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 Cash Out Refi, Home Purchase, and Refi 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, Seattle, Spokane, Yakima, and Moses Lake among others. We have data for 31 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 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% | 4/28/24 |
| 30 Year Conventional Purchase | 5.94% | 4/28/24 |
| 30 Year Conventional Refi | 5.90% | 4/28/24 |
| 30 Year Cash-out Refi | 5.92% | 4/28/24 |
| 30 Year FHA Purchase | 7.68% | 4/28/24 |
| 30 Year VA Purchase | 6.53% | 4/28/24 |
| 15 Year Conventional Purchase | 6.04% | 4/28/24 |
| 15 Year Conventional Refi | 6.00% | 4/28/24 |
| 15 Year Cash-out Refi | 6.00% | 4/28/24 |
| 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
2,813Origination Dollar Volume (All Markets)
$688,885,000Top 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) | 1,162 | $263,920,000 | $227,126 | $4,406 | 3.12% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 386 | $97,510,000 | $252,617 | $3,593 | 3.30% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 309 | $85,295,000 | $276,036 | $5,047 | 3.25% |
| YAKIMA, WA (FHA|USDA|VA) | 220 | $49,650,000 | $225,682 | $4,322 | 3.12% |
| Moses Lake, WA (FHA|USDA|VA) | 176 | $39,480,000 | $224,318 | $4,679 | 3.10% |
| WALLA WALLA, WA (FHA|USDA|VA) | 153 | $28,455,000 | $185,980 | $4,014 | 3.12% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 43 | $21,385,000 | $497,326 | $3,859 | 3.24% |
| Outside of Metro Areas | 32 | $19,120,000 | $597,500 | $8,000 | 3.37% |
| WENATCHEE, WA (FHA|USDA|VA) | 74 | $17,260,000 | $233,243 | $4,306 | 3.15% |
| Hermiston-Pendleton, OR (FHA|USDA|VA) | 50 | $11,100,000 | $222,000 | $4,186 | 3.22% |
| Aberdeen, WA (FHA|USDA|VA) | 6 | $9,730,000 | $1,621,667 | $4,781 | 3.13% |
| Outside of Metro Areas | 38 | $8,620,000 | $226,842 | $4,979 | 3.20% |
| Othello, WA (FHA|USDA|VA) | 30 | $6,170,000 | $205,667 | $4,839 | 3.05% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 19 | $5,495,000 | $289,211 | $3,199 | 3.39% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 23 | $5,315,000 | $231,087 | $4,647 | 3.21% |
| Sandpoint, ID (FHA|USDA|VA) | 10 | $3,550,000 | $355,000 | $8,011 | 2.86% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 17 | $3,405,000 | $200,294 | $3,913 | 3.28% |
| BELLINGHAM, WA (FHA|USDA|VA) | 11 | $2,205,000 | $200,455 | $4,393 | 3.23% |
| Ellensburg, WA (FHA|USDA|VA) | 9 | $2,105,000 | $233,889 | $3,664 | 3.26% |
| Oak Harbor, WA (FHA|USDA|VA) | 12 | $1,840,000 | $153,333 | $2,712 | 3.31% |
| Pullman, WA (FHA|USDA|VA) | 8 | $1,670,000 | $208,750 | $4,105 | 3.17% |
| Port Angeles, WA (FHA|USDA|VA) | 3 | $1,215,000 | $405,000 | $2,005 | 3.30% |
| Shelton, WA (FHA|USDA|VA) | 6 | $1,110,000 | $185,000 | $3,070 | 3.31% |
| LONGVIEW, WA (FHA|USDA|VA) | 3 | $935,000 | $311,667 | $5,934 | 2.88% |
| Centralia, WA (FHA|USDA|VA) | 6 | $920,000 | $153,333 | $2,825 | 3.17% |
| La Grande, OR (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $4,864 | 3.56% |
| Moscow, ID (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $7,056 | 3.00% |
| Newport, OR (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,727 | 3.38% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,210 | 2.75% |
| SALEM, OR (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,194 | 2.63% |
| LEWISTON, ID-WA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 3.38% |
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 | 2,549 | $656,785,000 | $257,664 | $4,394 | 3.08% |
| HELOC | 263 | $31,925,000 | $121,388 | n/a | 4.04% |
| FHA | 1 | $175,000 | $175,000 | $7,491 | 3.13% |
For 2021, Gesa's most frequently originated type of loan was Conventional, with 2,549 originations. Their 2nd most popular type was HELOC, with 263 originations.
Loan Reason
For 2021, Gesa's most frequently cited loan purpose was Cash Out Refi, with 851 originations. The 2nd most popular reason was Home Purchase, with 729 originations.
Loan Duration/Length
For 2021, Gesa's most frequently cited loan duration was 30 Year, with 1,435 originations. The 2nd most popular length was 15 Year, with 909 originations.
Origination Fees/Closing Costs
Gesa's average total fees were $5,724, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 618 originations.
Interest Rates
During 2021, Gesa's average interest rate for loans was 3.13%, while their most frequently originated rate bucket for loans was 3-4%, with 1,381 originations.
Loan Sizing
2021 saw Gesa place emphasis on $200k-400k loans with 1,170 originations, totaling $323,680,000 in origination value.
Applicant Income
Gesa lent most frequently to those with incomes in the $100k-150k range, with 650 originations. The second most popular income band? $50k-75k, with 645 originations.
Applicant Debt to Income Ratio
Gesa lent most frequently to those with DTI ratios of 20-30%, with 580 originations. The next most common DTI ratio? 30-36%, with 498 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.44%
Gesa has an average approval rate.
Pick Rate
Approvals leading to origination77.28%
Gesa has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,813 | $688,885,000 | $244,893 |