Renting looks cheaper
The sticker trap
The monthly rent can look lower than a mortgage — but it builds no equity and tends to rise every year. Compare the full picture, not just the first payment.
Las Vegas · Rent vs Own Tool
Rent vs own calculator:compare rent with potential equity.
Rent paid vs equity built. Side by side.
Compare your long-term rent with the equity a conventional loan could build over time — illustrative and balanced. Customize the dashboard, then request a local Las Vegas review. Educational estimate only; options subject to approval.
Las Vegas, NV · Licensed in 33 states
4.9 ★ rated
750+ reviews
A+ Accredited
BBB · since 2004
Quick answer — Estimate your conventional payment and compare 3%, 5%, 10%, and 20% down with removable PMI — priced in-house by a local Las Vegas lender. Estimates only.
Led by Vatche Saatdjian · Las Vegas mortgage expert since 2004 · NMLS #65506
What this calculator shows you
Read your conventional estimate with confidence.
Here’s exactly what this tool includes, what they leave out, and why your real figure may differ — so you can read every estimate with clear expectations.
What it shows
The tool estimates your estimated conventional payment across 3%, 5%, 10%, and 20% down — principal & interest, removable PMI, taxes, and insurance.
What it doesn’t include
It doesn’t lock your exact rate, final closing costs, reserves, or HOA dues.
Why your real number may differ
Every figure is a labeled estimate. Credit, loan amount, occupancy, LTV, points, and conforming-vs-jumbo limits all move the real number.
Upfront cost factors
Beyond the monthly payment, your cash to close includes down payment, closing costs, prepaids, and any financed fees — confirmed in a local review, not assumed.
Payment range drivers
Your rate, term, taxes, insurance, and credit profile all move the monthly number. Eligible borrowers see a real range after review — subject to credit approval.
Next-step checklist
When you’re ready: gather income docs, check your timeline, and book a no-pressure local review. Estimates only — program guidelines apply.
Plan before you move
Know your mortgage numbers before you move.
Conventional loans offer flexibility from 3% down to 20%+ — and PMI that disappears as your equity grows. We organize what matters so you can plan with less guessing.
$3,333/mo
Sample estimated payment · $475,000 home · 5% down · PMI removable at 20%
5%
down
Principal & interest$2,742
PMI (until 20%)$226
Taxes & insurance$365
Low-down option
$14,250
3% down — first-time buyers
PMI estimate
$226
Removable at 20% equity
20% benchmark
$95,000
No PMI at 20% down
Est. cash to close
~$38,000
Down + closing costs
Estimate only. Not a Loan Estimate or a commitment to lend. Final terms depend on credit, income, property, program guidelines, and approval. Not all borrowers qualify for 3% down.
Question 1 of 520%
Are you buying or refinancing?
What price range are you considering?
How much do you expect to put down?
Which area are you looking in?
When do you want to start?
Last stepAlmost there
Where should we send your personalized numbers?
Your sample estimate
$3,333/mo
$475,000 home · 5% down · PMI removable at 20%
Down payment
$23,750
Cash at closing
PMI (monthly)
$226
Removable at 20% equity
Est. cash to close
~$38,000
Down + closing costs
Loan amount
$451,250
After down payment
Try another down payment
What affects this number mostPMI applies below 20% equity and is removable later as you build equity. Increasing your down payment lowers both PMI and your monthly payment.
Your next best step
Turn this sample into a real, human-reviewed mortgage number — no pressure, no commitment.
Estimate only. Not a Loan Estimate or a commitment to lend. Final terms depend on credit, income, property, program guidelines, and approval. NMLS #65506 · Equal Housing Lender.
Plan the rest of your move
| What to review | Why it matters | How Valley West helps |
|---|---|---|
| Credit score | Better scores unlock better conventional pricing | We review early and suggest ways to strengthen it |
| Down payment amount | 3% starts you; 20% removes PMI entirely | We model the payment at each scenario so you can decide |
| PMI removal plan | PMI is temporary — knowing when it drops matters | We show the exact month PMI cancels at your equity pace |
| Conforming vs. jumbo | Clark County has a specific 2026 conforming limit | We confirm whether you're conforming or jumbo — pricing differs |
| Monthly payment comfort | Keeps the home workable for the long run | We model a payment range that fits your budget |
| Preapproval status | A strong letter makes your offer stand out | Human-reviewed conventional preapproval, not an auto-decision |
What these numbers mean
A conventional loan offers the most flexibility of any program — Las Vegas and Nevada buyers can put as little as 3% down or go up to 20% to skip mortgage insurance entirely. Below 20% equity you pay PMI (private mortgage insurance), but unlike FHA's MIP, conventional PMI is removable once you reach 20% equity.
Your cash to close is your down payment plus closing costs — title, escrow, appraisal, and prepaids — which often run 2–4%. These figures are examples to help you compare conventional down payment scenarios in Las Vegas and Nevada; they are not an offer, and not all borrowers qualify for 3% down.
Common mistake
Assuming you must put 20% down. Many Las Vegas buyers choose 3–5% down and treat PMI as a temporary cost — then remove it once equity hits 20%, rather than waiting years to save a full 20% down payment.
Quick facts
| Minimum down payment | 3% |
| Down payment to skip PMI | 20% |
| PMI (typical estimate) | ~0.6%/yr |
| PMI removable at | 20% equity |
| Typical closing costs | 2–4% |
| Sample Las Vegas price | $475,000 |
Next step: when you are ready, a local Valley West Mortgage review compares your down payment scenarios and a real payment range based on verified information.
Want a clearer next step?
Start with a local mortgage review and see what options may fit based on verified information — no pressure, no guessing.
All loans are subject to credit, income, property, and underwriting approval. This preview is for general guidance only and is not a loan approval or commitment to lend. Valley West Mortgage · NMLS #65506.Figures shown are illustrative examples only and your numbers may vary. All loans are subject to credit, income, property, and underwriting approval. Valley West Mortgage NMLS #65506 · Equal Housing Lender.
Rent vs building equity
Two honest ways to spend a housing payment.
Renting and owning each have a real place. Here’s a balanced look at what your monthly dollars do in each — so you can decide what fits your timeline, not a sales pitch.
Renting
Flexible, simple, no upkeep
- Lower commitment — easy to move for work or life changes
- No maintenance, property tax, or insurance to manage
- Payments build your landlord’s equity, not yours
- Rent can rise over time with the market
Building equity
Ownership that can compound
- Each payment chips away at the loan and builds equity
- Conventional loans start near 3% down; PMI can drop off at 20% equity
- Value may rise over time — but is never guaranteed
- Adds taxes, insurance, maintenance, and PMI until you reach 20% equity
When renting may still make sense: a short time horizon, an uncertain move, or a stretch budget. Buying is worth reviewing when you plan to stay several years and the full monthly cost — not just the payment — fits comfortably. A local review helps you compare honestly.
Avoid these
Common rent vs own mistakes to skip.
A few assumptions trip people up when they compare renting and owning. Keep these in mind as you read any estimate.
Forgetting taxes & insurance
The full payment
Owning adds property taxes, homeowners insurance, and upkeep on top of principal and interest. Budget for all of it — these are estimates only.
Underestimating upfront costs
Cash to close
Closing costs, prepaids, and any financed fees affect the cash you bring. A local review confirms the real number for eligible buyers — subject to credit approval.
Treating appreciation as a given
No guarantees
Home values can stay flat or fall — they are not guaranteed to rise. Model a low, likely, and high range instead of one optimistic number.
Waiting without a review
Know where you stand
You don’t have to decide today — but a quick, no-pressure local review shows where you actually stand, with no credit pull to begin.
Going it alone
Local guidance
Online estimates miss your full situation. A local Las Vegas team weighs your timeline, credit, and goals — program guidelines apply.
The most flexible loan
A loan built for buyers who want options.
Conventional financing flexes from 3% down to 20%+ — and a local review is the fastest way to compare what each scenario costs you.
Compare 3%, 5%, and 20% down
Your down payment changes PMI, monthly payment, and the cash you need at closing — we model each scenario side by side so you can choose.
From 3% downKnow when PMI applies
PMI affects your monthly cost below 20% equity — but unlike FHA, conventional PMI is removable later based on equity and program rules.
PMI removable at 20%Choose the cleaner path
A conventional review compares the cash needed, PMI, and approval fit — so you pick the option that actually works for your budget.
Conforming & jumbo
Compare conventional options
A short, no-pressure review compares your down payment scenarios and gives you a real payment range — not a guess.
Start my mortgage review No obligation. Secure online start. Options subject to approval.Plan with a local expert
Turn your estimate into a real plan.
Here’s exactly what a no-pressure review with a local Las Vegas mortgage specialist covers — and the questions Nevada buyers ask us most.
- A side-by-side down-payment comparison (3% / 5% / 10% / 20%)
- When PMI applies and your timeline to remove it
- Conforming vs. jumbo check against the 2026 Clark County limit
- Your full cash to close, reserves included
- How your credit tier shapes pricing
- Rate-and-term vs. cash-out refinance fit
A short call confirms your fit and turns these estimates into a real payment range — no pressure.
Start my mortgage reviewWhen does PMI come off a conventional loan?
Conventional PMI is removable — typically once you reach 20% equity (and automatically at 22% by law), unlike FHA’s MIP. We model the timeline in the PMI tab above.
What is the 2026 conforming loan limit in Clark County?
Loans above the local conforming limit become jumbo or high-balance, with their own pricing and reserve rules. We confirm your category before you fall in love with a price. See today’s rates.
Conventional loans are the most widely used mortgage type in the United States, financing the majority of home purchases each year.Source: Mortgage Bankers Association. Figures for education only; eligibility and terms are subject to approval. Valley West Mortgage NMLS #65506 · Equal Housing Lender.
Updated June 16, 2026 · Reviewed by Valley West Mortgage · NMLS #65506 · Las Vegas, Nevada
How equity builds
What shapes your conventional home equity
Equity is the part of your home you actually own — it grows as you pay down a conventional loan and if the home value rises. Here’s what each lever is, and which ones you can influence as a Las Vegas buyer.
Principal paydown
Builds every month
Each payment retires a slice of your loan balance — and unlike rent, that slice becomes equity you own. The share going to principal grows a little every year.
Your down payment
Where equity starts
Conventional loans start as low as 3–5% down — that down payment is your first slice of equity, and it grows from there.
Time in the home
The biggest lever
Equity compounds. The longer you stay, the more paydown and appreciation stack up — which is why a longer planned stay usually tips rent-vs-own toward owning.
Extra payments
Optional accelerator
Putting even a little extra toward principal shrinks the balance faster and builds equity ahead of schedule — there’s no prepayment penalty on a conventional loan.
Tapping equity later
Use it wisely
Once you’ve built equity you can borrow against it with a cash-out refinance or HELOC — but that lowers the equity you hold, so weigh it against your long-term goal.
Home appreciation
Market-driven
If your home’s value rises, equity grows on top of what you pay down. Las Vegas values move year to year and are never guaranteed — model appreciation conservatively.
How it works
How your mortgage comes together.
A simple, clear path from first hello to the keys in your hand — with a local Las Vegas team the whole way.
01
Day one
Connect
A quick call, text, or the online form gets you started. No paperwork and no credit pull to begin.
02
Same day
Share your goal
Tell us your price range or the home you love. We review your numbers and walk through your conventional options.
03
Days, not weeks
Get your real number
A human-reviewed preapproval — priced in-house by a local Las Vegas team, not an automated decision.
04
Weeks 1–3
Lock & underwrite
We lock your rate and handle underwriting in-house — you stay updated the whole way.
05
Closing day
Close
Sign at a local Las Vegas title office and get your keys — on your timeline.
Henderson, NVThe payoff
Then the part that actually matters.
You get the keys to your Las Vegas home — and a local lender you’ll happily recommend to everyone you know.
Get pre-approved
Why a local Las Vegas mortgage lender
Conventional loans, compared honestly by a local team.
A conventional loan calculator models your payment — a local lender helps you choose the path. Conventional starts as low as 3% down for qualifying buyers, with PMI that’s temporary and removable at 20% equity. We price in-house and model 3%, 5%, 10%, and 20% down side by side.
Serving Las Vegas, Henderson, North Las Vegas, and Clark County since 2004 — we confirm conforming vs. jumbo limits and deliver human-reviewed preapprovals.
Quick facts
- Loan type
- Conventional, jumbo, high-balance
- Minimum down
- 3% for qualifying buyers
- PMI
- Removable at 20% equity
- 2026 conforming
- ~$832,750 baseline
- Licensed
- NMLS #65506 · 33 states
- Local since
- 2004
3%
Minimum down payment
20%
Equity removes PMI
~30 d
Typical time to close
2004
Serving Las Vegas since
Conforming limit is an estimate; Clark County may differ. Estimates only — not a Loan Estimate or commitment to lend. Valley West Mortgage · NMLS #65506 · Equal Housing Lender.
From the buyers we serve
Read what buyers say.
★★★★★
We put 5% down and they showed us exactly when PMI would drop. No surprises, just a clear plan.
Priya & Sam R. · Summerlin
★★★★★
Refinanced out of our FHA loan into a conventional and dropped the mortgage insurance entirely.
Marcus D. · Las Vegas
★★★★★
Needed a jumbo for our move-up home. They shopped it hard and got a rate I didn't think was possible.
The Whitfield Family
★★★★★
Every number explained clearly. No surprises at closing — exactly what they told us up front.
Jenna L. · Centennial Hills
★★★★★
A real local team that picked up the phone every time. Felt like they were on our side.
Aaron B. · Enterprise
★★★★★
Compared three lenders for me and saved real money. Smooth from application to closing.
Sofia N. · Spring Valley
★★★★★
They beat my bank’s quote with a rate I couldn't find anywhere — smooth, fast, and honest the whole way.
Marcus T. · Henderson, NV
★★★★★
Closed in under a month. Every question answered by a real local person, never a call center.
Dana R. · Las Vegas, NV
★★★★★
No surprise fees, no pressure. They explained every number until it actually made sense to us.
Priya & Sam · North Las Vegas
Customer experiences may vary. Reviews do not guarantee loan approval, rates, terms, or outcomes.
The flexible path to
your front door.
One application. One local team, lower rates, and a clear path to your strongest conventional option — 3–20% down, no upfront MIP, lower rates.