Gershman Investment Corp. Mortgage Rates, Fees & Info
LITTLE ROCK, ARLEI: 549300NB3SBC1KHAWB92
Tax ID: 43-0710608
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Mortgage Data
Review & Overview
Gershman Investment Corp. is a smaller 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 by origination volume include: St. Louis, Tampa, Springfield, Lincoln, and Fayetteville among others. We have data for 115 markets. (Some data included below & more in-depth data is available with an active subscription.)Gershman Investment Corp. 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. Gershman Investment Corp. 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.65% | 10/29/24 |
| 30 Year Conventional Refi | 6.65% | 10/29/24 |
| 30 Year Cash-out Refi | 6.93% | 10/29/24 |
| 30 Year FHA Purchase | 7.64% | 10/29/24 |
| 30 Year FHA Refi | 7.24% | 10/29/24 |
| 30 Year VA Purchase | 6.47% | 10/29/24 |
| 30 Year VA Refi | 6.57% | 10/29/24 |
| 30 Year USDA Purchase | 7.01% | 10/29/24 |
| 30 Year USDA Refi | 6.71% | 10/29/24 |
| 15 Year Conventional Purchase | 6.05% | 10/29/24 |
| 15 Year Conventional Refi | 6.43% | 10/29/24 |
| 15 Year Cash-out Refi | 6.43% | 10/29/24 |
| 15 Year FHA Purchase | 5.68% | 10/29/24 |
| 15 Year FHA Refi | 5.68% | 10/29/24 |
| 15 Year VA Refi | 5.60% | 10/29/24 |
| 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. | ||
Gershman Investment Corp. Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
3,420Origination Dollar Volume (All Markets)
$770,340,000Awards
GERSHMAN INVESTMENT CORP. - 2023
GERSHMAN INVESTMENT CORP. is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Gershman Investment Corp.'s average 30 year fixed mortgage rate was
6.78%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.3%.
Relative Fees (Closing Costs)
Gershman Investment Corp.'s average total fees/closing costs for a 30 year fixed rate
mortgage were $5,448.
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 |
|---|---|---|---|---|---|
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 858 | $181,710,000 | $211,783 | $4,996 | 6.48% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 258 | $97,240,000 | $376,899 | $9,267 | 6.48% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 408 | $90,830,000 | $222,623 | $4,567 | 6.82% |
| LINCOLN, NE (FHA|USDA|VA) | 332 | $72,880,000 | $219,518 | $4,416 | 6.12% |
| Outside of Metro Areas | 353 | $57,785,000 | $163,697 | $4,410 | 6.52% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 165 | $54,565,000 | $330,697 | $5,797 | 6.38% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 193 | $49,785,000 | $257,953 | $4,301 | 6.11% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 153 | $31,015,000 | $202,712 | $4,637 | 5.81% |
| Paducah, KY-IL (FHA|USDA|VA) | 74 | $9,560,000 | $129,189 | $3,897 | 6.44% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 30 | $6,600,000 | $220,000 | $5,049 | 6.43% |
| CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) | 38 | $6,580,000 | $173,158 | $5,151 | 6.69% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 37 | $5,975,000 | $161,486 | $5,126 | 6.89% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 26 | $5,850,000 | $225,000 | $5,099 | 7.05% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 23 | $5,235,000 | $227,609 | $7,128 | 6.54% |
| Farmington, MO (FHA|USDA|VA) | 32 | $5,200,000 | $162,500 | $5,169 | 6.13% |
| JOPLIN, MO (FHA|USDA|VA) | 29 | $5,045,000 | $173,966 | $4,958 | 6.59% |
| JEFFERSON CITY, MO (FHA|USDA|VA) | 23 | $4,915,000 | $213,696 | $3,794 | 6.95% |
| Branson, MO (FHA|USDA|VA) | 24 | $4,560,000 | $190,000 | $4,327 | 6.88% |
| Sedalia, MO (FHA|USDA|VA) | 23 | $4,525,000 | $196,739 | $4,377 | 6.56% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 10 | $4,060,000 | $406,000 | $10,648 | 6.90% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 14 | $3,730,000 | $266,429 | $4,780 | 6.57% |
| COLUMBIA, MO (FHA|USDA|VA) | 16 | $3,480,000 | $217,500 | $4,814 | 6.90% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 13 | $3,415,000 | $262,692 | $7,856 | 5.71% |
| Mayfield, KY (FHA|USDA|VA) | 26 | $3,300,000 | $126,923 | $3,913 | 6.35% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 9 | $3,145,000 | $349,444 | $7,395 | 6.82% |
| Murray, KY (FHA|USDA|VA) | 14 | $3,000,000 | $214,286 | $4,243 | 6.76% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 7 | $2,275,000 | $325,000 | $9,688 | 6.55% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 4 | $2,100,000 | $525,000 | $8,881 | 7.06% |
| Beatrice, NE (FHA|USDA|VA) | 16 | $1,850,000 | $115,625 | $3,016 | 5.13% |
| Taylorville, IL (FHA|USDA|VA) | 14 | $1,780,000 | $127,143 | $4,823 | 7.07% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 6 | $1,760,000 | $293,333 | $5,478 | 6.75% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 11 | $1,565,000 | $142,273 | $4,658 | 7.27% |
| West Plains, MO (FHA|USDA|VA) | 8 | $1,560,000 | $195,000 | $4,497 | 7.02% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 8 | $1,340,000 | $167,500 | $4,527 | 4.44% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 4 | $1,310,000 | $327,500 | $5,946 | 5.16% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 6 | $1,260,000 | $210,000 | $4,953 | 5.58% |
| AMES, IA (FHA|USDA|VA) | 6 | $1,250,000 | $208,333 | $4,017 | 6.54% |
| Galesburg, IL (FHA|USDA|VA) | 11 | $1,205,000 | $109,545 | $4,539 | 6.89% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 3 | $1,085,000 | $361,667 | $10,250 | 6.96% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 3 | $1,075,000 | $358,333 | $8,861 | 6.83% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $1,060,000 | $530,000 | $14,297 | 7.13% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $940,000 | $470,000 | $2,673 | 6.38% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 2 | $910,000 | $455,000 | $5,922 | 6.19% |
| Quincy, IL-MO (FHA|USDA|VA) | 8 | $890,000 | $111,250 | $4,101 | 7.00% |
| PEORIA, IL (FHA|USDA|VA) | 3 | $815,000 | $271,667 | $5,580 | 7.29% |
| FORT SMITH, AR-OK (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $5,678 | 5.96% |
| Harrison, AR (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $5,327 | 6.83% |
| Palatka, FL (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $22,263 | 6.25% |
| Sikeston, MO (FHA|USDA|VA) | 5 | $705,000 | $141,000 | $4,162 | 6.98% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $7,008 | 6.38% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $5,116 | 6.38% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $3,662 | 7.44% |
| Centralia, IL (FHA|USDA|VA) | 5 | $585,000 | $117,000 | $5,347 | 6.90% |
| Effingham, IL (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $4,814 | 7.04% |
| Fremont, NE (FHA|USDA|VA) | 4 | $510,000 | $127,500 | $5,289 | 5.25% |
| OCALA, FL (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $14,307 | 6.56% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $3,284 | 5.88% |
| Madisonville, KY (FHA|USDA|VA) | 5 | $485,000 | $97,000 | $4,182 | 6.25% |
| Marshalltown, IA (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $5,066 | 6.75% |
| Charleston-Mattoon, IL (FHA|USDA|VA) | 4 | $430,000 | $107,500 | $4,756 | 7.78% |
| Lebanon, MO (FHA|USDA|VA) | 3 | $405,000 | $135,000 | $4,586 | 7.17% |
| Mount Vernon, IL (FHA|USDA|VA) | 4 | $400,000 | $100,000 | $4,285 | 7.00% |
| WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $2,294 | 6.75% |
| Carroll, IA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $8,621 | 6.00% |
| Ottumwa, IA (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $2,899 | 6.50% |
| Mountain Home, AR (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $4,275 | 7.06% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $2,202 | 6.25% |
| Hannibal, MO (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $9,722 | 8.25% |
| ST. JOSEPH, MO-KS (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $2,421 | 7.81% |
| Poplar Bluff, MO (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $3,297 | 6.63% |
| Central City, KY (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $3,863 | 6.04% |
| Stillwater, OK (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,911 | 6.00% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $5,280 | 6.69% |
| Jacksonville, IL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $8,660 | 7.25% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,397 | 6.75% |
| Hastings, NE (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,324 | 7.25% |
| IOWA CITY, IA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,839 | 7.13% |
| Russellville, AR (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $4,702 | 6.44% |
| Kearney, NE (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,150 | 5.75% |
| Mount Pleasant, TX (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $1,622 | 5.88% |
| DUBUQUE, IA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,552 | 6.25% |
| Searcy, AR (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,231 | 6.63% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $1,009 | 6.13% |
| TULSA, OK (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $8,019 | 6.50% |
| ODESSA, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $8,707 | 6.75% |
| Eufaula, AL-GA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,726 | 7.13% |
| Dodge City, KS (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,780 | 7.13% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,079 | 7.75% |
| Moberly, MO (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $3,304 | 7.44% |
| DOTHAN, AL (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $3,746 | 6.50% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,006 | 7.63% |
| El Dorado, AR (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,182 | 5.75% |
| Fort Leonard Wood, MO (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $5,203 | 7.13% |
| Guymon, OK (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,690 | 7.13% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,849 | 6.75% |
| Batesville, AR (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,995 | 6.88% |
| Paris, TN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 7.75% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,707 | 7.38% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,215 | 6.38% |
| Ardmore, OK (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,683 | 7.13% |
| Mexico, MO (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,766 | 6.38% |
| Rolla, MO (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,870 | 6.75% |
| Hope, AR (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,771 | 7.25% |
| Whitewater, WI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,602 | 8.13% |
| GRAND ISLAND, NE (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $5,384 | 6.63% |
| Fort Dodge, IA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,329 | 6.00% |
| Oskaloosa, IA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,990 | 6.88% |
| Maryville, MO (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $2,584 | 3.25% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $4,701 | 7.13% |
| Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,891 | 6.38% |
| Pittsburg, KS (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,939 | 7.13% |
| Arkadelphia, AR (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $5,342 | 7.13% |
| West Point, MS (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,438 | 6.75% |
| Alexander City, AL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,907 | 7.00% |
| Marshall, MO (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,151 | 6.00% |
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Product Mix
For 2023, Gershman Investment Corp.'s most frequently originated type of loan was Conventional, with 2,111 originations. Their 2nd most popular type was FHA, with 861 originations.
Loan Reason
For 2023, Gershman Investment Corp.'s most frequently cited loan purpose was Home Purchase, with 3,262 originations. The 2nd most popular reason was Cash Out Refi, with 99 originations.
Loan Duration/Length
For 2023, Gershman Investment Corp.'s most frequently cited loan duration was 30 Year, with 3,204 originations. The 2nd most popular length was 10 Year, with 188 originations.
Origination Fees/Closing Costs
Gershman Investment Corp.'s average total fees were $5,448, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,369 originations.
Interest Rates
During 2023, Gershman Investment Corp.'s average interest rate for loans was 6.78%, while their most frequently originated rate bucket for loans was 6-7%, with 1,545 originations.
Loan Sizing
2023 saw Gershman Investment Corp. place emphasis on $200k-400k loans with 1,423 originations, totaling $394,795,000 in origination value.
Applicant Income
Gershman Investment Corp. lent most frequently to those with incomes in the $50k-75k range, with 902 originations. The second most popular income band? $100k-150k, with 703 originations.
Applicant Debt to Income Ratio
Gershman Investment Corp. lent most frequently to those with DTI ratios of 30-36%, with 599 originations. The next most common DTI ratio? 20-30%, with 526 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.68%
Gershman Investment Corp. has an average approval rate.
Pick Rate
Approvals leading to origination74.15%
Gershman Investment Corp. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 3,420 | $770,340,000 | $225,246 |