Silver State Schools Service Company Mortgage Rates, Fees & Info
LAS VEGAS, NVLEI: 549300WSQPVY1NRH6062
Tax ID: 88-0062898
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Mortgage Data
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 5.80% | 12/2/24 |
| 30 Year Conventional Purchase | 6.55% | 12/2/24 |
| 30 Year Conventional Refi | 6.76% | 12/2/24 |
| 30 Year Cash-out Refi | 6.69% | 12/2/24 |
| 15 Year Conventional Purchase | 5.48% | 12/2/24 |
| 15 Year Conventional Refi | 6.31% | 12/2/24 |
| 15 Year Cash-out Refi | 6.31% | 12/2/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
342Origination Dollar Volume (All Markets)
$41,290,000Top 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% |
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.
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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
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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications62.00%
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 origination95.03%
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 |