Nevada Mortgage Inc. Interest Rate and Cost Review

Is Nevada Mortgage Inc. a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by Nevada Mortgage Inc. with other lenders for comparable mortgages. Nationally, we give Nevada Mortgage Inc. the following review:

Interest Rate: similar to average (+0.04%)
Loan Related Closing Costs: similar to average (+$127)
National Rate and Closing Cost Rating: (3.0)

On average, Nevada Mortgage Inc.’s interest rates were similar to those of other lenders (+0.04%) for a comparable set of borrowers. Its average total loan related closing cost was $1309, which was similar to those of other lenders at $1182, with a difference of +$127. Overall, combining interest rates and closing costs we estimate that Nevada Mortgage Inc. tends to be an expensive lender, and give it an National Rate and Closing Costs Rating of 3.0 out of 5.0 stars.

Mortgage lenders often set different rates in different geographical markets. For our data driven ranking of the top mortgage lenders by area, click here. In particular, among the markets we track Nevada Mortgage Inc. was most active in Las Vegas, NV.

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Nevada Mortgage Inc. originated Conforming and FHA mortgages for new home purchases and refinances. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated in the below, which you can select via the drop-down menu. As a summary, Nevada Mortgage Inc. is similar to other lenders for FHA purchase mortgages. It is more expensive than other lenders for Conforming purchase mortgages. For refinancing, Nevada Mortgage Inc. is similar to other lenders for FHA mortgage refinance. It is more expensive than other lenders for Conforming mortgage refinance.

New Purchase MortgagesConformingFHA
Interest Rate Difference+0.06%+0.03%
Loan Related Closing Cost Difference+$144-$21
Cost Adjusted Rate Difference+0.07%+0.03%
Star Rating(3.0)(3.5)
Refinance MortgagesConformingFHA
Interest Rate Difference+0.04%+0.00%
Loan Related Closing Cost Difference+$232+$57
Cost Adjusted Rate Difference+0.06%+0.01%
Star Rating(3.0)(3.5)

As a consumer advocate, we always recommend shopping among several lenders in your area before signing.

Other information about Nevada Mortgage Inc.:

Registered name: Nevada Mortgage Inc
Registered city and state: HENDERSON, NV, 89014
Regulator: United States Department of Housing and Urban Development (HUD)

* Source for the data comes from Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Nevada Mortgage Inc.’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.