Legacy Mortgage Rates, Fees & Info

Albuquerque, NM

LEI: 54930013LUOQHFFSBB26

Tax ID: 27-0019832

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • 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

    Legacy Mortgage is a smaller mortgage company specializing in Home Purchase and Refi 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, San Angelo, and El Paso among others. We have data for 29 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 7.31% 4/21/24
    30 Year Conventional Refi 6.28% 4/21/24
    30 Year Cash-out Refi 6.95% 4/21/24
    30 Year FHA Purchase 7.56% 4/21/24
    30 Year FHA Refi 6.66% 4/21/24
    30 Year VA Purchase 6.54% 4/21/24
    30 Year VA Refi 6.50% 4/21/24
    30 Year USDA Purchase 7.08% 4/21/24
    15 Year Conventional Purchase 6.69% 4/21/24
    15 Year Conventional Refi 6.44% 4/21/24
    15 Year Cash-out Refi 6.44% 4/21/24
    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






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Legacy Mortgage. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    2,192

    Origination Dollar Volume (All Markets)

    $439,270,000

    Awards

    LEGACY MORTGAGE FHA Loans bronze
    Show all (1) awards

    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) 1,763 $347,655,000 $197,195 $5,166 3.50%
    SANTA FE, NM (FHA|USDA|VA) 127 $36,775,000 $289,567 $5,135 3.34%
    FARMINGTON, NM (FHA|USDA|VA) 93 $14,265,000 $153,387 $5,404 3.72%
    SAN ANGELO, TX (FHA|USDA|VA) 50 $8,800,000 $176,000 $6,505 3.39%
    EL PASO, TX (FHA|USDA|VA) 44 $8,670,000 $197,045 $6,437 3.39%
    Los Alamos, NM (FHA|USDA|VA) 11 $2,885,000 $262,273 $7,508 3.51%
    Española, NM (FHA|USDA|VA) 15 $2,485,000 $165,667 $5,616 3.03%
    Outside of Metro Areas 14 $2,300,000 $164,286 $5,053 3.17%
    LAS CRUCES, NM (FHA|USDA|VA) 15 $2,265,000 $151,000 $4,409 3.25%
    Taos, NM (FHA|USDA|VA) 6 $2,030,000 $338,333 $5,451 3.85%
    Las Vegas, NM (FHA|USDA|VA) 9 $1,855,000 $206,111 $6,997 3.82%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 4 $1,730,000 $432,500 $7,090 3.16%
    Durango, CO (FHA|USDA|VA) 4 $1,120,000 $280,000 $3,748 3.16%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 4 $980,000 $245,000 $5,599 3.50%
    MIDLAND, TX (FHA|USDA|VA) 3 $785,000 $261,667 $6,245 3.54%
    Deming, NM (FHA|USDA|VA) 8 $770,000 $96,250 $5,190 4.25%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 3 $615,000 $205,000 $8,618 3.42%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $610,000 $305,000 $3,555 3.00%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 2 $500,000 $250,000 $4,086 3.31%
    Roswell, NM (FHA|USDA|VA) 3 $375,000 $125,000 $5,484 3.88%
    Alamogordo, NM (FHA|USDA|VA) 2 $350,000 $175,000 $6,037 3.31%
    Gallup, NM (FHA|USDA|VA) 2 $330,000 $165,000 $6,083 3.31%
    Del Rio, TX (FHA|USDA|VA) 1 $265,000 $265,000 $11,383 3.13%
    TUCSON, AZ (FHA|USDA|VA) 1 $235,000 $235,000 $13,976 2.50%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $165,000 $165,000 $7,029 4.63%
    FORT COLLINS, CO (FHA|USDA|VA) 1 $165,000 $165,000 $3,942 3.88%
    Portales, NM (FHA|USDA|VA) 2 $150,000 $75,000 $6,391 4.50%
    Grants, NM (FHA|USDA|VA) 1 $85,000 $85,000 $3,541 4.25%
    ODESSA, TX (FHA|USDA|VA) 1 $55,000 $55,000 $3,296 5.13%
    Legacy Mortgage's top markets include Albuquerque, Santa Fe, Farmington, San Angelo, and El Paso among others.

    Their top states include:
  • New Mexico (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)

    • 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.

    GECU
    Similarity Rank: 118
    EVOLVE
    Similarity Rank: 126
    RIO GRANDE
    Similarity Rank: 135
    SANDIA LABORATORY
    Similarity Rank: 244
    WESTSTAR MORTGAGE CORPORATION
    Similarity Rank: 299
    EL PASO AREA TEACHERS
    Similarity Rank: 364
    First Financial Credit Union
    Similarity Rank: 429
    White Sands Federal Credit Union
    Similarity Rank: 450
    Pioneer Bank
    Similarity Rank: 525
    PATRIOT MORTGAGE COMPANY
    Similarity Rank: 664

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,567 $307,745,000 $196,391 $4,255 3.56%
    FHA 469 $88,275,000 $188,220 $7,429 3.41%
    VA 150 $41,940,000 $279,600 $8,598 3.07%
    USDA 6 $1,310,000 $218,333 $5,911 3.04%

    For 2020, Legacy Mortgage's most frequently originated type of loan was Conventional, with 1,567 originations. Their 2nd most popular type was FHA, with 469 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,498 $280,620,000 $187,330 $5,699 3.63%
    Refi 584 $132,930,000 $227,620 $4,299 3.15%
    Cash Out Refi 110 $25,720,000 $233,818 $5,872 3.42%

    For 2020, Legacy Mortgage's most frequently cited loan purpose was Home Purchase, with 1,498 originations. The 2nd most popular reason was Refi, with 584 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,923 $393,625,000 $204,693 $5,426 3.66%
    15 Year 200 $30,920,000 $154,600 $4,025 1.97%
    20 Year 53 $11,885,000 $224,245 $3,927 3.23%
    Other 10 $2,130,000 $213,000 $4,292 3.05%
    10 Year 6 $710,000 $118,333 $3,255 2.92%

    For 2020, Legacy Mortgage's most frequently cited loan duration was 30 Year, with 1,923 originations. The 2nd most popular length was 15 Year, with 200 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 837 $188,255,000 $224,916
    $2k-3k 731 $148,075,000 $202,565
    $<1k 293 $3,185,000 $10,870
    $3k-4k 173 $45,695,000 $264,133
    $4k-5k 79 $22,465,000 $284,367
    $5k+ 77 $31,375,000 $407,468

    Legacy Mortgage's average total fees were $5,426, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 837 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,160 $261,280,000 $225,241
    2.5-3% 545 $130,955,000 $240,284
    5-6% 227 $2,115,000 $9,317
    4-5% 139 $30,855,000 $221,978
    <2.5% 121 $14,065,000 $116,240

    During 2020, Legacy Mortgage's average interest rate for loans was 3.66%, while their most frequently originated rate bucket for loans was 3-4%, with 1,160 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 863 $233,045,000 $270,041 $5,775 3.26%
    $100k-200k 848 $134,630,000 $158,762 $4,744 3.35%
    $100,000 or less 351 $6,915,000 $19,701 $2,562 4.46%
    $400k-600k 118 $54,830,000 $464,661 $6,475 3.22%
    $600k-1MM 10 $7,800,000 $780,000 $14,227 3.98%
    $1MM+ 2 $2,050,000 $1,025,000 $12,578 3.75%

    2020 saw Legacy Mortgage place emphasis on $200k-400k loans with 863 originations, totaling $233,045,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 677 $113,465,000 $167,600 $5,230 3.43%
    $50k or less 568 $70,390,000 $123,926 $4,677 3.91%
    $100k-150k 358 $95,240,000 $266,034 $5,359 3.31%
    $75k-100k 305 $65,615,000 $215,131 $5,595 3.20%
    $150k-250k 210 $67,440,000 $321,143 $5,575 3.30%
    $250k+ 67 $25,245,000 $376,791 $6,458 3.42%

    Legacy Mortgage lent most frequently to those with incomes in the $50k-75k range, with 677 originations. The second most popular income band? $50k or less, with 568 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 401 $92,735,000 $231,259 $4,846 3.31%
    30-36% 352 $77,640,000 $220,568 $5,247 3.39%
    50-60% 194 $27,780,000 $143,196 $7,823 3.76%
    <20% 139 $32,105,000 $230,971 $4,316 3.18%
    46% 89 $16,715,000 $187,809 $5,621 3.55%
    41% 89 $16,765,000 $188,371 $4,775 3.45%
    39% 89 $16,075,000 $180,618 $5,020 3.62%
    44% 84 $16,550,000 $197,024 $6,261 3.52%
    42% 82 $14,770,000 $180,122 $4,780 3.71%
    37% 80 $15,440,000 $193,000 $5,206 3.83%
    40% 80 $16,410,000 $205,125 $4,897 3.51%
    49% 79 $12,935,000 $163,734 $5,640 3.77%
    43% 77 $13,265,000 $172,273 $5,484 3.74%
    47% 69 $13,485,000 $195,435 $5,903 3.59%
    38% 68 $14,430,000 $212,206 $5,171 3.55%
    36% 68 $12,390,000 $182,206 $4,604 3.43%
    48% 60 $10,930,000 $182,167 $5,694 3.40%
    45% 52 $8,950,000 $172,115 $5,399 3.67%
    >60% 6 $1,490,000 $248,333 $10,246 3.60%

    Legacy Mortgage lent most frequently to those with DTI ratios of 20-30%, with 401 originations. The next most common DTI ratio? 30-36%, with 352 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,717 $348,195,000 $202,793 $5,218 3.47%
    Not provided 290 $58,330,000 $201,138 $5,213 3.51%
    American Indian 98 $14,010,000 $142,959 $6,236 3.80%
    Asian 52 $11,160,000 $214,615 $5,308 3.31%
    Black 32 $6,860,000 $214,375 $5,988 3.53%
    Asian Indian 1 $285,000 $285,000 $4,028 3.38%
    Native Hawaiian or Islander 1 $225,000 $225,000 $12,078 3.75%
    Other Asian 1 $205,000 $205,000 $3,039 3.63%

    Approval Rates

    Total approvals of all applications
    95.79%

    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 origination
    76.78%

    Legacy Mortgage has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    100.0 2 $10,000 $5,000
    NA 2,190 $439,260,000 $200,575

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 45 $4,725,000 $105,000
    Single Family (1-4 Units):Site-Built 2,147 $434,545,000 $202,396

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 36 $5,420,000 $150,556 $3,539 3.09%
    40-60% 134 $26,090,000 $194,701 $3,862 3.18%
    60-80% 548 $133,510,000 $243,631 $4,545 3.29%
    80-100% 1,153 $261,905,000 $227,151 $5,772 3.36%
    Over 100% 31 $9,205,000 $296,935 $14,378 3.04%
    Under 20% 285 $1,865,000 $6,544 $476 4.65%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    LEXISNEXIS Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    LEXISNEXIS Conventional home mortgage Trouble during payment process 1 50.0%