Greater Nevada Credit Union Home Loans

Homeownership Dreams Start Here

Did you know you can get pre-approved for a home loan right now? GNCU’s home lending subsidiary, Greater Nevada Mortgage (GNM), has all the tools and expertise you need to make an informed decision to apply for a mortgage on the home of your dreams.

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Did You Miss Our Helpful Webinar About the Launchpad Homeownership Program?

Qualifying first-time homebuyers can access state down payment assistance through the program provided by Nevada Rural Housing to help put affordable homeownership within reach for more families and individuals in rural communities throughout the Silver State. Sign up below to receive a link to watch a recording to learn more about what you need to do to qualify, amounts available, and other questions asked by attendees. Don’t delay because funds from this program are limited!

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Beat Other Homebuyers Stuck on the Sidelines

Apply now as mortgage rates fall! GNM is here to help you meet your homeownership goals—like buying your first or next home, or lowering your current interest rate and payments or accessing cash by refinancing. GNM also prioritizes speed for their clients, with an average turnaround of only 21 days from application completed to ready to close for purchase loans!1

A Passion for Helping Homebuyers

GNM’s home loan experts are ready to provide their insights and personal assistance for your next home purchase. Whether you’re a first-time homebuyer or looking to move, they’re here to guide you through the entire process.

Here to Help Your Mortgage Needs

Credit Union Home Loan Options

If you are in the market to buy a home, it’s important to do your research so that you can choose the loan that works best for your budget and lifestyle. When you work with our credit union’s home lending subsidiary, Greater Nevada Mortgage, you have a variety of mortgage options, from fixed rate to adjustable rate and even government-backed loans such as FHA, USDA, and VA loans. Connecting with a local GNM Mortgage Consultant is a great first step to get an idea on what options could be available to you, including possible down payment assistance programs (which aren’t limited to only first-time homebuyers).

If you own a home and are seeking a better interest rate and/or lower monthly mortgage payments, a home refinance loan may be right for you. This is also a good approach for those looking to consolidate debt from high-interest loans into a single monthly payment through a cash out refinance, as well as for those who simply want to pay off their home on a different time table than what their original mortgage’s terms called for. Check out our loan refinance calculator to see how refinancing could work out for you, and connect with a local GNM Mortgage Consultant to have your refinancing questions answered.

A Home Equity Line of Credit, or HELOC, is another popular way to borrow money from a home you already own — and it’s not the same as a home equity loan. By tapping into your equity, you can borrow much like you would with a credit card with repayment only necessary on the funds you use, and the money can be used for home improvements, emergencies, debt consolidation, and more. HELOCs are a good option for homeowners who have built up equity over time of owning their home. Connect with a local GNM Mortgage Consultant to have your HELOC questions answered.

Types of Home Loans

When you borrow money to purchase a home, you have a lot of choices to make. The first — and perhaps most important — is which type of loan best suits your needs. Here’s a look at some of the most popular credit union home loan types.

Applying for Your Home Loan

Follow the steps below to get started on your home loan.

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Determine Your Needs

What do you need the loan for? What loan amount are you aiming for? Run a few test scenarios through GNM’s mortgage calculator.

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Compare Loans

Fixed? Adjustable? Government-backed? What are the mortgage rates and possible monthly payments? Having a general idea of options available, including down payment assistance programs, will help you during the application process.

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Submit Your Application

It’s quick. It’s easy. It’s online. Plus, GNM offers a handy mortgage documents checklist so you know what information to gather.

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Explore With an Expert

A local GNM Mortgage Consultant will work with you to see what options work best for your goals and situation. You can also connect with one before starting your application.

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Everyone Deserves a Home

According to the National Alliance to End Homelessness, over 7,600 Nevadans experience homelessness on any given night. GNM’s Keys to Greater program donates a portion of the revenue from every new mortgage or refinance to community nonprofit organizations that address homelessness, and since launching in 2021, over $200,000 has been donated!

Home Loans Frequently Asked Questions (FAQs)

There are no bad questions when it comes to home loans. We think the more you understand about the process, the better it is for everyone involved. Here are some of the most common questions we get.

What credit score do I need to get a home loan?

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While there is no magic number for getting a home loan, a general rule of thumb is that anything over 620 is considered good for increasing your chances of obtaining a loan with favorable terms. Interested to see where you stand with your credit report? Members can take advantage of our free My Credit Health feature within Digital Banking offering a powerful one-stop-shop to access your credit score, credit monitoring, credit score simulator, financial tips, and more. All of this without impacting your credit score, and all online.

What kind of loan should I get?

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That’s up to you, but we can help you decide. You may be investing in a rental property, buying your first home, downsizing or any number of other situations that will dictate which type of loan will work best for you. A local GNM Mortgage Consultant can work with you to see what options work best for your goals and situation.

How do I know how much home I can afford?

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We’ve made that one fairly easy. Simply head over to GNM’s mortgage calculator, tell us a little bit about your purchase price, down payment, preferred loan terms and we’ll calculate an estimated monthly payment for you.

What information do mortgage lenders need?

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Generally, we’ll need to know your personal information, credit score, employment history as well as information about any outstanding debts, including credit cards. GNM offers a handy mortgage documents checklist so you know what information to gather.

How can I find out how much my loan will be?

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Many different factors will go into the answer to this question. Your best first step will be to connect with a local GNM Mortgage Consultant to have your initial questions answered.

Ready to Move Forward?

If you’re ready to proceed with applying for a home loan, we’ve got the tools you need to move from dreaming to owning! Visit the links below to get started.

1Average purchase loan turnaround time is based on application completion to final approval, with all required conditions and guidelines being met awaiting the Close of Escrow date, for October 2024. This is not a guaranteed timeframe for all loan applications. Each loan transaction is different, and individual turnaround times will vary.

Greater Nevada Mortgage | NMLS ID: 279738 | CA ID: 41DBO-61467 | Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act