Legacy Community Federal Credit Union Mortgage Rates, Fees & Info

BIRMINGHAM, AL

LEI: 5493006JU3IPG0E80D85

Tax ID: 63-0363853

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

Review & Overview

Legacy Community Federal Credit Union is a smaller credit union specializing in Cash Out 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, Cullman, Panama City, Talladega, and Tuscaloosa 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 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

117

Origination Dollar Volume (All Markets)

$16,775,000

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)	108	$15,510,000	$143,611	$0	0.00%
Cullman, AL (FHA\|USDA\|VA)	2	$490,000	$245,000	$0	0.00%
PANAMA CITY, FL (FHA\|USDA\|VA)	1	$205,000	$205,000	$0	0.00%
Talladega-Sylacauga, AL (FHA\|USDA\|VA)	1	$195,000	$195,000	$0	0.00%
TUSCALOOSA, AL (FHA\|USDA\|VA)	2	$190,000	$95,000	$0	0.00%
Jasper, AL (FHA\|USDA\|VA)	1	$75,000	$75,000	$0	0.00%
LaGrange, GA-AL (FHA\|USDA\|VA)	1	$55,000	$55,000	$0	0.00%
Outside of Metro Areas	1	$55,000	$55,000	$0	0.00%

Legacy Community Federal Credit Union's top markets include Birmingham, Cullman, Panama City, Talladega, and Tuscaloosa among others.

Their top states include:

Alabama (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	117	$16,775,000	$143,376	$0	0.00%

For 2022, Legacy Community Federal Credit Union's most frequently originated type of loan was Conventional, with 117 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Cash Out Refi	68	$6,770,000	$99,559	$0	0.00%
Home Purchase	31	$7,265,000	$234,355	$0	0.00%
Refi	14	$2,400,000	$171,429	$0	0.00%
Home Improvement	4	$340,000	$85,000	$0	0.00%

For 2022, Legacy Community Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 68 originations. The 2nd most popular reason was Home Purchase, with 31 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	117	$16,775,000	$143,376	$0	0.00%

For 2022, Legacy Community Federal Credit Union's most frequently cited loan duration was Other, with 117 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	56	$2,990,000	$53,393	$0	0.00%
$100k-200k	31	$4,385,000	$141,452	$0	0.00%
$200k-400k	26	$7,020,000	$270,000	$0	0.00%
$400k-600k	2	$910,000	$455,000	$0	0.00%
$600k-1MM	2	$1,470,000	$735,000	$0	0.00%

2022 saw Legacy Community Federal Credit Union place emphasis on $100,000 or less loans with 56 originations, totaling $2,990,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	32	$4,970,000	$155,313	$0	0.00%
$75k-100k	27	$3,115,000	$115,370	$0	0.00%
$50k-75k	21	$2,325,000	$110,714	$0	0.00%
$150k-250k	17	$3,415,000	$200,882	$0	0.00%
$50k or less	13	$895,000	$68,846	$0	0.00%
$250k+	7	$2,055,000	$293,571	$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? $75k-100k, with 27 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	117	$16,775,000	$143,376	$0	0.00%

Legacy Community Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 117 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	73	$11,265,000	$154,315	$0	0.00%
Not provided	22	$2,940,000	$133,636	$0	0.00%
Black	19	$2,165,000	$113,947	$0	0.00%
American Indian	1	$205,000	$205,000	$0	0.00%
Asian	2	$200,000	$100,000	$0	0.00%

Approval Rates

Total approvals of all applications
82.95%

Legacy Community Federal Credit Union has a below average approval rate.

Pick Rate

Approvals leading to origination
75.21%

Legacy Community Federal Credit Union has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	117	$16,775,000	$143,376

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	117	$16,775,000	$143,376