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, Refi, and Home Purchase loans. Legacy Community Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Birmingham, Auburn, Cookeville, Tuscaloosa, and Jasper among others. We have data for 10 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 an above average pick rate when compared to similar lenders.

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Originations

265

Origination Dollar Volume (All Markets)

$60,715,000

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) 253 $58,445,000 $231,008 $0 0.00%
Outside of Metro Areas 2 $590,000 $295,000 $0 0.00%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 2 $370,000 $185,000 $0 0.00%
Cookeville, TN (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
TUSCALOOSA, AL (FHA|USDA|VA) 2 $290,000 $145,000 $0 0.00%
Jasper, AL (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
GADSDEN, AL (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
MONTGOMERY, AL (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
Legacy Community Federal Credit Union's top markets include Birmingham, Auburn, Cookeville, Tuscaloosa, and Jasper among others.

Their top states include:
  • Alabama (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 265 $60,715,000 $229,113 $0 0.00%

    For 2020, Legacy Community Federal Credit Union's most frequently originated type of loan was Conventional, with 265 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 103 $22,455,000 $218,010 $0 0.00%
    Refi 93 $20,495,000 $220,376 $0 0.00%
    Home Purchase 62 $17,230,000 $277,903 $0 0.00%
    Home Improvement 7 $535,000 $76,429 $0 0.00%

    For 2020, Legacy Community Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 103 originations. The 2nd most popular reason was Refi, with 93 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 265 $60,715,000 $229,113 $0 0.00%

    For 2020, Legacy Community Federal Credit Union's most frequently cited loan duration was Other, with 265 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 100 $14,840,000 $148,400 $0 0.00%
    $200k-400k 93 $25,065,000 $269,516 $0 0.00%
    $100,000 or less 39 $2,725,000 $69,872 $0 0.00%
    $400k-600k 24 $11,350,000 $472,917 $0 0.00%
    $600k-1MM 8 $5,710,000 $713,750 $0 0.00%
    $1MM+ 1 $1,025,000 $1,025,000 $0 0.00%

    2020 saw Legacy Community Federal Credit Union place emphasis on $100k-200k loans with 100 originations, totaling $14,840,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 68 $14,790,000 $217,500 $0 0.00%
    $150k-250k 60 $18,050,000 $300,833 $0 0.00%
    $75k-100k 49 $8,365,000 $170,714 $0 0.00%
    $50k-75k 45 $6,985,000 $155,222 $0 0.00%
    $50k or less 21 $1,665,000 $79,286 $0 0.00%
    $250k+ 18 $10,320,000 $573,333 $0 0.00%

    Legacy Community Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 68 originations. The second most popular income band? $150k-250k, with 60 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 265 $60,715,000 $229,113 $0 0.00%

    Legacy Community Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 265 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 207 $49,585,000 $239,541 $0 0.00%
    Not provided 29 $6,215,000 $214,310 $0 0.00%
    Black 28 $4,300,000 $153,571 $0 0.00%
    Asian Indian 1 $615,000 $615,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.73%

    Legacy Community Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.21%

    Legacy Community Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 265 $60,715,000 $229,113

    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 264 $60,690,000 $229,886