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 loans. Evolve has a high proportion of conventional loans. Their top markets by origination volume include: El Paso, San Antonio, Ruidoso, and Silver City 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 above 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 an average 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% 12/16/24
    30 Year Conventional Refi 5.00% 12/16/24
    30 Year Cash-out Refi 5.10% 12/16/24
    15 Year Conventional Refi 5.60% 12/16/24
    15 Year Cash-out Refi 5.60% 12/16/24
    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

    70

    Origination Dollar Volume (All Markets)

    $10,450,000

    Awards

    EVOLVE 30 Year Conventional Loans silver
    Show all (1) 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) 67 $10,055,000 $150,075 $5,028 2.96%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $205,000 $205,000 $7,520 2.78%
    Ruidoso, NM (FHA|USDA|VA) 1 $115,000 $115,000 $5,087 2.00%
    Silver City, NM (FHA|USDA|VA) 1 $75,000 $75,000 $2,997 3.48%
    Evolve's top markets include El Paso, San Antonio, Ruidoso, and Silver City 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.

    GECU
    Similarity Rank: 124
    Citizens Bank of Las Cruces
    Similarity Rank: 208
    EVOLVE
    Similarity Rank: 272
    EL PASO AREA TEACHERS
    Similarity Rank: 510
    PATRIOT MORTGAGE COMPANY
    Similarity Rank: 696
    FirstLight Federal Credit Union
    Similarity Rank: 858
    Rocky Mountain Mortgage Company
    Similarity Rank: 1290
    SECURITY SERVICE
    Similarity Rank: 1344
    CADENCE LENDING GROUP, INC.
    Similarity Rank: 1924
    CLEARPATH LENDING
    Similarity Rank: 6300

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 70 $10,450,000 $149,286 $5,036 2.95%

    For 2021, Evolve's most frequently originated type of loan was Conventional, with 70 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 53 $6,925,000 $130,660 $4,682 2.99%
    Refi 11 $1,905,000 $173,182 $5,818 2.65%
    Home Purchase 6 $1,620,000 $270,000 $6,724 3.14%

    For 2021, Evolve's most frequently cited loan purpose was Cash Out Refi, with 53 originations. The 2nd most popular reason was Refi, with 11 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 27 $3,585,000 $132,778 $4,598 2.81%
    30 Year 24 $4,730,000 $197,083 $6,332 3.08%
    20 Year 11 $1,485,000 $135,000 $4,896 3.21%
    10 Year 6 $540,000 $90,000 $3,118 2.82%
    5 Year 2 $110,000 $55,000 $1,913 2.20%

    For 2021, Evolve's most frequently cited loan duration was 15 Year, with 27 originations. The 2nd most popular length was 30 Year, with 24 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 29 $3,555,000 $122,586
    $5k+ 12 $3,060,000 $255,000
    $3k-4k 11 $1,535,000 $139,545
    $4k-5k 8 $1,440,000 $180,000
    $2k-3k 7 $605,000 $86,429
    $1k-2k 3 $255,000 $85,000

    Evolve's average total fees were $6,332, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 29 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 32 $5,490,000 $171,563
    3-4% 21 $2,705,000 $128,810
    <2.5% 14 $2,140,000 $152,857
    4-5% 3 $115,000 $38,333

    During 2021, Evolve's average interest rate for loans was 3.08%, while their most frequently originated rate bucket for loans was 2.5-3%, with 32 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 35 $4,865,000 $139,000 $4,924 2.85%
    $100,000 or less 18 $1,190,000 $66,111 $2,642 3.33%
    $200k-400k 16 $3,980,000 $248,750 $8,001 2.71%
    $400k-600k 1 $415,000 $415,000 $4,575 3.38%

    2021 saw Evolve place emphasis on $100k-200k loans with 35 originations, totaling $4,865,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 23 $3,085,000 $134,130 $4,225 2.90%
    $150k-250k 15 $2,505,000 $167,000 $5,920 2.82%
    $75k-100k 12 $1,990,000 $165,833 $5,918 2.90%
    $50k or less 10 $820,000 $82,000 $3,177 3.49%
    $250k+ 5 $1,425,000 $285,000 $8,119 2.83%
    $50k-75k 5 $625,000 $125,000 $4,629 2.71%

    Evolve lent most frequently to those with incomes in the $100k-150k range, with 23 originations. The second most popular income band? $150k-250k, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 25 $3,925,000 $157,000 $4,654 2.85%
    30-36% 12 $1,970,000 $164,167 $5,685 2.87%
    41% 6 $640,000 $106,667 $4,179 3.02%
    39% 5 $845,000 $169,000 $5,740 3.28%
    40% 5 $805,000 $161,000 $6,507 3.03%
    38% 5 $875,000 $175,000 $6,029 2.94%
    <20% 4 $450,000 $112,500 $4,528 3.08%
    37% 3 $405,000 $135,000 $5,201 2.52%
    42% 3 $285,000 $95,000 $2,885 3.48%
    36% 2 $250,000 $125,000 $4,550 3.00%

    Evolve lent most frequently to those with DTI ratios of 20-30%, with 25 originations. The next most common DTI ratio? 30-36%, with 12 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 61 $8,695,000 $142,541 $4,884 2.95%
    Black 3 $605,000 $201,667 $4,973 3.28%
    Asian 3 $575,000 $191,667 $6,027 2.76%
    Not provided 2 $380,000 $190,000 $6,913 2.98%
    Native Hawaiian or Islander 1 $195,000 $195,000 $7,735 2.23%

    Approval Rates

    Total approvals of all applications
    90.63%

    Evolve has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.29%

    Evolve has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 70 $10,450,000 $149,286

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    70 $10,450,000 $149,286

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $325,000 $65,000 $2,772 2.86%
    40-60% 12 $1,470,000 $122,500 $4,189 2.59%
    60-80% 30 $4,430,000 $147,667 $5,330 3.04%
    80-100% 22 $4,190,000 $190,455 $5,779 2.96%
    Under 20% 1 $35,000 $35,000 $1,323 4.63%