Legacy National Bank Mortgage Rates, Fees & Info
Springdale, ARLEI: 549300AR337B2RGP3C69
Tax ID: 20-2282203
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Mortgage Data
Review & Overview
Legacy National Bank is a smaller bank specializing in Home Purchase loans. Legacy National Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Fayetteville, Fort Smith, Kansas City, Houston, and Pine Bluff among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Legacy National Bank 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
123Origination Dollar Volume (All Markets)
$35,405,000Top 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 |
|---|---|---|---|---|---|
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 110 | $31,370,000 | $285,182 | $0 | 0.00% |
| Outside of Metro Areas | 8 | $3,120,000 | $390,000 | $0 | 0.00% |
| FORT SMITH, AR-OK (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| PINE BLUFF, AR (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| TULSA, OK (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 122 | $35,220,000 | $288,689 | $0 | 0.00% |
| FHA | 1 | $185,000 | $185,000 | $0 | 0.00% |
For 2023, Legacy National Bank's most frequently originated type of loan was Conventional, with 122 originations. Their 2nd most popular type was FHA, with 1 originations.
Loan Reason
For 2023, Legacy National Bank's most frequently cited loan purpose was Home Purchase, with 75 originations. The 2nd most popular reason was Refi, with 33 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 123 | $35,405,000 | $287,846 | $0 | 0.00% |
For 2023, Legacy National Bank's most frequently cited loan duration was Other, with 123 originations.
Loan Sizing
2023 saw Legacy National Bank place emphasis on $200k-400k loans with 38 originations, totaling $10,670,000 in origination value.
Applicant Income
Legacy National Bank lent most frequently to those with incomes in the $100k-150k range, with 25 originations. The second most popular income band? $250k+, with 24 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 123 | $35,405,000 | $287,846 | $0 | 0.00% |
Legacy National Bank lent most frequently to those with DTI ratios of Exempt%, with 123 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.70%
Legacy National Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination62.60%
Legacy National Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 123 | $35,405,000 | $287,846 |