Silver State Schools Service Company Mortgage Rates, Fees & Info

LAS VEGAS, NV

LEI: 549300WSQPVY1NRH6062

Tax ID: 88-0062898

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 Home Purchase loans. Silver State Schools Service Company has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Las Vegas, Reno, Pahrump, Fernley, and Gardnerville Ranchos among others. We have data for 6 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 a below 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 5.80% 12/9/24
    30 Year Conventional Purchase 6.55% 12/9/24
    30 Year Conventional Refi 6.76% 12/9/24
    30 Year Cash-out Refi 6.69% 12/9/24
    15 Year Conventional Purchase 5.48% 12/9/24
    15 Year Conventional Refi 6.31% 12/9/24
    15 Year Cash-out Refi 6.31% 12/9/24
    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.

    Silver State Schools Service Company Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Silver State Schools Service Company. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    494

    Origination Dollar Volume (All Markets)

    $64,890,000

    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) 482 $63,670,000 $132,095 $3,647 4.91%
    RENO, NV (FHA|USDA|VA) 1 $485,000 $485,000 $8,763 4.75%
    Pahrump, NV (FHA|USDA|VA) 3 $335,000 $111,667 $3,955 3.41%
    Fernley, NV (FHA|USDA|VA) 1 $205,000 $205,000 $6,044 4.75%
    Outside of Metro Areas 6 $150,000 $25,000 $3,103 4.39%
    Gardnerville Ranchos, NV (FHA|USDA|VA) 1 $45,000 $45,000 $0 8.00%
    Silver State Schools Service Company's top markets include Las Vegas, Reno, Pahrump, Fernley, and Gardnerville Ranchos 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.

    Nevada Mortgage Inc.
    Similarity Rank: 363
    ONE NEVADA CREDIT UNION
    Similarity Rank: 700
    LOGIX FEDERAL CREDIT UNION
    Similarity Rank: 828
    Credit Union 1
    Similarity Rank: 944
    SILVER STATE SCHOOLS SERVICE COMPANY, LLC
    Similarity Rank: 1002
    First Federal Bank of Kansas City
    Similarity Rank: 1372
    PINNACLE LENDING GROUP, INC.
    Similarity Rank: 1425
    East West Bank
    Similarity Rank: 1584
    Cathay Bank
    Similarity Rank: 1798
    JFK Financial Inc.
    Similarity Rank: 2639

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 307 $54,505,000 $177,541 $3,631 5.36%
    HELOC 180 $8,720,000 $48,444 n/a 4.12%
    VA 6 $1,440,000 $240,000 $4,820 4.52%
    FHA 1 $225,000 $225,000 $9,290 4.50%

    For 2018, Silver State Schools Service Company's most frequently originated type of loan was Conventional, with 307 originations. Their 2nd most popular type was HELOC, with 180 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 203 $20,195,000 $99,483 $2,099 5.11%
    Home Improvement 118 $6,620,000 $56,102 $896 4.86%
    Home Purchase 113 $27,795,000 $245,973 $6,006 4.60%
    Cash Out Refi 41 $7,355,000 $179,390 $3,664 4.80%
    Refi 19 $2,925,000 $153,947 $3,215 4.82%

    For 2018, Silver State Schools Service Company's most frequently cited loan purpose was Other, with 203 originations. The 2nd most popular reason was Home Improvement, with 118 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 186 $44,100,000 $237,097 $5,206 4.76%
    Other 185 $8,935,000 $48,297 $250 4.31%
    10 Year 83 $5,395,000 $65,000 $417 6.77%
    15 Year 20 $3,150,000 $157,500 $4,159 4.33%
    20 Year 20 $3,310,000 $165,500 $3,522 4.39%

    For 2018, Silver State Schools Service Company's most frequently cited loan duration was 30 Year, with 186 originations. The 2nd most popular length was Other, with 185 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 118 $20,690,000 $175,339
    $<1k 91 $6,505,000 $71,484
    $2k-3k 58 $15,480,000 $266,897
    $3k-4k 21 $6,045,000 $287,857
    $4k-5k 9 $2,345,000 $260,556
    $5k+ 9 $4,475,000 $497,222

    Silver State Schools Service Company's average total fees were $5,206, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 118 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 200 $41,470,000 $207,350
    5-6% 80 $10,940,000 $136,750
    <2.5% 76 $3,540,000 $46,579
    Over 8% 48 $1,990,000 $41,458
    7-8% 33 $1,695,000 $51,364
    3-4% 28 $3,420,000 $122,143
    6-7% 21 $1,305,000 $62,143
    2.5-3% 8 $530,000 $66,250

    During 2018, Silver State Schools Service Company's average interest rate for loans was 4.76%, while their most frequently originated rate bucket for loans was 4-5%, with 200 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 256 $11,220,000 $43,828 $935 5.13%
    $200k-400k 118 $31,570,000 $267,542 $5,509 4.65%
    $100k-200k 108 $15,940,000 $147,593 $3,286 4.61%
    $400k-600k 10 $4,590,000 $459,000 $9,176 4.83%
    $600k-1MM 2 $1,570,000 $785,000 $10,867 5.25%

    2018 saw Silver State Schools Service Company place emphasis on $100,000 or less loans with 256 originations, totaling $11,220,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 122 $14,310,000 $117,295 $3,359 4.97%
    $75k-100k 103 $12,405,000 $120,437 $3,225 4.80%
    $100k-150k 101 $16,325,000 $161,634 $4,534 5.01%
    $150k-250k 72 $10,270,000 $142,639 $3,746 5.37%
    $50k or less 69 $7,475,000 $108,333 $3,374 4.63%
    $250k+ 11 $2,845,000 $258,636 $7,480 4.22%

    Silver State Schools Service Company lent most frequently to those with incomes in the $50k-75k range, with 122 originations. The second most popular income band? $75k-100k, with 103 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 105 $14,815,000 $141,095 $3,761 4.77%
    30-36% 93 $12,395,000 $133,280 $3,710 4.77%
    <20% 38 $4,160,000 $109,474 $2,598 4.40%
    42% 33 $4,235,000 $128,333 $3,463 6.11%
    44% 31 $4,305,000 $138,871 $3,732 5.21%
    38% 26 $2,990,000 $115,000 $3,966 4.75%
    39% 23 $2,355,000 $102,391 $3,720 6.04%
    36% 22 $3,040,000 $138,182 $4,183 4.45%
    43% 21 $2,955,000 $140,714 $3,847 5.26%
    40% 19 $2,385,000 $125,526 $2,828 5.74%
    41% 16 $1,910,000 $119,375 $3,680 5.05%
    45% 15 $1,365,000 $91,000 $4,370 4.93%
    47% 12 $1,960,000 $163,333 $4,581 4.09%
    37% 11 $1,975,000 $179,545 $4,045 4.85%
    49% 10 $1,110,000 $111,000 $2,481 4.17%
    46% 6 $700,000 $116,667 $3,820 3.16%
    50-60% 5 $615,000 $123,000 $5,786 3.62%
    48% 4 $1,000,000 $250,000 $5,156 3.94%

    Silver State Schools Service Company lent most frequently to those with DTI ratios of 20-30%, with 105 originations. The next most common DTI ratio? 30-36%, with 93 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 409 $51,845,000 $126,760 $3,482 4.92%
    Black 30 $4,460,000 $148,667 $4,451 4.99%
    Not provided 20 $4,300,000 $215,000 $5,082 4.76%
    Asian 20 $2,320,000 $116,000 $3,601 4.11%
    American Indian 7 $1,375,000 $196,429 $6,356 4.36%
    Native Hawaiian or Islander 7 $565,000 $80,714 $1,495 6.91%
    Not applicable 1 $25,000 $25,000 $0 0.99%

    Approval Rates

    Total approvals of all applications
    68.28%

    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
    66.40%

    Silver State Schools Service Company has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 494 $64,890,000 $131,356

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $35,000 $35,000
    Single Family (1-4 Units):Site-Built 493 $64,855,000 $131,552

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 65 $5,445,000 $83,769 $1,248 4.74%
    40-60% 38 $5,250,000 $138,158 $2,973 4.62%
    60-80% 101 $24,145,000 $239,059 $4,825 4.75%
    80-100% 88 $22,030,000 $250,341 $5,530 4.60%
    Under 20% 199 $7,685,000 $38,618 $482 5.21%