mortgage rates

Mortgage Rates

Whatever stage of the homebuying or existing loan refinancing process you’re in, working  with someone who understands mortgages is essential. Greater Nevada Mortgage offers competitive rates and flexible home loans for those looking to buy a home in California or Nevada. 

Current Home Loan Rates

Questions? Contact us and we’ll be happy to help answer them!

Everyone Deserves a Home

According to the National Institute to End Homelessness, over 7,600 Nevadans experience homelessness on any given day, with nearly 20% being children and teens. Our Keys to Greater program donates a portion of the revenue from every new mortgage or refinance to community nonprofit organizations that address homelessness, which has resulted in $190,000 donated since launching in 2021.

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Understanding Rates

There’s a lot to understand about buying a home. That’s why Greater Nevada Mortgage offers tools to help you navigate the path — whether you’re a first-time homebuyer or if you’ve been around the block . 

Mortgage Rates FAQs

Have more questions about mortgage rates? Here are some of the most common questions we get on a regular basis. 

  • What is a mortgage?

    A mortgage is a promise to repay a loan on a property that you are purchasing. It’s a legally binding agreement with a financial institution to pay back the loan used to purchase the home over time. Mortgages term lengths can vary, and depending on the loan selected, could offer a shorter term length for buyers eager to pay off their mortgage earlier. At the end of the mortgage, the title to the home is transferred to you. 

  • How often do mortgage rates change?

    Mortgage rates change frequently, often several times throughout the day. Although the percentages that they fluctuate may only be fractional, each change impacts your theoretical monthly payment when you’re in the process of securing a mortgage. That’s why it’s important to check the mortgage rate today and work with a professional mortgage lender to lock in the best possible interest rate before it rises.

  • What are discount points?

    Mortgage points, also known as discount points, are fees paid to a lender in exchange for a reduced interest rate. Each point typically costs a set percentage of the total loan amount, and our expert consultants can help factor in this possibility during your loan process.

  • How do I calculate my monthly mortgage payment?

    Thankfully, this is easy to do. Greater Nevada Mortgage offers a handy mortgage calculator to help estimate what your mortgage payments will be. 

APR = Annual Percentage Rate. APR is the cost to borrow money expressed as a yearly percentage. For mortgage loans, excluding home equity lines of credit, it includes the interest rate plus other charges or fees.

Rates and terms are subject to change without notice. Rates are for illustrative purposes only, and assumes a borrower with a credit score of 700 or higher which may be higher or lower than your individual credit score. Adjustable Rate Mortgage (ARM) loans are subject to interest rate, APR, and payment increase after each change period. For instance, a 5/5 ARM means that you will pay a fixed rate for the first five years of the loan, and then your rate is subject to change once every five years thereafter through the remainder of the loan. Interest rates and APRs are based on current market rates, and may be subject to pricing add-ons related to property type, loan amount, loan-to-value, credit score and other variables. Depending on loan guidelines, mortgage insurance may be required. If mortgage insurance is required, the mortgage insurance premium could increase the APR and the monthly mortgage payment. Your loan’s interest rate will depend upon the specific characteristics of your loan transaction and your credit history up to the time of closing. The estimated total closing costs in these rate scenarios are not a substitute for a Loan Estimate, which includes an estimate of closing costs, which you will receive once you apply for a loan. Actual fees, costs and monthly payment on your specific loan transaction may vary, and may include city, county or other additional fees and costs. Not all loan options are available in every state. Borrower is responsible for any property taxes as a condition of the loan. Membership with Greater Nevada Credit Union is required for select loan options. This is not a credit decision or a commitment to lend.

Please contact a Mortgage Consultant to learn about all details on loan options and programs available. You may contact one directly, or call Greater Nevada Mortgage at 775-888-6999 or 800-526-6999. We do business in accordance with the Federal Fair Housing Law and the Equal Opportunity Act, and the California Fair Employment and Housing Act.