Legacy Community Federal Credit Union Mortgage Rates, Fees & Info

BIRMINGHAM, AL

LEI: 5493006JU3IPG0E80D85

Tax ID: 63-0363853

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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

129

Origination Dollar Volume (All Markets)

$24,595,000

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
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%
Legacy Community Federal Credit Union's top markets include Birmingham, Portland, Gadsden, Decatur, and Jasper among others.

Their top states include:
  • Alabama (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)
  • 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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 66 $10,360,000 $156,970 $0 0.00%
    Home Purchase 41 $8,795,000 $214,512 $0 0.00%
    Refi 19 $5,155,000 $271,316 $0 0.00%
    Home Improvement 3 $285,000 $95,000 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 45 $6,835,000 $151,889 $0 0.00%
    $100,000 or less 41 $2,485,000 $60,610 $0 0.00%
    $200k-400k 36 $10,610,000 $294,722 $0 0.00%
    $400k-600k 4 $1,940,000 $485,000 $0 0.00%
    $600k-1MM 2 $1,390,000 $695,000 $0 0.00%
    $1MM+ 1 $1,335,000 $1,335,000 $0 0.00%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 32 $5,590,000 $174,688 $0 0.00%
    $50k-75k 26 $3,230,000 $124,231 $0 0.00%
    $75k-100k 23 $3,845,000 $167,174 $0 0.00%
    $50k or less 21 $1,975,000 $94,048 $0 0.00%
    $150k-250k 14 $3,880,000 $277,143 $0 0.00%
    $250k+ 13 $6,075,000 $467,308 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 70 $14,630,000 $209,000 $0 0.00%
    Not provided 40 $7,070,000 $176,750 $0 0.00%
    Black 15 $2,055,000 $137,000 $0 0.00%
    Asian 4 $840,000 $210,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.64%

    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 origination
    88.37%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $25,000 $25,000
    Single Family (1-4 Units):Site-Built 128 $24,570,000 $191,953