Gesa Mortgage Rates, Fees & Info
Richland, WALEI: 5493001B4U37VT2ML818
Tax ID: 91-0616262
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Mortgage Data
Review & Overview
Gesa is a smaller mortgage company specializing in Home Purchase loans. Gesa has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Kennewick, Spokane, Walla Walla, Yakima, and Moses Lake among others. We have data for 28 markets. (Some data included below & more in-depth data is available with an active subscription.)Gesa has an above 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 a low 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 about average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 5.81% | 11/21/24 |
| 30 Year Conventional Purchase | 5.94% | 11/21/24 |
| 30 Year Conventional Refi | 5.90% | 11/21/24 |
| 30 Year Cash-out Refi | 5.92% | 11/21/24 |
| 30 Year FHA Purchase | 7.68% | 11/21/24 |
| 30 Year VA Purchase | 6.53% | 11/21/24 |
| 15 Year Conventional Purchase | 6.04% | 11/21/24 |
| 15 Year Conventional Refi | 6.00% | 11/21/24 |
| 15 Year Cash-out Refi | 6.00% | 11/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,411Origination Dollar Volume (All Markets)
$251,675,000Awards
GESA - 2018
GESA is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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) | 749 | $128,015,000 | $170,915 | $3,007 | 4.80% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 205 | $48,095,000 | $234,610 | $3,721 | 4.97% |
| WALLA WALLA, WA (FHA|USDA|VA) | 115 | $19,375,000 | $168,478 | $3,442 | 4.78% |
| YAKIMA, WA (FHA|USDA|VA) | 112 | $15,390,000 | $137,411 | $2,959 | 4.93% |
| Moses Lake, WA (FHA|USDA|VA) | 53 | $7,535,000 | $142,170 | $3,282 | 4.67% |
| WENATCHEE, WA (FHA|USDA|VA) | 32 | $5,550,000 | $173,438 | $2,883 | 4.81% |
| Outside of Metro Areas | 19 | $5,355,000 | $281,842 | $5,591 | 4.75% |
| Outside of Metro Areas | 29 | $4,865,000 | $167,759 | $3,635 | 4.65% |
| Hermiston-Pendleton, OR (FHA|USDA|VA) | 33 | $4,435,000 | $134,394 | $3,847 | 4.97% |
| Sandpoint, ID (FHA|USDA|VA) | 14 | $3,720,000 | $265,714 | $5,852 | 4.88% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 15 | $2,765,000 | $184,333 | $3,233 | 4.91% |
| Othello, WA (FHA|USDA|VA) | 6 | $880,000 | $146,667 | $3,248 | 5.06% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 6 | $850,000 | $141,667 | $560 | 4.79% |
| Ellensburg, WA (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $5,007 | 4.79% |
| Centralia, WA (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $4,407 | 5.08% |
| BEND, OR (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $0 | 4.38% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 3 | $515,000 | $171,667 | $3,478 | 4.88% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $5,488 | 4.63% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,888 | 5.75% |
| La Grande, OR (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $2,570 | 4.69% |
| Newport, OR (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $5,519 | 4.00% |
| SALEM, OR (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 4.13% |
| Port Angeles, WA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,493 | 4.75% |
| Moscow, ID (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,389 | 4.63% |
| Aberdeen, WA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,521 | 4.75% |
| Roseburg, OR (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,142 | 6.88% |
| LEWISTON, ID-WA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 3.88% |
| Pullman, WA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,691 | 4.50% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1,357 | $239,875,000 | $176,769 | $3,119 | 4.84% |
| VA | 30 | $6,920,000 | $230,667 | $5,007 | 4.48% |
| FHA | 24 | $4,880,000 | $203,333 | $7,371 | 4.74% |
For 2018, Gesa's most frequently originated type of loan was Conventional, with 1,357 originations. Their 2nd most popular type was VA, with 30 originations.
Loan Reason
For 2018, Gesa's most frequently cited loan purpose was Home Purchase, with 742 originations. The 2nd most popular reason was Cash Out Refi, with 217 originations.
Loan Duration/Length
For 2018, Gesa's most frequently cited loan duration was 30 Year, with 873 originations. The 2nd most popular length was 15 Year, with 344 originations.
Origination Fees/Closing Costs
Gesa's average total fees were $4,335, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 482 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 1,041 | $182,295,000 | $175,115 |
| 5-6% | 273 | $54,595,000 | $199,982 |
| 3-4% | 72 | $11,710,000 | $162,639 |
| 6-7% | 16 | $2,270,000 | $141,875 |
| 7-8% | 9 | $805,000 | $89,444 |
During 2018, Gesa's average interest rate for loans was 4.82%, while their most frequently originated rate bucket for loans was 4-5%, with 1,041 originations.
Loan Sizing
2018 saw Gesa place emphasis on $100k-200k loans with 501 originations, totaling $75,595,000 in origination value.
Applicant Income
Gesa lent most frequently to those with incomes in the $50k-75k range, with 397 originations. The second most popular income band? $50k or less, with 287 originations.
Applicant Debt to Income Ratio
Gesa lent most frequently to those with DTI ratios of 30-36%, with 253 originations. The next most common DTI ratio? 20-30%, with 244 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.30%
Gesa has an average approval rate.
Pick Rate
Approvals leading to origination76.40%
Gesa has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,411 | $251,675,000 | $178,366 |