Mortgage Insights for Northern Nevada Buyers

Before shopping for a loan in Reno, Sparks, Carson City, or Lake Tahoe, keep these regional factors in mind:

1. No State Income Tax

With no state income tax, Nevada buyers often show stronger debt-to-income (DTI) ratios, which can help with loan qualification.

2. Property Tax Caps

Primary residences are capped at ~3% annual increases; non-primary at ~8%. Document your occupancy plans so escrow estimates use the correct cap.

3. How Regional Factors Affect Appraisals

Markets vary between mountain, desert, and lakefront areas. Lenders and appraisers who understand these regional differences help provide valuations that align with current market conditions.

4. Jumbo Loan Limits

In Washoe County, loans above $806,500 are jumbo. These usually require higher credit scores, larger down payments, and added documentation.

5. Weather Delays

Winter storms in Tahoe/Incline can slow inspections and appraisals. Plan extra time before rate locks expire.

6. Short-Term Rentals

Some loan programs won’t count projected Airbnb/VRBO income. Ask your lender how rental income is treated for vacation or investment properties.

7. Rate Buy-Downs

Sellers may offer temporary or permanent buy-downs. Compare savings against a price reduction to see what benefits you most.

8. Pre-Approvals with Strong Track Records

In competitive markets, a pre-approval from any lender with a reputation for reliable closings can give sellers more confidence in your offer.