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 and Refi 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, Houston, Dallas, Joplin, and Little Rock 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
175Origination Dollar Volume (All Markets)
$55,305,000Top 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) | 154 | $50,190,000 | $325,909 | $0 | 0.00% |
| Outside of Metro Areas | 15 | $3,885,000 | $259,000 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| JOPLIN, MO (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| FORT SMITH, AR-OK (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 171 | $53,745,000 | $314,298 | $0 | 0.00% |
| FHA | 2 | $610,000 | $305,000 | $0 | 0.00% |
| VA | 2 | $950,000 | $475,000 | $0 | 0.00% |
For 2022, Legacy National Bank's most frequently originated type of loan was Conventional, with 171 originations. Their 2nd most popular type was FHA, with 2 originations.
Loan Reason
For 2022, Legacy National Bank's most frequently cited loan purpose was Home Purchase, with 94 originations. The 2nd most popular reason was Refi, with 53 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 175 | $55,305,000 | $316,029 | $0 | 0.00% |
For 2022, Legacy National Bank's most frequently cited loan duration was Other, with 175 originations.
Loan Sizing
2022 saw Legacy National Bank place emphasis on $100k-200k loans with 53 originations, totaling $8,435,000 in origination value.
Applicant Income
Legacy National Bank lent most frequently to those with incomes in the $150k-250k range, with 24 originations. The second most popular income band? $250k+, with 23 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 175 | $55,305,000 | $316,029 | $0 | 0.00% |
Legacy National Bank lent most frequently to those with DTI ratios of Exempt%, with 175 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.30%
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 origination69.14%
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 | 175 | $55,305,000 | $316,029 |