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 a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: St. Louis, Des Moines, Springfield, Tampa, and Waterloo among others. We have data for 74 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 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.65% | 4/22/24 |
| 30 Year Conventional Refi | 6.65% | 4/22/24 |
| 30 Year Cash-out Refi | 6.93% | 4/22/24 |
| 30 Year FHA Purchase | 7.64% | 4/22/24 |
| 30 Year FHA Refi | 7.24% | 4/22/24 |
| 30 Year VA Purchase | 6.47% | 4/22/24 |
| 30 Year VA Refi | 6.57% | 4/22/24 |
| 30 Year USDA Purchase | 7.01% | 4/22/24 |
| 30 Year USDA Refi | 6.71% | 4/22/24 |
| 15 Year Conventional Purchase | 6.05% | 4/22/24 |
| 15 Year Conventional Refi | 6.43% | 4/22/24 |
| 15 Year Cash-out Refi | 6.43% | 4/22/24 |
| 15 Year FHA Purchase | 5.68% | 4/22/24 |
| 15 Year FHA Refi | 5.68% | 4/22/24 |
| 15 Year VA Refi | 5.60% | 4/22/24 |
| 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
4,078Origination Dollar Volume (All Markets)
$719,300,000Awards
GERSHMAN INVESTMENT CORP. - 2018
GERSHMAN INVESTMENT CORP. 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 |
|---|---|---|---|---|---|
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1,696 | $320,060,000 | $188,715 | $4,081 | 4.83% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 522 | $99,740,000 | $191,073 | $3,569 | 4.75% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 515 | $77,345,000 | $150,184 | $3,865 | 4.74% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 348 | $77,320,000 | $222,184 | $5,364 | 4.97% |
| Outside of Metro Areas | 317 | $39,535,000 | $124,716 | $3,410 | 4.84% |
| WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) | 108 | $14,690,000 | $136,019 | $4,281 | 4.89% |
| Branson, MO (FHA|USDA|VA) | 53 | $8,995,000 | $169,717 | $3,478 | 4.87% |
| JEFFERSON CITY, MO (FHA|USDA|VA) | 46 | $7,360,000 | $160,000 | $2,664 | 4.79% |
| Sedalia, MO (FHA|USDA|VA) | 44 | $7,180,000 | $163,182 | $3,180 | 4.71% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 26 | $6,440,000 | $247,692 | $3,236 | 4.59% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 45 | $6,115,000 | $135,889 | $3,605 | 4.92% |
| AMES, IA (FHA|USDA|VA) | 28 | $3,870,000 | $138,214 | $3,343 | 4.80% |
| COLUMBIA, MO (FHA|USDA|VA) | 23 | $3,775,000 | $164,130 | $3,134 | 4.58% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 26 | $3,420,000 | $131,538 | $3,452 | 4.68% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 20 | $2,970,000 | $148,500 | $3,846 | 4.76% |
| CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) | 17 | $2,945,000 | $173,235 | $4,478 | 4.45% |
| Taylorville, IL (FHA|USDA|VA) | 27 | $2,925,000 | $108,333 | $2,873 | 4.89% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 8 | $2,350,000 | $293,750 | $8,144 | 4.89% |
| Burlington, IA-IL (FHA|USDA|VA) | 18 | $2,070,000 | $115,000 | $3,533 | 4.82% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 6 | $2,030,000 | $338,333 | $3,907 | 4.60% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 11 | $1,985,000 | $180,455 | $7,154 | 5.01% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 6 | $1,760,000 | $293,333 | $6,513 | 4.98% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 12 | $1,710,000 | $142,500 | $3,271 | 4.52% |
| Mount Vernon, IL (FHA|USDA|VA) | 14 | $1,450,000 | $103,571 | $3,483 | 5.05% |
| Effingham, IL (FHA|USDA|VA) | 8 | $1,230,000 | $153,750 | $4,143 | 4.92% |
| Pella, IA (FHA|USDA|VA) | 9 | $1,165,000 | $129,444 | $3,561 | 4.78% |
| Rolla, MO (FHA|USDA|VA) | 9 | $1,145,000 | $127,222 | $2,675 | 4.89% |
| JOPLIN, MO (FHA|USDA|VA) | 8 | $1,050,000 | $131,250 | $4,401 | 4.70% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 4 | $1,010,000 | $252,500 | $3,793 | 4.25% |
| West Plains, MO (FHA|USDA|VA) | 6 | $910,000 | $151,667 | $2,970 | 4.81% |
| Farmington, MO (FHA|USDA|VA) | 6 | $880,000 | $146,667 | $3,344 | 4.83% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 5 | $845,000 | $169,000 | $3,823 | 4.83% |
| Sikeston, MO (FHA|USDA|VA) | 6 | $820,000 | $136,667 | $3,909 | 4.83% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $6,889 | 5.46% |
| Poplar Bluff, MO (FHA|USDA|VA) | 4 | $780,000 | $195,000 | $3,212 | 4.69% |
| Norfolk, NE (FHA|USDA|VA) | 5 | $745,000 | $149,000 | $2,743 | 4.60% |
| FORT COLLINS, CO (FHA|USDA|VA) | 3 | $745,000 | $248,333 | $3,403 | 4.58% |
| Charleston-Mattoon, IL (FHA|USDA|VA) | 5 | $655,000 | $131,000 | $4,089 | 4.75% |
| ST. JOSEPH, MO-KS (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $5,873 | 4.67% |
| Jacksonville, IL (FHA|USDA|VA) | 6 | $610,000 | $101,667 | $2,471 | 4.88% |
| Fort Dodge, IA (FHA|USDA|VA) | 4 | $500,000 | $125,000 | $2,769 | 4.94% |
| Quincy, IL-MO (FHA|USDA|VA) | 4 | $470,000 | $117,500 | $4,461 | 5.34% |
| Lebanon, MO (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $2,249 | 4.79% |
| THE VILLAGES, FL (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $6,521 | 5.50% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $2,482 | 4.50% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $4,765 | 5.19% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $6,028 | 4.75% |
| DECATUR, IL (FHA|USDA|VA) | 3 | $295,000 | $98,333 | $3,319 | 4.46% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,773 | 4.38% |
| LAWTON, OK (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,349 | 4.38% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,302 | 4.63% |
| PEORIA, IL (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $3,077 | 5.56% |
| Lincoln, IL (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $2,569 | 4.81% |
| PUEBLO, CO (FHA|USDA|VA) | 3 | $195,000 | $65,000 | $2,434 | 5.79% |
| IOWA CITY, IA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,098 | 4.63% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $8,981 | 5.25% |
| TULSA, OK (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,290 | 4.63% |
| Centralia, IL (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $5,105 | 5.25% |
| Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,502 | 4.75% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,193 | 4.63% |
| Ottawa, IL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,637 | 4.88% |
| Paducah, KY-IL (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $3,069 | 4.50% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,863 | 5.00% |
| Carroll, IA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,619 | 5.13% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $6,749 | 3.88% |
| Salina, KS (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,963 | 4.88% |
| Fort Leonard Wood, MO (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $426 | 4.63% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,856 | 4.75% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,102 | 6.13% |
| Stillwater, OK (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $5,184 | 4.38% |
| Hannibal, MO (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,265 | 5.25% |
| Marshalltown, IA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,805 | 4.88% |
| Warrensburg, MO (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,842 | 5.75% |
| Miami, OK (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $4,817 | 5.25% |
Similar Lenders
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Product Mix
For 2018, Gershman Investment Corp.'s most frequently originated type of loan was Conventional, with 1,902 originations. Their 2nd most popular type was FHA, with 1,297 originations.
Loan Reason
For 2018, Gershman Investment Corp.'s most frequently cited loan purpose was Home Purchase, with 3,595 originations. The 2nd most popular reason was Refi, with 377 originations.
Loan Duration/Length
For 2018, Gershman Investment Corp.'s most frequently cited loan duration was 30 Year, with 3,929 originations. The 2nd most popular length was 15 Year, with 61 originations.
Origination Fees/Closing Costs
Gershman Investment Corp.'s average total fees were $4,013, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,998 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 2,798 | $523,450,000 | $187,080 |
| 5-6% | 1,013 | $153,995,000 | $152,019 |
| 3-4% | 172 | $35,470,000 | $206,221 |
| 6-7% | 21 | $3,575,000 | $170,238 |
| Over 8% | 2 | $350,000 | $175,000 |
During 2018, Gershman Investment Corp.'s average interest rate for loans was 4.82%, while their most frequently originated rate bucket for loans was 4-5%, with 2,798 originations.
Loan Sizing
2018 saw Gershman Investment Corp. place emphasis on $100k-200k loans with 2,013 originations, totaling $295,965,000 in origination value.
Applicant Income
Gershman Investment Corp. lent most frequently to those with incomes in the $50k or less range, with 1,300 originations. The second most popular income band? $50k-75k, with 1,202 originations.
Applicant Debt to Income Ratio
Gershman Investment Corp. lent most frequently to those with DTI ratios of 30-36%, with 741 originations. The next most common DTI ratio? 20-30%, with 733 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.02%
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 origination73.88%
Gershman Investment Corp. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 4,078 | $719,300,000 | $176,385 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 34 | $3,390,000 | $99,706 |
| Single Family (1-4 Units):Site-Built | 4,044 | $715,910,000 | $177,030 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| GERSHMAN INVESTMENT CORPORATION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |