Legacy Mortgage Rates, Fees & Info
Albuquerque, NMLEI: 54930013LUOQHFFSBB26
Tax ID: 27-0019832
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Mortgage Data
Review & Overview
Legacy Mortgage is a smaller mortgage company specializing in Home Purchase loans. Legacy Mortgage 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: Albuquerque, Santa Fe, Farmington, El Paso, and San Angelo among others. We have data for 26 markets. (Some data included below & more in-depth data is available with an active subscription.)Legacy Mortgage 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. Legacy Mortgage 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.
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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.31% | 11/21/24 |
| 30 Year Conventional Refi | 6.28% | 11/21/24 |
| 30 Year Cash-out Refi | 6.95% | 11/21/24 |
| 30 Year FHA Purchase | 7.56% | 11/21/24 |
| 30 Year FHA Refi | 6.66% | 11/21/24 |
| 30 Year VA Purchase | 6.54% | 11/21/24 |
| 30 Year VA Refi | 6.50% | 11/21/24 |
| 30 Year USDA Purchase | 7.08% | 11/21/24 |
| 15 Year Conventional Purchase | 6.69% | 11/21/24 |
| 15 Year Conventional Refi | 6.44% | 11/21/24 |
| 15 Year Cash-out Refi | 6.44% | 11/21/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Legacy Mortgage Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,414Origination Dollar Volume (All Markets)
$266,750,000Awards
LEGACY MORTGAGE - 2019
LEGACY MORTGAGE is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1,092 | $201,700,000 | $184,707 | $5,186 | 4.25% |
| SANTA FE, NM (FHA|USDA|VA) | 107 | $29,675,000 | $277,336 | $5,394 | 4.29% |
| FARMINGTON, NM (FHA|USDA|VA) | 75 | $11,765,000 | $156,867 | $6,322 | 4.39% |
| EL PASO, TX (FHA|USDA|VA) | 37 | $6,665,000 | $180,135 | $5,970 | 4.74% |
| SAN ANGELO, TX (FHA|USDA|VA) | 32 | $5,070,000 | $158,438 | $6,512 | 4.62% |
| Outside of Metro Areas | 10 | $1,590,000 | $159,000 | $5,621 | 3.86% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 6 | $1,300,000 | $216,667 | $4,693 | 4.29% |
| MIDLAND, TX (FHA|USDA|VA) | 4 | $1,040,000 | $260,000 | $9,051 | 4.75% |
| Deming, NM (FHA|USDA|VA) | 7 | $925,000 | $132,143 | $4,004 | 4.43% |
| LAS CRUCES, NM (FHA|USDA|VA) | 6 | $850,000 | $141,667 | $4,152 | 4.75% |
| Los Alamos, NM (FHA|USDA|VA) | 3 | $825,000 | $275,000 | $4,073 | 4.04% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $815,000 | $271,667 | $8,278 | 4.25% |
| Carlsbad-Artesia, NM (FHA|USDA|VA) | 3 | $725,000 | $241,667 | $7,840 | 4.67% |
| Gallup, NM (FHA|USDA|VA) | 6 | $680,000 | $113,333 | $6,838 | 3.90% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $4,302 | 4.13% |
| Española, NM (FHA|USDA|VA) | 5 | $565,000 | $113,000 | $4,735 | 5.50% |
| Ruidoso, NM (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $2,766 | 5.63% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,761 | 3.63% |
| Las Vegas, NM (FHA|USDA|VA) | 4 | $290,000 | $72,500 | $7,620 | 5.31% |
| Grants, NM (FHA|USDA|VA) | 5 | $255,000 | $51,000 | $3,171 | 5.00% |
| ODESSA, TX (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,648 | 5.00% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,126 | 5.50% |
| Taos, NM (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,792 | 4.88% |
| Big Spring, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $6,391 | 4.25% |
| Roswell, NM (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,970 | 4.38% |
| Alamogordo, NM (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $4,729 | 5.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against LEGACY MORTGAGE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2019, Legacy Mortgage's most frequently originated type of loan was Conventional, with 924 originations. Their 2nd most popular type was FHA, with 343 originations.
Loan Reason
For 2019, Legacy Mortgage's most frequently cited loan purpose was Home Purchase, with 1,261 originations. The 2nd most popular reason was Refi, with 86 originations.
Loan Duration/Length
For 2019, Legacy Mortgage's most frequently cited loan duration was 30 Year, with 1,289 originations. The 2nd most popular length was 15 Year, with 75 originations.
Origination Fees/Closing Costs
Legacy Mortgage's average total fees were $5,385, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 649 originations.
Interest Rates
During 2019, Legacy Mortgage's average interest rate for loans was 4.54%, while their most frequently originated rate bucket for loans was 4-5%, with 674 originations.
Loan Sizing
2019 saw Legacy Mortgage place emphasis on $100k-200k loans with 594 originations, totaling $92,090,000 in origination value.
Applicant Income
Legacy Mortgage lent most frequently to those with incomes in the $50k-75k range, with 418 originations. The second most popular income band? $50k or less, with 393 originations.
Applicant Debt to Income Ratio
Legacy Mortgage lent most frequently to those with DTI ratios of 30-36%, with 223 originations. The next most common DTI ratio? 20-30%, with 205 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.02%
Legacy Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination73.34%
Legacy Mortgage has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 170.0 | 1 | $5,000 | $5,000 |
| 202.48 | 1 | $5,000 | $5,000 |
| 202.68 | 1 | $5,000 | $5,000 |
| 207.86 | 1 | $5,000 | $5,000 |
| 207.88 | 1 | $5,000 | $5,000 |
| 208.87 | 1 | $5,000 | $5,000 |
| 234.84 | 1 | $5,000 | $5,000 |
| 261.54 | 1 | $5,000 | $5,000 |
| 261.81 | 1 | $5,000 | $5,000 |
| 261.82 | 1 | $5,000 | $5,000 |
| 275.0 | 1 | $5,000 | $5,000 |
| 281.81 | 1 | $5,000 | $5,000 |
| 286.81 | 1 | $5,000 | $5,000 |
| 315.75 | 1 | $5,000 | $5,000 |
| 316.5 | 2 | $10,000 | $5,000 |
| 343.7 | 1 | $5,000 | $5,000 |
| NA | 1,397 | $266,665,000 | $190,884 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 39 | $3,795,000 | $97,308 |
| Single Family (1-4 Units):Site-Built | 1,375 | $262,955,000 | $191,240 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| LEXISNEXIS | Other type of mortgage | Trouble during payment process | 1 | 100.0% |