using S&P Global's SNL Depository Rates dataset to stay current on the latest home equity line of credit rates.
This data is accurate as of December 13, 2024.
28Lenders Analyzed
About Zachary Romeo, CBCA
Zachary Romeo is a certified Commercial Banking and Credit Analyst (CBCA), and the Head of Loans and Banking at MoneyGeek. Previously, he led production teams for some of the largest online informational resources in higher education, with over 13 years of experience in editorial production.
Romeo has a bachelor's degree in biological engineering from Cornell University. He geeks out on minimizing personal debt and helping others do the same through people-first content.