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 small mortgage company specializing in Home Purchase and Refi 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, Des Moines, Tampa, Springfield, and Lincoln among others. We have data for 122 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% | 11/23/24 |
| 30 Year Conventional Refi | 6.65% | 11/23/24 |
| 30 Year Cash-out Refi | 6.93% | 11/23/24 |
| 30 Year FHA Purchase | 7.64% | 11/23/24 |
| 30 Year FHA Refi | 7.24% | 11/23/24 |
| 30 Year VA Purchase | 6.47% | 11/23/24 |
| 30 Year VA Refi | 6.57% | 11/23/24 |
| 30 Year USDA Purchase | 7.01% | 11/23/24 |
| 30 Year USDA Refi | 6.71% | 11/23/24 |
| 15 Year Conventional Purchase | 6.05% | 11/23/24 |
| 15 Year Conventional Refi | 6.43% | 11/23/24 |
| 15 Year Cash-out Refi | 6.43% | 11/23/24 |
| 15 Year FHA Purchase | 5.68% | 11/23/24 |
| 15 Year FHA Refi | 5.68% | 11/23/24 |
| 15 Year VA Refi | 5.60% | 11/23/24 |
| 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
8,663Origination Dollar Volume (All Markets)
$1,790,835,000Awards
GERSHMAN INVESTMENT CORP. - 2020
GERSHMAN INVESTMENT CORP. is a 2020 , due to their low .
For 2020, 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) | 3,136 | $662,180,000 | $211,154 | $3,302 | 3.24% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1,180 | $261,200,000 | $221,356 | $3,114 | 2.93% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 765 | $196,695,000 | $257,118 | $5,809 | 3.26% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 847 | $155,785,000 | $183,926 | $3,774 | 3.21% |
| LINCOLN, NE (FHA|USDA|VA) | 468 | $92,030,000 | $196,645 | $3,420 | 3.11% |
| Outside of Metro Areas | 581 | $89,475,000 | $154,002 | $3,403 | 3.29% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 445 | $84,055,000 | $188,888 | $3,533 | 3.07% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 135 | $38,435,000 | $284,704 | $2,493 | 2.92% |
| JEFFERSON CITY, MO (FHA|USDA|VA) | 107 | $17,395,000 | $162,570 | $2,395 | 3.13% |
| Sedalia, MO (FHA|USDA|VA) | 87 | $14,775,000 | $169,828 | $2,837 | 3.25% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 37 | $13,495,000 | $364,730 | $2,991 | 3.04% |
| Branson, MO (FHA|USDA|VA) | 69 | $12,865,000 | $186,449 | $3,804 | 3.43% |
| CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) | 66 | $10,390,000 | $157,424 | $3,619 | 3.20% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 66 | $10,340,000 | $156,667 | $2,983 | 3.05% |
| AMES, IA (FHA|USDA|VA) | 60 | $10,140,000 | $169,000 | $3,341 | 2.87% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 24 | $7,200,000 | $300,000 | $5,228 | 3.37% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 24 | $6,680,000 | $278,333 | $5,123 | 3.31% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 30 | $6,600,000 | $220,000 | $4,207 | 3.30% |
| COLUMBIA, MO (FHA|USDA|VA) | 31 | $5,575,000 | $179,839 | $3,629 | 3.17% |
| Farmington, MO (FHA|USDA|VA) | 31 | $5,335,000 | $172,097 | $4,126 | 3.10% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 27 | $5,295,000 | $196,111 | $6,089 | 3.16% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 24 | $4,640,000 | $193,333 | $5,684 | 3.27% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 12 | $3,520,000 | $293,333 | $5,531 | 3.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 11 | $3,335,000 | $303,182 | $4,838 | 3.39% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 12 | $3,120,000 | $260,000 | $4,528 | 3.14% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 10 | $2,980,000 | $298,000 | $4,201 | 3.34% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 15 | $2,975,000 | $198,333 | $4,187 | 2.94% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 8 | $2,950,000 | $368,750 | $3,280 | 3.20% |
| West Plains, MO (FHA|USDA|VA) | 20 | $2,940,000 | $147,000 | $3,289 | 3.27% |
| Taylorville, IL (FHA|USDA|VA) | 25 | $2,865,000 | $114,600 | $2,911 | 3.62% |
| DECATUR, IL (FHA|USDA|VA) | 15 | $2,295,000 | $153,000 | $2,568 | 3.59% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 17 | $2,235,000 | $131,471 | $3,229 | 3.23% |
| Marshalltown, IA (FHA|USDA|VA) | 10 | $1,970,000 | $197,000 | $4,002 | 2.78% |
| Pella, IA (FHA|USDA|VA) | 12 | $1,940,000 | $161,667 | $4,089 | 2.69% |
| Beatrice, NE (FHA|USDA|VA) | 11 | $1,805,000 | $164,091 | $3,776 | 3.40% |
| Poplar Bluff, MO (FHA|USDA|VA) | 12 | $1,690,000 | $140,833 | $4,139 | 3.30% |
| Mayfield, KY (FHA|USDA|VA) | 13 | $1,665,000 | $128,077 | $4,019 | 3.22% |
| FORT COLLINS, CO (FHA|USDA|VA) | 4 | $1,490,000 | $372,500 | $2,147 | 2.75% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 8 | $1,380,000 | $172,500 | $2,303 | 2.63% |
| Rolla, MO (FHA|USDA|VA) | 8 | $1,300,000 | $162,500 | $2,596 | 3.55% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 5 | $1,265,000 | $253,000 | $2,875 | 2.95% |
| Paducah, KY-IL (FHA|USDA|VA) | 10 | $1,210,000 | $121,000 | $4,579 | 2.99% |
| Murray, KY (FHA|USDA|VA) | 8 | $1,190,000 | $148,750 | $3,494 | 2.83% |
| Quincy, IL-MO (FHA|USDA|VA) | 9 | $1,165,000 | $129,444 | $3,796 | 3.06% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 3 | $1,145,000 | $381,667 | $5,173 | 3.08% |
| Breckenridge, CO (FHA|USDA|VA) | 3 | $1,105,000 | $368,333 | $3,205 | 3.67% |
| Lebanon, MO (FHA|USDA|VA) | 5 | $1,095,000 | $219,000 | $3,000 | 2.85% |
| RACINE, WI (FHA|USDA|VA) | 6 | $1,080,000 | $180,000 | $3,693 | 3.13% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 4 | $1,060,000 | $265,000 | $4,113 | 3.19% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 5 | $1,025,000 | $205,000 | $4,414 | 3.65% |
| BOULDER, CO (FHA|USDA|VA) | 3 | $1,015,000 | $338,333 | $2,762 | 2.96% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $960,000 | $480,000 | $6,610 | 3.50% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $855,000 | $285,000 | $6,266 | 3.00% |
| Fremont, NE (FHA|USDA|VA) | 6 | $850,000 | $141,667 | $2,941 | 3.13% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 3 | $845,000 | $281,667 | $3,029 | 3.00% |
| ST. JOSEPH, MO-KS (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $4,682 | 3.54% |
| IOWA CITY, IA (FHA|USDA|VA) | 4 | $770,000 | $192,500 | $3,212 | 2.97% |
| Mount Vernon, IL (FHA|USDA|VA) | 6 | $760,000 | $126,667 | $2,620 | 3.08% |
| WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) | 4 | $720,000 | $180,000 | $3,302 | 2.91% |
| Spirit Lake, IA (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $2,640 | 2.81% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $4,723 | 2.92% |
| JOPLIN, MO (FHA|USDA|VA) | 6 | $630,000 | $105,000 | $3,284 | 3.48% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $4,181 | 2.94% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 3 | $615,000 | $205,000 | $6,203 | 3.08% |
| Durango, CO (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $2,348 | 2.88% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $3,848 | 2.88% |
| Kearney, NE (FHA|USDA|VA) | 4 | $530,000 | $132,500 | $4,275 | 3.88% |
| Steamboat Springs, CO (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $2,845 | 2.81% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $4,768 | 2.75% |
| GREELEY, CO (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $902 | 3.13% |
| Charleston-Mattoon, IL (FHA|USDA|VA) | 5 | $485,000 | $97,000 | $3,027 | 3.58% |
| Clinton, IA (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $4,827 | 2.44% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $2,714 | 3.38% |
| LAWRENCE, KS (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $2,170 | 2.96% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $5,272 | 3.75% |
| Wauchula, FL (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $14,119 | 2.75% |
| Oskaloosa, IA (FHA|USDA|VA) | 4 | $420,000 | $105,000 | $3,348 | 3.78% |
| WICHITA, KS (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $2,828 | 2.94% |
| Sikeston, MO (FHA|USDA|VA) | 4 | $400,000 | $100,000 | $2,844 | 3.56% |
| Montrose, CO (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $2,029 | 2.75% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $3,470 | 3.50% |
| Harrison, AR (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $3,126 | 2.69% |
| ROCKFORD, IL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $2,857 | 3.75% |
| Galesburg, IL (FHA|USDA|VA) | 4 | $330,000 | $82,500 | $3,365 | 3.13% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $6,595 | 3.69% |
| Kirksville, MO (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $7,334 | 3.13% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,442 | 3.13% |
| DUBUQUE, IA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,344 | 3.38% |
| WACO, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,227 | 4.38% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,054 | 3.13% |
| Russellville, AR (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,100 | 2.75% |
| Centralia, IL (FHA|USDA|VA) | 3 | $265,000 | $88,333 | $2,164 | 3.08% |
| Columbus, NE (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,206 | 3.25% |
| Ottawa, IL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,446 | 2.38% |
| OWENSBORO, KY (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,956 | 3.25% |
| Glenwood Springs, CO (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $1,791 | 2.88% |
| North Platte, NE (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,011 | 3.00% |
| Fort Dodge, IA (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $5,047 | 2.63% |
| GRAND ISLAND, NE (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,624 | 3.50% |
| Mexico, MO (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $3,944 | 3.63% |
| Hannibal, MO (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $1,797 | 2.50% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,094 | 2.63% |
| Fort Morgan, CO (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $1,986 | 2.88% |
| Marshall, MO (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,324 | 3.38% |
| OCALA, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,677 | 2.75% |
| KANKAKEE, IL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,668 | 3.63% |
| Moberly, MO (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $1,744 | 2.75% |
| Warrensburg, MO (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,220 | 3.75% |
| Salina, KS (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $7,324 | 3.25% |
| Jacksonville, IL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,324 | 3.25% |
| Storm Lake, IA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $1,768 | 2.63% |
| Effingham, IL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,043 | 2.50% |
| Fort Leonard Wood, MO (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $545 | 2.75% |
| Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,024 | 3.25% |
| DANVILLE, IL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,155 | 2.63% |
| Burlington, IA-IL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,349 | 3.13% |
| Muscatine, IA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,883 | 2.75% |
| Coffeyville, KS (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $3,179 | 3.75% |
| Ottumwa, IA (FHA|USDA|VA) | 2 | $60,000 | $30,000 | $1,588 | 1.81% |
| Central City, KY (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,344 | 2.75% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,901 | 2.25% |
| Hutchinson, KS (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,838 | 3.75% |
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Product Mix
For 2020, Gershman Investment Corp.'s most frequently originated type of loan was Conventional, with 5,419 originations. Their 2nd most popular type was FHA, with 1,843 originations.
Loan Reason
For 2020, Gershman Investment Corp.'s most frequently cited loan purpose was Home Purchase, with 5,194 originations. The 2nd most popular reason was Refi, with 2,735 originations.
Loan Duration/Length
For 2020, Gershman Investment Corp.'s most frequently cited loan duration was 30 Year, with 7,618 originations. The 2nd most popular length was 15 Year, with 597 originations.
Origination Fees/Closing Costs
Gershman Investment Corp.'s average total fees were $3,804, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 5,469 originations.
Interest Rates
During 2020, Gershman Investment Corp.'s average interest rate for loans was 3.23%, while their most frequently originated rate bucket for loans was 3-4%, with 4,118 originations.
Loan Sizing
2020 saw Gershman Investment Corp. place emphasis on $100k-200k loans with 3,851 originations, totaling $585,465,000 in origination value.
Applicant Income
Gershman Investment Corp. lent most frequently to those with incomes in the $50k or less range, with 2,419 originations. The second most popular income band? $50k-75k, with 2,320 originations.
Applicant Debt to Income Ratio
Gershman Investment Corp. lent most frequently to those with DTI ratios of 20-30%, with 1,839 originations. The next most common DTI ratio? 30-36%, with 1,614 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.92%
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 origination75.94%
Gershman Investment Corp. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 8,663 | $1,790,835,000 | $206,722 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 66 | $7,850,000 | $118,939 |
| Single Family (1-4 Units):Site-Built | 8,597 | $1,782,985,000 | $207,396 |