Greater Nevada Mortgage Rates, Fees & Info
RENO, NVLEI: 549300QZED00YTPAWQ69
Tax ID: 88-0500878
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Mortgage Data
Review & Overview
Greater Nevada is a smaller mortgage company specializing in Home Improvement and Home Purchase loans. Greater Nevada has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Reno, Las Vegas, Gardnerville Ranchos, Carson City, and Fernley among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Greater Nevada has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Greater Nevada is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.70% | 11/17/24 |
| 30 Year Conventional Refi | 6.63% | 11/17/24 |
| 30 Year Cash-out Refi | 6.82% | 11/17/24 |
| 30 Year FHA Purchase | 7.78% | 11/17/24 |
| 30 Year FHA Refi | 7.32% | 11/17/24 |
| 30 Year VA Purchase | 6.76% | 11/17/24 |
| 30 Year VA Refi | 6.66% | 11/17/24 |
| 30 Year USDA Purchase | 6.83% | 11/17/24 |
| 15 Year Conventional Purchase | 6.37% | 11/17/24 |
| 15 Year Conventional Refi | 6.15% | 11/17/24 |
| 15 Year Cash-out Refi | 6.15% | 11/17/24 |
| 15 Year VA Refi | 6.90% | 11/17/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Greater Nevada Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
642Origination Dollar Volume (All Markets)
$108,850,000Awards
GREATER NEVADA - 2023
GREATER NEVADA is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Greater Nevada's average 30 year fixed mortgage rate was
6.39%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.09%.
Relative Fees (Closing Costs)
Greater Nevada's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,318.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| RENO, NV (FHA|USDA|VA) | 279 | $45,965,000 | $164,749 | $5,302 | 7.77% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 67 | $17,735,000 | $264,701 | $7,043 | 7.23% |
| Gardnerville Ranchos, NV (FHA|USDA|VA) | 83 | $11,585,000 | $139,578 | $6,570 | 7.86% |
| CARSON CITY, NV (FHA|USDA|VA) | 86 | $10,870,000 | $126,395 | $5,703 | 7.82% |
| Fernley, NV (FHA|USDA|VA) | 58 | $8,670,000 | $149,483 | $6,170 | 7.53% |
| Elko, NV (FHA|USDA|VA) | 30 | $6,830,000 | $227,667 | $7,260 | 6.90% |
| Fallon, NV (FHA|USDA|VA) | 10 | $2,410,000 | $241,000 | $9,307 | 6.66% |
| Outside of Metro Areas | 17 | $2,185,000 | $128,529 | $5,325 | 6.88% |
| Winnemucca, NV (FHA|USDA|VA) | 6 | $1,020,000 | $170,000 | $7,778 | 7.04% |
| Pahrump, NV (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $8,911 | 7.21% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $6,575 | 6.81% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,317 | 6.38% |
Similar Lenders
We use machine learning to identify the top lenders compared against GREATER NEVADA based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 92
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Product Mix
For 2023, Greater Nevada's most frequently originated type of loan was HELOC, with 401 originations. Their 2nd most popular type was Conventional, with 205 originations.
Loan Reason
For 2023, Greater Nevada's most frequently cited loan purpose was Home Improvement, with 393 originations. The 2nd most popular reason was Home Purchase, with 168 originations.
Loan Duration/Length
For 2023, Greater Nevada's most frequently cited loan duration was Other, with 402 originations. The 2nd most popular length was 30 Year, with 234 originations.
Origination Fees/Closing Costs
Greater Nevada's average total fees were $6,318, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 145 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 304 | $26,560,000 | $87,368 |
| 7-8% | 132 | $18,480,000 | $140,000 |
| 6-7% | 119 | $35,425,000 | $297,689 |
| 5-6% | 87 | $28,385,000 | $326,264 |
During 2023, Greater Nevada's average interest rate for loans was 6.39%, while their most frequently originated rate bucket for loans was Over 8%, with 304 originations.
Loan Sizing
2023 saw Greater Nevada place emphasis on $100,000 or less loans with 299 originations, totaling $17,875,000 in origination value.
Applicant Income
Greater Nevada lent most frequently to those with incomes in the $100k-150k range, with 169 originations. The second most popular income band? $75k-100k, with 157 originations.
Applicant Debt to Income Ratio
Greater Nevada lent most frequently to those with DTI ratios of 30-36%, with 115 originations. The next most common DTI ratio? 20-30%, with 102 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.96%
Greater Nevada has an average approval rate.
Pick Rate
Approvals leading to origination85.51%
Greater Nevada has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 642 | $108,850,000 | $169,548 |