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Enter your financial information below to see your maximum home price, monthly payment, and debt-to-income ratio
Before taxes and deductions
Car loans, student loans, credit cards
Cash available for down payment
Current Nevada 30-year fixed rate
Clark County: 0.60% | Washoe: 0.53%
Typical Nevada: $200-400/month
Principal, interest, taxes, insurance
After down payment
Total debt / Gross income
Minimum annual to qualify
Senior Mortgage Analyst | 18+ Years Nevada Mortgage & Financial Planning Experience
Michael specializes in mortgage affordability analysis and financial planning for Nevada homebuyers. Since 2008, he has helped over 3,200 Nevada families accurately determine their home buying budget through detailed income, debt, and savings analysis. Michael created Conventional Home Loans Services's proprietary affordability calculator algorithms that factor in Nevada-specific property taxes, HOA fees, and insurance costs to provide the most accurate affordability estimates for Las Vegas, Henderson, Reno, and all Nevada counties. He holds the Certified Financial Planner (CFP) and Accredited Mortgage Professional (AMP) designations and has been featured in Nevada Real Estate Journal for his expertise in first-time homebuyer financial readiness. Michael's affordability assessments have a 94% accuracy rate in predicting final loan approval amounts, helping Nevada buyers make confident offers without overextending their budgets.
Key factors that determine how much house you can afford in Nevada
Most Nevada lenders follow the 28/43 DTI guideline: your housing costs should not exceed 28% of gross monthly income, and total debts should stay under 43%.
FHA loans may allow up to 57% DTI with strong compensating factors, but 28/43 provides financial flexibility.
Your credit score directly impacts your interest rate, which affects how much you can afford. Higher scores = lower rates = more buying power.
Improving your score 60+ points can increase budget by $30,000-$50,000.
Nevada has some of the lowest property taxes in the nation, making homes more affordable compared to high-tax states.
A $400,000 home in Las Vegas = ~$200/mo property tax vs $357/mo nationally.
Lenders include HOA fees in your DTI calculation. Higher HOA fees directly reduce your maximum affordable home price.
A $300/mo HOA fee reduces your max home price by ~$50,000-$60,000.
Get your official pre-approval in 24 hours and start house hunting with confidence
Common questions about calculating how much house you can afford in Nevada
The 28/43 rule is a debt-to-income guideline used by most Nevada lenders. It states that your housing costs (PITI: principal, interest, taxes, insurance) should not exceed 28% of your gross monthly income, and your total debt payments (including housing, car loans, student loans, credit cards) should stay under 43% of gross income. For example, if you earn $6,000/month, your maximum housing payment should be $1,680 (28%) and total debts should be under $2,580 (43%). FHA loans may allow higher ratios with compensating factors, but 28/43 provides good financial flexibility.
Your credit score directly impacts your interest rate, which significantly affects affordability. Higher scores qualify for lower rates, reducing monthly payments and increasing buying power. For a $350,000 loan: a 760+ score at 6.5% = $2,212/month, while a 620 score at 7.5% = $2,448/month – a $236/month difference. Over 30 years, improving your score from 620 to 760+ could increase your budget by $30,000-$50,000. Even a half-point rate reduction (0.5%) on a $400,000 loan saves about $120/month, allowing you to afford roughly $20,000 more home.
Your total monthly housing payment (PITI) includes four main components:
Down payment requirements vary by loan type: FHA loans require just 3.5% down (e.g., $17,500 on a $500,000 home). Conventional loans can go as low as 3% for first-time buyers or 5% for repeat buyers. VA loans for veterans require 0% down. USDA loans for rural areas also offer 0% down. While 20% down avoids PMI and gets better rates, many Nevada buyers successfully purchase with 3-5% down. Nevada also offers down payment assistance programs providing up to $15,000 for first-time buyers. Our calculator assumes your entered down payment amount – try different scenarios to see how it affects affordability.
No, Nevada has some of the lowest property taxes in the nation! The statewide average is just 0.53% annually, compared to the US average of 1.07%. Clark County (Las Vegas) is 0.60%, and Washoe County (Reno) is 0.53%. This means a $400,000 home in Las Vegas has property taxes of about $200/month ($2,400/year), versus $357/month nationally. Nevada offsets low property taxes with no state income tax and slightly higher sales taxes. For homebuyers, this makes Nevada homes significantly more affordable monthly compared to high-tax states like New Jersey (1.89%) or Illinois (2.08%).
HOA fees are included in your total monthly housing payment for DTI calculations, directly reducing your maximum home price. A $300/month HOA fee reduces your affordable home price by approximately $50,000-$60,000. For example, with $6,000 monthly income, 28% DTI allows $1,680 for housing. If you have a $300 HOA fee, only $1,380 remains for principal, interest, taxes, and insurance – significantly reducing your maximum loan amount. Nevada HOA fees typically range from $50-150/month for single-family homes, $200-400/month for condos with amenities, and $500+/month for luxury high-rises. When house hunting, factor HOA fees into your budget from day one.
Yes! Paying off debt before buying significantly increases affordability. Every $100/month in debt payments you eliminate increases your home buying budget by approximately $16,000-$20,000. For example, with $6,000 monthly income and the 43% DTI limit ($2,580 max total debt), reducing monthly debt from $800 to $400 frees up $400/month for housing payment, increasing your maximum home price by roughly $65,000-$70,000. Priority debts to pay off: high-interest credit cards first, then car loans or student loans with remaining balances under 10 months. However, don't completely drain savings – you still need funds for down payment and closing costs (typically 3-6% of home price combined).
This calculator provides a reliable estimate, but actual approval depends on several factors lenders review:
For an exact approval amount, get pre-approved by submitting a full mortgage application. Call us at (702) 696-9900 for a 24-hour pre-approval.
Now that you know how much you can afford, take the next step toward homeownership with our streamlined pre-approval process
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Calculate how much equity you can access and see estimated payments for a cash-out refinance
Common questions about calculating home affordability in Nevada
The 28/43 rule is a guideline lenders use to determine how much you can afford. It states that:
For example, if you earn $80,000/year ($6,667/month), you should keep housing under $1,867/month and total debts under $2,867/month. Some loan programs allow slightly higher ratios with compensating factors like excellent credit or large down payments.
Yes! This calculator includes all components of your monthly housing payment:
Yes, FHA and VA loans allow higher debt-to-income ratios which means you can potentially afford a more expensive home:
FHA Loans:
Allow up to 50% DTI with compensating factors (good credit, cash reserves). Only require 3.5% down vs 5-20% conventional. For a $400K home, FHA allows ~$80K annual income vs $90K+ for conventional at same DTI.
VA Loans:
Allow up to 50-55% DTI with strong credit. Zero down payment means no need for $30K+ down payment savings. Veterans with $80K income could qualify for $450K+ homes with VA vs $350K conventional.
Important Note:
Higher DTI = less monthly breathing room. Just because lenders approve 50% DTI doesn't mean it's comfortable. Most financial advisors recommend staying under 43% for financial flexibility.
Not necessarily. Lenders tell you the maximum you can borrow, but that doesn't mean it's the comfortable amount for your lifestyle. Consider:
Many financial experts recommend targeting 25-30% of gross income on housing instead of the full 28% to maintain financial flexibility. Our loan officers help you find the right balance between home value and comfortable monthly payments.
This calculator provides a good estimate but not an exact approval amount. Key differences:
What This Calculator Does:
What Pre-Approval Includes:
Bottom line: Use this calculator for planning, but get pre-approved before house hunting to know your exact buying power and make competitive offers sellers will take seriously.
Get a personalized pre-approval with your exact buying power based on your complete financial profile. Our Nevada loan officers provide customized analysis and help you explore all available loan programs.
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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.