Gateway Mortgage Corporation Rates, Fees & Info

KENOSHA, WI

LEI: 549300XFW2CXGSLDJ958

Tax ID: 39-1447979

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Gateway 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 Oshkosh among others. We have data for 12 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 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.71% 4/21/24
    30 Year Conventional Refi 6.31% 4/21/24
    30 Year Cash-out Refi 6.34% 4/21/24
    30 Year FHA Purchase 7.28% 4/21/24
    30 Year FHA Refi 5.60% 4/21/24
    30 Year VA Purchase 6.17% 4/21/24
    15 Year Conventional Purchase 5.97% 4/21/24
    15 Year Conventional Refi 5.38% 4/21/24
    15 Year Cash-out Refi 5.38% 4/21/24
    15 Year FHA Purchase 5.68% 4/21/24
    15 Year FHA Refi 6.72% 4/21/24
    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.

    Gateway Mortgage Corporation Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Gateway Mortgage Corporation. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    737

    Origination Dollar Volume (All Markets)

    $151,635,000
    Show all (5) awards

    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
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 527 $106,405,000 $201,907 $3,204 3.99%
    RACINE, WI (FHA|USDA|VA) 146 $29,450,000 $201,712 $3,539 4.01%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 26 $6,810,000 $261,923 $2,978 4.01%
    Outside of Metro Areas 17 $4,415,000 $259,706 $3,180 4.49%
    Whitewater, WI (FHA|USDA|VA) 12 $2,700,000 $225,000 $3,409 4.28%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 2 $560,000 $280,000 $2,778 3.69%
    Manitowoc, WI (FHA|USDA|VA) 2 $320,000 $160,000 $4,489 4.38%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $275,000 $275,000 $6,997 4.00%
    GREEN BAY, WI (FHA|USDA|VA) 1 $215,000 $215,000 $2,498 3.75%
    FOND DU LAC, WI (FHA|USDA|VA) 1 $205,000 $205,000 $5,342 4.00%
    Beaver Dam, WI (FHA|USDA|VA) 1 $145,000 $145,000 $1,144 3.25%
    EAU CLAIRE, WI (FHA|USDA|VA) 1 $135,000 $135,000 $2,662 3.75%
    Gateway Mortgage Corporation's top markets include Chicago, Racine, Milwaukee, Whitewater, and Oshkosh among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • (FHA|USDA|VA)

    • Similar Lenders

    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.

    AppleTree Credit Union
    Similarity Rank: 8
    Liberty Bank for Savings
    Similarity Rank: 85
    NORTHWESTERN MUTUAL
    Similarity Rank: 117
    Empower Credit Union
    Similarity Rank: 144
    Fox River State Bank
    Similarity Rank: 306
    Kohler Credit Union
    Similarity Rank: 418
    Westbury Bank
    Similarity Rank: 437
    The First National Bank and Trust Company
    Similarity Rank: 462
    The Greenwood's State Bank
    Similarity Rank: 490
    UNITED
    Similarity Rank: 498

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 610 $124,960,000 $204,852 $2,827 4.03%
    FHA 91 $17,195,000 $188,956 $5,448 4.04%
    VA 36 $9,480,000 $263,333 $5,110 3.72%

    For 2019, Gateway Mortgage Corporation's most frequently originated type of loan was Conventional, with 610 originations. Their 2nd most popular type was FHA, with 91 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 470 $96,310,000 $204,915 $3,585 4.12%
    Refi 157 $33,175,000 $211,306 $2,390 3.71%
    Cash Out Refi 100 $18,880,000 $188,800 $3,181 3.93%
    Home Improvement 6 $1,600,000 $266,667 $0 4.63%
    Other 4 $1,670,000 $417,500 $0 4.63%

    For 2019, Gateway Mortgage Corporation's most frequently cited loan purpose was Home Purchase, with 470 originations. The 2nd most popular reason was Refi, with 157 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 577 $117,725,000 $204,029 $3,515 4.06%
    15 Year 86 $14,630,000 $170,116 $2,021 3.46%
    1 Year 39 $12,295,000 $315,256 $2,699 4.68%
    20 Year 28 $5,930,000 $211,786 $2,922 3.92%
    10 Year 6 $810,000 $135,000 $1,809 3.40%
    Other 1 $245,000 $245,000 $2,813 3.63%

    For 2019, Gateway Mortgage Corporation's most frequently cited loan duration was 30 Year, with 577 originations. The 2nd most popular length was 15 Year, with 86 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 345 $63,655,000 $184,507
    $1k-2k 229 $49,375,000 $215,611
    $2k-3k 95 $21,355,000 $224,789
    $3k-4k 41 $9,355,000 $228,171
    $4k-5k 14 $3,380,000 $241,429
    $5k+ 13 $4,515,000 $347,308

    Gateway Mortgage Corporation's average total fees were $3,515, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 345 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 450 $92,790,000 $206,200
    4-5% 271 $56,105,000 $207,030
    5-6% 9 $1,145,000 $127,222
    2.5-3% 7 $1,595,000 $227,857

    During 2019, Gateway Mortgage Corporation's average interest rate for loans was 4.06%, while their most frequently originated rate bucket for loans was 3-4%, with 450 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 341 $51,075,000 $149,780 $2,964 3.99%
    $200k-400k 276 $75,970,000 $275,254 $3,924 3.98%
    $100,000 or less 78 $5,650,000 $72,436 $2,215 4.18%
    $400k-600k 41 $18,305,000 $446,463 $3,564 4.08%
    $600k-1MM 1 $635,000 $635,000 $1,788 4.75%

    2019 saw Gateway Mortgage Corporation place emphasis on $100k-200k loans with 341 originations, totaling $51,075,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 160 $38,790,000 $242,438 $3,789 4.04%
    $50k-75k 152 $25,890,000 $170,329 $3,204 4.12%
    $75k-100k 127 $24,935,000 $196,339 $3,513 4.01%
    $50k or less 113 $15,115,000 $133,761 $2,841 4.01%
    $150k-250k 94 $28,330,000 $301,383 $3,250 4.04%
    $250k+ 20 $4,430,000 $221,500 $2,685 4.06%

    Gateway Mortgage Corporation lent most frequently to those with incomes in the $100k-150k range, with 160 originations. The second most popular income band? $50k-75k, with 152 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 131 $27,435,000 $209,427 $2,916 4.00%
    30-36% 119 $25,565,000 $214,832 $3,289 4.05%
    <20% 37 $6,105,000 $165,000 $2,281 3.88%
    44% 26 $5,260,000 $202,308 $2,800 4.26%
    50-60% 25 $6,415,000 $256,600 $5,688 4.19%
    38% 24 $4,530,000 $188,750 $2,630 4.06%
    41% 24 $4,770,000 $198,750 $3,710 4.17%
    42% 22 $4,880,000 $221,818 $3,573 4.31%
    40% 21 $4,435,000 $211,190 $4,058 4.07%
    48% 19 $3,915,000 $206,053 $3,223 4.32%
    49% 16 $2,730,000 $170,625 $3,402 4.28%
    36% 15 $2,655,000 $177,000 $2,797 4.18%
    37% 15 $3,145,000 $209,667 $4,153 3.91%
    45% 14 $2,630,000 $187,857 $3,715 4.17%
    43% 14 $3,190,000 $227,857 $3,479 4.14%
    39% 13 $2,705,000 $208,077 $2,999 3.98%
    47% 10 $1,860,000 $186,000 $3,786 4.00%
    46% 9 $1,855,000 $206,111 $2,463 4.08%
    >60% 5 $1,815,000 $363,000 $5,253 4.33%

    Gateway Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 131 originations. The next most common DTI ratio? 30-36%, with 119 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 692 $143,490,000 $207,355 $3,224 4.01%
    Not provided 19 $3,895,000 $205,000 $4,505 4.05%
    Asian 10 $2,120,000 $212,000 $4,660 4.11%
    Black 13 $1,635,000 $125,769 $2,673 3.92%
    Native Hawaiian or Islander 2 $390,000 $195,000 $4,820 3.75%
    Asian Indian 1 $105,000 $105,000 $1,976 3.88%

    Approval Rates

    Total approvals of all applications
    97.89%

    Gateway Mortgage Corporation 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
    86.16%

    Gateway Mortgage Corporation has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 737 $151,635,000 $205,746

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 737 $151,635,000 $205,746

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 15 $1,855,000 $123,667 $1,600 3.90%
    40-60% 42 $7,260,000 $172,857 $1,865 3.93%
    60-80% 185 $37,465,000 $202,514 $2,807 4.04%
    80-100% 309 $67,565,000 $218,657 $3,715 4.13%
    Over 100% 7 $2,225,000 $317,857 $10,118 4.11%
    Under 20% 4 $350,000 $87,500 $1,371 3.94%