Updated: November 13, 2024
Advertising & Editorial Disclosure
Today's 30-year mortgage rate in Nevada is at an average of 6.77%, lower than the national average of 7.15%. Nevada's mortgage programs, such as Home is Possible for First-Time Homebuyers and Home is Possible for Teachers, can help lower homebuyers' expenses.
MoneyGeek uses publicly available data from Zillow for the rates on this page. Mortgage rates shift daily, and we take a snapshot of rates to analyze rate information for Nevada. We update the data frequently to ensure you have access to the most recent rates, but the values may differ slightly between reporting sources. Unless specifically noted otherwise, rates featured in the content are annual percentage rates (APRs).
This data was last updated on November 2024.
As of November 2024, the average APR for a 30-year fixed mortgage in Nevada is 6.77%, up from 6.1% last month. On a $250,000 loan with a 20% down payment, this rate increase could lead to an additional cost of $35,307 over the life of the loan, not including property taxes or HOA fees.
Rates fluctuate due to changes in the economy and Federal Reserve policies. The line chart below shows how these rates have trended over the past several months.
Even small changes in mortgage rates can significantly impact your finances. Understanding Nevada's current mortgage rates can help you create a realistic budget.
Both first-time homebuyers and seasoned investors benefit from understanding today's mortgage interest rates in Nevada:
First-time homebuyers
Knowing current mortgage rates helps Nevada's first-time homebuyers gauge the market and assess the competitiveness of offered rates.
Homeowners with mortgages
Nevada homeowners can use current rates to determine whether a mortgage refinance offers financial benefits compared to their existing rates.
Purchase and refinance rates are different. The current purchase rate in Nevada for a 30-year fixed mortgage is 6.77%, while refinancing has an average APR of 6.73%.
The loan duration influences your rate. A 30-year fixed-rate mortgage usually has a higher interest rate than a 15-year one. The longer loan term presents more uncertainty and risk for lenders, including potential nonpayment and fluctuating rates.
Different mortgage types in Nevada impact your payments. Use a mortgage calculator to understand the impact of various rates on your monthly payments and overall loan cost.
| 5.99% | 6.18% |
An interest rate is what you pay each year to borrow money for a mortgage. Nevada's average interest rate for a 30-year fixed-rate mortgage is 6.70%.
An APR (annual percentage rate) is the interest rate plus other costs like mortgage points and fees, giving you a broader view of your yearly loan costs. Nevada's average APR for a 30-year fixed-rate mortgage is 6.77%.
In Nevada, a credit score of 740 or higher with a 5% to 20% down payment typically results in a 7.20% APR for a 30-year fixed-rate mortgage. For scores below 680, the APR jumps to 7.96%. Use the table below to explore rates based on your credit score and down payment.
| 10-year Fixed | 5.98% |
| 15-year Fixed | 6.39% |
| 20-year Fixed | 6.42% |
| 30-year Fixed | 7.39% |
| 5-year ARM | 8.23% |
| 7-year ARM | 8.30% |
In November 2024, 30-year fixed-rate VA loans offer Nevada's lowest average APR at 6.43% for buying a home in Nevada. Knowing your mortgage options can lead to better financial decisions. Here are the mortgage loan types in Nevada:
Mortgage Type | Definition | Impact on Rates | 30-Year Rates in Nevada |
|---|---|---|---|
Conventional Loans | Conventional loans in Nevada are not insured or guaranteed by the government agencies. | The mortgage rates for conventional loans may vary based on credit score and down payment. | 6.77% |
FHA Loans | FHA loans in Nevada are backed by the Federal Housing Administration for lower down payments. | Mortgage rates for FHA loans might be lower due to government backing, appealing to first-time homebuyers. | 8.08% |
VA Loans | VA loans in Nevada are guaranteed by the Department of Veterans Affairs for eligible military members. | VA loans can offer competitive mortgage rates due to government backing, making them attractive for veterans. | 6.43% |
USDA Loans | USDA loans in Nevada are for rural homebuyers and backed by the United States Department of Agriculture. | USDA loans may offer lower mortgage rates due to government backing and requirements for the area and borrower. | currently unavailable |
Jumbo Loans | Jumbo loans in Nevada are for amounts larger than the conforming loan limits set by Fannie Mae and Freddie Mac. | Jumbo loans may carry higher mortgage rates due to the larger loan amounts and increased lender risk. | 6.76% |
Mortgage rates are either fixed or adjustable.
As of November 2024, Nevada has a 6.77% APR for a 30-year fixed mortgage and a 7.29% APR for a seven-year ARM.
Better, U.S. Bank and LoanDepot are the top mortgage choices in Nevada. They meet key criteria: operating in the state, having Better Business Bureau (BBB) accreditation and offering homeowner assistance programs. Rates vary by lender, so compare all options for the best deal on your Nevada home.
Better exclusively serves borrowers online, offering fixed-rate and adjustable-rate mortgages. A minimum credit score of 700 is required for jumbo loans, while conventional loans start at 620. FHA loans are available to those with a score of 580 and above. Down payments start at 3% but can reach 10% for a below 580 credit score or 25% for nonresident co-borrowers.
Customer service is available via phone or email from 8 a.m. to 9 p.m. ET on weekdays and 9 a.m. to 9 p.m. ET on weekends. Better also offers an exclusive homeowners assistance program called the Better Real Estate discount.
Pros
Cons
U.S. Bank offers various mortgages in Nevada, including conventional, FHA, VA and jumbo loans for new purchases and refinancing. Minimum credit scores range from 660 for ARMs and jumbo loans to 640 for FHA loans. Down payments start at 3% for conventional loans and 3.5% for FHA. VA loans require no down payment.
Video, phone and in-person customer support is available Monday through Friday from 7 a.m. to 8 p.m. CT and Saturday from 8 a.m. to 2 p.m. CT. U.S. Bank supports homeowners with forbearance, repayment plans, loan modifications and payment deferral options.
Pros
Cons
LoanDepot offers online and in-person mortgage options, including fixed-rate and adjustable-rate loans. The minimum credit score required for FHA loans is 580. Conventional loans start with a 5% down payment, while FHA loans offer 3.5% down with a 580+ credit score. VA and USDA loans don't require a down payment for eligible borrowers.
Customer support via phone and email is available Monday through Friday from 10 a.m. to 9 p.m. ET. LoanDepot also offers Loss Mitigation Assistance, ensuring comprehensive support for Nevada homeowners facing financial challenges.
Pros
Cons
Homeownership involves hidden costs that can affect your budget. Get support from the Nevada Housing Division, which offers various mortgage programs.
Program | Description |
|---|---|
Eases the financial burden for first-time homebuyers by offering up to 4% of the loan amount to help with down payment and closing costs, which are forgivable after seven years. Buyers must have a 640 credit score and meet county-specific income and price limits. | |
Offers up to 5% toward down payment or closing costs and a 30-year fixed-rate mortgage with no requirement for first-time buyers. It's available to buyers with income under $140,000, purchasing homes under $766,550 and with a minimum credit score of 640. | |
Offers K-12 public school teachers in Nevada $7,500 for down payment and closing costs, which is forgivable after five years, and a competitive 30-year fixed-rate mortgage. No first-time buyer status is required; the income cap is $135,000. |
Knowing today's mortgage rates in Nevada is crucial when buying a home. We've answered your questions to help you better understand the current rates and make well-informed decisions.
Current average APRs in Nevada vary depending on the loan type and other factors. For example, as of November 2024, a 30-year fixed conforming loan has an average APR of 6.77%, while a 30-year fixed-rate jumbo loan is at 6.76%.
Nevada's average APR for a 30-year fixed-rate mortgage is 6.77%, lower than the national average of 7.15% for the same period. Conversely, Nevada's average rate for a 5-year adjustable-rate mortgage is 7.52%, which is lower than the national average of 7.97%.
Your credit score influences the low mortgage rates you might qualify for in Nevada. Higher credit scores generally secure lower rates, while lower scores may result in higher interest costs.
Yes, there are several mortgage programs in Nevada, such as the Home is Possible for First-Time Homebuyers, Home is Possible and Home is Possible for Teachers, designed to assist buyers in achieving homeownership.
To get the best mortgage rates in Nevada, consider a larger down payment, improving your credit score and shopping around to compare offers from multiple lenders.
Today's refinance rates in Nevada average 6.77% for a 30-year fixed loan and 6% for a 15-year fixed loan.
To determine your monthly mortgage expenses, you could use a mortgage calculator for Nevada, which helps you estimate your payments including principal, interest, taxes and insurance.
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.
