Gershman Mortgage

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.


• HUD 232/223 (f) Approved Financing

• Up to 80% loan to value for profit (85% if for non-profit)

• 35-year Amortization


• 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.


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)



“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


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


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.


“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


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

Documents

Gershman Mortgage