Nevada Mortgage Calculator
Calculate your Nevada mortgage payment with PMI, property tax, and closing costs.
Useful for home buyers in Las Vegas, Reno, Henderson, Carson City, Sparks, and all of Nevada.
Useful for home buyers in Las Vegas, Reno, Henderson, Carson City, Sparks, and all of Nevada.
Why use a Nevada Mortgage Calculator?
Nevada has lower property taxes compared to the national average but unique considerations like transfer taxes in certain counties. This calculator estimates your payment, PMI, property tax, and closing costs.
Nevada has lower property taxes compared to the national average but unique considerations like transfer taxes in certain counties. This calculator estimates your payment, PMI, property tax, and closing costs.
Result
Enter your details to see the estimated payment here.
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Nevada Property Tax: The average effective property tax rate is about 0.53%. Nevada has relatively low property tax rates compared to the national average. In Clark County (Las Vegas), there's a Real Property Transfer Tax of 0.51% on property sales. Closing costs in Nevada are typically 2-5% of the purchase price.
Average Home Prices in Major Nevada Cities (2024)
| City | Detached | Semi-Detached | Townhouse | Condo |
|---|---|---|---|---|
| Las Vegas | $475,000 | $400,000 | $350,000 | $290,000 |
| Reno | $550,000 | $485,000 | $420,000 | $360,000 |
| Henderson | $525,000 | $450,000 | $390,000 | $320,000 |
| Carson City | $470,000 | $410,000 | $360,000 | $295,000 |
| Sparks | $495,000 | $425,000 | $370,000 | $310,000 |
Note: Prices are approximate averages for 2024 and may vary by neighborhood and property features.
How Mortgage Rules Work in Nevada
- Property Tax: Nevada's average effective property tax rate is about 0.53%, which is lower than the national average. Property taxes are paid annually and may be included in your monthly payment through an escrow account.
- Transfer Tax: The Real Property Transfer Tax in Nevada varies by county. Clark County (Las Vegas) charges 0.51% of the property's value.
- PMI (Private Mortgage Insurance): If your down payment is less than 20%, you must pay PMI, which is added to your monthly payment until you reach 20% equity.
- Closing Costs: Nevada's closing costs include title insurance, recording fees, transfer taxes, and other expenses.
Example: On a $450,000 home with 15% down in Las Vegas, you pay PMI and property tax. Closing costs are typically 2-5% of the purchase price, which include the Real Property Transfer Tax.
Frequently Asked Questions
Nevada's average effective property tax rate is about 0.53%, which is lower than the national average. Property tax varies by county and municipality. In Clark County (Las Vegas area), the tax rate is typically around 0.7%, while Washoe County (Reno area) has rates around 1.1% before adjustments and caps.
The Real Property Transfer Tax in Nevada varies by county. In Clark County (Las Vegas), the rate is 0.51% of the property's value. This tax is typically paid by the seller but can be negotiated between parties. Some transactions may be exempt from this tax under certain conditions.
Closing costs in Nevada typically range from 2-5% of the purchase price. These costs include title insurance, escrow fees, recording fees, transfer taxes, loan origination fees, and other expenses. In Nevada, buyers often pay for title insurance, which is higher than in some other states.