Monthly Payment on a $100K Mortgage in Nevada
Using Nevada's 0.53% property tax rate and $1,700/yr homeowners insurance.
$100K Mortgage in Nevada: Rate Comparison
Monthly PITI payment using Nevada's 0.53% property tax and $1,700/yr insurance.
| Rate | 5% Down | 10% Down | 20% Down |
|---|---|---|---|
| 5.5% | $781 | $749 | $640 |
| 6.0% | $811 | $778 | $665 |
| 6.5% | $842 | $807 | $691 |
| 7.0% | $873 | $837 | $718 |
| 7.5% | $906 | $868 | $745 |
| 8.0% | $938 | $899 | $773 |
How This Compares to Nevada's Median
A $100K home is 76% below Nevada's median of $425K. This is well within reach in many Nevada communities.
Income Needed for a $100K Home in Nevada
To afford this payment of $807/mo in Nevada, you'd need a household income of approximately $35K/year (28% rule). That's the standard guideline lenders use to determine what you can comfortably spend on housing.
See what a $30K salary can afford →Closing Costs in Nevada
Estimated closing costs in Nevada: $2K (1.5% of purchase price). Nevada also charges a 0.52% transfer tax, which may add $520 to your transaction costs.
What to Know About a $100K Mortgage in Nevada
With 10% down ($10,000), your loan of $90,000 at 6.5% over 30 years produces a principal and interest payment of $569/mo. Adding Nevada's 0.53% property tax ($44/mo) and $1,700/yr insurance ($142/mo) brings your total to $807/mo. Because you're putting less than 20% down, PMI adds $53/mo until you reach 20% equity.
Over the full 30-year term, you'll pay approximately $114,790 in total interest. Even a small rate reduction makes a big difference — dropping from 7.0% to 6.5% on this loan saves about $10,768 over the life of the loan.