Evolve Mortgage Rates, Fees & Info

El Paso, TX

LEI: 54930020NKD4V7LL4W50

Tax ID: 74-1109894

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

    Evolve is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Evolve has a high proportion of conventional loans. Their top markets by origination volume include: El Paso, Las Cruces, Albuquerque, and Houston among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Evolve has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Evolve 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 3.36% 5/4/24
    30 Year Conventional Refi 5.00% 5/4/24
    30 Year Cash-out Refi 5.10% 5/4/24
    15 Year Conventional Refi 5.60% 5/4/24
    15 Year Cash-out Refi 5.60% 5/4/24
    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.

    Evolve Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Evolve. 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

    95

    Origination Dollar Volume (All Markets)

    $12,185,000

    Awards

    EVOLVE 30 Year Conventional Loans gold EVOLVE 30 Year Conventional Loans gold
    Show all (2) 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
    EL PASO, TX (FHA|USDA|VA) 87 $10,495,000 $120,632 $2,965 3.87%
    LAS CRUCES, NM (FHA|USDA|VA) 5 $945,000 $189,000 $3,131 3.92%
    ALBUQUERQUE, NM (FHA|USDA|VA) 2 $540,000 $270,000 $3,187 3.63%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $205,000 $205,000 $5,396 3.88%
    Evolve's top markets include El Paso, Las Cruces, Albuquerque, and Houston among others.

    Their top states include:
  • Texas (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against EVOLVE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    EVOLVE
    Similarity Rank: 48
    GECU
    Similarity Rank: 92
    PATRIOT MORTGAGE COMPANY
    Similarity Rank: 242
    Citizens Bank of Las Cruces
    Similarity Rank: 294
    FirstLight Federal Credit Union
    Similarity Rank: 296
    Rocky Mountain Mortgage Company
    Similarity Rank: 385
    SECURITY SERVICE
    Similarity Rank: 832
    LEGACY MORTGAGE LLC
    Similarity Rank: 858
    Stifel Bank and Trust
    Similarity Rank: 1029
    Town Square Mortgage & Investments, Inc.
    Similarity Rank: 1050

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 95 $12,185,000 $128,263 $3,004 3.87%

    For 2018, Evolve's most frequently originated type of loan was Conventional, with 95 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 64 $6,400,000 $100,000 $2,811 3.87%
    Home Purchase 23 $4,915,000 $213,696 $3,624 3.89%
    Refi 8 $870,000 $108,750 $2,765 3.82%

    For 2018, Evolve's most frequently cited loan purpose was Cash Out Refi, with 64 originations. The 2nd most popular reason was Home Purchase, with 23 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 36 $6,340,000 $176,111 $3,424 4.01%
    15 Year 33 $3,495,000 $105,909 $2,867 3.65%
    20 Year 18 $1,800,000 $100,000 $2,758 4.21%
    10 Year 6 $470,000 $78,333 $2,542 3.53%
    5 Year 2 $80,000 $40,000 $1,313 2.88%

    For 2018, Evolve's most frequently cited loan duration was 30 Year, with 36 originations. The 2nd most popular length was 15 Year, with 33 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 90 $11,750,000 $130,556
    $1k-2k 5 $435,000 $87,000

    Evolve's average total fees were $3,424, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 90 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 58 $8,500,000 $146,552
    4-5% 29 $3,185,000 $109,828
    5-6% 5 $295,000 $59,000
    2.5-3% 3 $205,000 $68,333

    During 2018, Evolve's average interest rate for loans was 4.01%, while their most frequently originated rate bucket for loans was 3-4%, with 58 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 47 $3,285,000 $69,894 $2,502 4.03%
    $100k-200k 34 $4,890,000 $143,824 $3,261 3.67%
    $200k-400k 11 $2,765,000 $251,364 $3,885 3.78%
    $400k-600k 3 $1,245,000 $415,000 $4,724 3.96%

    2018 saw Evolve place emphasis on $100,000 or less loans with 47 originations, totaling $3,285,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 23 $1,685,000 $73,261 $2,351 4.22%
    $100k-150k 21 $2,685,000 $127,857 $3,182 3.63%
    $75k-100k 18 $2,330,000 $129,444 $2,988 3.78%
    $150k-250k 15 $3,045,000 $203,000 $3,695 3.80%
    $50k-75k 15 $1,505,000 $100,333 $2,692 3.88%
    $250k+ 3 $935,000 $311,667 $4,968 3.63%

    Evolve lent most frequently to those with incomes in the $50k or less range, with 23 originations. The second most popular income band? $100k-150k, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 28 $3,740,000 $133,571 $2,998 3.84%
    30-36% 19 $2,135,000 $112,368 $2,692 3.88%
    <20% 18 $2,660,000 $147,778 $3,353 3.73%
    41% 9 $1,305,000 $145,000 $3,424 3.90%
    42% 5 $385,000 $77,000 $2,201 4.41%
    40% 5 $785,000 $157,000 $3,226 3.45%
    39% 4 $660,000 $165,000 $3,040 4.15%
    38% 3 $225,000 $75,000 $2,672 4.03%
    36% 2 $120,000 $60,000 $2,630 4.43%
    37% 2 $170,000 $85,000 $3,272 3.56%

    Evolve lent most frequently to those with DTI ratios of 20-30%, with 28 originations. The next most common DTI ratio? 30-36%, with 19 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 91 $11,675,000 $128,297 $3,000 3.90%
    Not provided 2 $390,000 $195,000 $3,912 3.18%
    Asian 2 $120,000 $60,000 $2,266 3.09%

    Approval Rates

    Total approvals of all applications
    81.06%

    Evolve has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    89.47%

    Evolve has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 95 $12,185,000 $128,263

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 95 $12,185,000 $128,263

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $350,000 $58,333 $2,209 3.45%
    40-60% 10 $760,000 $76,000 $2,372 3.80%
    60-80% 47 $5,745,000 $122,234 $3,013 3.91%
    80-100% 32 $5,330,000 $166,563 $3,337 3.90%