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A complete, transparent guide to getting a mortgage in Nevada — from pre-approval to closing day. Whether you're buying in Las Vegas, Henderson, Reno, or anywhere in the Silver State, here's what you need to know.
Getting a mortgage in Nevada typically takes 30-45 days from application to closing. You'll need proof of income, credit history, employment verification, and a down payment (ranging from 0% for VA loans to 20% for conventional). Nevada-specific considerations include property taxes, HOA rules in Las Vegas suburbs, and market conditions that vary by county.
Whether you're a first-time buyer or experienced homeowner, here's how this guide helps you
Never bought before? Start here to understand the full process, timeline, and what to expect in Nevada.
Moving from another state? Learn Nevada-specific requirements, property tax structures, and local market realities.
Upgrading or moving within Nevada? Refresh on the process and see what's changed since your last purchase.
Not ready yet? Use this guide to prepare your credit, savings, and documents months before you apply.
Here's what happens from your first conversation to closing day — realistically, in Nevada
Submit income docs, credit authorization, and asset statements. Your lender reviews your file and issues a pre-approval letter showing how much home you can afford. In Nevada's competitive markets like Las Vegas and Henderson, having this letter before making offers is essential.
What You'll Need:
Work with your real estate agent to find properties within your budget. Once you make an offer and it's accepted, you'll provide an earnest money deposit (typically 1-3% of purchase price) and the formal loan process begins. Nevada uses a standard purchase agreement that includes financing contingencies to protect buyers.
Submit your full loan application with updated documentation. The processor verifies employment, income, assets, and credit. They'll order the appraisal and title search. You may be asked to provide additional documents or explanations during this phase — this is normal.
A licensed appraiser assesses the property's market value to ensure it matches your purchase price. You'll also schedule a home inspection (optional but highly recommended). In Nevada, watch for issues specific to desert climates — HVAC systems, stucco conditions, and pool equipment if applicable.
An underwriter reviews your entire file to ensure you meet loan guidelines. They may request additional documentation (called "conditions"). Common requests include updated pay stubs, explanations for recent deposits, or verification of debts. Response quickly to avoid delays.
Once all conditions are satisfied, the underwriter issues a "clear to close." You'll receive your Closing Disclosure showing your final loan terms, monthly payment, and closing costs at least 3 business days before closing. Review it carefully and ask questions if anything is unclear.
Sign your loan documents at the title company or attorney's office. Bring a government-issued ID and your cashier's check or wire confirmation for closing costs and down payment. In Nevada, closings typically happen at a title company. Once complete, you receive the keys — congratulations, you're a Nevada homeowner!
Total Timeline
30-45 Days
From application to closing (typical for most Nevada buyers)
Gather these documents before applying to speed up your approval
Get a printable PDF checklist to keep track of your documents
View Resources & ToolsUnderstanding your upfront and ongoing costs helps you budget accurately
Depends on loan type. VA = 0%, FHA = 3.5%, Conventional = 3-20%
Includes lender fees, title insurance, escrow, appraisal, and recording fees
Held in escrow, applied toward down payment or closing costs at closing
Optional but highly recommended; varies by property size and location
Example on a $400,000 Las Vegas Home:
Your mortgage payment, based on rate, term, and loan amount
Nevada's property tax rates are relatively low; varies by county (Clark, Washoe, etc.)
Required by lenders; cost varies by coverage amount and property location
Common in Las Vegas suburbs like Summerlin, Henderson, and Enterprise
Mortgage insurance; amount depends on down payment and loan type
Total Monthly Payment Estimate:
Use our tools to estimate your monthly payment with Nevada-specific costs
View Mortgage CalculatorsStrategic guidance on when to lock your Nevada mortgage rate, seasonal market trends, Federal Reserve impact, and how to time your home purchase for the best possible rate and terms.
Best season for buyers. Lowest competition, motivated sellers, better negotiation leverage for price reductions and seller concessions. Inventory lower but serious sellers only.
Peak competition. Most inventory available but also most buyers. Multiple offers common. Bidding wars push prices up 5-10% above list in hot neighborhoods (Henderson, Summerlin).
Balanced market. Competition easing as families settled post-school start. Motivated sellers (job relocations, life changes) still need to sell before holidays. Good middle ground for value.
If Federal Reserve raising rates or recent economic data shows inflation pressure - lock now before rates climb higher
Once you have accepted offer, lock immediately. Closing in 30-45 days typical, standard lock period protects you
If you see 6.5% and you'd be happy with 6.75% - lock it. Don't get greedy waiting for perfection
If Fed signals rate cuts coming or economic slowdown data emerging - floating could save 0.125%-0.25%
Long lock periods cost extra (0.125%-0.375% fee). Float until 45 days before close, then lock
Some lenders offer one-time float-down if rates drop 0.25%+ after lock. Best of both worlds protection
Standard 45-day lock protects most Nevada transactions (30-40 day close typical). Longer locks (60-90 days) available for new construction or complicated transactions but cost 0.125%-0.375% extra per 15 days. Our Nevada loan officers monitor daily rate movements and advise optimal lock timing based on your specific situation and Federal Reserve outlook.
When Federal Reserve raises benchmark rate (fighting inflation), mortgage rates typically follow upward within days to weeks.
When Fed lowers rates (stimulating economy during slowdown), mortgage rates generally decline. Great time to buy or refinance.
When Fed pauses (monitoring data), mortgage rates stabilize or move based on bond market expectations of future Fed moves.
Fed meets 8 times yearly (every 6-7 weeks) to set monetary policy. Rate announcements typically 2:00 PM ET on meeting end day, causing immediate market reactions. Nevada buyers should avoid locking rates 3-5 days before Fed meetings if cuts expected (float for better rate), or lock immediately if hikes anticipated.
Our Nevada mortgage specialists monitor daily rate movements and Fed policy to advise the optimal lock timing for your situation. Get personalized rate lock strategy when you apply.
Unique considerations for buying in the Silver State
Nevada has some of the lowest property tax rates in the U.S., typically 0.6-0.8% of assessed value. Clark County (Las Vegas) and Washoe County (Reno) rates are below the national average, making homeownership more affordable long-term.
Many Nevada communities — especially in Las Vegas suburbs like Summerlin, Henderson, and Enterprise — have mandatory HOA fees. Review HOA documents carefully for fees, rules, and special assessments before making an offer.
Nevada is a non-judicial foreclosure state, meaning lenders can foreclose without going to court (though borrower protections exist). Understanding this helps you plan contingencies and know your rights if financial challenges arise.
During inspections, pay extra attention to HVAC systems, stucco condition, pool equipment, and landscaping. Desert heat puts extra wear on homes, and appraisers/inspectors look for climate-appropriate maintenance.
Las Vegas and Reno markets can be competitive, especially in desirable neighborhoods. Having a strong pre-approval letter, flexible closing timeline, and minimal contingencies helps your offer stand out to sellers.
Nevada uses standardized real estate forms with built-in financing contingencies. Work with a local real estate agent familiar with Nevada contracts to protect your interests and meet all deadlines.
Quick answers to common questions from Nevada home buyers
Whether you're buying in Las Vegas, Henderson, Reno, or anywhere in Nevada, we're here to guide you through every step with transparency and local expertise.
Local expertise across all Nevada counties
No surprises, clear communication
Typical 30-45 day timeline
Nevada's trusted conventional mortgage lender serving Las Vegas, Henderson, Reno and all of Nevada with competitive rates and expert guidance.
3% down, competitive rates, flexible terms
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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.