Conventional loan in Nevada: what it costs on the median home, and when PMI ends

Conforming limit $832,750, median about $450,000, property tax about 0.55%: those three figures decide most of what a conventional mortgage costs in Nevada. Below, the down payment and monthly numbers at 3%, 5%, 10% and 20% down, the month PMI can end, and the state rules a conventional borrower here should know.

Conforming or jumbo in Nevada?

Two numbers decide the question in Nevada: the 2026 conforming limit of $832,750 and the price you pay. Keep the loan at or under the limit — by price, by down payment, or with a conforming first plus a second lien — and you get Fannie/Freddie pricing and flexibility (3% down programs, automated underwriting, appraisal waivers). At the state median of $450,000, every scenario below is conforming. Every Nevada county is in the table below; see conforming loan limits and jumbo loans.

Nevada loan limits, county by county (2026)

FHFA sets the limit county by county, but for 2026 every one of Nevada’s 17 counties sits at the national baseline: $832,750 for a one-unit home, $1,066,250 for two units, $1,288,800 for three and $1,601,750 for four. The table is here so you can confirm your county rather than assume.

Source: FHFA, Conforming Loan Limit Values for 2026 (county list, mortgages acquired in calendar year 2026). Limits are for Fannie Mae and Freddie Mac loans; FHA and VA use their own county figures.

Monthly cost on a $450,000 Nevada home

Worked at an illustrative 6.5% over 30 years on the $450,000 median. PMI uses order-of-magnitude annual rates by down payment; tax uses Nevada’s approximate 0.55% effective rate. Your county, score and insurer will move every column.

For other loan amounts and rates, the payment tables show principal and interest, total interest and the PMI break points.

The PMI timeline on a Nevada purchase

Federal rules, identical in Nevada: you may request cancellation at 80% of the original value and the servicer must cancel at 78%. On the scheduled amortization alone, the 5% down loan above reaches 80% after about 10 years and 4 months and 78% after about 11 years and 3 months; the 10% down loan, 80% after about 7 years and 11 months; the 3% down loan, 80% after about 11 years and 1 months. At roughly $267 a month on the 5% scenario, that is about $33,108 of PMI over the period — the strongest argument for extra principal payments or a value-based cancellation request once prices rise.

Closing costs and taxes in Nevada

Nevada purchases and refinances close through an escrow officer at a licensed title or escrow company; attorneys are rarely involved unless a dispute or an unusual vesting arises. Nevada is a dry-funding state, meaning the deed of trust is often recorded before the lender’s wire arrives, and the parties are not funded until escrow confirms recording. Escrow and title fees in Clark and Washoe counties are commonly split by custom between buyer and seller as set in the purchase agreement.

Nevada imposes no mortgage or intangible tax; a deed of trust is recorded for a flat recorder fee in the county where the property sits. The real property transfer tax under NRS chapter 375 attaches to the deed only, at $1.95 per $500 of value statewide plus county additions (Clark County totals $2.55 per $500), and is usually paid by the seller in Las Vegas custom. A refinance with no change in ownership records for fees alone. Nevada’s real property transfer tax is $1.95 per $500 (0.39%) statewide, rising to $2.55 per $500 (0.51%) in Clark County; it is customarily paid by the seller in southern Nevada and split in the north.

Nevada closings use escrow companies; buyer costs of roughly 2% to 3% cover escrow, lender’s title policy, lender fees and prepaids, and sellers customarily pay the owner’s title policy.

Three Nevada rules to read before signing

Prepayment. Nevada does not broadly prohibit prepayment penalties on conventional home loans, so the federal qualified-mortgage limits (no penalty after year three, declining caps before that) are usually the binding rule. The federal ability-to-repay rule caps penalties tightly and bans them on adjustable or higher-priced loans.

Spouses and title. Nevada is a community property state (NRS chapter 123), so earnings and debts taken on during the marriage presumptively belong to both spouses.

Homestead. NRS 115.010 shields a primary residence from general creditors up to a dollar ceiling that the Legislature raised to $605,000 in 2019; unlike many states, the protection must be claimed by recording a declaration of homestead with the county recorder.

The complete state layer — licensing, predatory-lending limits, disclosures, foreclosure — is on mortgage laws in Nevada.

Frequently asked questions

What is the conforming loan limit in Nevada for 2026?

For 2026, $832,750 (one unit) in all 17 Nevada counties — the national baseline, with no county above it. The county table on this page lists the two-, three- and four-unit figures. Above the limit, the loan is jumbo and follows lender rules.

When can I cancel PMI on a conventional loan in Nevada?

Federal law, not Nevada law, sets the dates: request at 80% of original value, automatic at 78%, and in any case at the loan’s midpoint. On the median Nevada price with 5% down at an illustrative 6.5%, that is roughly 10 years and 4 months and 11 years and 3 months respectively if you only make the scheduled payment.

Does Nevada add anything to a conventional loan’s closing costs?

Nevada imposes no mortgage or intangible tax; a deed of trust is recorded for a flat recorder fee in the county where the property sits. Nevada’s real property transfer tax is $1.95 per $500 (0.39%) statewide, rising to $2.55 per $500 (0.51%) in Clark County; it is customarily paid by the seller in southern Nevada and split in the north. Nevada closings use escrow companies; buyer costs of roughly 2% to 3% cover escrow, lender’s title policy, lender fees and prepaids, and sellers customarily pay the owner’s title policy.

Related: Renovation loans: HomeStyle, CHOICERenovation and FHA 203(k) compared, Loan-level price adjustments: why two borrowers get different rates on the same loan, Paying off your mortgage early: extra payments, biweekly plans and the actual math, Piggyback loans (80/10/10): a second mortgage instead of PMI. First home in Nevada: programs and assistance. Hub: Conventional loan.