family sitting outside on their patio

CONVENTIONAL HOME LOANS

THE HOME OF YOUR DREAMS IS WITHIN YOUR REACH

We offer fixed-rate and adjustable-rate mortgages for primary residences, second homes, and investment properties.

 

FIXED TERM1

30-YEAR

INTEREST RATE 2
APR3

RELIABLE, TRADITIONAL HOME FINANCING THAT'S CUSTOMIZED FOR YOU

Family playing in their back lawn

With a conventional home loan, you can finance the home you’ve always wanted. We offer both fixed-rate and adjustable-rate loans with a range of terms, so you can choose the option that supports your financial goals. Here’s what we offer:

  • Competitive rates
  • Flexible terms
  • 1-4 Units
  • Variety of mortgage options
  • Quick decisions
  • Experienced team of local Mortgage Loan Officers

The Federal Housing Finance Agency sets limits for conventional home loans. In 2024, the limit for a single unit is $766,550. This limit can be up to $1,149,825 in high-cost regions. Limits change each year based on national home prices.

Couple looking at laptop
GETTING STARTED

FINDING THE RIGHT HOME LOAN IS AS EASY AS 1-2-3

You can find the mortgage that works best for you in a few easy steps:

  1. Choose your mortgage advisor. We’re locals who know the market.
  2. Select a loan. Your advisor can help you explore your options.
  3. Share your details. Our online loan application is simple and easy.

 

MEET OUR MORTGAGE LOAN OFFICERS

Our loan experts are local to the Las Vegas Valley, available to answer questions, and ready to guide you.

MORTGAGE LOAN OFFICER

SAMANTHA SHIMAMOTO

NMLS# 2347219
sshimamoto@silverstatecu.com
702.661.1135

MORTGAGE LOAN OFFICER

ARIAN SABERNIA

NMLS# 1651019
asabernia@silverstatecu.com
702.661.1142

MORTGAGE LOAN OFFICER

TOM JONES

NMLS# 846028
tjones@silverstatecu.com
702.661.1129

CONVENTIONAL HOME LOAN FAQs

Yes, a down payment is required for a conventional home loan. In some circumstances, your down payment can be as low as 3%, but a 20% down payment is required to avoid private mortgage insurance (PMI). Your Mortgage Advisor can help you determine what will work best for your financial situation.

With a fixed-rate mortgage, your interest rate doesn’t change, so you pay the same the amount of principal and interest every month. However, your total monthly payment might change if your taxes or insurance costs change.

With an adjustable-rate mortgage, your monthly payment can change over time. Your interest rate is linked to an economic index, so it adjusts up or down as that index changes. If your rate goes up, then your monthly payment also goes up. If your rate drops, you’ll have a lower monthly payment.

When you apply for a mortgage, your credit score affects the interest rate you qualify for. With a higher credit score, you can usually qualify for a lower interest rate, which reduces your monthly payment and lowers the overall cost of the loan.

If you’re not sure what your credit score is, you can request a free copy of your credit score at https://www.freecreditreport.com/.

If you want to buy a home within the next few months, then it’s a good idea to get preapproved for a mortgage. Preapproval shows sellers that you’re serious about buying and you have the funds you need. If you’re looking for a home in a competitive market, getting preapproved can give you an advantage over other buyers.

EXPLORE OUR MORTGAGE OPTIONS

Mortgages

FHA Home Loans

Discover low down payments and flexible terms with our FHA loan options. Your key to affordable homeownership.

Mortgages

VA Home Loans

Discover the benefits of VA home loans for veterans and active-duty service members. Competitive rates and flexible terms.

Mortgages

Jumbo Home Loans

Secure your dream house with our jumbo home loan solutions for price tags greater than conventional loan limits.

SET YOURSELF UP FOR FINANCIAL SUCCESS

Learn more about how to manage your money and increase your financial wellness.

First-time homebuyer couple walks through new build.

First-Time Homebuyer

There are few things in life as rewarding as owning a home.

Students discussing how to prepare for college life.

How to Prepare for College Life

Practical advice on how to manage your money during college so you can enjoy this new adventure!

Two women discussing how to start managing your debt.

How to Start Managing Your Debt in Two Simple Steps

Key strategies to get yourself on the path to financial freedom.

Disclosures

Mortgage Loan Rates can change at any time and without notice.

1The disclosed APR is based on the payment of 1.000 origination point. For example, a $400,000 loan with a 7.477% APR with a 360-month repayment term, the estimated monthly principal and interest payment is $2,763.

2Interest rate quoted assumes a purchase with 45-day lock pricing at 60% loan-to-value (LTV), a minimum FICO score of 740 on a primary residence. The actual interest rate, APR and payment amount may vary based on the specific terms of the loan selected, verification of information, your credit history, the location and type of property, and other factors as determined by Lender. Not available in all states. Payments shown do not include taxes or insurance, actual payment obligations will be greater. Minimum credit scores apply. Not all applicants will qualify.

3Annual Percentage Rate (APR).

All loans are subject to credit approval, verification, and collateral evaluation. Other terms and conditions may apply, ask for details. Down payments as low as 3% available. For the 3% down payment option, at least one borrower must be a First Time Home Buyer, otherwise a minimum 5% down payment is required. A 20% down payment is required to avoid Private Mortgage Insurance (PMI). Silver State Schools Credit Union (NMLS ID#382004) is located at 630 Trade Center Drive, Las Vegas, NV 89119, and can be contacted at 702.733.8820. Our Mortgage Loan Origination Officers are licensed through the National Mortgage Licensing System (NMLS).

Membership eligibility is required. Must be a Silver State Schools Credit Union member to borrow. Membership at SSSCU requires a savings account with a minimum.