Current mortgage rates · week of July 2, 2026
| Week | 30-yr / 15-yr fixed |
| July 2, 2026 | 6.43% / 5.79% |
| June 25, 2026 | 6.49% / 5.84% |
| June 18, 2026 | 6.47% / 5.81% |
| June 11, 2026 | 6.52% / 5.84% |
| June 4, 2026 | 6.48% / 5.79% |
| May 28, 2026 | 6.53% / 5.87% |
| May 21, 2026 | 6.51% / 5.85% |
| May 14, 2026 | 6.36% / 5.71% |
U.S. weekly averages — Freddie Mac Primary Mortgage Market Survey via FRED.
Nevada Mortgage Overview
3 million people call Nevada home. Whether it's because of the year-round sunny weather, low taxes, and fun environment there are plenty of reasons to live in Nevada.
There's a lower cost of living in the Southern part of the state where the tourists mostly visit, but the entire state has a $470,000 median home price. Only 56 percent of the area's homes are owner-occupied mostly due to the high tourist rates.
Are you thinking of owning a home in Nevada? Here are your loan options.
Nevada conventional loans
You'll need great credit and low debt ratios for the conventional loan. Most lenders require a 660 credit score and a max 36 percent debt ratio. You don't need 20 percent down like most people think. First-time homebuyers need 3 percent down and subsequent homebuyers need 5 percent down.
Nevada FHA loans
If you have a lower credit score or higher debt ratio, the FHA loan is a great alternative. With a 580 credit score, you need just 3.5 percent down and a 45 - 50 percent debt ratio. If you have a 500 - 579 credit score, you'll need 10 percent down and lenders may be tougher on your debt ratio, but there's a chance of approval. FHA loans require mortgage insurance for the loan's term.
Nevada VA loans
Military veterans can secure 100 percent financing from a VA lender. You need a 620 credit score and enough income to cover the mortgage, consumer debts, and the daily cost of living. Veteran loans don't require a down payment and don't have mortgage insurance, but there is an upfront funding fee you pay at closing.
Nevada USDA loans
If living in rural parts of Nevada sound more peaceful, the USDA loan may be a good option. Your household income must be 115% or less of the area's median income and you need a 640+ credit score. If you qualify, you'll get 100 percent financing, pay low interest rates, and low mortgage insurance for the life of the loan.
First-Time Homebuyer
Programs in Nevada
Home is Possible
The Home is Possible program is a down payment program up to 5% of the sales price to help you buy a home. You need a minimum 640 credit score and must qualify for one of the above-mentioned loans. It's a 30-year term loan with a low interest rate.
Home is Possible for Heroes
Veterans have access to the Home is Possible for Heroes program which offers a 30-year loan at lower interest rates. You must meet the income requirements to qualify.
Home is Possible for Teachers
Teachers can take advantage of this HIP program. It provides $7,500 in down payment or closing cost assistance and is forgiven after 5 years if you are still in the home. You must be a licensed teacher and make income below the limits.
Nevada mortgage FAQ
- Which home loan types can buyers use in Nevada?
- Conventional loans in Nevada typically require a 660 credit score, a debt ratio around 36 percent, and 3 percent down for first-time buyers or 5 percent for repeat buyers. FHA loans allow a 580 score with 3.5 percent down, or 500 to 579 with 10 percent down. VA loans give eligible veterans 100 percent financing, and USDA loans offer zero-down rural financing with a 640 or higher score.
- How does Nevada help first-time homebuyers?
- Nevada's Home is Possible program provides down payment assistance of up to 5 percent of the sales price for buyers with at least a 640 credit score who qualify for an underlying loan. Home is Possible for Heroes gives veterans a 30-year loan at reduced interest rates, and Home is Possible for Teachers offers licensed teachers assistance that is forgiven after 5 years in the home.
- Can you buy a home in Nevada with no down payment?
- Yes. VA loans give qualifying veterans 100 percent financing with no mortgage insurance, and USDA loans offer zero-down financing in rural areas for households earning 115 percent or less of the area median income with a 640 or higher credit score. Other buyers can pair a low down payment loan with the Home is Possible program, which covers up to 5 percent of the sales price.