When should I refinance my Nevada mortgage?

Refinance your Nevada mortgage when: interest rates drop 0.75-1% below current rate, you can shorten loan term without significantly raising payment, removing PMI by reaching 20% equity, switching from ARM to fixed rate, credit score improved by 50+ points for better rate. Break-even typically 2-4 years in Nevada.

How much does it cost to refinance in Nevada?

Nevada refinance closing costs typically 2-5% of loan amount. $350K refinance costs $7000-17500. Includes: appraisal $500-700, title insurance $1500-2500, lender fees $1000-3000, recording fees $200-400. Nevada has lower closing costs than national average. No-closing-cost refinance options available with slightly higher rate.

What is the break-even point on refinancing?

Break-even point is when monthly savings equal closing costs paid. Example: $10000 closing costs with $300/month savings = 33 month break-even (2.75 years). If you plan to keep home longer than break-even period refinancing makes sense. Nevada average break-even 24-36 months depending on loan amount and rate reduction.

Can I refinance with less than 20% equity in Nevada?

Yes - Nevada homeowners can refinance with less than 20% equity. FHA streamline allows refinance with any equity if current FHA loan. Conventional requires 5% equity minimum for rate-term refi 20% equity for cash-out refi. VA IRRRL requires no equity verification for veterans. PMI continues if under 20% equity on conventional loans.

NEVADA REFINANCE CALCULATOR

Should You Refinance Your Nevada Mortgage?

Calculate potential monthly savings, break-even point, and total interest saved by refinancing your conventional, FHA, or VA loan in Nevada.

Calculate Savings Get Refi Quote

Monthly Savings

Lower payments

Break-Even

ROI timeline

When Refinancing Makes Sense

Rate Drop of 0.75% or More

Typically justifies refinance closing costs

Remove FHA MIP

Switch FHA to conventional at 20% equity

Shorten Loan Term

30-year to 15-year to save interest

Cash-Out Refinance

Access home equity for improvements

Current Loan Details

Current Loan Balance

Current Interest Rate (%)

Years Remaining

New Loan Details

New Interest Rate (%)

New Loan Term (Years)

Estimated Closing Costs

Typically 2-3% of loan amount

Monthly Savings

$325

Current Payment

$2,450

New Payment

$2,125

Total Interest Saved

$68,400

Break-Even Point

15 months

Start Refinance

Understanding Results

Your Refinance Savings Breakdown

Here's what these numbers mean and how refinancing could lower your monthly payment and save you thousands over the life of your Nevada mortgage.

Key Refinance Metrics

Monthly Savings: Lower Payment

Total Interest Saved: Over Loan Life

Break-Even Point: When You Recoup Costs

New Loan Term: Years Remaining

Start Refinance Application

When to Refinance in Nevada

Interest Rate Drop Rates have dropped 0.5% or more since you bought
Improved Credit Score Your score has increased 50+ points
Remove PMI You've reached 20% equity and can eliminate PMI
Shorten Term Switch from 30 to 15 years to save on interest
Cash-Out Need Tap equity for home improvements or debt consolidation

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(702) 696-9900

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Las Vegas, NV

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Licensing Information

Valley West Mortgage - NMLS #65506
Nevada Mortgage Lender License
Licensed to conduct business in Nevada

NMLS Consumer Access: www.nmlsconsumeraccess.org

Equal Housing Opportunity

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.