Evergreen Mortgage Rates, Fees & Info
Portland, MELEI: 54930064FQE21RHEG647
Tax ID: 01-0216328
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Mortgage Data
Review & Overview
Evergreen is a smaller mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Evergreen has a high proportion of conventional loans. Their top markets by origination volume include: Portland, Lewiston, Augusta, and Bangor among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Evergreen 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. Evergreen 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.07% | 11/21/24 |
| 30 Year Conventional Refi | 6.19% | 11/21/24 |
| 30 Year Cash-out Refi | 5.27% | 11/21/24 |
| 15 Year Conventional Purchase | 4.91% | 11/21/24 |
| 15 Year Conventional Refi | 6.08% | 11/21/24 |
| 15 Year Cash-out Refi | 6.08% | 11/21/24 |
| 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. | ||
Evergreen Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
250Origination Dollar Volume (All Markets)
$40,780,000Top 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 |
|---|---|---|---|---|---|
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 223 | $36,745,000 | $164,776 | $3,069 | 3.91% |
| Outside of Metro Areas | 16 | $2,240,000 | $140,000 | $2,928 | 3.90% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 6 | $1,020,000 | $170,000 | $2,582 | 4.67% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 4 | $740,000 | $185,000 | $3,297 | 4.66% |
| BANGOR, ME (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $3,528 | 2.88% |
Similar Lenders
We use machine learning to identify the top lenders compared against EVERGREEN based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 241 | $39,605,000 | $164,336 | $3,058 | 3.86% |
| HELOC | 9 | $1,175,000 | $130,556 | n/a | 5.94% |
For 2020, Evergreen's most frequently originated type of loan was Conventional, with 241 originations. Their 2nd most popular type was HELOC, with 9 originations.
Loan Reason
For 2020, Evergreen's most frequently cited loan purpose was Refi, with 111 originations. The 2nd most popular reason was Cash Out Refi, with 58 originations.
Loan Duration/Length
For 2020, Evergreen's most frequently cited loan duration was 30 Year, with 83 originations. The 2nd most popular length was 10 Year, with 63 originations.
Origination Fees/Closing Costs
Evergreen's average total fees were $4,529, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 84 originations.
Interest Rates
During 2020, Evergreen's average interest rate for loans was 3.61%, while their most frequently originated rate bucket for loans was 3-4%, with 97 originations.
Loan Sizing
2020 saw Evergreen place emphasis on $100k-200k loans with 93 originations, totaling $14,105,000 in origination value.
Applicant Income
Evergreen lent most frequently to those with incomes in the $50k-75k range, with 70 originations. The second most popular income band? $100k-150k, with 44 originations.
Applicant Debt to Income Ratio
Evergreen lent most frequently to those with DTI ratios of 20-30%, with 57 originations. The next most common DTI ratio? 30-36%, with 49 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.05%
Evergreen has a below average approval rate.
Pick Rate
Approvals leading to origination51.20%
Evergreen has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 250 | $40,780,000 | $163,120 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Evergreen Moneysource Mortgage Company | FHA mortgage | Struggling to pay mortgage | 2 | 66.7% |
| Evergreen Moneysource Mortgage Company | FHA mortgage | Trouble during payment process | 1 | 33.3% |