Current Nevada Mortgage and Refinance Rates

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LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
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Current 30-year fixed mortgage rates are averaging: 6.94%

Current 15-year fixed mortgage rates are averaging: 6.26%

Current average rates are calculated using all conditional loan offers presented to consumers nationwide by LendingTree’s network partners on the previous day for each combination of loan program, loan term and loan amount. Rates and other loan terms are subject to lender approval and not guaranteed. Not all consumers may qualify. See LendingTree’s Terms of Use for more details.

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 Refinance rates in Nevada

  • Rate-and-term refinances are a good option when you want to alter your existing mortgage’s interest rate or loan term — or even both. In Nevada today, the average interest rate you’ll pay to refinance is higher than average purchase mortgage rates.
  • Cash-out refinances replace your current home loan with a new mortgage and, at the same time, give you access to a portion of your home equity in cash. They usually come with higher rates than rate-and-term refinances.
  • Conventional refinances aren’t a part of a government loan program. You can expect them to come with higher rates than government-backed refinances.
  • FHA refinances are insured by the Federal Housing Administration (FHA), and their rates are typically lower than conventional refinance rates. Nevadans shouldn’t be surprised to see FHA refinance rates that are around 0.77 percentage points lower than conventional refinance rates.
  • VA refinances are backed by the U.S. Department of Veterans Affairs (VA) and usually come with very inexpensive interest rates. A qualified military borrower in Nevada today may see VA refinance rates that are more than a full percentage point lower than conventional refinance rates, and 0.29 percentage points lower than an FHA refinance.

Current 30-year fixed mortgage refinance rates are averaging: 7.31%

The current average rate for a 15-year fixed mortgage refinance is: 6.70%

Current average rates are calculated using all conditional loan offers presented to consumers nationwide by LendingTree’s network partners on the previous day for each combination of loan program, loan term and loan amount. Rates and other loan terms are subject to lender approval and not guaranteed. Not all consumers may qualify. See LendingTree’s Terms of Use for more details.
 See whether refinancing makes sense for you using our mortgage refinance calculator.

  What is the current mortgage rates forecast for 2024?

The current mortgage rates forecast is for rates to remain relatively high compared to where they sat before the pandemic. However, rates have dropped since the summer of 2023, when they climbed into the 7% range, and are expected to continue to drop as the year progresses. LendingTree’s senior economist Jacob Channel wouldn’t be surprised to see rates near or even below 6% in 2024, but doesn’t expect them to reach that milestone until the second half of the year.

How do I get the best mortgage rate for my Nevada home loan?

There are many factors determining mortgage rates that are out of your control, but don’t let that discourage you — a targeted effort to change the factors that are within your control can have a big effect.

Here are a few steps you can take to get the best mortgage rate possible:

  1. Boost your credit. Your credit score is an important signal to lenders and can really drag down the quality of your rate offers if it isn’t in good shape. The higher your score, the better your rate offers will be.
  2. Lower your debt-to-income (DTI) ratio. Your DTI ratio tells lenders how heavily your debts weigh on you, and how much more you can afford to take on. If you can lower your DTI, you should see more competitive rate offers. You can do this by increasing your income, paying off some debts or getting a cosigner.
  3. Buy a single-family, site-built home. You’ll see the lowest interest rates if you avoid properties that lenders consider more risky. Avoid buying a manufactured home, a property with more than one unit, a vacation home or an investment property.
  4. Pay for mortgage points. Buyers who want a lower interest rate can choose to purchase mortgage points. Each mortgage point you buy typically reduces your quoted rate by up to 0.25 percentage points. One point generally costs 1% of your loan amount — not a negligible amount of money — but it can reduce your interest charges in the long run.
  5. Compare offers from multiple lenders. Savvy home shoppers know that it pays to gather loan estimates from three to five lenders before moving ahead with an offer. Shopping for the best rate can save you thousands, according to LendingTree data.
  Read more about our picks for the best mortgage lenders.
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When should I lock in my mortgage rate?

Once you’ve found a house you love and been approved for a mortgage, you should request a mortgage rate lock from your lender. This ensures that the interest rate presented in your loan estimate will still be there waiting when you make it to the closing table.

2024 Nevada home loan programs

The Nevada Housing Division (NHD) offers several programs for first-time homebuyers, and a special program for teachers who work in Nevada’s public schools.

 Who qualifies as a first-time homebuyer?

 People who have never owned a home
 People who haven’t owned real estate in the last three years

Home Is Possible

This program gives first-time homebuyers access to up to 4% of their first mortgage amount in down payment assistance. The funds can also be used to cover closing costs, and must be repaid in monthly installments over a 30-year term.

 Who qualifies?

Borrowers must:

 Be a first-time homebuyer
 Have at least a 640 credit score
 Earn within the program’s income limits for your county and household size
 Purchase a home within the program’s price limits for your county
 Take a homebuyer education course
 Use a participating lender

Home First

First-time homebuyers across the state of Nevada may qualify for a 30-year fixed-rate mortgage and an additional $15,000 to help boost their down payment (these funds can’t be used for closing costs). The additional money is forgivable, which means you won’t have to repay it as long as you stay in the home for at least three years.

 Who qualifies?

Borrowers must:

 Be a first-time homebuyer
 Have lived in Nevada for at least six months
 Have a minimum 640 credit score (680 for manufactured homes)
 Earn within the program’s income limits, which range from $45,180 for a one-person household to $158,160 for an eight-person household*
 Buy a home for $570,000 or less
 Complete a homebuyer education course

*These limits apply to FHA, VA and USDA loans. Conventional loans may come with additional income requirements.

Home Is Possible for Teachers

Public school teachers in Nevada — even those who aren’t first-time homebuyers — can access a special version of the Home Is Possible program. Qualifying teachers can get both a purchase mortgage with a below-market interest rate, as well as $7,500 in funds to help cover their closing costs or down payment.

 Who qualifies?

Borrowers must:

 Be a full-time K-12 teacher in a Nevada public school
 Earn no more than $140,000 per year
 Purchase a home for $766,550 or less
 Not own another property by the time they close on a home through the program
 Complete a homebuyer education course

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Learn about different types of NV mortgage loans

 Nevada conventional loans. Conventional loans are a very traditional and popular choice, but you’ll have to meet their somewhat stringent minimum requirements — including a minimum 620 credit score.

 Nevada FHA loans. FHA loans can be easier to access, since FHA loan requirements are more flexible and only require a minimum 500 credit score. In order to qualify with a score that low, you’ll need at least a 10% down payment, but borrowers with at least a 580 score can put down as little as 3.5%.

  Nevada VA loans. VA loan requirements are designed to be forgiving, and the VA doesn’t set a minimum credit score (many lenders, however, may enforce a 620 credit score cutoff). Qualified military borrowers with full VA entitlement can access zero-down loans and avoid having to pay for mortgage insurance.

  Nevada streamline refinances offer a fast and easy option for borrowers who want to refinance with less hassle. FHA streamline refinance loans and VA interest rate reduction refinance loan (IRRRLs) are currently the only “streamline” options, and to qualify you must refinance from an FHA loan into an FHA loan, or from a VA loan into another VA loan.

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