home loans

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.

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.

Newer to homeownership and don’t quite have the equity built up to do a home improvement project? A RenoFi Home Renovation Loan may be worth exploring!

Mom with baby on couch inside their home

Affordable Entry Into Homeownership: Explore a 5/5 Adjustable Rate Mortgage (ARM)

Greater Nevada Mortgage’s 5/5 ARM makes homeownership more affordable for first-time homebuyers and those restarting the mortgage process. With a low fixed interest rate for the first five years, borrowers can enjoy predictable monthly payments and peace of mind. After five years, the interest rate adjusts to market conditions and continues to do so only every five years after that. Get started now with as little as 10% down and a FICO score as low as 640.

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.

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.

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.

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.

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.

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.

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