Silver State Schools Service Company Mortgage Rates, Fees & Info

LAS VEGAS, NV

LEI: 549300WSQPVY1NRH6062

Tax ID: 88-0062898

5 stars - out of 5 stars, based on 18 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Silver State Schools Service Company is a smaller mortgage company specializing in Other and Refi loans. Silver State Schools Service Company has a high proportion of conventional loans. Their top markets by origination volume include: Las Vegas, Pahrump, Gardnerville Ranchos, and Reno among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Silver State Schools Service Company has a below average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Silver State Schools Service Company 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 about average 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 5.80% 3/28/23
    30 Year Conventional Purchase 6.55% 3/28/23
    30 Year Conventional Refi 6.76% 3/28/23
    30 Year Cash-out Refi 6.69% 3/28/23
    15 Year Conventional Purchase 5.48% 3/28/23
    15 Year Conventional Refi 6.31% 3/28/23
    15 Year Cash-out Refi 6.31% 3/28/23
    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.


    Originations

    342

    Origination Dollar Volume (All Markets)

    $41,290,000

    Relative Rate

    Silver State Schools Service Company's average 30 year fixed mortgage rate was 4.92%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.16%.

    Relative Fees (Closing Costs)

    Silver State Schools Service Company's average total fees/closing costs for a 30 year fixed rate mortgage were $5,755.

    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 $4,750.

    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
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 337 $41,065,000 $121,855 $5,280 5.80%
    Pahrump, NV (FHA|USDA|VA) 2 $150,000 $75,000 $0 8.63%
    Gardnerville Ranchos, NV (FHA|USDA|VA) 1 $35,000 $35,000 $0 9.75%
    Outside of Metro Areas 1 $25,000 $25,000 $0 4.50%
    RENO, NV (FHA|USDA|VA) 1 $15,000 $15,000 $0 4.50%
    Silver State Schools Service Company's top markets include Las Vegas, Pahrump, Gardnerville Ranchos, and Reno among others.

    Their top states include:
  • Nevada (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against SILVER STATE SCHOOLS SERVICE COMPANY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    S&S Financial
    Similarity Rank: 264
    ALOHA PACIFIC
    Similarity Rank: 536
    SIMPLIFI MORTGAGE, LLC
    Similarity Rank: 1074
    ALL WESTERN MORTGAGE, INC.
    Similarity Rank: 1202
    Bank Iowa
    Similarity Rank: 1470
    SILVER STATE SCHOOLS SERVICE COMPANY, LLC
    Similarity Rank: 1810
    AMERICAN PORTFOLIO MORTGAGE CORPORATION
    Similarity Rank: 1957
    ONE NEVADA CREDIT UNION
    Similarity Rank: 2136
    Fremont Bank
    Similarity Rank: 2847
    Cf Bank
    Similarity Rank: 2886

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 201 $15,775,000 $78,483 n/a 5.54%
    Conventional 141 $25,515,000 $180,957 $5,280 6.22%

    For 2022, Silver State Schools Service Company's most frequently originated type of loan was HELOC, with 201 originations. Their 2nd most popular type was Conventional, with 141 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 189 $13,745,000 $72,725 $0 6.40%
    Refi 77 $15,525,000 $201,623 $4,657 4.75%
    Home Improvement 50 $3,480,000 $69,600 $0 5.69%
    Home Purchase 25 $8,215,000 $328,600 $6,561 4.99%
    Cash Out Refi 1 $325,000 $325,000 $6,945 5.00%

    For 2022, Silver State Schools Service Company's most frequently cited loan purpose was Other, with 189 originations. The 2nd most popular reason was Refi, with 77 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 204 $15,850,000 $77,696 $0 5.59%
    10 Year 59 $4,225,000 $71,610 $1,971 7.32%
    30 Year 55 $16,825,000 $305,909 $5,755 4.92%
    15 Year 14 $2,710,000 $193,571 $3,716 6.18%
    20 Year 6 $1,570,000 $261,667 $5,470 4.79%
    5 Year 4 $110,000 $27,500 $0 8.00%

    For 2022, Silver State Schools Service Company's most frequently cited loan duration was Other, with 204 originations. The 2nd most popular length was 10 Year, with 59 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 72 $6,240,000 $86,667
    $2k-3k 18 $4,220,000 $234,444
    $3k-4k 17 $4,895,000 $287,941
    $5k+ 13 $5,015,000 $385,769
    $4k-5k 10 $3,930,000 $393,000
    $1k-2k 9 $995,000 $110,556

    Silver State Schools Service Company's average total fees were $5,755, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 72 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 83 $11,115,000 $133,916
    3-4% 65 $9,785,000 $150,538
    Over 8% 52 $2,710,000 $52,115
    5-6% 48 $7,490,000 $156,042
    6-7% 40 $4,230,000 $105,750
    7-8% 38 $3,000,000 $78,947
    2.5-3% 16 $2,960,000 $185,000

    During 2022, Silver State Schools Service Company's average interest rate for loans was 4.92%, while their most frequently originated rate bucket for loans was 4-5%, with 83 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 199 $10,445,000 $52,487 $2,357 6.36%
    $100k-200k 78 $9,840,000 $126,154 $3,944 5.39%
    $200k-400k 52 $14,340,000 $275,769 $5,658 4.71%
    $400k-600k 10 $4,770,000 $477,000 $7,196 4.56%
    $600k-1MM 3 $1,895,000 $631,667 $6,416 4.63%

    2022 saw Silver State Schools Service Company place emphasis on $100,000 or less loans with 199 originations, totaling $10,445,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 92 $10,810,000 $117,500 $5,900 5.88%
    $75k-100k 74 $8,060,000 $108,919 $5,330 5.86%
    $150k-250k 73 $10,965,000 $150,205 $6,295 5.63%
    $50k-75k 54 $4,360,000 $80,741 $4,034 5.88%
    $50k or less 24 $2,150,000 $89,583 $3,840 5.32%
    $250k+ 22 $4,000,000 $181,818 $7,505 6.36%

    Silver State Schools Service Company lent most frequently to those with incomes in the $100k-150k range, with 92 originations. The second most popular income band? $75k-100k, with 74 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 67 $8,485,000 $126,642 $4,545 5.54%
    30-36% 66 $7,380,000 $111,818 $5,527 6.12%
    44% 22 $2,130,000 $96,818 $4,070 7.17%
    <20% 20 $3,140,000 $157,000 $4,835 4.39%
    41% 17 $2,355,000 $138,529 $6,097 6.23%
    42% 16 $2,070,000 $129,375 $8,442 6.35%
    39% 15 $2,485,000 $165,667 $5,922 6.08%
    38% 15 $2,345,000 $156,333 $6,125 6.23%
    45% 14 $1,570,000 $112,143 $4,089 5.79%
    37% 14 $1,870,000 $133,571 $6,870 5.19%
    49% 13 $1,155,000 $88,846 $6,065 5.37%
    47% 13 $1,235,000 $95,000 $4,475 5.01%
    43% 12 $2,290,000 $190,833 $4,179 5.42%
    40% 12 $980,000 $81,667 $4,750 5.86%
    46% 11 $635,000 $57,727 $0 5.82%
    36% 10 $860,000 $86,000 $4,202 6.09%
    48% 5 $305,000 $61,000 $0 5.65%

    Silver State Schools Service Company lent most frequently to those with DTI ratios of 20-30%, with 67 originations. The next most common DTI ratio? 30-36%, with 66 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 264 $31,730,000 $120,189 $5,336 5.80%
    Black 25 $3,525,000 $141,000 $5,378 6.24%
    Asian 28 $3,470,000 $123,929 $4,888 5.81%
    American Indian 7 $1,095,000 $156,429 $4,721 4.95%
    Not provided 10 $920,000 $92,000 $0 5.03%
    Native Hawaiian or Islander 4 $240,000 $60,000 $0 7.81%
    Other Asian 2 $180,000 $90,000 $0 4.50%
    Filipino 2 $130,000 $65,000 $0 7.38%

    Approval Rates

    Total approvals of all applications
    62.00%

    Silver State Schools Service Company has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    95.03%

    Silver State Schools Service Company has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 342 $41,290,000 $120,731

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    342 $41,290,000 $120,731

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 60 $8,300,000 $138,333 $3,412 5.03%
    40-60% 22 $5,470,000 $248,636 $4,741 4.25%
    60-80% 20 $6,890,000 $344,500 $6,317 4.44%
    80-100% 18 $5,860,000 $325,556 $6,540 5.01%
    Under 20% 218 $13,180,000 $60,459 $2,301 6.37%