Evergreen Home Loans held the grand opening of its Montrose office with a ribbon-cutting ceremony last week, celebrating the company’s entry into the Western Colorado mortgage market.
The office, located at 1425 Hawk Parkway Unit 4 and led by longtime Montrose resident and mortgage professional Wil Harmsen, officially opened after Harmsen joined Evergreen in November. The branch currently employs two people and serves homebuyers throughout Montrose and surrounding communities.
Harmsen, who has worked in the mortgage industry for 26 years, said Evergreen’s culture and product offerings made it a natural fit after he decided to leave his previous company.
“I like working with the smaller companies,” Harmsen said. “The company that I’d been working for became bigger. I vetted four companies, and Evergreen just seemed like the natural fit.”
While Evergreen has operated in Colorado previously, Harmsen said the Montrose location is among the company’s first Colorado branches in recent years. The lender is headquartered in Washington and operates throughout the western United States.
The company offers conventional, jumbo, FHA, VA, USDA Rural Development and Colorado Housing and Finance Authority loan programs, as well as down-payment assistance options.
Harmsen said Evergreen also offers specialty products including bridge-style financing programs designed to help borrowers transition between homes.
Using a local lender
Harmsen emphasized the value of working with a local lender who understands both the community and the individual needs of borrowers.
“You’re only as good as your lender,” he said. “I’m going to listen to you. I’m going to ask questions to make sure we’re putting you in the right product that fits your short- and long-term financial needs.”
A Montrose native, Harmsen has lived in the community since 1970, attending local schools before leaving to attend college in Gunnison and eventually returning.
“Montrose is my home,” he said. “I love it here. I love living here. I love having my kids here.”
Looking ahead, Harmsen said he hopes to use the Montrose office as a foundation for expanding Evergreen’s presence throughout Western Colorado.
“My goal is to expand the Evergreen footprint in Western Colorado,” he said. “Whether that’s Delta, Grand Junction, Durango — that’s what we’re working on.”
Harmsen currently maintains offices in both Montrose and Ridgway and said the company plans to continue building relationships with homebuyers and real estate professionals throughout the region.
The current housing market and looking ahead
Harmsen also shared thoughts about the current home buying market.
Harmsen said the housing market has cooled from the rapid growth seen during and immediately after the COVID-19 pandemic, when housing prices climbed dramatically across much of Western Colorado.
“I think we’re going through a natural correction in the market,” he said. “That’s why they call it an economic cycle.”
While experienced homebuyers have generally adapted to current market conditions, Harmsen said first-time buyers continue to face significant affordability challenges.
“For first-time homebuyers, you do a $300,000 or $400,000 home and your payment’s $2,800 to $3,500,” he said. “That’s a lot on a family in Montrose.”
Harmsen said rising home prices combined with higher interest rates have made it increasingly difficult for many local residents to enter the housing market, particularly those relying on a single income.
Rather than focusing on finding a single loan product to overcome affordability challenges, Harmsen said his approach centers on helping borrowers understand their financial options and long-term goals.
“I want to set you up for success, not failure,” he said.
Justin Tubbs is the Montrose Business Times editor. He can be reached by email at justin@montrosebusinesstimes.com or by phone at 970-765-0915 or mobile at 254-246-2260.
