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, Refi, and Home Purchase loans. Evolve has a high proportion of conventional loans. Their top markets by origination volume include: El Paso, Las Cruces, and Austin among others. We have data for 3 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 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% 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

    80

    Origination Dollar Volume (All Markets)

    $13,780,000

    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) 77 $13,305,000 $172,792 $5,673 3.31%
    LAS CRUCES, NM (FHA|USDA|VA) 2 $350,000 $175,000 $2,972 3.86%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $125,000 $125,000 $5,801 2.73%
    Evolve's top markets include El Paso, Las Cruces, and Austin 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: 75
    PATRIOT MORTGAGE COMPANY
    Similarity Rank: 122
    EL PASO AREA TEACHERS
    Similarity Rank: 258
    GECU
    Similarity Rank: 320
    Rocky Mountain Mortgage Company
    Similarity Rank: 485
    FirstLight Federal Credit Union
    Similarity Rank: 530
    CADENCE LENDING GROUP, INC.
    Similarity Rank: 1120
    SECURITY SERVICE
    Similarity Rank: 1290
    LEGACY MORTGAGE LLC
    Similarity Rank: 3672
    First National Bank Texas
    Similarity Rank: 6519

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 80 $13,780,000 $172,250 $5,607 3.32%

    For 2022, Evolve's most frequently originated type of loan was Conventional, with 80 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 33 $4,335,000 $131,364 $4,713 3.35%
    Refi 31 $5,805,000 $187,258 $6,534 3.13%
    Home Purchase 16 $3,640,000 $227,500 $5,654 3.63%

    For 2022, Evolve's most frequently cited loan purpose was Cash Out Refi, with 33 originations. The 2nd most popular reason was Refi, with 31 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 51 $10,185,000 $199,706 $6,113 3.43%
    15 Year 13 $1,605,000 $123,462 $4,334 3.31%
    20 Year 12 $1,720,000 $143,333 $5,707 3.16%
    10 Year 2 $180,000 $90,000 $4,225 2.75%
    5 Year 2 $90,000 $45,000 $1,743 2.13%

    For 2022, Evolve's most frequently cited loan duration was 30 Year, with 51 originations. The 2nd most popular length was 15 Year, with 13 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 32 $5,200,000 $162,500
    $5k+ 16 $4,500,000 $281,250
    $3k-4k 15 $1,895,000 $126,333
    $4k-5k 9 $1,575,000 $175,000
    $2k-3k 8 $610,000 $76,250

    Evolve's average total fees were $6,113, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 32 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 37 $7,005,000 $189,324
    3-4% 20 $3,470,000 $173,500
    4-5% 16 $2,420,000 $151,250
    <2.5% 6 $830,000 $138,333
    5-6% 1 $55,000 $55,000

    During 2022, Evolve's average interest rate for loans was 3.43%, while their most frequently originated rate bucket for loans was 2.5-3%, with 37 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 39 $5,745,000 $147,308 $5,198 3.31%
    $200k-400k 22 $5,940,000 $270,000 $8,101 3.09%
    $100,000 or less 17 $1,105,000 $65,000 $3,361 3.57%
    $400k-600k 2 $990,000 $495,000 $5,226 4.01%

    2022 saw Evolve place emphasis on $100k-200k loans with 39 originations, totaling $5,745,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 24 $4,890,000 $203,750 $6,253 3.15%
    $50k-75k 21 $2,745,000 $130,714 $4,623 3.54%
    $50k or less 11 $965,000 $87,727 $4,084 3.71%
    $150k-250k 10 $2,350,000 $235,000 $7,338 2.90%
    $75k-100k 8 $1,380,000 $172,500 $5,779 3.38%
    $250k+ 5 $1,335,000 $267,000 $6,744 3.06%

    Evolve lent most frequently to those with incomes in the $100k-150k range, with 24 originations. The second most popular income band? $50k-75k, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 24 $3,650,000 $152,083 $5,195 3.36%
    30-36% 16 $2,560,000 $160,000 $5,924 3.23%
    39% 8 $1,020,000 $127,500 $4,494 3.39%
    40% 8 $1,730,000 $216,250 $6,872 3.05%
    42% 7 $1,055,000 $150,714 $5,452 3.18%
    38% 5 $815,000 $163,000 $5,594 3.84%
    <20% 4 $810,000 $202,500 $7,497 2.71%
    37% 3 $705,000 $235,000 $4,782 4.34%
    41% 3 $735,000 $245,000 $6,162 3.24%
    36% 2 $700,000 $350,000 $4,596 3.43%

    Evolve lent most frequently to those with DTI ratios of 20-30%, with 24 originations. The next most common DTI ratio? 30-36%, with 16 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 61 $10,075,000 $165,164 $5,449 3.32%
    Not provided 15 $2,805,000 $187,000 $5,767 3.33%
    American Indian 3 $715,000 $238,333 $7,424 3.48%
    Asian 1 $185,000 $185,000 $7,371 2.73%

    Approval Rates

    Total approvals of all applications
    82.05%

    Evolve has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    82.50%

    Evolve has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 80 $13,780,000 $172,250

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    80 $13,780,000 $172,250

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $720,000 $90,000 $3,580 3.31%
    40-60% 14 $1,430,000 $102,143 $3,809 3.42%
    60-80% 36 $6,310,000 $175,278 $5,917 3.21%
    80-100% 22 $5,320,000 $241,818 $6,980 3.45%