Legacy Community Federal Credit Union Mortgage Rates, Fees & Info
BIRMINGHAM, ALLEI: 5493006JU3IPG0E80D85
Tax ID: 63-0363853
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Legacy Community Federal Credit Union is a smaller credit union specializing in Cash Out Refi, Home Purchase, and Refi loans. Legacy Community Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Birmingham, Portland, Gadsden, Decatur, and Jasper among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Legacy Community Federal Credit Union 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.
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Originations
129Origination Dollar Volume (All Markets)
$24,595,000Top 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 |
|---|---|---|---|---|---|
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 120 | $23,400,000 | $195,000 | $0 | 0.00% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $260,000 | $130,000 | $0 | 0.00% |
| GADSDEN, AL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| DECATUR, AL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| Jasper, AL (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $0 | 0.00% |
| Cullman, AL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 129 | $24,595,000 | $190,659 | $0 | 0.00% |
For 2019, Legacy Community Federal Credit Union's most frequently originated type of loan was Conventional, with 129 originations.
Loan Reason
For 2019, Legacy Community Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 66 originations. The 2nd most popular reason was Home Purchase, with 41 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 129 | $24,595,000 | $190,659 | $0 | 0.00% |
For 2019, Legacy Community Federal Credit Union's most frequently cited loan duration was Other, with 129 originations.
Loan Sizing
2019 saw Legacy Community Federal Credit Union place emphasis on $100k-200k loans with 45 originations, totaling $6,835,000 in origination value.
Applicant Income
Legacy Community Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 32 originations. The second most popular income band? $50k-75k, with 26 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 129 | $24,595,000 | $190,659 | $0 | 0.00% |
Legacy Community Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 129 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.64%
Legacy Community Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination88.37%
Legacy Community Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 129 | $24,595,000 | $190,659 |