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, Cash Out Refi, 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, Carson City, Fernley, Pahrump, and Reno 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 an 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% 4/14/24
    30 Year Conventional Purchase 6.55% 4/14/24
    30 Year Conventional Refi 6.76% 4/14/24
    30 Year Cash-out Refi 6.69% 4/14/24
    15 Year Conventional Purchase 5.48% 4/14/24
    15 Year Conventional Refi 6.31% 4/14/24
    15 Year Cash-out Refi 6.31% 4/14/24
    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

    552

    Origination Dollar Volume (All Markets)

    $90,480,000

    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) 546 $89,680,000 $164,249 $3,949 4.73%
    CARSON CITY, NV (FHA|USDA|VA) 1 $285,000 $285,000 $5,381 3.88%
    Fernley, NV (FHA|USDA|VA) 1 $225,000 $225,000 $4,752 4.25%
    Pahrump, NV (FHA|USDA|VA) 2 $210,000 $105,000 $1,805 3.69%
    Outside of Metro Areas 1 $65,000 $65,000 $0 6.50%
    RENO, NV (FHA|USDA|VA) 1 $15,000 $15,000 $250 8.75%
    Silver State Schools Service Company's top markets include Las Vegas, Carson City, Fernley, Pahrump, 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.

    SIMPLIFI MORTGAGE, LLC
    Similarity Rank: 288
    Nevada Mortgage Inc.
    Similarity Rank: 401
    ALOHA PACIFIC
    Similarity Rank: 695
    Credit Union 1
    Similarity Rank: 850
    SILVER STATE SCHOOLS SERVICE COMPANY, LLC
    Similarity Rank: 966
    Firefighters First Federal Credit Union
    Similarity Rank: 1425
    ONE NEVADA CREDIT UNION
    Similarity Rank: 1680
    MID AMERICA MORTGAGE, INC.
    Similarity Rank: 1976
    JFK Financial Inc.
    Similarity Rank: 2156
    Fremont Bank
    Similarity Rank: 2700

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 387 $80,315,000 $207,532 $3,823 4.40%
    HELOC 160 $8,510,000 $53,188 n/a 5.57%
    VA 4 $1,350,000 $337,500 $12,554 3.75%
    FHA 1 $305,000 $305,000 $11,198 3.63%

    For 2019, Silver State Schools Service Company's most frequently originated type of loan was Conventional, with 387 originations. Their 2nd most popular type was HELOC, with 160 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 225 $20,835,000 $92,600 $2,852 5.56%
    Cash Out Refi 147 $30,785,000 $209,422 $3,858 4.01%
    Home Purchase 80 $20,930,000 $261,625 $5,819 4.09%
    Refi 75 $15,625,000 $208,333 $3,343 3.76%
    Home Improvement 25 $2,305,000 $92,200 $3,721 6.44%

    For 2019, Silver State Schools Service Company's most frequently cited loan purpose was Other, with 225 originations. The 2nd most popular reason was Cash Out Refi, with 147 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 241 $60,145,000 $249,564 $5,099 4.13%
    Other 168 $9,290,000 $55,298 $529 5.71%
    10 Year 80 $8,790,000 $109,875 $585 5.12%
    15 Year 35 $6,495,000 $185,571 $4,130 3.80%
    20 Year 26 $5,720,000 $220,000 $4,490 3.84%
    5 Year 2 $40,000 $20,000 $250 7.75%

    For 2019, Silver State Schools Service Company's most frequently cited loan duration was 30 Year, with 241 originations. The 2nd most popular length was Other, with 168 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 109 $21,305,000 $195,459
    $<1k 99 $11,505,000 $116,212
    $3k-4k 82 $22,560,000 $275,122
    $1k-2k 34 $4,380,000 $128,824
    $4k-5k 34 $10,760,000 $316,471
    $5k+ 25 $9,975,000 $399,000

    Silver State Schools Service Company's average total fees were $5,099, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 109 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 241 $47,725,000 $198,029
    4-5% 126 $31,830,000 $252,619
    2.5-3% 59 $3,735,000 $63,305
    Over 8% 55 $2,665,000 $48,455
    6-7% 28 $1,460,000 $52,143
    5-6% 22 $2,060,000 $93,636
    7-8% 21 $1,005,000 $47,857

    During 2019, Silver State Schools Service Company's average interest rate for loans was 4.13%, while their most frequently originated rate bucket for loans was 3-4%, with 241 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 214 $10,500,000 $49,065 $1,063 5.83%
    $200k-400k 177 $47,965,000 $270,989 $5,053 4.00%
    $100k-200k 138 $20,650,000 $149,638 $3,336 4.05%
    $400k-600k 19 $8,735,000 $459,737 $7,497 4.24%
    $600k-1MM 4 $2,630,000 $657,500 $7,598 4.31%

    2019 saw Silver State Schools Service Company place emphasis on $100,000 or less loans with 214 originations, totaling $10,500,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 151 $27,625,000 $182,947 $4,529 4.84%
    $50k-75k 129 $19,425,000 $150,581 $3,924 4.60%
    $75k-100k 117 $17,015,000 $145,427 $3,749 4.72%
    $150k-250k 71 $14,835,000 $208,944 $4,065 5.16%
    $50k or less 62 $7,360,000 $118,710 $3,188 4.26%
    $250k+ 14 $3,380,000 $241,429 $3,528 4.45%

    Silver State Schools Service Company lent most frequently to those with incomes in the $100k-150k range, with 151 originations. The second most popular income band? $50k-75k, with 129 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 136 $22,230,000 $163,456 $3,881 4.44%
    30-36% 118 $20,140,000 $170,678 $4,325 4.72%
    <20% 40 $6,650,000 $166,250 $3,313 4.05%
    44% 27 $4,265,000 $157,963 $3,850 4.69%
    37% 25 $3,335,000 $133,400 $3,526 5.49%
    38% 24 $4,170,000 $173,750 $3,070 5.15%
    41% 24 $4,310,000 $179,583 $4,909 5.01%
    40% 22 $3,460,000 $157,273 $4,697 5.29%
    45% 21 $2,525,000 $120,238 $3,381 5.47%
    43% 19 $3,735,000 $196,579 $4,494 4.67%
    36% 17 $2,985,000 $175,588 $4,162 4.49%
    42% 16 $2,800,000 $175,000 $3,891 5.21%
    39% 16 $1,820,000 $113,750 $2,838 5.70%
    49% 11 $1,285,000 $116,818 $3,673 5.32%
    46% 10 $2,320,000 $232,000 $4,949 4.34%
    47% 10 $1,590,000 $159,000 $2,603 4.81%
    48% 7 $1,145,000 $163,571 $4,972 3.82%
    >60% 2 $500,000 $250,000 $5,457 3.63%
    50-60% 1 $25,000 $25,000 $0 2.99%

    Silver State Schools Service Company lent most frequently to those with DTI ratios of 20-30%, with 136 originations. The next most common DTI ratio? 30-36%, with 118 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 439 $69,995,000 $159,442 $3,813 4.76%
    Asian 37 $7,005,000 $189,324 $4,300 4.66%
    Black 41 $6,655,000 $162,317 $4,183 4.67%
    Not provided 26 $5,380,000 $206,923 $4,799 4.19%
    Filipino 2 $680,000 $340,000 $5,828 3.94%
    Native Hawaiian 1 $255,000 $255,000 $4,846 4.25%
    American Indian 2 $210,000 $105,000 $2,180 3.44%
    Other Pacific Islander 1 $155,000 $155,000 $3,633 3.13%
    Native Hawaiian or Islander 2 $120,000 $60,000 $0 9.13%
    Other Asian 1 $25,000 $25,000 $0 6.50%

    Approval Rates

    Total approvals of all applications
    75.78%

    Silver State Schools Service Company has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    68.30%

    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 552 $90,480,000 $163,913

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $85,000 $85,000
    Single Family (1-4 Units):Site-Built 551 $90,395,000 $164,056

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 79 $7,865,000 $99,557 $1,725 4.72%
    40-60% 72 $13,620,000 $189,167 $3,370 3.82%
    60-80% 140 $34,660,000 $247,571 $4,778 3.97%
    80-100% 92 $26,170,000 $284,457 $5,514 4.15%
    Over 100% 1 $265,000 $265,000 $13,586 3.50%
    Under 20% 164 $6,950,000 $42,378 $385 6.14%