Everlend Mortgage Company Rates, Fees & Info

Salt Lake City, UT

LEI: 549300VQ0V62WHMGY629

Tax ID: 46-1389922

3.5 stars - out of 5 stars, based on 18 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Everlend Mortgage Company is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Everlend Mortgage Company has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Salt Lake City, Ogden, Provo, Heber, and St. George among others. Everlend Mortgage Company has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Everlend Mortgage Company is typically a high fee lendor.


Originations

319

Origination Dollar Volume (All Markets)

$107,305,000

Relative Rate

Everlend Mortgage Company's average 30 year fixed rate mortgage of loans were 3.19%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.04%.

Relative Fees

Everlend Mortgage Company's average total fees for a 30 year fixed rate mortgage are $6,176.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
SALT LAKE CITY, UT (FHA|USDA|VA) 119 $43,315,000 $363,992 $5,902 3.07%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 104 $34,040,000 $327,308 $5,468 3.11%
PROVO-OREM, UT (FHA|USDA|VA) 73 $22,645,000 $310,205 $6,379 3.27%
Outside of Metro Areas 8 $2,330,000 $291,250 $8,645 3.47%
Heber, UT (FHA|USDA|VA) 4 $1,800,000 $450,000 $4,714 2.91%
ST. GEORGE, UT (FHA|USDA|VA) 3 $985,000 $328,333 $5,391 3.29%
BOISE CITY, ID (FHA|USDA|VA) 1 $405,000 $405,000 $8,833 2.75%
Hailey, ID (FHA|USDA|VA) 1 $405,000 $405,000 $7,091 3.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 2 $370,000 $185,000 $6,302 3.63%
Price, UT (FHA|USDA|VA) 1 $365,000 $365,000 $14,272 3.63%
GRAND JUNCTION, CO (FHA|USDA|VA) 1 $325,000 $325,000 $5,725 2.49%
LOGAN, UT-ID (FHA|USDA|VA) 2 $320,000 $160,000 $3,238 2.81%

Everlend Mortgage Company's top markets include Salt Lake City, Ogden, Provo, Heber, and St. George among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 279 $92,315,000 $330,878 $5,044 3.17%
FHA 27 $9,175,000 $339,815 $12,908 2.99%
VA 11 $5,175,000 $470,455 $11,068 2.85%
USDA 2 $640,000 $320,000 $8,937 2.94%

For the 2021 period, Everlend Mortgage Company's most frequently originated loan type of loans were Conventional, with 279 originations. Their 2nd most popular type is FHA, with 27 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 126 $46,780,000 $371,270 $7,284 3.28%
Cash Out Refi 120 $37,060,000 $308,833 $5,051 3.10%
Refi 55 $17,725,000 $322,273 $4,960 2.91%
Home Improvement 18 $5,740,000 $318,889 $5,603 3.12%

For the 2021, Everlend Mortgage Company's most frequently cited loan purpose of loans were Home Purchase, with 126 originations. The 2nd most popular reason of loans were Cash Out Refi, with 120 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 289 $99,685,000 $344,931 $6,176 3.19%
15 Year 17 $4,215,000 $247,941 $3,788 2.68%
20 Year 12 $3,210,000 $267,500 $3,723 2.67%
10 Year 1 $195,000 $195,000 $2,679 2.63%

For the 2021, Everlend Mortgage Company's most frequently cited loan length of loans were 30 Year, with 289 originations. The 2nd most popular length of loans were 15 Year, with 17 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$3k-4k 109 $36,345,000 $333,440
$1k-2k 88 $31,530,000 $358,295
$2k-3k 57 $13,345,000 $234,123
$5k+ 56 $25,920,000 $462,857
$<1k 9 $165,000 $18,333

$6,176 of loans were Everlend Mortgage Company's average total fees, while their most frequently occuring range of origination fees were in the $3k-4k bucket, with 109 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 149 $53,865,000 $361,510
2.5-3% 131 $43,595,000 $332,786
<2.5% 26 $8,330,000 $320,385
4-5% 7 $1,395,000 $199,286
5-6% 6 $120,000 $20,000

During 2021, Everlend Mortgage Company's average interest rate of loans were 3.19%, while their most frequently originated rate bucket of loans were 3-4%, with 149 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 168 $49,950,000 $297,321 $5,961 3.10%
$400k-600k 76 $35,680,000 $469,474 $7,285 3.09%
$100k-200k 45 $7,595,000 $168,778 $3,943 2.98%
$600k-1MM 16 $11,480,000 $717,500 $7,718 3.16%
$100,000 or less 12 $430,000 $35,833 $1,404 4.61%
$1MM+ 2 $2,170,000 $1,085,000 $9,465 3.31%

2021 saw Everlend Mortgage Company place emphasis on $200k-400k loans with 168 originations, totaling $49,950,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 88 $24,570,000 $279,205 $5,817 3.13%
$100k-150k 75 $27,915,000 $372,200 $5,976 3.04%
$75k-100k 58 $18,810,000 $324,310 $6,801 3.22%
$50k or less 39 $8,185,000 $209,872 $4,746 3.18%
$150k-250k 37 $16,555,000 $447,432 $5,916 3.20%
$250k+ 22 $11,270,000 $512,273 $6,255 3.11%

Everlend Mortgage Company lent most frequently to those with incomes in the $50k-75k range, with 88 originations. The second most popular income band? $100k-150k, with 75 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 67 $22,595,000 $337,239 $5,071 3.02%
30-36% 58 $19,090,000 $329,138 $5,679 3.18%
44% 20 $6,560,000 $328,000 $6,259 3.08%
39% 19 $6,445,000 $339,211 $5,640 3.22%
<20% 18 $5,880,000 $326,667 $4,611 3.03%
36% 16 $4,220,000 $263,750 $5,647 3.46%
43% 16 $6,130,000 $383,125 $7,065 3.30%
42% 15 $5,625,000 $375,000 $5,416 3.14%
41% 15 $5,125,000 $341,667 $6,872 3.25%
37% 12 $2,850,000 $237,500 $3,798 3.09%
38% 12 $4,000,000 $333,333 $6,301 2.94%
40% 10 $3,810,000 $381,000 $6,598 3.02%
50-60% 10 $3,330,000 $333,000 $12,491 2.90%
45% 8 $3,390,000 $423,750 $5,576 3.34%
46% 7 $2,845,000 $406,429 $6,006 3.07%
49% 6 $1,860,000 $310,000 $5,461 3.87%
47% 5 $1,725,000 $345,000 $8,830 3.00%
48% 5 $1,825,000 $365,000 $9,919 3.05%

Everlend Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 67 originations. The next most common DTI ratio? 30-36%, with 58 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 298 $100,160,000 $336,107 $5,901 3.14%
Not provided 13 $4,595,000 $353,462 $5,553 2.97%
Black 3 $825,000 $275,000 $7,958 3.92%
Native Hawaiian 1 $675,000 $675,000 $11,441 3.13%
American Indian 2 $640,000 $320,000 $10,619 2.50%
Asian 1 $225,000 $225,000 $5,206 2.63%
Chinese 1 $185,000 $185,000 $3,728 3.12%

Approval Rates

Total approvals of all applications
96.05%

Everlend Mortgage Company has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
69.22%

Everlend Mortgage Company 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 319 $107,305,000 $336,379

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
319 $107,305,000 $336,379

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 15 $2,555,000 $170,333 $3,861 2.96%
40-60% 78 $21,590,000 $276,795 $4,119 2.97%
60-80% 125 $47,105,000 $376,840 $5,732 3.20%
80-100% 90 $35,180,000 $390,889 $8,463 3.04%
Over 100% 2 $710,000 $355,000 $14,815 2.88%
Under 20% 9 $165,000 $18,333 $425 5.11%