Everlend Mortgage Company Rates, Fees & Info

Salt Lake City, UT

LEI: 549300VQ0V62WHMGY629

Tax ID: 46-1389922

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Mortgage Data

Review & 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 by origination volume include: Salt Lake City, Ogden, Provo, Heber, and Fort Collins among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

Everlend Mortgage Company 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. Everlend Mortgage Company 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.

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Originations

274

Origination Dollar Volume (All Markets)

$71,830,000

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
SALT LAKE CITY, UT (FHA|USDA|VA) 132 $36,570,000 $277,045 $5,837 4.41%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 73 $18,065,000 $247,466 $5,941 4.44%
PROVO-OREM, UT (FHA|USDA|VA) 56 $13,700,000 $244,643 $7,005 4.73%
Heber, UT (FHA|USDA|VA) 2 $1,250,000 $625,000 $18,169 4.25%
FORT COLLINS, CO (FHA|USDA|VA) 1 $465,000 $465,000 $8,155 5.38%
Price, UT (FHA|USDA|VA) 4 $460,000 $115,000 $4,609 4.50%
POCATELLO, ID (FHA|USDA|VA) 1 $275,000 $275,000 $6,600 4.25%
Vernal, UT (FHA|USDA|VA) 1 $275,000 $275,000 $5,107 3.99%
ST. GEORGE, UT (FHA|USDA|VA) 1 $255,000 $255,000 $5,570 4.12%
BOISE CITY, ID (FHA|USDA|VA) 1 $245,000 $245,000 $6,630 4.75%
LOGAN, UT-ID (FHA|USDA|VA) 1 $215,000 $215,000 $5,632 3.63%
Outside of Metro Areas 1 $55,000 $55,000 $3,852 5.38%
Everlend Mortgage Company's top markets include Salt Lake City, Ogden, Provo, Heber, and Fort Collins among others.

Their top states include:
  • Utah (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Similar Lenders

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

    Jordan Federal Credit Union
    Similarity Rank: 245
    WEBER STATE FEDERAL CREDIT UNION
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    CHARTWAY FEDERAL CREDIT UNION
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    Wasatch Peaks Federal Credit Union
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    West Gate Bank
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    CYPRUS Federal Credit Union
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    GRANITE FEDERAL CREDIT UNION
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    UTAH COMMUNITY
    Similarity Rank: 3575

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 211 $54,935,000 $260,355 $4,879 4.59%
    FHA 47 $12,155,000 $258,617 $10,936 4.23%
    VA 12 $3,950,000 $329,167 $10,273 3.80%
    USDA 4 $790,000 $197,500 $6,527 3.94%

    For 2019, Everlend Mortgage Company's most frequently originated type of loan was Conventional, with 211 originations. Their 2nd most popular type was FHA, with 47 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 169 $42,435,000 $251,095 $6,407 4.74%
    Cash Out Refi 51 $14,615,000 $286,569 $6,213 4.14%
    Refi 46 $12,590,000 $273,696 $5,420 3.92%
    Home Improvement 8 $2,190,000 $273,750 $5,485 4.65%

    For 2019, Everlend Mortgage Company's most frequently cited loan purpose was Home Purchase, with 169 originations. The 2nd most popular reason was Cash Out Refi, with 51 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 260 $68,410,000 $263,115 $6,246 4.52%
    15 Year 10 $2,550,000 $255,000 $5,030 3.95%
    20 Year 4 $870,000 $217,500 $4,666 3.75%

    For 2019, Everlend Mortgage Company's most frequently cited loan duration was 30 Year, with 260 originations. The 2nd most popular length was 15 Year, with 10 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $3k-4k 65 $15,695,000 $241,462
    $4k-5k 53 $16,645,000 $314,057
    $2k-3k 47 $10,415,000 $221,596
    $1k-2k 42 $12,550,000 $298,810
    $5k+ 42 $15,630,000 $372,143
    $<1k 25 $895,000 $35,800

    Everlend Mortgage Company's average total fees were $6,246, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 65 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 119 $34,345,000 $288,613
    4-5% 108 $30,940,000 $286,481
    5-6% 27 $5,855,000 $216,852
    7-8% 10 $290,000 $29,000
    6-7% 9 $125,000 $13,889
    2.5-3% 1 $275,000 $275,000

    During 2019, Everlend Mortgage Company's average interest rate for loans was 4.52%, while their most frequently originated rate bucket for loans was 3-4%, with 119 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 164 $45,930,000 $280,061 $6,983 4.24%
    $100k-200k 48 $7,550,000 $157,292 $5,225 4.38%
    $400k-600k 30 $13,670,000 $455,667 $7,320 4.10%
    $100,000 or less 26 $510,000 $19,615 $750 6.59%
    $600k-1MM 6 $4,170,000 $695,000 $9,601 4.90%

    2019 saw Everlend Mortgage Company place emphasis on $200k-400k loans with 164 originations, totaling $45,930,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 103 $23,375,000 $226,942 $6,289 4.62%
    $75k-100k 56 $15,410,000 $275,179 $6,688 4.33%
    $50k or less 50 $8,150,000 $163,000 $4,989 4.48%
    $100k-150k 34 $11,100,000 $326,471 $6,411 4.35%
    $150k-250k 20 $8,150,000 $407,500 $6,173 4.42%
    $250k+ 11 $5,645,000 $513,182 $7,236 4.61%

    Everlend Mortgage Company lent most frequently to those with incomes in the $50k-75k range, with 103 originations. The second most popular income band? $75k-100k, with 56 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 43 $12,895,000 $299,884 $5,370 4.22%
    30-36% 39 $8,515,000 $218,333 $5,052 4.69%
    44% 19 $5,895,000 $310,263 $7,371 4.30%
    43% 19 $5,145,000 $270,789 $5,708 4.09%
    39% 16 $3,750,000 $234,375 $5,614 4.60%
    50-60% 15 $3,615,000 $241,000 $9,883 4.76%
    37% 14 $3,690,000 $263,571 $6,534 4.42%
    42% 13 $2,785,000 $214,231 $5,149 5.03%
    36% 12 $3,350,000 $279,167 $6,611 4.35%
    <20% 11 $3,795,000 $345,000 $5,800 4.09%
    41% 11 $2,815,000 $255,909 $7,344 4.46%
    40% 10 $2,150,000 $215,000 $6,757 4.84%
    49% 10 $2,120,000 $212,000 $6,008 4.44%
    46% 10 $2,670,000 $267,000 $8,005 4.26%
    45% 9 $1,585,000 $176,111 $4,597 5.07%
    47% 8 $2,810,000 $351,250 $6,929 4.42%
    38% 8 $1,960,000 $245,000 $6,084 4.45%
    48% 7 $2,285,000 $326,429 $6,110 4.96%

    Everlend Mortgage Company lent most frequently to those with DTI ratios of 20-30%, with 43 originations. The next most common DTI ratio? 30-36%, with 39 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 254 $66,620,000 $262,283 $6,071 4.50%
    Not provided 11 $2,875,000 $261,364 $6,050 4.23%
    Asian 3 $765,000 $255,000 $10,699 4.96%
    Native Hawaiian or Islander 2 $650,000 $325,000 $10,595 4.38%
    American Indian 2 $600,000 $300,000 $9,075 4.00%
    Black 2 $320,000 $160,000 $6,338 4.19%

    Approval Rates

    Total approvals of all applications
    94.51%

    Everlend Mortgage Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    64.23%

    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 274 $71,830,000 $262,153

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 3 $435,000 $145,000
    Single Family (1-4 Units):Site-Built 271 $71,395,000 $263,450

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $620,000 $155,000 $3,560 3.91%
    40-60% 25 $5,725,000 $229,000 $4,693 4.10%
    60-80% 89 $27,605,000 $310,169 $5,488 4.26%
    80-100% 130 $36,440,000 $280,308 $7,809 4.33%
    Over 100% 3 $1,155,000 $385,000 $16,057 3.96%
    Under 20% 23 $285,000 $12,391 $412 6.80%