Gateway Mortgage Corporation Rates, Fees & InfoKENOSHA, WI
Tax ID: 39-1447979
Review & OverviewGateway Mortgage Corporation is a smaller mortgage company specializing in Home Purchase and Refi loans. Gateway Mortgage Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Chicago, Racine, Milwaukee, Whitewater, and Appleton among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)
Gateway Mortgage Corporation 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. Gateway Mortgage Corporation 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.62%||10/3/22|
|30 Year Conventional Refi||6.52%||10/3/22|
|30 Year Cash-out Refi||6.58%||10/3/22|
|30 Year FHA Purchase||7.20%||10/3/22|
|30 Year FHA Refi||7.11%||10/3/22|
|30 Year VA Purchase||6.38%||10/3/22|
|30 Year VA Refi||6.05%||10/3/22|
|15 Year Conventional Purchase||6.11%||10/3/22|
|15 Year Conventional Refi||6.11%||10/3/22|
|15 Year Cash-out Refi||6.11%||10/3/22|
|15 Year VA Refi||6.17%||10/3/22|
|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.|
Origination Dollar Volume (All Markets)$240,475,000
Gateway Mortgage Corporation's average 30 year fixed mortgage rate was
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.11%.
Relative Fees (Closing Costs)
Gateway Mortgage Corporation's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,192.
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 $4,750.
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|
|Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA)||822||$163,280,000||$198,637||$2,767||2.86%|
|RACINE, WI (FHA|USDA|VA)||212||$42,760,000||$201,698||$2,755||2.89%|
|MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA)||52||$14,150,000||$272,115||$2,593||2.82%|
|Outside of Metro Areas||40||$8,420,000||$210,500||$2,622||3.02%|
|Whitewater, WI (FHA|USDA|VA)||30||$7,700,000||$256,667||$2,967||2.91%|
|APPLETON, WI (FHA|USDA|VA)||4||$1,310,000||$327,500||$3,356||2.59%|
|MADISON, WI (FHA|USDA|VA)||4||$1,300,000||$325,000||$2,519||2.75%|
|Marinette, WI-MI (FHA|USDA|VA)||3||$445,000||$148,333||$2,018||3.00%|
|WAUSAU-WESTON, WI (FHA|USDA|VA)||1||$215,000||$215,000||$4,136||3.00%|
|Charleston-Mattoon, IL (FHA|USDA|VA)||1||$205,000||$205,000||$4,960||3.13%|
|Manitowoc, WI (FHA|USDA|VA)||1||$205,000||$205,000||$2,031||3.00%|
|OSHKOSH-NEENAH, WI (FHA|USDA|VA)||1||$185,000||$185,000||$200||2.13%|
|Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA)||1||$165,000||$165,000||$2,008||3.00%|
|JANESVILLE-BELOIT, WI (FHA|USDA|VA)||1||$135,000||$135,000||$2,674||4.13%|
Gateway Mortgage Corporation's top markets include Chicago, Racine, Milwaukee, Whitewater, and Appleton among others.
We use machine learning to identify the top lenders compared against GATEWAY MORTGAGE CORPORATION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2021, Gateway Mortgage Corporation's most frequently originated type of loan was Conventional, with 1,050 originations. Their 2nd most popular type was FHA, with 83 originations.
For 2021, Gateway Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 478 originations. The 2nd most popular reason was Refi, with 456 originations.
For 2021, Gateway Mortgage Corporation's most frequently cited loan duration was 30 Year, with 743 originations. The 2nd most popular length was 15 Year, with 259 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Gateway Mortgage Corporation's average total fees were $3,192, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 556 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2021, Gateway Mortgage Corporation's average interest rate for loans was 3.04%, while their most frequently originated rate bucket for loans was 2.5-3%, with 525 originations.
2021 saw Gateway Mortgage Corporation place emphasis on $100k-200k loans with 523 originations, totaling $77,415,000 in origination value.
Gateway Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 283 originations. The second most popular income band? $100k-150k, with 277 originations.
Applicant Debt to Income Ratio
Gateway Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 302 originations. The next most common DTI ratio? 30-36%, with 220 originations.
Approval RatesTotal approvals of all applications
Gateway Mortgage Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
Gateway Mortgage Corporation has an average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|
|Bank Name||Product||Issue||2021 CPFB Complaints||% of Total Issues|
|Gotmortgage.com||Conventional home mortgage||Closing on a mortgage||1||50.0%|
|Gotmortgage.com||VA mortgage||Applying for a mortgage or refinancing an existing mortgage||1||50.0%|