Free Tool · Clark County & Nevada
Nevada Refinance Guide & Mortgage Savings Calculator
Refinancing replaces your existing mortgage with a new loan — typically to lower your interest rate, reduce your monthly payment, access equity, or change your loan terms. This guide covers the four main refinance types available to Nevada homeowners and investors, what to expect at closing, and how to calculate whether refinancing makes financial sense for your situation.
THE FOUR TYPES
Nevada Refinance Options
MOST COMMON
Rate & Term Refinance
The most straightforward refinance — you replace your current loan with a new one at a lower interest rate, a shorter or longer term, or both. No cash is taken out. Your loan balance stays roughly the same.
— Lower your interest rate and monthly payment
— Switch from a 30-year to a 15-year loan
— Convert from an ARM to a fixed-rate loan
— Typically requires 620+ credit score (conventional)
— Most lenders require at least 20% equity
BEST FOR: LOWERING LONG-TERM COSTS
EQUITY ACCESS
Cash-Out Refinance
You refinance for more than you owe and receive the difference in cash. Common for home improvements, debt consolidation, or funding investment properties. Your new loan balance will be higher than your existing mortgage.
— Access equity without selling the property
— Most lenders cap at 80% LTV (20% equity must remain)
— Higher rates than rate & term refinance
— Interest may be tax-deductible if funds used for home improvements
— Popular for Nevada investment property owners
NOTE: INCREASES YOUR LOAN BALANCE
FHA BORROWERS
FHA Streamline Refinance
A simplified refinance program for existing FHA loan holders. Designed to lower your rate and payment with minimal documentation and no appraisal required in most cases. You must already have an FHA loan to qualify.
— No appraisal required in most cases
— Reduced income and credit documentation
— Must have made at least 6 months of payments on current FHA loan
— Must result in a "net tangible benefit" (lower payment or rate)
— Upfront and annual MIP still required
BEST FOR: EXISTING FHA BORROWERS
VETERANS & MILITARY
VA IRRRL
The Interest Rate Reduction Refinance Loan (IRRRL) — also called the VA Streamline — allows eligible veterans and service members to refinance an existing VA loan with minimal paperwork, no appraisal, and no out-of-pocket costs in most cases.
— Must already have a VA loan on the property
— No appraisal or income verification typically required
— No out-of-pocket costs — fees rolled into the loan
— VA funding fee: 0.5% (may be waived for disabled veterans)
— Must result in a lower interest rate (with limited exceptions)
BEST FOR: ELIGIBLE VETERANS WITH VA LOANS
WHAT YOU'LL PAY
Refinance Closing Costs in Nevada
Nevada refinance closing costs typically run between 2% and 5% of the loan amount. Unlike a purchase transaction, there is no seller — so the borrower pays all closing costs. Some costs can be rolled into the new loan balance.
Cost Item
Typical Range
Who Charges It
Notes
Lender's Title Insurance
$300–$900+
Platinum Title
Required by all lenders. Protects lender's interest in the property.
Escrow Fee
$350–$800
Platinum Title
Paid to the escrow company to manage the closing. Based on loan amount.
Recording Fees
$65–$125
Platinum Title
Clark County charges to record the new deed of trust.
Loan Origination Fee
0.5%–1% of loan
Lender
Charged by your lender to process the new loan.
Appraisal Fee
$500–$750
Appraiser
Not required for FHA Streamline or VA IRRRL in most cases.
Credit Report Fee
$25–$50
Lender
Charged to pull your credit during the application.
Prepaid Interest
Varies
Lender
Interest from closing date to end of the month.
Nevada Transfer Tax
None
N/A
Nevada does NOT charge transfer tax on refinances — only on property sales.
The Nevada Refinance Process
STEP BY STEP
Refinancing is a multi-step journey. We have outlined the process below to help you track your progress from your initial goal setting to the final signing at Platinum Title & Escrow.
01
Determine Your Goal
Decide what you want to achieve — lower rate, lower payment, shorter term, or cash out. Your goal determines which refinance type is right for you and whether it makes financial sense given current rates.
LENDER STEP
Shop Lenders & Get Loan Estimates
Contact at least 3 lenders for Loan Estimates. Compare rates, fees, and terms carefully. Even a 0.25% rate difference can mean thousands of dollars over the life of the loan.
LENDER STEP
Submit Your Application
Provide your chosen lender with income documentation, tax returns, bank statements, and the property information. For FHA Streamline and VA IRRRL, documentation requirements are significantly reduced.
Appraisal (if required)
Most conventional and cash-out refinances require an independent appraisal. FHA Streamline and VA IRRRL typically waive this requirement. The appraiser will verify the property's current market value in Clark County.
05
PLATINUM TITLE STEP
Title Search & Title Insurance
Platinum Title & Escrow conducts a title search to verify there are no new liens or encumbrances since your original purchase. A new lender's title insurance policy is issued to protect the lender's interest in the refinanced loan.
LENDER STEP
Review Your Closing Disclosure
Your lender must provide a Closing Disclosure at least 3 business days before closing. Compare it carefully to your original Loan Estimate and flag any differences immediately.
07
PLATINUM TITLE STEP
Sign & Close at Platinum Title & Escrow
Sign your refinance documents at our Las Vegas or Boulder City office, or via mobile notary. Once all documents are signed and the rescission period passes, your new loan funds and the old loan is paid off.
Right of Rescission (Owner-Occupied)
For refinances on your primary residence, federal law gives you 3 business days after signing to cancel the transaction without penalty. This does not apply to investment properties or purchase loans.
02
03
04
06
08
Check Your Break-Even Point First
If you plan to sell or move within 2–3 years, refinancing may not make sense even if you can get a lower rate. Use the calculator above before committing.
Investment Properties Cost More
Refinancing a Nevada investment property typically requires a higher credit score (700+), more equity (25–30%), and carries higher interest rates than owner-occupied refinances.
Rolling Costs Into the Loan
You can often roll closing costs into your new loan balance to avoid out-of-pocket expenses. This increases your loan amount and monthly payment slightly, but preserves your cash.
Nevada Refinance Tips
BEFORE YOU REFINANCE
Nevada Has No Transfer Tax on Refinances
Unlike a property sale, Nevada does not charge Real Property Transfer Tax on a refinance transaction — a meaningful cost saving compared to some other states.
Watch for Prepayment Penalties
Check your current loan documents for prepayment penalties before refinancing. Most conventional loans don't have them, but some older loans or private loans may.
Lock Your Rate at the Right Time
Rate locks typically last 30–60 days. Lock too early and you may need an extension (which costs money). Lock too late and you risk rates rising before closing.
Refinancing in Nevada: What You Need to Know
Nevada homeowners and real estate investors refinance for many reasons — to take advantage of lower interest rates, access equity built up in their property, shorten their loan term, or eliminate mortgage insurance. The refinance process in Nevada follows the same general steps as a purchase closing, but with some key differences.
One important Nevada-specific advantage: the state does not charge Real Property Transfer Tax on refinance transactions, unlike some other states where transfer taxes apply to any change in financing. This makes refinancing in Nevada somewhat less expensive in terms of government fees.
Platinum Title & Escrow, LLC handles refinance closings for homeowners and investors across Las Vegas, Henderson, Summerlin, North Las Vegas, and Boulder City. Contact July Fitzgerald, Senior Escrow Officer at (702) 498-4782 or JFitzgerald@Platinum-Title.net to open your refinance escrow.