Gesa Mortgage Rates, Fees & Info

Richland, WA

LEI: 5493001B4U37VT2ML818

Tax ID: 91-0616262

5 stars - Updated: 7/20/24 - out of 5 stars, based on 39 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Gesa is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Gesa has a high proportion of conventional loans. Their top markets by origination volume include: Kennewick, Spokane, Seattle, Moses Lake, and Bremerton among others. We have data for 29 markets. (Some data included below & more in-depth data is available with an active subscription.)

Gesa has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Gesa is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 5.81% 7/20/24
30 Year Conventional Purchase 5.94% 7/20/24
30 Year Conventional Refi 5.90% 7/20/24
30 Year Cash-out Refi 5.92% 7/20/24
30 Year FHA Purchase 7.68% 7/20/24
30 Year VA Purchase 6.53% 7/20/24
15 Year Conventional Purchase 6.04% 7/20/24
15 Year Conventional Refi 6.00% 7/20/24
15 Year Cash-out Refi 6.00% 7/20/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Gesa Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Gesa. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

1,554

Origination Dollar Volume (All Markets)

$284,150,000

Awards

GESA 30 Year Conventional Loans gold
Show all (1) awards

Relative Rate

Gesa's average 30 year fixed mortgage rate was 6.85%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.37%.

Relative Fees (Closing Costs)

Gesa's average total fees/closing costs for a 30 year fixed rate mortgage were $6,864.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 621 $97,155,000 $156,449 $2,876 8.86%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 117 $33,465,000 $286,026 $3,799 8.44%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 243 $31,315,000 $128,868 $1,303 9.14%
Moses Lake, WA (FHA|USDA|VA) 93 $21,205,000 $228,011 $3,355 8.26%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 17 $19,205,000 $1,129,706 $2,144 8.59%
YAKIMA, WA (FHA|USDA|VA) 142 $17,290,000 $121,761 $2,345 8.76%
WALLA WALLA, WA (FHA|USDA|VA) 101 $11,585,000 $114,703 $2,532 8.80%
Outside of Metro Areas 10 $10,500,000 $1,050,000 $4,483 8.52%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 11 $9,125,000 $829,545 $2,505 8.05%
WENATCHEE, WA (FHA|USDA|VA) 47 $6,335,000 $134,787 $3,028 9.19%
Outside of Metro Areas 24 $4,440,000 $185,000 $5,118 8.49%
Ellensburg, WA (FHA|USDA|VA) 12 $3,700,000 $308,333 $2,154 8.06%
Hermiston-Pendleton, OR (FHA|USDA|VA) 35 $3,155,000 $90,143 $1,558 9.29%
Othello, WA (FHA|USDA|VA) 14 $2,780,000 $198,571 $3,469 8.08%
Sandpoint, ID (FHA|USDA|VA) 2 $2,470,000 $1,235,000 $14,047 7.31%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 16 $1,860,000 $116,250 $2,408 8.79%
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 8 $1,850,000 $231,250 $3,267 8.41%
Oak Harbor, WA (FHA|USDA|VA) 10 $1,300,000 $130,000 $2,697 9.11%
BELLINGHAM, WA (FHA|USDA|VA) 2 $1,260,000 $630,000 $11,002 6.75%
Roseburg, OR (FHA|USDA|VA) 3 $785,000 $261,667 $5,273 8.54%
Moscow, ID (FHA|USDA|VA) 2 $740,000 $370,000 $7,258 6.88%
Pullman, WA (FHA|USDA|VA) 6 $730,000 $121,667 $395 8.48%
Centralia, WA (FHA|USDA|VA) 5 $455,000 $91,000 $789 8.80%
Port Angeles, WA (FHA|USDA|VA) 4 $440,000 $110,000 $838 9.09%
Aberdeen, WA (FHA|USDA|VA) 4 $320,000 $80,000 $395 9.06%
LONGVIEW, WA (FHA|USDA|VA) 2 $240,000 $120,000 $0 9.75%
POCATELLO, ID (FHA|USDA|VA) 1 $225,000 $225,000 $5,051 6.13%
The Dalles, OR (FHA|USDA|VA) 1 $155,000 $155,000 $0 9.75%
BEND, OR (FHA|USDA|VA) 1 $65,000 $65,000 $0 9.50%
Gesa's top markets include Kennewick, Spokane, Seattle, Moses Lake, and Bremerton among others.

Their top states include:
  • Washington (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against GESA based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Baker Boyer National Bank
    Similarity Rank: 45
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    Similarity Rank: 55
    Cashmere Valley Bank
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    INROADS
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    KITSAP Credit Union
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    LO, INC.
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    CU HOME MORTGAGE SOLUTIONS, LLC
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    Clackamas Federal Credit Union
    Similarity Rank: 776

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 861 $206,755,000 $240,134 $2,763 7.81%
    HELOC 693 $77,395,000 $111,681 n/a 10.04%

    For 2023, Gesa's most frequently originated type of loan was Conventional, with 861 originations. Their 2nd most popular type was HELOC, with 693 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 565 $51,505,000 $91,159 $632 9.29%
    Other 497 $48,265,000 $97,113 $622 9.43%
    Home Purchase 276 $84,650,000 $306,703 $6,845 7.16%
    Cash Out Refi 180 $57,110,000 $317,278 $2,043 8.44%
    Refi 36 $42,620,000 $1,183,889 $5,653 6.87%

    For 2023, Gesa's most frequently cited loan purpose was Home Improvement, with 565 originations. The 2nd most popular reason was Other, with 497 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 701 $82,885,000 $118,238 $0 10.00%
    15 Year 417 $36,905,000 $88,501 $642 8.45%
    30 Year 284 $93,850,000 $330,458 $6,864 6.85%
    10 Year 116 $66,710,000 $575,086 $488 7.96%
    5 Year 27 $2,105,000 $77,963 $483 7.96%
    20 Year 8 $1,490,000 $186,250 $5,529 6.30%
    3 Year 1 $205,000 $205,000 $0 8.75%

    For 2023, Gesa's most frequently cited loan duration was Other, with 701 originations. The 2nd most popular length was 15 Year, with 417 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 520 $41,790,000 $80,365
    $5k+ 96 $40,600,000 $422,917
    $3k-4k 67 $16,425,000 $245,149
    $2k-3k 60 $11,100,000 $185,000
    $4k-5k 54 $17,860,000 $330,741
    $1k-2k 11 $1,095,000 $99,545

    Gesa's average total fees were $6,864, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 520 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 1,084 $112,040,000 $103,358
    7-8% 226 $55,760,000 $246,726
    6-7% 203 $103,905,000 $511,847
    5-6% 39 $11,415,000 $292,692
    3-4% 2 $1,030,000 $515,000

    During 2023, Gesa's average interest rate for loans was 6.85%, while their most frequently originated rate bucket for loans was Over 8%, with 1,084 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 759 $44,035,000 $58,017 $582 9.21%
    $100k-200k 405 $55,445,000 $136,901 $1,895 9.09%
    $200k-400k 307 $81,655,000 $265,977 $6,064 7.99%
    $400k-600k 52 $24,470,000 $470,577 $9,306 6.68%
    $1MM+ 17 $68,015,000 $4,000,882 $0 6.84%
    $600k-1MM 14 $10,530,000 $752,143 $11,498 6.59%

    2023 saw Gesa place emphasis on $100,000 or less loans with 759 originations, totaling $44,035,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 442 $61,340,000 $138,778 $2,572 8.95%
    $150k-250k 301 $51,135,000 $169,884 $2,647 8.86%
    $75k-100k 300 $37,720,000 $125,733 $2,683 8.82%
    $50k-75k 293 $34,225,000 $116,809 $3,082 8.70%
    $50k or less 107 $9,065,000 $84,720 $3,104 8.91%
    $250k+ 71 $15,375,000 $216,549 $3,016 8.89%

    Gesa lent most frequently to those with incomes in the $100k-150k range, with 442 originations. The second most popular income band? $150k-250k, with 301 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    49% 199 $26,445,000 $132,889 $6,699 9.78%
    44% 193 $26,305,000 $136,295 $2,070 8.46%
    30-36% 186 $26,340,000 $141,613 $2,929 8.62%
    20-30% 147 $18,815,000 $127,993 $2,672 8.58%
    43% 100 $12,460,000 $124,600 $1,813 8.62%
    42% 97 $12,575,000 $129,639 $2,176 8.57%
    41% 80 $11,010,000 $137,625 $2,069 8.66%
    48% 69 $10,145,000 $147,029 $7,386 9.47%
    47% 60 $8,290,000 $138,167 $6,215 9.10%
    39% 53 $6,615,000 $124,811 $2,005 8.65%
    38% 52 $9,240,000 $177,692 $3,337 8.46%
    40% 49 $8,095,000 $165,204 $3,302 8.38%
    37% 48 $6,670,000 $138,958 $2,442 8.96%
    46% 46 $6,560,000 $142,609 $7,355 9.70%
    36% 46 $5,240,000 $113,913 $1,783 8.52%
    45% 44 $7,990,000 $181,591 $5,127 8.99%
    <20% 37 $5,025,000 $135,811 $2,933 8.61%
    50-60% 7 $815,000 $116,429 $0 10.79%
    >60% 1 $225,000 $225,000 $0 6.65%

    Gesa lent most frequently to those with DTI ratios of 49%, with 199 originations. The next most common DTI ratio? 44%, with 193 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,210 $169,640,000 $140,198 $2,885 8.78%
    Not applicable 35 $74,605,000 $2,131,571 $0 6.92%
    Not provided 234 $29,470,000 $125,940 $2,105 9.08%
    Asian 28 $4,840,000 $172,857 $3,824 8.99%
    Black 16 $2,030,000 $126,875 $1,922 9.28%
    American Indian 20 $1,720,000 $86,000 $998 9.58%
    Native Hawaiian or Islander 7 $975,000 $139,286 $1,434 8.91%
    Asian Indian 2 $650,000 $325,000 $8,353 8.81%
    Filipino 1 $135,000 $135,000 $821 8.38%
    Other Pacific Islander 1 $85,000 $85,000 $0 10.25%

    Approval Rates

    Total approvals of all applications
    76.17%

    Gesa has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    75.35%

    Gesa has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,554 $284,150,000 $182,851

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,554 $284,150,000 $182,851

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 406 $56,000,000 $137,931 $1,162 9.31%
    40-60% 132 $64,190,000 $486,288 $5,245 8.47%
    60-80% 113 $58,225,000 $515,265 $6,738 7.54%
    80-100% 149 $51,315,000 $344,396 $7,363 6.85%
    Over 100% 3 $4,565,000 $1,521,667 $0 7.01%
    Under 20% 751 $49,855,000 $66,385 $562 9.17%