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Calculate your home buying budget based on your income, debts, down payment, and current Nevada mortgage rates. Get a realistic estimate of what you can afford.
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Use these standard guidelines to estimate your home buying budget before running the full calculator.
If your household earns $80,000/year ($6,667/month):
*These are rough estimates. Your actual approval amount depends on credit score, down payment, debts, and current rates. Use our calculator for a personalized estimate.
Lenders evaluate multiple factors when determining your maximum home loan amount. Here's what matters most in Nevada.
Gross monthly income is the foundation of your home buying budget. Lenders verify with pay stubs, W-2s, and tax returns.
Nevada Median Income: ~$71,000/year. At this income level, a home around $213,000-$284,000 is typically affordable.
Your debt-to-income ratio includes car loans, student loans, credit cards, and other monthly obligations.
DTI Rule: Most lenders require total DTI under 43%. FHA allows up to 50% with compensating factors.
Your down payment directly affects how much home you can buy. Larger down payments mean bigger purchase power.
Nevada Programs: FHA 3.5% down, Conventional 3-5% down, VA 0% down for qualified veterans.
Higher credit scores qualify for better interest rates, which increases your buying power significantly.
Rate Impact: A 0.5% rate difference on a $300K loan saves ~$100/month, or adds $15K+ to your budget.
Interest rates fluctuate daily. Lower rates mean you can afford more house with the same monthly payment.
Today's Nevada Rates: See current rates for FHA, VA, and conventional loans.
Don't forget property taxes, HOA fees, insurance, and maintenance when budgeting for Nevada homeownership.
Nevada Advantage: No state income tax! Property taxes average 0.53% (lower than national average).
Affordability varies significantly across Nevada. Here's what typical incomes can afford in major Nevada cities.
With 10% down and 7% rate, monthly payment ~$2,580 (PITI)
With 10% down and 7% rate, monthly payment ~$2,850 (PITI)
With 10% down and 7% rate, monthly payment ~$3,120 (PITI)
Even 20-40 points can lower your rate by 0.25-0.5%, saving thousands and increasing your budget.
Reducing monthly debt obligations lowers your DTI ratio, allowing you to qualify for a larger mortgage.
More money down means you can afford a higher-priced home. Plus, you may avoid PMI with 20% down.
These programs allow lower down payments and more flexible credit requirements, making homes more accessible.
Nevada offers first-time buyer programs that can help with down payment and closing costs.
Ready to find out exactly what you can afford?
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Valley West Mortgage - NMLS #65506
Nevada Mortgage Lender License
Licensed to conduct business in Nevada
NMLS Consumer Access: www.nmlsconsumeraccess.org
We are an Equal Housing Lender. We do business in accordance with the Federal Fair Housing Law and Equal Credit Opportunity Act. This company does not discriminate on the basis of race, color, religion, national origin, sex, marital status, age, or handicap.
This is not a commitment to lend. All loans subject to credit approval. Rates, terms, and conditions are subject to change without notice. Not all applicants will qualify. Additional restrictions may apply. Property insurance required. Flood insurance may be required. This website is for informational purposes only and does not constitute financial advice. Consult with a licensed loan officer for personalized guidance.