Mortgage banker Evesham Mortgage has doubled its office space with the recent move to a new 4,400 location on Route 70, in the Burlington County township, and the 18-person company is now positioned to more than double its staff over the next three to five years, according to Robert Kelley, chief operating officer.
The company's move from Main Street, in Evesham, to the Plaza 70 shopping mall "marks a reinvestment in the community — we very much wanted to become an anchor there," said CEO Rick Brown.
Founded in 2008, Evesham Mortgage has seen its total loan volume rise from $24 million in 2011, when it was a six-person company, to a projected loan volume of $96 million in 2013.
Kelley said all the company's business comes via referrals, and growth reflects the expansion of its relationships with real estate agents. Evesham is a licensed mortgage lender in New Jersey, Pennsylvania and Florida; locally, it primarily serves South Jersey.
Rates on a 30-year fixed rate mortgage have ticked up in recent months, from a low of about 3.375 percent toward the end of 2012 to about 4.5 percent today, Kelley said: "That has created an urgency within buyers to get off the fence and get out there and take advantage of these great values that are still available in the real estate market."
He said homes are selling faster, with some attracting multiple offers, and "we are slowly shifting toward a seller's market form a buyer's market."
Reporter Beth Fitzgerald is @BethFitzgerald8 on Twitter.