Legacybank Mortgage Rates, Fees & Info

Grundy, VA

LEI: 254900QIXIWRRJZY1H73

Tax ID: 54-0739484

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Legacybank is a smaller bank specializing in Home Purchase and Refi loans. Legacybank has a high proportion of conventional loans. Their top markets by origination volume include: Kingsport, Bluefield, Crestview, Sevierville, and Big Stone Gap among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Legacybank 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.

    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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    Originations

    63

    Origination Dollar Volume (All Markets)

    $23,775,000

    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
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 14 $9,090,000 $649,286 $0 0.00%
    Bluefield, WV-VA (FHA|USDA|VA) 26 $6,310,000 $242,692 $0 0.00%
    Outside of Metro Areas 17 $3,955,000 $232,647 $0 0.00%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $2,755,000 $2,755,000 $0 0.00%
    Sevierville, TN (FHA|USDA|VA) 1 $655,000 $655,000 $0 0.00%
    Big Stone Gap, VA (FHA|USDA|VA) 1 $555,000 $555,000 $0 0.00%
    BECKLEY, WV (FHA|USDA|VA) 2 $370,000 $185,000 $0 0.00%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
    Legacybank's top markets include Kingsport, Bluefield, Crestview, Sevierville, and Big Stone Gap among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 63 $23,775,000 $377,381 $0 0.00%

    For 2024, Legacybank's most frequently originated type of loan was Conventional, with 63 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 39 $16,415,000 $420,897 $0 0.00%
    Refi 18 $6,510,000 $361,667 $0 0.00%
    Home Improvement 4 $670,000 $167,500 $0 0.00%
    Other 2 $180,000 $90,000 $0 0.00%

    For 2024, Legacybank's most frequently cited loan purpose was Home Purchase, with 39 originations. The 2nd most popular reason was Refi, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 63 $23,775,000 $377,381 $0 0.00%

    For 2024, Legacybank's most frequently cited loan duration was Other, with 63 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 23 $1,365,000 $59,348 $0 0.00%
    $100k-200k 17 $2,245,000 $132,059 $0 0.00%
    $200k-400k 8 $2,690,000 $336,250 $0 0.00%
    $1MM+ 7 $12,165,000 $1,737,857 $0 0.00%
    $400k-600k 4 $2,070,000 $517,500 $0 0.00%
    $600k-1MM 4 $3,240,000 $810,000 $0 0.00%

    2024 saw Legacybank place emphasis on $100,000 or less loans with 23 originations, totaling $1,365,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 7 $505,000 $72,143 $0 0.00%
    $150k-250k 5 $505,000 $101,000 $0 0.00%
    $250k+ 5 $2,545,000 $509,000 $0 0.00%
    $50k or less 5 $215,000 $43,000 $0 0.00%
    $100k-150k 4 $780,000 $195,000 $0 0.00%
    $75k-100k 1 $55,000 $55,000 $0 0.00%

    Legacybank lent most frequently to those with incomes in the $50k-75k range, with 7 originations. The second most popular income band? $150k-250k, with 5 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 63 $23,775,000 $377,381 $0 0.00%

    Legacybank lent most frequently to those with DTI ratios of Exempt%, with 63 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 36 $19,170,000 $532,500 $0 0.00%
    White 26 $3,950,000 $151,923 $0 0.00%
    Asian Indian 1 $655,000 $655,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.00%

    Legacybank 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
    85.71%

    Legacybank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 63 $23,775,000 $377,381

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    63 $23,775,000 $377,381