Gershman Investment Corp. Mortgage Rates, Fees & Info

LITTLE ROCK, AR

LEI: 549300NB3SBC1KHAWB92

Tax ID: 43-0710608

5 stars - out of 5 stars, based on 95 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Gershman Investment Corp. is a small mortgage company specializing in Home Purchase loans. Gershman Investment Corp. has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include St. Louis, Tampa, Des Moines, Springfield, and Lincoln among others. Gershman Investment Corp. has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Gershman Investment Corp. is typically an average fee lendor.


Originations

8,979

Origination Dollar Volume (All Markets)

$1,815,435,000
Show all (21) awards

Relative Rate

Gershman Investment Corp.'s average 30 year fixed rate mortgage of loans were 3.09%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.06%.

Relative Fees

Gershman Investment Corp.'s average total fees for a 30 year fixed rate mortgage are $3,930.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
ST. LOUIS, MO-IL (FHA|USDA|VA) 3,070 $608,520,000 $198,215 $3,427 3.05%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 837 $237,505,000 $283,757 $5,636 3.20%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1,031 $214,455,000 $208,007 $3,280 2.65%
SPRINGFIELD, MO (FHA|USDA|VA) 893 $163,025,000 $182,559 $3,585 3.11%
LINCOLN, NE (FHA|USDA|VA) 577 $113,765,000 $197,166 $3,473 2.96%
Outside of Metro Areas 682 $113,640,000 $166,628 $3,577 3.15%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 444 $84,890,000 $191,194 $3,657 2.85%
GRAND JUNCTION, CO (FHA|USDA|VA) 77 $19,365,000 $251,494 $2,577 2.83%
Sedalia, MO (FHA|USDA|VA) 111 $17,105,000 $154,099 $3,083 3.07%
JEFFERSON CITY, MO (FHA|USDA|VA) 89 $14,635,000 $164,438 $2,319 3.08%
KANSAS CITY, MO-KS (FHA|USDA|VA) 68 $12,820,000 $188,529 $3,492 3.02%
CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) 93 $12,615,000 $135,645 $3,748 3.16%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 52 $11,950,000 $229,808 $5,963 3.27%
Branson, MO (FHA|USDA|VA) 56 $10,520,000 $187,857 $3,947 3.14%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 22 $9,590,000 $435,909 $3,356 2.80%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 36 $8,770,000 $243,611 $5,687 3.19%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 27 $8,695,000 $322,037 $6,836 3.22%
CARBONDALE-MARION, IL (FHA|USDA|VA) 47 $7,615,000 $162,021 $3,669 3.31%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 22 $7,310,000 $332,273 $5,404 3.19%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 17 $7,025,000 $413,235 $7,023 3.08%
AMES, IA (FHA|USDA|VA) 52 $6,760,000 $130,000 $3,213 2.72%
Farmington, MO (FHA|USDA|VA) 36 $6,360,000 $176,667 $4,028 3.26%
JOPLIN, MO (FHA|USDA|VA) 37 $5,485,000 $148,243 $3,696 3.27%
DECATUR, IL (FHA|USDA|VA) 34 $4,900,000 $144,118 $2,903 3.26%
Poplar Bluff, MO (FHA|USDA|VA) 28 $4,540,000 $162,143 $4,235 3.25%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 18 $4,490,000 $249,444 $4,877 3.40%
COLUMBIA, MO (FHA|USDA|VA) 22 $4,100,000 $186,364 $3,428 2.99%
Paducah, KY-IL (FHA|USDA|VA) 29 $3,855,000 $132,931 $4,474 2.98%
West Plains, MO (FHA|USDA|VA) 19 $3,415,000 $179,737 $3,738 3.30%
JACKSONVILLE, FL (FHA|USDA|VA) 6 $3,150,000 $525,000 $6,594 3.60%
Beatrice, NE (FHA|USDA|VA) 16 $3,050,000 $190,625 $4,074 3.14%
OCALA, FL (FHA|USDA|VA) 11 $2,935,000 $266,818 $5,967 3.38%
Glenwood Springs, CO (FHA|USDA|VA) 2 $2,890,000 $1,445,000 $6,785 3.81%
Quincy, IL-MO (FHA|USDA|VA) 21 $2,475,000 $117,857 $3,732 3.23%
Murray, KY (FHA|USDA|VA) 18 $2,220,000 $123,333 $3,556 2.81%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 6 $2,090,000 $348,333 $5,272 3.46%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 7 $2,075,000 $296,429 $4,939 3.07%
PUNTA GORDA, FL (FHA|USDA|VA) 6 $2,050,000 $341,667 $9,988 3.17%
Taylorville, IL (FHA|USDA|VA) 20 $2,010,000 $100,500 $2,996 3.50%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 9 $2,005,000 $222,778 $5,729 2.86%
RACINE, WI (FHA|USDA|VA) 11 $1,935,000 $175,909 $4,227 3.28%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 11 $1,885,000 $171,364 $4,518 3.23%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 10 $1,820,000 $182,000 $4,702 2.75%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 6 $1,820,000 $303,333 $5,044 3.48%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 4 $1,760,000 $440,000 $6,818 2.97%
Mayfield, KY (FHA|USDA|VA) 9 $1,745,000 $193,889 $4,827 3.01%
Pella, IA (FHA|USDA|VA) 9 $1,735,000 $192,778 $3,239 2.51%
Central City, KY (FHA|USDA|VA) 15 $1,585,000 $105,667 $3,704 3.00%
Sikeston, MO (FHA|USDA|VA) 11 $1,465,000 $133,182 $3,706 3.39%
Warrensburg, MO (FHA|USDA|VA) 7 $1,435,000 $205,000 $3,866 3.14%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 7 $1,435,000 $205,000 $4,910 3.48%
Centralia, IL (FHA|USDA|VA) 11 $1,425,000 $129,545 $3,001 3.45%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 6 $1,320,000 $220,000 $3,585 2.88%
Fort Dodge, IA (FHA|USDA|VA) 10 $1,290,000 $129,000 $2,861 2.85%
FORT COLLINS, CO (FHA|USDA|VA) 4 $1,200,000 $300,000 $2,766 2.81%
ST. JOSEPH, MO-KS (FHA|USDA|VA) 5 $1,175,000 $235,000 $3,480 3.30%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 5 $1,175,000 $235,000 $7,210 2.88%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 8 $1,160,000 $145,000 $3,310 3.63%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 3 $1,155,000 $385,000 $6,373 3.25%
Kearney, NE (FHA|USDA|VA) 7 $1,135,000 $162,143 $2,597 2.91%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 5 $1,135,000 $227,000 $3,818 3.15%
Key West, FL (FHA|USDA|VA) 1 $1,125,000 $1,125,000 $9,872 3.13%
IOWA CITY, IA (FHA|USDA|VA) 5 $1,115,000 $223,000 $2,323 2.10%
WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 6 $1,110,000 $185,000 $4,013 3.35%
Marshalltown, IA (FHA|USDA|VA) 5 $1,085,000 $217,000 $3,732 2.85%
Lebanon, MO (FHA|USDA|VA) 5 $945,000 $189,000 $3,807 3.43%
Fremont, NE (FHA|USDA|VA) 6 $940,000 $156,667 $4,656 3.48%
Rolla, MO (FHA|USDA|VA) 6 $920,000 $153,333 $3,039 3.44%
Effingham, IL (FHA|USDA|VA) 6 $920,000 $153,333 $4,293 3.21%
Mason City, IA (FHA|USDA|VA) 3 $865,000 $288,333 $3,661 3.13%
OKLAHOMA CITY, OK (FHA|USDA|VA) 2 $790,000 $395,000 $4,903 3.63%
Spirit Lake, IA (FHA|USDA|VA) 2 $780,000 $390,000 $2,536 2.81%
Mount Vernon, IL (FHA|USDA|VA) 7 $745,000 $106,429 $3,477 3.61%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 3 $695,000 $231,667 $4,789 3.00%
Sevierville, TN (FHA|USDA|VA) 1 $675,000 $675,000 $8,175 3.25%
Lexington, NE (FHA|USDA|VA) 6 $670,000 $111,667 $3,437 2.21%
Oskaloosa, IA (FHA|USDA|VA) 3 $625,000 $208,333 $4,387 3.21%
GAINESVILLE, FL (FHA|USDA|VA) 3 $575,000 $191,667 $5,917 3.29%
KNOXVILLE, TN (FHA|USDA|VA) 1 $535,000 $535,000 $3,925 2.75%
Breckenridge, CO (FHA|USDA|VA) 1 $505,000 $505,000 $4,417 2.50%
Harrison, AR (FHA|USDA|VA) 2 $500,000 $250,000 $6,668 2.88%
SPRINGFIELD, IL (FHA|USDA|VA) 4 $500,000 $125,000 $4,784 3.28%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 2 $480,000 $240,000 $3,184 2.75%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 2 $470,000 $235,000 $2,172 3.50%
Mexico, MO (FHA|USDA|VA) 4 $470,000 $117,500 $3,635 2.97%
COLORADO SPRINGS, CO (FHA|USDA|VA) 2 $460,000 $230,000 $2,483 3.00%
Edwards, CO (FHA|USDA|VA) 1 $455,000 $455,000 $3,073 3.00%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 2 $440,000 $220,000 $3,747 3.19%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $435,000 $435,000 $3,445 2.75%
Galesburg, IL (FHA|USDA|VA) 5 $435,000 $87,000 $3,714 3.83%
Campbellsville, KY (FHA|USDA|VA) 4 $430,000 $107,500 $2,171 2.91%
Charleston-Mattoon, IL (FHA|USDA|VA) 4 $430,000 $107,500 $3,456 3.28%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $415,000 $415,000 $4,310 3.25%
CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 2 $390,000 $195,000 $2,951 3.38%
Russellville, AR (FHA|USDA|VA) 5 $385,000 $77,000 $2,715 2.18%
GRAND ISLAND, NE (FHA|USDA|VA) 3 $365,000 $121,667 $3,940 3.67%
BLOOMINGTON, IN (FHA|USDA|VA) 2 $360,000 $180,000 $2,458 3.06%
Jacksonville, IL (FHA|USDA|VA) 4 $360,000 $90,000 $3,353 3.59%
THE VILLAGES, FL (FHA|USDA|VA) 2 $360,000 $180,000 $5,801 3.75%
Fort Leonard Wood, MO (FHA|USDA|VA) 2 $340,000 $170,000 $4,214 2.81%
Norfolk, NE (FHA|USDA|VA) 3 $335,000 $111,667 $3,738 3.21%
LAWRENCE, KS (FHA|USDA|VA) 1 $335,000 $335,000 $14,384 3.25%
Whitewater, WI (FHA|USDA|VA) 1 $325,000 $325,000 $3,063 3.50%
Clewiston, FL (FHA|USDA|VA) 1 $305,000 $305,000 $8,354 3.63%
BOWLING GREEN, KY (FHA|USDA|VA) 2 $270,000 $135,000 $3,029 4.00%
PEORIA, IL (FHA|USDA|VA) 2 $260,000 $130,000 $2,487 3.31%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $245,000 $245,000 $4,972 3.63%
LONGVIEW, TX (FHA|USDA|VA) 1 $235,000 $235,000 $4,138 3.13%
MANHATTAN, KS (FHA|USDA|VA) 1 $225,000 $225,000 $2,513 3.38%
ABILENE, TX (FHA|USDA|VA) 1 $215,000 $215,000 $3,572 3.75%
Montrose, CO (FHA|USDA|VA) 1 $205,000 $205,000 $1,805 2.38%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $205,000 $205,000 $2,144 3.50%
Hannibal, MO (FHA|USDA|VA) 1 $205,000 $205,000 $2,105 3.38%
PANAMA CITY, FL (FHA|USDA|VA) 1 $185,000 $185,000 $3,590 3.13%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $165,000 $165,000 $3,044 3.00%
Paragould, AR (FHA|USDA|VA) 1 $155,000 $155,000 $2,404 3.25%
DUBUQUE, IA (FHA|USDA|VA) 2 $150,000 $75,000 $2,839 1.25%
Winfield, KS (FHA|USDA|VA) 1 $145,000 $145,000 $3,727 2.88%
Somerset, KY (FHA|USDA|VA) 1 $145,000 $145,000 $1,369 2.63%
WACO, TX (FHA|USDA|VA) 1 $135,000 $135,000 $3,532 2.75%
LAWTON, OK (FHA|USDA|VA) 1 $135,000 $135,000 $3,091 3.13%
OWENSBORO, KY (FHA|USDA|VA) 1 $135,000 $135,000 $5,060 3.25%
Ottumwa, IA (FHA|USDA|VA) 2 $130,000 $65,000 $2,421 1.63%
Shawnee, OK (FHA|USDA|VA) 1 $125,000 $125,000 $2,255 3.13%
Carroll, IA (FHA|USDA|VA) 1 $125,000 $125,000 $4,767 3.13%
Kirksville, MO (FHA|USDA|VA) 1 $115,000 $115,000 $4,659 3.63%
Madisonville, KY (FHA|USDA|VA) 2 $110,000 $55,000 $2,076 2.13%
HOT SPRINGS, AR (FHA|USDA|VA) 1 $105,000 $105,000 $2,527 3.00%
FORT SMITH, AR-OK (FHA|USDA|VA) 1 $95,000 $95,000 $3,500 2.88%
CEDAR RAPIDS, IA (FHA|USDA|VA) 1 $85,000 $85,000 $2,345 2.50%
McAlester, OK (FHA|USDA|VA) 1 $85,000 $85,000 $2,531 3.25%
Marshall, MO (FHA|USDA|VA) 1 $75,000 $75,000 $3,473 3.25%
ROCKFORD, IL (FHA|USDA|VA) 1 $55,000 $55,000 $2,947 4.38%
Coffeyville, KS (FHA|USDA|VA) 1 $55,000 $55,000 $5,845 4.75%

Gershman Investment Corp.'s top markets include St. Louis, Tampa, Des Moines, Springfield, and Lincoln among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 5,818 $1,192,210,000 $204,917 $2,744 2.95%
FHA 1,967 $359,145,000 $182,585 $6,048 3.29%
VA 773 $204,625,000 $264,715 $5,143 2.89%
USDA 421 $59,455,000 $141,223 $3,971 3.08%

For the 2021 period, Gershman Investment Corp.'s most frequently originated loan type of loans were Conventional, with 5,818 originations. Their 2nd most popular type is FHA, with 1,967 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 6,562 $1,325,730,000 $202,031 $4,109 3.01%
Refi 1,616 $326,090,000 $201,788 $2,453 2.96%
Cash Out Refi 801 $163,615,000 $204,263 $3,219 3.28%

For the 2021, Gershman Investment Corp.'s most frequently cited loan purpose of loans were Home Purchase, with 6,562 originations. The 2nd most popular reason of loans were Refi, with 1,616 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 8,077 $1,669,175,000 $206,658 $3,930 3.09%
15 Year 475 $97,185,000 $204,600 $2,455 2.67%
10 Year 206 $5,260,000 $25,534 $323 1.41%
20 Year 148 $31,200,000 $210,811 $2,518 2.93%
Other 68 $12,590,000 $185,147 $2,291 3.08%
5 Year 5 $25,000 $5,000 $0 0.00%

For the 2021, Gershman Investment Corp.'s most frequently cited loan length of loans were 30 Year, with 8,077 originations. The 2nd most popular length of loans were 15 Year, with 475 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 5,644 $1,088,420,000 $192,845
$1k-2k 2,652 $552,460,000 $208,318
$2k-3k 397 $86,735,000 $218,476
$3k-4k 198 $54,070,000 $273,081
$5k+ 88 $33,750,000 $383,523

$3,930 of loans were Gershman Investment Corp.'s average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 5,644 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 4,539 $932,055,000 $205,344
2.5-3% 2,972 $659,870,000 $222,029
<2.5% 1,058 $156,380,000 $147,807
4-5% 388 $66,400,000 $171,134
5-6% 20 $220,000 $11,000
6-7% 2 $510,000 $255,000

During 2021, Gershman Investment Corp.'s average interest rate of loans were 3.09%, while their most frequently originated rate bucket of loans were 3-4%, with 4,539 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 3,860 $584,390,000 $151,396 $3,474 3.20%
$200k-400k 3,260 $880,250,000 $270,015 $4,547 3.12%
$100,000 or less 1,320 $68,760,000 $52,091 $1,841 2.29%
$400k-600k 481 $227,205,000 $472,360 $4,811 2.98%
$600k-1MM 40 $28,440,000 $711,000 $9,172 3.11%
$1MM+ 18 $26,390,000 $1,466,111 $9,107 3.22%

2021 saw Gershman Investment Corp. place emphasis on $100k-200k loans with 3,860 originations, totaling $584,390,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k or less 2,638 $348,710,000 $132,187 $3,259 2.93%
$50k-75k 2,586 $456,110,000 $176,377 $3,794 3.00%
$75k-100k 1,491 $331,875,000 $222,586 $4,014 3.10%
$100k-150k 1,353 $360,005,000 $266,079 $3,994 3.13%
$150k-250k 619 $203,345,000 $328,506 $4,130 3.13%
$250k+ 209 $91,345,000 $437,057 $4,304 3.17%

Gershman Investment Corp. lent most frequently to those with incomes in the $50k or less range, with 2,638 originations. The second most popular income band? $50k-75k, with 2,586 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 1,863 $352,495,000 $189,208 $3,042 2.87%
30-36% 1,719 $325,245,000 $189,206 $3,445 2.98%
<20% 551 $108,795,000 $197,450 $2,765 2.96%
50-60% 470 $100,970,000 $214,830 $6,289 3.17%
44% 415 $88,485,000 $213,217 $4,118 3.19%
39% 339 $70,315,000 $207,419 $4,029 3.11%
43% 333 $68,075,000 $204,429 $3,830 3.07%
38% 330 $63,340,000 $191,939 $3,652 3.04%
42% 329 $70,375,000 $213,906 $4,078 3.16%
41% 328 $69,420,000 $211,646 $3,940 3.13%
37% 316 $62,520,000 $197,848 $3,814 3.02%
40% 315 $64,535,000 $204,873 $3,981 3.12%
36% 281 $55,155,000 $196,281 $3,667 3.10%
49% 254 $55,070,000 $216,811 $4,551 3.17%
48% 231 $52,255,000 $226,212 $4,687 3.23%
46% 225 $53,315,000 $236,956 $4,277 3.11%
45% 212 $44,630,000 $210,519 $4,279 3.18%
47% 202 $43,060,000 $213,168 $4,186 3.21%
>60% 91 $26,335,000 $289,396 $3,304 2.87%

Gershman Investment Corp. lent most frequently to those with DTI ratios of 20-30%, with 1,863 originations. The next most common DTI ratio? 30-36%, with 1,719 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 7,662 $1,546,850,000 $201,886 $3,650 3.04%
Not provided 483 $104,905,000 $217,195 $4,063 3.03%
Black 525 $92,805,000 $176,771 $4,355 2.88%
Asian 250 $56,890,000 $227,560 $4,108 2.98%
American Indian 49 $11,735,000 $239,490 $4,425 2.95%
Native Hawaiian 10 $2,250,000 $225,000 $4,455 3.13%

Approval Rates

Total approvals of all applications
97.34%

Gershman Investment Corp. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
74.85%

Gershman Investment Corp. has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 8,979 $1,815,435,000 $202,187

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
8,979 $1,815,435,000 $202,187

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 139 $18,715,000 $134,640 $2,463 2.98%
40-60% 574 $108,930,000 $189,774 $2,520 2.97%
60-80% 2,079 $464,165,000 $223,264 $2,998 3.19%
80-100% 5,563 $1,181,845,000 $212,447 $4,329 3.19%
Over 100% 131 $38,015,000 $290,191 $10,356 2.98%
Under 20% 491 $3,475,000 $7,077 $80 0.50%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
GERSHMAN INVESTMENT CORPORATION FHA mortgage Closing on a mortgage 1 100.0%