Nevada Mortgage Payment Calculator

Our Nevada mortgage calculator provides highly accurate estimates based on current market rates, Nevada property tax averages (0.53%), and typical insurance costs. However, your actual monthly payment may vary based on your specific credit score, down payment amount, loan program, exact property tax rate in your county, and actual insurance quotes. For a precise payment quote, apply for pre-approval with us.

Your monthly mortgage payment typically includes four main components (PITI):

• Principal - Loan repayment that builds equity
• Interest - Cost of borrowing from the lender
• Property Taxes - Nevada average 0.53% annually, paid monthly via escrow
• Insurance - Homeowners insurance plus PMI if down payment is less than 20%

Some payments also include HOA fees if applicable. Our calculator estimates all these costs for Nevada properties.

Most Nevada lenders follow the 28/36 rule: your mortgage payment should not exceed 28% of your gross monthly income, and your total debt payments should not exceed 36%.

Use our calculator to test different home prices and down payments to find a comfortable payment that fits your budget. For personalized affordability guidance based on your income and debts, contact our Nevada loan officers or try our affordability calculator.

The default rates in our calculator reflect market averages for borrowers with good to excellent credit (typically 700+). If your credit score is lower, you may receive a slightly higher interest rate, which increases your monthly payment.

• FHA loans - Accept scores as low as 580 (3.5% down) or 500 (10% down)
• VA loans - Typically require 620+ (no minimum from VA itself)
• Conventional loans - Start at 620 with best rates at 740+

Enter your estimated rate to see personalized Nevada payment estimates.

Private Mortgage Insurance (PMI) is required on conventional loans when you put down less than 20%. You can remove PMI by:

1. Reaching 20% equity through payments and appreciation (request removal)
2. Automatic termination at 22% equity
3. Refinancing once you have 20% equity

VA loans have no PMI, and FHA MIP typically lasts the life of the loan for down payments under 10%. Use different down payment amounts in our calculator to see the PMI impact. Learn more about removing PMI.

A larger down payment reduces your monthly payment in two ways: lower loan amount means less principal and interest, and 20%+ down payment eliminates PMI (saving $100-300/month).

However, consider keeping cash reserves for emergencies, home repairs, and other investments. Many Nevada buyers choose 3-5% down on their first home to preserve liquidity.

Use our calculator to compare different down payment scenarios and their monthly payment impact. Most experts recommend maintaining 3-6 months of expenses in emergency savings even after closing.

The average mortgage payment in Nevada is approximately $2,287 per month based on the state's median home price of $450,000 with a 20% down payment and current average interest rates around 6.75%.

Payments vary significantly by location:

• Las Vegas and Henderson: $450,000-$475,000 median price
• Reno: $525,000+ median price
• Rural Nevada: Often lower, $300,000-$400,000 range

Your actual payment depends on home price, down payment, credit score, and loan type. Use our calculator with your target home price to see your specific Nevada payment estimate.

Nevada has relatively low property taxes averaging 0.53% annually (about $221/month per $100,000 in home value). Property taxes are typically included in your monthly mortgage payment via an escrow account, so your lender pays them on your behalf.

Nevada property tax rates by county:

• Clark County: ~0.53% average
• Washoe County: ~0.56% average
• Other counties: May vary slightly

Our calculator uses Nevada averages, but you can adjust the property tax field for your specific county rate to see the exact impact on your monthly payment.