Nevada mortgage and refinance rates

Current mortgage rates in Nevada

As of Wednesday, October 29, 2025, current interest rates in Nevada are 6.16 percent for a 30-year fixed mortgage and 5.57 percent for a 15-year fixed mortgage.

Despite a series of rate decreases by the Federal Reserve in 2024, mortgage rates spiked above 7 percent as 2025 began. They have since dwindled, though they spiked slightly following the Fed's rate cut in September. Daily Tech Finance's financial analyst Stephen Kates joins Fannie Mae and the Mortgage Bankers' Association in predicting that 30-year mortgage rates will move "mostly sideways" through the year's end, though minor variations are likely. Few experts foresee rates below 6 percent by the end of 2025.

Refinance rates in Nevada

Nevada refinance rates — and refinance rates nationally — are much higher than the historic lows seen during the pandemic. However, those who obtained a mortgage when rates peaked near 8 percent in 2023 might save some money by refinancing now. Refinance applications were up more than 40 percent year-over-year in Nevada, as of April, according to ATTOM, a real estate data provider.

And if you’ve owned a home in Nevada for a long time — or if you benefited from the recent spike in home values — you may have enough equity to tap. In fact, according to ATTOM, more than one-in-three homeowners in Nevada is "equity-rich," meaning they own more than half of their homes. With a cash-out mortgage refinance, you could take advantage of this asset to help further your financial goals.

National mortgage rates by loan type

Nevada housing market statistics and trends

Along with high mortgage rates, increasing home prices compound the housing affordability problem occurring nationwide. Median home prices in Nevada are a bit higher than the national median, but there are some bright spots in the state's housing market for first-time buyers. For example, as of August, there were just over 20 percent more homes for sale than there were at the same time in 2024. 

• Median home sales price, August 2025: $468,500
• Median home value, July 2025: $442,250
• Median down payment, July 2025: $75,000
• Median days on market, August 2025: 57
• Percentage of homes sold above list price, August 2025: 17.2%
• Percentage of homes with price drops, August 2025: 27.8%
• Homeownership rate, Q1 2025: 57.5%

Sources: ATTOM, Redfin, U.S. Census Bureau

Mortgage options in Nevada

If you'll need to finance your home purchase in Nevada, here are some common mortgage types to consider:

• Nevada conventional mortgages: To qualify for a conventional mortgage, you’ll need a minimum credit score of 620 and a debt-to-income (DTI) ratio of no more than 45 percent. With a down payment of less than 20 percent, you’ll need to pay private mortgage insurance (PMI) as well.
• Nevada FHA loans: If your credit history disqualifies you from a conventional mortgage, you might be able to obtain a loan insured by the Federal Housing Administration (FHA). If you have a credit score of at least 580, you could qualify for a down payment of as little as 3.5 percent.
• Nevada VA loans: If you’re a veteran or active-duty member of the military, you might qualify for a mortgage guaranteed by the Department of Veterans Affairs (VA). A VA loan doesn’t typically require a down payment or mortgage insurance, but you do need to pay a funding fee, which ranges from 1.25 to 3.3 percent of the loan amount for a home purchase.
• Nevada USDA loans: If you’re buying a rural property in Nevada, you might be eligible for a mortgage guaranteed by the U.S. Department of Agriculture (USDA). These loans don’t require a down payment, but you’ll need to purchase in a designated rural area and meet the area’s income limits.
• Nevada jumbo loans: Jumbo mortgages are home loans in amounts higher than FHFA borrowing limits. These loans are more common in higher-cost areas.

First-time homebuyer programs in Nevada

The Nevada Housing Division (NHD) administers several programs to help low- and moderate-income buyers purchase homes. For first-time buyers, the main program is Home Is Possible for First-Time Homebuyers, which provides a 30-year fixed-rate loan of up to 4 percent of the mortgage to use for a down payment or closing costs. You'll need a minimum 640 credit score to qualify and must take a homebuyer education course. You must also have a DTI ratio of no more than 50 percent.

NHD also offers the income-restricted Home First program, which provides up to $15,000 in down payment assistance as a 30-year fixed-rate loan. However, unlike the Home is Possible program, this loan is forgivable after three years if you remain in the home. The home's purchase price is capped at $570,000, and homebuyers must have a minimum credit score of 640 and a minimum of 6 months' residency in Nevada. They must also take a homebuyer education course.

How to find the best mortgage rate in Nevada

Additional Nevada mortgage resources

• Nevada first-time homebuyer resources: Get more help becoming a homeowner.
• Mortgage calculator: Estimate your monthly payment obligation based on your loan term, rate and down payment.
• Nevada loan limits by county: Learn the conforming loan limit for your city or town.
• Nevada mortgage lenders: Explore mortgage lenders in your state.
• How to buy a house in Nevada: Get set up for a successful house hunt with this guide.
• Homeowners insurance in Nevada: Compare policies from a variety of providers.