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GERSHMAN MORTGAGE
n Founded in 1953, Gershman is the oldest independent mortgagecompany in St. Louis.
n Gershman is one of the largestindependent mortgage bankingcompanies in Missouri.
n Gershman has originated over $30 billion in home loans andfinanced over 275,000 homemortgages.
n Gershman is ranked among the top 10 originators for FHAmultifamily programs by the U.S. Department of Housing and Urban Development.
n Gershman was named one of thenation’s “Top Commercial Servicers”by Mortgage Servicing News andNational Mortgage News.
n Gershman services $1.5 billion formultifamily and healthcare facilities.
n Gershman is an approved Ginnie Mae mega-servicer.
n Gershman is one of the onlyindependent mortgage companiesnationwide offering both commercial and residential services.
1-800-GERSHMAN | www.gershman.com | [email protected]
Security. Experience. Unmatched Service.
GERSHMAN MORTGAGE
One of the nation’s leading mortgage
bankers, Gershman Mortgage offers
nearly 60 years of experience, security,
and unmatched customer service in
residential and commercial financing.
A privately owned company, Gershman was founded
in 1953 by Solon Gershman. Gershman has
maintained a reputation in the mortgage industry
that few lenders can equal.
Gershman is a strongly capitalized, independent
mortgage banking company run by a staff of senior
officials, each capable of directly carrying out a
variety of responsibilities. Gershman’s growth and
profitability are directly attributable to the team’s
“hands-on” approach to management and direct
involvement in the day-to-day running of the company.
Gershman’s veteran staff of more than ninety
professionals is knowledgeable in all aspects of
origination, underwriting and closing of mortgage
loans both in residential and commercial real estate.
Gershman is headquartered in St. Louis, and has
branch offices in Missouri, Illinois and Iowa.
Gershman provides financing for commercial loan
projects nationwide.
A Leader inCommercial
and ResidentialFinancing
For Close to 60 Years
Park Pacific
COMPANY OVERVIEW
Named one of the nation’s “Top Commercial
Servicers” by Mortgage Servicing News and a
Ginnie Mae mega-servicer, Gershman services
$1.5 billion in loans for multi-family apartments
and nursing home facilities. The company is
active in providing financing for multi-family projects nationwide.
Gershman specializes in financing for multifamily facilities,
skilled nursing homes, assisted living facilities, and hospitals.
Gershman provides and services all types of financing for new
construction, substantial rehabilitation, and refinancing.
Gershman Mortgage was one of the first lenders in the country
to be MAP (Multifamily Accelerated Processing) approved, giving
the company extensive experience and an unique understanding
of the HUD process. Gershman is one of a small, select group of
lenders also approved for the LEAN processing program. Gershman
can process and underwrite loans under MAP for apartments, and
LEAN for nursing homes and assisted living facilities.
“ At Balke Brown, our most valued asset
is our culture and reputation. We value
working with Gershman Mortgage,
a company with the same standard of
professionalism and integrity.”Steve Brown CEO
Balke Brown Associates
Lofts at the Highlands
Paul Brown Lofts
COMMERCIAL FINANCING
NURSING HOMES AND ASSISTED LIVING FACILITIES
NEW CONSTRUCTION AND SUBSTANTIAL REHABILITATION
Gershman Mortgage offers loans for the new
construction and substantial rehabilitation of
nursing homes, intermediate care facilities, board
and care homes, and assisted living facilities.
Projects are eligible for Section 232 HUD-secured
financing under LEAN Processing. Loans are available for both
for-profit and not-for-profit projects.
Features of these loans include:
• Up to 80% loan to value for Skilled (85% if for non-profit)
• Up to 75% loan to value for Assisted (80% if for non-profit)
• 40-year Amortization plus construction or
rehabilitation time
• Non-recourse loan
• Includes construction loan
• Tax-exempt or taxable loans
ACQUISITION AND REFINANCING
To refinance existing nursing homes, intermediate care facilities,
board and care homes, and assisted-living facilities without major
repairs, Gershman offers loans insured through HUD which are
eligible for up to 35 years fixed rate financing. Refinancing is
available for both profit-motivated and not-for-profit projects.
Features of these loans include:
• HUD 232/223 (f) Approved Financing
• Up to 80% loan to value for profit (85% if for non-profit)
• 35-year Amortization
• Non-recourse loan
• Tax-exempt or taxable loans
HOSPITAL FINANCING
Gershman Mortgage offers loans for construction
financing, refinancing, modernization,
remodeling, equipment, and expansion through
the HUD/FHA Section 242 Program for hospitals.
As an FHA-Approved Lender, Gershman Mortgage
works with HUD and the Department of Health and Human
Services throughout the process to ensure a successful approval.
Features of these loans include:
Capital Financing• HUD 242 Mortgage Insurance for Hospitals
• New construction, replacement or renovation
(including major medical equipment and
certain transaction costs)
• 25-year Amortization
• Up to 75% loan to value for Assisted (80% if for non-profit)
• Non-recourse loan
1-800-GERSHMAN | www.gershman.com | [email protected]
“Government loans have been one
of our niches since the beginning
and remain an important part of
our core business.”Bruce SandweissExecutive Vice President
APARTMENTS
NEW CONSTRUCTION AND SUBSTANTIAL REHABILITATION
Gershman Mortgage offers loans for new
construction and substantial rehabilitation of
multifamily rental or cooperative housing for
market-rate, low- to moderate-income families,
and the elderly. Projects are eligible for HUD-
secured financing under MAP (Multifamily Accelerated Processing).
Loans are available for both for-profit and not-for-profit projects.
Features of these loans include:• Up to 83.3% loan to value
(Up to 90% for qualified Affordable)• 40-year Amortization• Non-recourse loan• Includes construction loan• Tax-exempt or taxable loans
ACQUISITION AND REFINANCING
Gershman Mortgage refinances existing multifamily rental housing.
Projects originally financed with conventional or FHA-insured
mortgages are eligible for up to 35 years fixed rate financing.
Refinancing is available for both for-profit and not-
for-profit projects.
Features of these loans include:• Up to 83.3% loan to value
(up to 90% for qualified Affordable)• 35-year Amortization• Non-recourse loan• Finance Needed Repairs• Tax-exempt or taxable loans• Equity Takeouts
Windscape Apartments
A MAP (MULTIFAMILY ACCELERATEDPROCESSING) AND LEAN PROCESSING LENDER
Gershman Mortgage was one of the first lenders in
the country to be approved for MAP (Multifamily
Accelerated Processing). Gershman is one of a
small, select group of lenders also approved for
the LEAN processing program. Gershman can
process and underwrite loans under MAP for
apartments, and LEAN for nursing homes and
assisted living facilities. And, because Gershman
has a long-standing working relationship with
HUD, you can be sure each detail will be handled
accurately, efficiently, and in your best interest.
GERSHMAN MORTGAGEPROVIDES FINANCINGCOAST TO COAST &BORDER TO BORDER
All FHA apartment andhealthcare loans areserviced by Gershman
Mortgage at Gershman’s headquarters.
GERSHMAN PRAISED
“ Your review… resulted in no audit findings.
This is an outstanding achievement…”Philip H. Buckley, CMBDirector for MBS Multifamily Division
Parc Provence
SELECT PROJECTS
Parkway LakesideApartment Homes
The Gatesworth at One McKnight Place
1-800-GERSHMAN | www.gershman.com | [email protected]
Gershman Mortgage’s loan programs are available
in all 50 states. The listing below is just a
sampling of some of the projects Gershman
Mortgage has financed:
Park Pacific $63,131,600
The Gatesworth at One McKnight Place $60,000,000
The Laurel $44,954,000
Parc Provence $38,020,600
Lofts at the Highlands $32,123,600
Waterways of Lake St. Louis $30,940,400
Paul Brown Lofts $28,900,800
Pointe 400 $26,236,100
Parkway Lakeside Apartment Homes $26,213,100
Villas at Crystal Lake $24,029,500
Windscape Apartments $20,036,400
Bee Creek Apartments $19,348,200
Soulard Market Apartments $18,424,200
Bridge at Garden Plaza $17,865,000
Council Tower Senior Apartments $15,862,000
Continental Life Building $11,893,300
Majestic Stove Lofts $10,440,000
1110 Washington Apartments/Vanguard Lofts $10,076,300 Soulard Market Apartments
1-800-GERSHMAN | www.gershman.com | [email protected]
The Laurel
Pointe 400
Majestic Stove Lofts
“We are proud to have brought more
than $300 million of new money to
fund projects for the revitalization
of the downtown St. Louis area.”Jack SheredanoSenior Vice President
GERSHMAN MORTGAGE:
Villas atCrystal Lake
Continental Life Building
Waterways of Lake St. Louis
INTEGRITY. SERVICE. PROFESSIONALISM.
1-800-GERSHMAN | www.gershman.com | [email protected]
“Gershman Mortgage is the expert on HUD financing.
I know with confidence that their knowledge and
experience will mean all the difference when it comes
to getting the results we need.” Steve LiermanCEO
Eldercare Management Services
Council Tower Senior Apartments
1110 Washington Apartments/Vanguard Lofts
For nearly 60 years, Gershman Mortgage has been
committed to helping St. Louisans own the home
of their dreams. Gershman is one of the area’s
leaders in conventional, jumbo, and FHA/VA
single-family home loans. Gershman has financed
over 275,000 home loans for St. Louis area families.
Gershman’s residential team includes more than ninety
professionals skilled in all aspects of loan origination,
underwriting and closings. These veterans guide clients through
every step of the home buying process. As a result, our clients
often become repeat borrowers when moving or refinancing,
returning for Gershman’s prompt, personalized service.
Gershman works with clients to help find the best mortgage to
suit their financial and homeownership goals. Knowing that
one mortgage doesn’t fit every homebuyer, Gershman Mortgage
offers a variety of loan programs from traditional fixed rate
and adjustable rate mortgages to jumbo loans, hybrid ARM
mortgages and second mortgages. Gershman’s no- and low-
down payment loans, interest only payments, and cash-out
mortgages offer borrowers increased flexibility. Gershman also
offers FHA and VA loans; special programs for first-time
buyers; and reverse mortgages for borrowers age 62 and older.
GERSHMAN MORTGAGE OFFERS:n EASY PRE-QUALIFICATIONn FAST APPROVALn VERY COMPETITIVE RATESn LONG LOCK-IN PERIODSn QUICK AND SIMPLE CLOSINGS
FINANCING OPTIONS
Gershman Mortgage offers a wide range of loan products to
allow buyers to find the loan that is best for them.
MORTGAGE OPTIONS
Fixed Rate MortgagesAdjustable Rate MortgagesHybrid Fixed/Adjustable Mortgages (3,5, 7,10 fixed)Reverse MortgagesJumbo Loans
Special ProgramsInterest OnlyNew Construction ProloanSecond Mortgages
Government LoansFHA loans (fixed rate and adjustable)VA loans (fixed rate and adjustable)MHDC loans for 1st Time Home BuyersUSDA Rural Housing Development loans
NEW CONSTRUCTION
Gershman understands the unique circumstances of
homebuyers purchasing new construction. The company
regularly partners with area builders to ensure financing
for buyers. Flexible financing options include long interest
rate lock-ins.
“Residential mortgages have been a
cornerstone of our business for many
years. Helping families realize the dream
of homeownership is truly rewarding.”Mark UnangstSenior Vice President
RESIDENTIAL FINANCING
1-800-GERSHMAN | www.gershman.com | [email protected]
SUCCESS STORIES
A LETTER FROM ELIZABETH PANKAU
Iwanted to write this letter to inform you of the incredible help that your company was to me when closing on my house. I had
originally decided to use a national mortgage company to secure my loan. I was scheduled to close on June 22. On June 21, they
requested additional paperwork. I had supplied them all the paper work but the situation was not resolved on the 22nd or 23rd.
If I did not close on June 24, I would have been left without a place to live.
I called Scott Alberson in a panic well after normal business hours.
After reassuring me, he had me come to the office at 8:30 on the
morning of June 24. I was able to close on my house at 2:30 that
afternoon. Scott and Valerie went out of their way to make sure
my file was processed in time. Not only that, but Scott matched the
interest rate that the national company had offered me and was
able to reduce my closing costs.
As a first-time home-owner, it was very unsettling to have my original mortgage company fall through on the loan, and I’m not sure
what I would have done if Gershman had not been there to help me. The customer service is outstanding, the rates are fair, and the
loan process was very straightforward. I would not hesitate to recommend you to anyone who is buying a home.
“ I’m not sure what I would have done if
Gershman had not been there to help…”Elizabeth Pankau
A LETTER FROM RICHARD AND JAN BUTLER
Itake this opportunity to thank you and your staff for the outstanding
preparation and execution of the mortgage on our retirement home.
In particular, I want to bring to your attention the clearly superior
performance of Deborah Carpenter, one of your senior loan officers.She came
highly recommended and her performance and professionalism lived up
to the bill given her. Ms. Carpenter is extremely personable and equally
knowledgeable of the mortgage business.She was very thorough in explaining
the process, fees, and the mortgage. From the moment she was introduced,
she projected honesty and forthrightness.Then she delivered exactly what
she said she would. Additionally, she was very prompt. Therefore, we were
able to close on our previous home and immediately close on our present
home. This was a great stress reliever and saved us several hundred
dollars in temporary living costs.
I have purchased 6 homes in the last 30 years. Many times these
were less than pleasant experiences up to and including closing.
Due to Ms.Carpenter’s skills and professional service, this mortgage
process was more than a pleasure.
RESOURCES
WEBSITE
Gershman Mortgage’s website is a resource for
homebuyers and commercial developers alike.
For residential borrowers, the site offers a guide
to home buying and refinancing, checklists,
tips, and calculators as well as current rates and
a secure on-line application. The site also includes information
on commercial loan programs, documents required for review,
and information on the types of properties financed.
www.gershman.com
BUSINESS RELATIONSHIPS
Gershman maintains working relationships with:
• Department of Housing and Urban Development (HUD)
• Department of Veterans Affairs (VA)
• Federal Home Loan Mortgage Corporation (FHLMC)
• Federal National Mortgage Association (FNMA)
• Government National Mortgage Association (GNMA)
• Lenders One
• Missouri Housing Development Commission (MHDC)
• Illinois Housing Development Authority (IHDA)
• Rural Housing Development Authority (RHDA)
LOAN OFFICERS
Gershman Mortgage’s staff consists of the area’s top
professionals. They are skilled in all aspects of the loan process
including loan origination, underwriting, and closings.
Gershman’s commercial loan officers have developed strong
working relationships with HUD officials and others in the
industry. Our residential loan officers guide clients through
every step of the home buying process with prompt,
personalized service. They customize loan programs to meet
financial and homeownership needs.
LOCATIONS
Gershman Mortgage has offices in Missouri, Illinois and Iowa.
Each offers a full complement of mortgage-related services
including application intake, prequalification, preapproval,
underwriting and closing.
Let us know how we may be of service — Simply call, dropus an e-mail, or stop by one of our convenient locations.
7 North BemistonSt. Louis, MO 63105(314) 889-0600
187 Hilltown Village CenterChesterfield, MO 63017(314) 889-0600
386 Festus Centre DriveFestus, MO 63028(636) 931-5626
Gershman Mortgagedba Midwest Lending 3165 So. Campbell Ave., Ste.B7 Springfield, MO 65807 (417) 888-0320
CONTACT:COMMERCIAL LOAN INQUIRIES
ST. LOUIS AREA & NATIONWIDEMORTGAGE SERVICE CENTER
7 North BemistonSt. Louis, MO 63105(314) 889-0600
1-800-GERSHMAN(1-800-437-7462)
CONTACT:RESIDENTIAL LENDING
ILLINOIS IOWA
630 Pierce Boulevard
O'Fallon, IL 62269
(618) 222-1300
P.O. Box 675
Okoboji, IA 51355
(712) 332-6044
MISSOURI
GERSHMAN MORTGAGE
1-800-GERSHMAN (314) 889-0600
www.gershman.com