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, San Angelo, and El Paso among others. We have data for 34 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.31% | 9/1/24 |
| 30 Year Conventional Refi | 6.28% | 9/1/24 |
| 30 Year Cash-out Refi | 6.95% | 9/1/24 |
| 30 Year FHA Purchase | 7.56% | 9/1/24 |
| 30 Year FHA Refi | 6.66% | 9/1/24 |
| 30 Year VA Purchase | 6.54% | 9/1/24 |
| 30 Year VA Refi | 6.50% | 9/1/24 |
| 30 Year USDA Purchase | 7.08% | 9/1/24 |
| 15 Year Conventional Purchase | 6.69% | 9/1/24 |
| 15 Year Conventional Refi | 6.44% | 9/1/24 |
| 15 Year Cash-out Refi | 6.44% | 9/1/24 |
| 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
2,090Origination Dollar Volume (All Markets)
$439,740,000Top 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) | 1,533 | $321,785,000 | $209,905 | $5,497 | 3.33% |
| SANTA FE, NM (FHA|USDA|VA) | 128 | $39,070,000 | $305,234 | $6,162 | 3.41% |
| FARMINGTON, NM (FHA|USDA|VA) | 123 | $19,115,000 | $155,407 | $5,214 | 3.34% |
| SAN ANGELO, TX (FHA|USDA|VA) | 95 | $17,585,000 | $185,105 | $7,079 | 3.51% |
| EL PASO, TX (FHA|USDA|VA) | 72 | $13,270,000 | $184,306 | $6,930 | 3.45% |
| LAS CRUCES, NM (FHA|USDA|VA) | 40 | $7,650,000 | $191,250 | $5,988 | 3.59% |
| Outside of Metro Areas | 18 | $3,200,000 | $177,778 | $5,896 | 3.44% |
| Española, NM (FHA|USDA|VA) | 10 | $2,440,000 | $244,000 | $6,424 | 3.03% |
| Los Alamos, NM (FHA|USDA|VA) | 7 | $2,305,000 | $329,286 | $6,342 | 3.39% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 5 | $1,575,000 | $315,000 | $6,258 | 3.05% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 5 | $1,475,000 | $295,000 | $6,565 | 3.93% |
| Ruidoso, NM (FHA|USDA|VA) | 6 | $1,300,000 | $216,667 | $6,997 | 3.38% |
| Durango, CO (FHA|USDA|VA) | 2 | $900,000 | $450,000 | $7,897 | 3.06% |
| Deming, NM (FHA|USDA|VA) | 10 | $830,000 | $83,000 | $3,251 | 4.15% |
| MIDLAND, TX (FHA|USDA|VA) | 4 | $810,000 | $202,500 | $6,100 | 3.53% |
| Taos, NM (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $5,988 | 3.63% |
| Las Vegas, NM (FHA|USDA|VA) | 4 | $560,000 | $140,000 | $7,429 | 3.91% |
| TUCSON, AZ (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $7,015 | 3.00% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $7,651 | 3.38% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $3,440 | 2.94% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $7,377 | 2.88% |
| Roswell, NM (FHA|USDA|VA) | 4 | $420,000 | $105,000 | $200 | 3.13% |
| Grants, NM (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $8,595 | 3.56% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $7,337 | 3.25% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $5,210 | 3.25% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $4,983 | 2.75% |
| Silver City, NM (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $4,866 | 3.31% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $14,130 | 3.13% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $5,283 | 3.13% |
| WACO, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $5,961 | 3.25% |
| Lamesa, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $6,743 | 3.38% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,942 | 3.25% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $4,733 | 3.75% |
| Gallup, NM (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $4,118 | 3.00% |
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 2021, Legacy Mortgage's most frequently originated type of loan was Conventional, with 1,468 originations. Their 2nd most popular type was FHA, with 458 originations.
Loan Reason
For 2021, Legacy Mortgage's most frequently cited loan purpose was Home Purchase, with 1,593 originations. The 2nd most popular reason was Refi, with 345 originations.
Loan Duration/Length
For 2021, Legacy Mortgage's most frequently cited loan duration was 30 Year, with 1,883 originations. The 2nd most popular length was 15 Year, with 167 originations.
Origination Fees/Closing Costs
Legacy Mortgage's average total fees were $5,828, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 744 originations.
Interest Rates
During 2021, Legacy Mortgage's average interest rate for loans was 3.48%, while their most frequently originated rate bucket for loans was 3-4%, with 1,130 originations.
Loan Sizing
2021 saw Legacy Mortgage place emphasis on $200k-400k loans with 938 originations, totaling $252,440,000 in origination value.
Applicant Income
Legacy Mortgage lent most frequently to those with incomes in the $50k-75k range, with 659 originations. The second most popular income band? $50k or less, with 492 originations.
Applicant Debt to Income Ratio
Legacy Mortgage lent most frequently to those with DTI ratios of 20-30%, with 367 originations. The next most common DTI ratio? 30-36%, with 354 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.64%
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 origination80.29%
Legacy Mortgage has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 44 | $220,000 | $5,000 |
| 100.0 | 1 | $5,000 | $5,000 |
| NA | 2,045 | $439,515,000 | $214,922 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| LEXISNEXIS | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |