“Gershman Investment Corp. originated an $8.7 MM HUD 223(a)(7) loan for Telegraph Crossing Apartments, a 200-unit apartment community located in St. Louis, MO. Built in 1970, Telegraph Crossing features a swimming pool and mature landscaping. It has bee very well-maintained by the property owners. In 2015, Chris Will originated the original 223(f) HUD loan for this property, and with this 223(a)(7) refinance assisted the borrower in dropping the interest rate and reducing its rate of Mortgage Insurance Premium (“MIP”) from 0.60% to 0.25%.”
Chris Will detailed, “Due to the owner’s ongoing capital improvements strategy funded in part with the original 223(f) loan, this 50 year old property obtained an Energy Star Certification and reduced its Mortgage Insurance Premium rate to 0.25%. We were also able to drop the interest rate and reduce the debt service payments, all of which generated significant cash-flow to the owner’s bottom-line.”
CONTACT US
For more information about our FHA Multifamily financing services, please email Chris at Cwill@gershman.com or call:
Chris Will Vice President – Commercial Loan Officer
Multifamily & Senior Housing
314-854-9513
PROPERTY NAME: Wrigleyville North Apartments
PROPERTY ADDRESS: 949 W. Dakin Street, Chicago, IL 60613
LOAN AMOUNT: $34.9 Million
LOAN CODE/SECTION: FHA Section 221 (d)(4)
UNITS: 120 + 13,000 square feet of commercial space and various retail establishments
Chicago Office Loan Closing
This project is on track to achieve a National Green Building Standard Certification. A NGBS certification demonstrates high-performance building in six areas: Lot Design and Development, Resource Efficiency, Water Efficiency, Energy Efficiency, Indoor Environmental Quality, and Building Operation & Maintenance
“We are proud to be a part of this exciting transit-oriented development just 2 and a half blocks from Wrigley Field. Chicago Based Developer, Draper and Kramer, Inc. is one of the oldest real estate firms in the country and their vision for this multifamily project will transform this neighborhood,” said Bruce Sandweiss, President, Multifamily and Healthcare Division.
Amenities Include:
Covered garage parking
Rooftop deck
A club room, storage lockers, bike storage, and a dog wash station
Units will have solid wood cabinets and granite countertops
The project is adjacent to the Sheridan Red Line El Station
St. Louis – September 18, 2020 – Gershman Mortgage, a leader in the mortgage industry, welcomes two new loan officers in Missouri. The new loan officers include Stefan Cox (NMLS # 2008234) as a loan officer for the Lee’s Summit branch and Chase Carmichael (NMLS #1990027) as a loan officer for the Cape Girardeau branch.
“I understand that buying a home is likely the biggest purchase my clients will ever make. That’s why I take pride in helping them find the best financing available and keeping them informed every step of the loan process. I want customers to be educated and confident with the product they are getting so that they can focus on the excitement of owning a home,” says Cox.
Chase is a new, knowledgeable Loan Officer who is dedicated to providing excellent customer service, by walking you through every step of the mortgage process and supplying you with the product that best fits your needs.
Carmichael is licensed in Illinois and Missouri and Cox is licensed in Missouri.
Both professionals are now accepting borrower applications at their respective branches.
NMLS #138063 16253 Swingley Ridge Road Suite 400 Chesterfield, MO 63017 (800) 457-2357 Equal Housing Lender.
Lincoln, Nebraska – August 19th, 2020 – Gershman Mortgage, a leader in the mortgage industry, welcomes Jennie Sovey (NMLS #1698492) as a Loan Officer to the Lincoln, Nebraska branch.
“My goal is to offer the best mortgage process and tools available- easy and convenient, online information available, coupled with the assistance of an experienced loan officer to guide you through the often difficult and confusing process,” says Sovey. “Let me walk you through the process and help you choose the exact loan to meet your specific needs!”
Sovey, an expert in the home loan process, is licensed in Nebraska, and specializes in Conventional, VA, FHA, Jumbo, Medical loans and more.
Sovey is now accepting borrower applications at our Lincoln, Nebraska branch.
Gershman Mortgage has launched an innovative new process for closing loans, hybrid loan closings- thus reducing time at the closing table. This new hybrid platform allows borrowers to review and sign documents digitally from the comfort of home. Now, you can review and sign documents from your computer, smartphone, or any device that has an internet browser. Taking advantage of today’s available technology enhances Gershman’s reputation for on-time closings utilizing new tools to expedite the process and get you into your home faster and with greater convenience.
While some lenders remain paper-based, Gershman has invested in innovative technology to keep up to date with the ever-changing, fast-paced environment. In addition, Gershman Mortgage has responded to the Coronavirus pandemic with respect to social distancing to make the loan process safer and easier for their borrowers. With the new hybrid platform up and running, most documents can be reviewed and signed prior to your final loan closing. The closing can be handled in less than 10 minutes with a couple of final signatures.
Unlike traditional mortgage closings, the hybrid process provides the borrower the convenience to sign most documents digitally. Having that extra time to review paperwork from home allows borrowers to read through and fully understand their documents at their own pace and convenience. The borrower has ample time to gather questions and avoid feeling rushed and pressured at closing. You can feel confident signing documents through our secure, encrypted system. A select few documents are signed in ink at the final closing. This rapid new process has brought closing times down drastically. While not eliminating face-to-face meetings completely, the hybrid process streamlines closings and expedites the process.
Benefits of hybrid closings
Accessibility – review documents from our portal as soon as the closing package is ready from your computer, smartphone, or any device that has an internet browser prior to closing
Save time – average time at the closing table is only 10 minutes
Accuracy – errors are caught immediately and flagged if there are missing signatures or compliance issues
Less stress – minimize in-person interactions during these unprecedented times
Eco-friendly – save trees by eliminating paper from the e-sign process.
Digital files are easy to store and access.
Sharon Oris, Vice President of Gershman Mortgage had this to say about the new E-Closing process:
“I’m excited to say our borrowers have been overwhelmingly satisfied with the hybrid loan closing experience. Local title companies have also been impressed because the average closing time has been reduced to 10 minutes.”
Gershman Mortgage has been at the forefront of the mortgage industry since 1955, with over 215,000 borrowers served. Gershman Mortgage is humbled to announce that 2020 marks its 65th anniversary. With over 275 mortgage professionals and more than 30 locations, the company will continue to approach the industry with ingenuity, drive, and commitment.
St. Louis – July 23, 2020 – Gershman Mortgage, a leader in the mortgage industry, celebrates 65 years in business with a message from President Adam Mason.
To Our Valued Customers:
Gershman Mortgage is humbled to announce that 2020 marks our 65th anniversary. In 1955, Gershman Mortgage was founded by Mr. Solon Gershman in Clayton, Missouri, and over the years we have grown into a company of 275 mortgage professionals located in 30 locations across eight states. We can celebrate this milestone because of our exceptional employees, customers, and partners.
The investment in a home is parallel to no other financial transaction, which is why we have never settled for anything less than excellence. We are a customer-centric company devoted to creating and maintaining long-lasting relationships with you, our valued customers, and we are fortunate to have served generations of borrowers.
Gershman Mortgage will continue to stand firm in our commitment to you by always making customer satisfaction the top priority. We are a stabilizing force in a complex and often chaotic industry.
Thank you for your trust and support throughout the years and for making this anniversary possible. Our future is very bright and we look forward to serving you for many, many years to come.
Sincerely,
Adam J. Mason
PROPERTY NAME: St. Elmo Apartments
PROPERTY ADDRESS: 4323 South Congress Ave. Austin, TX 78745
LOAN AMOUNT: $74.5 Million
LOAN CODE/SECTION: FHA Section 221 (d)(4)
UNITS: 387
Denver Office Closing – New Construction in Austin, TX.
Originator: Scott Graber
“We so pleased to be a part of this transformative project. It’s one of the largest multifamily projects insured by the FHA in the Southwest region. It’s literally changing the landscape of the South Congress sub-market of Austin, TX by providing Class A rental housing injunction with a 40,000 sq. ft. market place which acts a HUB for the community and an incubation center for local artisans bringing their talents, goods, and services to the public under one roof,” said Scott.
The St. Elmo District is off South Congress located just 10 minutes from the airport and 9 minutes from Downtown. The hip new community offers places to shop, meet and eat all in the same neighborhood. The apartments have a modern design with trending architectural features.
Community Amenities Include:
Fitness Center
Pool
Dog Park
Office Space
Hotel Site
Public Market to Feature: bakery, coffee bars, brew pubs, cafes, produce stores, butchers and florists to provide a true town square feel
CONTACT US
For more information about our FHA Multifamily financing services, please email Scott at Sgraber@gershman.com or call:
Scott Graber Vice President
Multifamily & Senior Housing
206-276-4402
St. Louis – July 17, 2020 – Gershman Mortgage, a leader in the mortgage industry, welcomes Ronda Pearson (NMLS #237762) as a Senior Loan Officer to the Chesterfield, Missouri branch.
“With 15+ years in the mortgage industry, I have developed the skills necessary to help my clients have the best loan experience.” Pearson said. “Whether you are a first time homebuyer or a seasoned homeowner looking for the best loan scenario, It’s my goal to give you the most up to date information and the best results possible. When choosing your mortgage loan originator, there are many qualities that makes one stand out among all others. First and foremost, I am a dependable, reliable, and a loyal person who ALWAYS puts my clients first. I pride myself on my ability to stay focused and keep the lines of communication open at all times. Being well organized and meticulous are characteristics of my personal and professional life. My vibrant personality, paired with my years of experience, make me your ideal loan originator.”
“At Gershman Mortgage, we are committed to creating and maintaining long-lasting relationships. My goal is to live up to every standard and expectation set up by my company and my clients. When you are in need of a reliable senior loan originator, contact me directly at 314-640-LOAN or by email at rpearson@gershman.com.”
Pearson, who brings over 15 years of mortgage industry experience, is an expert in the home loan process. Pearson is licensed in Missouri, and specializes in Conventional, VA, FHA, Jumbo, Medical loans and more.
Pearson is now accepting borrower applications at our Chesterfield, Missouri branch.
St. Louis, Des Moines – June 25, 2020 – Gershman Mortgage, a leader in the mortgage industry, welcomes three new loan officers. The new loan officers include Jared Hartmann (NMLS # 1988077) as a Loan Officer at the Chesterfield, Missouri Headquarters office, Nick Young (NMLS #1984854) as a Loan Officer at the Des Moines, Iowa branch, and Sarah Morton (NMLS #1962214) as a Loan Officer/Loan Coordinator at the Des Moines, Iowa branch.
Hartmann, Young, and Morton share their goals: “[…] to offer the best mortgage process and tools available- easy and convenient, online information available, coupled with the assistance of an experienced loan officer to guide you through the often difficult and confusing process. Let me walk you through the process and help you choose the exact loan to meet your specific needs!”
Jared Hartmann is licensed in Missouri, and Nick Young and Sarah Morton are licensed in Iowa. They specialize in Conventional, VA, FHA, Jumbo, Medical loans and more.
All three professionals are now accepting borrower applications at their respective branches.
Gershman Mortgage is among the largest mortgage companies in the Midwest, licensed in 13 states, with offices in 8. Founded in 1955, Gershman Mortgage is growing to be one of the only independently owned and operated mortgage companies nationwide offering residential, multifamily apartment and healthcare facility financing. Our growth and profitability are directly attributable to our amazing employees and management.
Communities, families, and homes are at the heart of what we do at Gershman Mortgage. Our founding principles are based on the core values of honesty, integrity, the entrepreneurial spirit, and putting our customers first. We are passionate and committed to customer service and strive to ensure that we exceed the expectations of our customers. We are a customer-centric company devoted to creating and maintaining long-lasting relationships.
NMLS #138063 16253 Swingley Ridge Road Suite 400 Chesterfield, MO 63017 (800) 457-2357 Equal Housing Lender.
Lee’s Summit, Missouri – June 12, 2020 – Gershman Mortgage, a leader in the mortgage industry, has opened a new branch in Lee’s Summit, Missouri. The newest branch will be located at 471 SW Ward Rd Suite 9, Lee’s Summit, MO 64081.
The Lee’s Summit location is a full-service home loan provider that offers a variety of purchase and refinance products, including VA, FHA, USDA, Jumbo loans and more.
JeffPaul (NMLS #1874221), branch manager and loan officer, is available at the Lee’s Summit branch. Paul is licensed in the state of Missouri and Kansas.
The Lee’s Summit branch is the 16th branch to open in Missouri.
For more information about Gershman Mortgage’s loan products or the Lee’s Summit office, contact Jeff Paul at jpaul@gershman.com.
Gershman Mortgage is among the largest mortgage companies in the Midwest, licensed in 13 states, with offices in 8. Founded in 1955, Gershman Mortgage is growing to be one of the only independently owned and operated mortgage companies nationwide offering residential, multifamily apartment and healthcare facility financing. Our growth and profitability are directly attributable to our amazing employees and management.
Communities, families, and homes are at the heart of what we do at Gershman Mortgage. Our founding principles are based on the core values of honesty, integrity, the entrepreneurial spirit, and putting our customers first. We are passionate and committed to customer service and strive to ensure that we exceed the expectations of our customers. We are a customer-centric company devoted to creating and maintaining long-lasting relationships.
NMLS #138063 16253 Swingley Ridge Road Suite 400 Chesterfield, MO 63017 (800) 457-2357 Equal Housing Lender.
