Compare mortgage rates and closing costs for leading lenders in Nevada. Review free, personalized mortgage rates for Nevada based on your specifc loan amount, program and other factors. Easily compare APRs, fees and monthly payments to find the lender offering the best mortgage terms.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Nevada. Plus, shopping lenders is free and there is no obligation.
July 9, 2020
The current average rate for a 30 year fixed rate mortgage in Nevada is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%
Below we offer valuable insights on the housing market and real estate prices in Nevada. Understand how much you need to make to buy a house in Nevada, including the mortgage you need. Review the monthy loan payment so you can determine if home ownership in Nevada is affordable for you. We provide this helpful information to help you decide if living in Nevada is right for you.
The median home value for Nevada is $333,031
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Nevada is $59,937
With this income, you could qualify for a $299,728 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Nevada is $1,388
The median household income for Nevada is $58,690
Based on this income, you can afford a home valued at approximately $326,104
The home price you can afford to buy based on household income in Nevada is 98% of the median home value which means housing prices are very expensive. Nevada ranks 44 out of 50 states for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the real estate market in Nevada is very expensive