Legend Lending Corporation Mortgage Rates, Fees & Info

HOUSTON, TX

LEI: 549300QCYEU2QLIWN517

Tax ID: 20-8157645

1 stars - Updated: 4/14/24 - out of 5 stars, based on 35 reviews

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

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Mortgage Data

Review & Overview

Legend Lending Corporation is a smaller mortgage company specializing in Home Purchase loans. Legend Lending Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Houston, Tampa, Charlotte, Austin, and Corpus Christi among others. We have data for 87 markets. (Some data included below & more in-depth data is available with an active subscription.)

Legend Lending Corporation 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. Legend Lending Corporation is typically a high fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.78% 4/14/24
30 Year Conventional Refi 6.06% 4/14/24
30 Year Cash-out Refi 6.61% 4/14/24
30 Year FHA Purchase 7.48% 4/14/24
30 Year FHA Refi 7.44% 4/14/24
30 Year VA Purchase 6.45% 4/14/24
30 Year USDA Purchase 7.06% 4/14/24
15 Year Conventional Purchase 6.23% 4/14/24
15 Year Conventional Refi 5.95% 4/14/24
15 Year Cash-out Refi 5.95% 4/14/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Legend Lending Corporation Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Legend Lending Corporation. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

1,196

Origination Dollar Volume (All Markets)

$353,850,000

Awards

LEGEND LENDING CORPORATION 30 Year Conventional Loans silver
Show all (1) awards

Relative Rate

Legend Lending Corporation's average 30 year fixed mortgage rate was 6.75%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.27%.

Relative Fees (Closing Costs)

Legend Lending Corporation's average total fees/closing costs for a 30 year fixed rate mortgage were $13,185.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 355 $109,515,000 $308,493 $11,894 6.88%
Outside of Metro Areas 227 $69,545,000 $306,366 $13,417 7.09%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 114 $39,960,000 $350,526 $12,795 7.08%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 73 $22,695,000 $310,890 $11,458 7.33%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 30 $14,140,000 $471,333 $13,849 6.52%
CORPUS CHRISTI, TX (FHA|USDA|VA) 44 $10,360,000 $235,455 $11,016 7.26%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 26 $8,000,000 $307,692 $15,374 7.03%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 14 $5,530,000 $395,000 $15,419 6.63%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 27 $5,375,000 $199,074 $10,184 6.75%
FLINT, MI (FHA|USDA|VA) 37 $4,965,000 $134,189 $7,133 7.00%
RICHMOND, VA (FHA|USDA|VA) 19 $4,905,000 $258,158 $12,827 7.08%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 11 $3,965,000 $360,455 $10,539 6.66%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 6 $3,350,000 $558,333 $25,240 6.67%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 9 $3,185,000 $353,889 $9,820 6.82%
BATON ROUGE, LA (FHA|USDA|VA) 15 $3,165,000 $211,000 $10,007 6.72%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 18 $2,740,000 $152,222 $7,405 6.77%
Rockport, TX (FHA|USDA|VA) 7 $2,415,000 $345,000 $13,509 7.13%
COLUMBIA, SC (FHA|USDA|VA) 9 $2,225,000 $247,222 $10,501 6.90%
SAGINAW, MI (FHA|USDA|VA) 12 $2,060,000 $171,667 $8,451 6.70%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 6 $1,800,000 $300,000 $12,500 6.98%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 4 $1,490,000 $372,500 $16,727 6.63%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 3 $1,395,000 $465,000 $24,885 6.71%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 8 $1,280,000 $160,000 $9,562 7.79%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $1,225,000 $408,333 $12,378 8.08%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 4 $1,200,000 $300,000 $12,623 7.56%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $1,185,000 $1,185,000 $56,741 7.00%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 9 $1,155,000 $128,333 $6,146 6.92%
Georgetown, SC (FHA|USDA|VA) 5 $1,155,000 $231,000 $13,027 7.50%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 4 $1,130,000 $282,500 $14,404 7.03%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 4 $1,100,000 $275,000 $11,229 7.37%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 3 $1,015,000 $338,333 $14,446 7.08%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 4 $1,000,000 $250,000 $9,937 6.91%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 4 $980,000 $245,000 $10,578 6.72%
Los Alamos, NM (FHA|USDA|VA) 1 $755,000 $755,000 $34,616 6.75%
KNOXVILLE, TN (FHA|USDA|VA) 3 $705,000 $235,000 $13,667 7.33%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $665,000 $665,000 $24,761 6.88%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 4 $600,000 $150,000 $8,785 8.00%
LUBBOCK, TX (FHA|USDA|VA) 1 $585,000 $585,000 $20,136 6.63%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $540,000 $270,000 $13,863 7.25%
Beeville, TX (FHA|USDA|VA) 3 $505,000 $168,333 $8,061 6.79%
WACO, TX (FHA|USDA|VA) 2 $490,000 $245,000 $13,380 7.44%
Jacksonville, TX (FHA|USDA|VA) 1 $485,000 $485,000 $5,461 7.25%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 3 $475,000 $158,333 $8,118 7.62%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $465,000 $465,000 $17,843 6.38%
SPARTANBURG, SC (FHA|USDA|VA) 2 $460,000 $230,000 $11,261 6.63%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $460,000 $230,000 $14,384 6.44%
Mount Pleasant, MI (FHA|USDA|VA) 3 $455,000 $151,667 $7,898 6.88%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 2 $450,000 $225,000 $7,598 7.56%
OKLAHOMA CITY, OK (FHA|USDA|VA) 3 $435,000 $145,000 $8,353 6.96%
Sault Ste. Marie, MI (FHA|USDA|VA) 3 $435,000 $145,000 $5,978 6.71%
Altus, OK (FHA|USDA|VA) 2 $430,000 $215,000 $14,254 6.38%
Nacogdoches, TX (FHA|USDA|VA) 1 $425,000 $425,000 $22,490 7.50%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $415,000 $415,000 $22,249 6.13%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 2 $400,000 $200,000 $3,688 7.25%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $395,000 $395,000 $0 7.50%
Eureka-Arcata, CA (FHA|USDA|VA) 1 $385,000 $385,000 $13,788 6.63%
ALBUQUERQUE, NM (FHA|USDA|VA) 1 $355,000 $355,000 $21,164 6.13%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $335,000 $335,000 $19,089 6.88%
WORCESTER, MA-CT (FHA|USDA|VA) 1 $335,000 $335,000 $18,196 7.25%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $335,000 $335,000 $18,603 6.75%
ASHEVILLE, NC (FHA|USDA|VA) 1 $335,000 $335,000 $8,435 7.25%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 2 $330,000 $165,000 $10,561 6.25%
TULSA, OK (FHA|USDA|VA) 1 $325,000 $325,000 $5,572 7.13%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 2 $310,000 $155,000 $7,421 8.37%
SAN ANGELO, TX (FHA|USDA|VA) 1 $305,000 $305,000 $17,066 6.75%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $305,000 $305,000 $0 8.50%
Norfolk, NE (FHA|USDA|VA) 1 $295,000 $295,000 $6,868 6.75%
BAY CITY, MI (FHA|USDA|VA) 3 $285,000 $95,000 $6,895 7.75%
El Campo, TX (FHA|USDA|VA) 1 $285,000 $285,000 $7,430 6.75%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $275,000 $275,000 $18,393 7.25%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $255,000 $255,000 $9,352 6.25%
LAS CRUCES, NM (FHA|USDA|VA) 1 $235,000 $235,000 $10,789 5.63%
YORK-HANOVER, PA (FHA|USDA|VA) 1 $225,000 $225,000 $8,101 7.25%
DOTHAN, AL (FHA|USDA|VA) 1 $215,000 $215,000 $13,083 5.88%
LAKE CHARLES, LA (FHA|USDA|VA) 1 $205,000 $205,000 $6,687 7.25%
PITTSBURGH, PA (FHA|USDA|VA) 1 $205,000 $205,000 $15,657 6.75%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $195,000 $195,000 $7,187 8.00%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $195,000 $195,000 $4,675 6.50%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $175,000 $175,000 $8,866 5.88%
Shelby, NC (FHA|USDA|VA) 1 $175,000 $175,000 $12,173 5.63%
Albemarle, NC (FHA|USDA|VA) 2 $150,000 $75,000 $4,728 8.56%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $135,000 $135,000 $7,174 8.00%
Duncan, OK (FHA|USDA|VA) 1 $125,000 $125,000 $9,317 6.50%
Alma, MI (FHA|USDA|VA) 1 $105,000 $105,000 $6,693 6.75%
Bogalusa, LA (FHA|USDA|VA) 1 $85,000 $85,000 $2,913 7.63%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $75,000 $75,000 $0 7.50%
Kinston, NC (FHA|USDA|VA) 1 $65,000 $65,000 $5,328 7.38%
Legend Lending Corporation's top markets include Houston, Tampa, Charlotte, Austin, and Corpus Christi among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against LEGEND LENDING CORPORATION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 711 $206,725,000 $290,752 $9,316 7.24%
    FHA 345 $100,125,000 $290,217 $16,528 6.68%
    VA 120 $43,540,000 $362,833 $14,702 6.58%
    USDA 20 $3,460,000 $173,000 $9,486 6.71%

    For 2023, Legend Lending Corporation's most frequently originated type of loan was Conventional, with 711 originations. Their 2nd most popular type was FHA, with 345 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,144 $337,700,000 $295,192 $12,004 7.01%
    Cash Out Refi 39 $10,605,000 $271,923 $12,341 6.88%
    Refi 13 $5,545,000 $426,538 $16,806 6.33%

    For 2023, Legend Lending Corporation's most frequently cited loan purpose was Home Purchase, with 1,144 originations. The 2nd most popular reason was Cash Out Refi, with 39 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,065 $342,725,000 $321,808 $13,185 6.75%
    20 Year 106 $4,250,000 $40,094 $851 9.68%
    15 Year 18 $5,150,000 $286,111 $10,248 6.24%
    Other 6 $1,620,000 $270,000 $17,418 7.00%
    10 Year 1 $105,000 $105,000 $5,230 5.38%

    For 2023, Legend Lending Corporation's most frequently cited loan duration was 30 Year, with 1,065 originations. The 2nd most popular length was 20 Year, with 106 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 745 $236,075,000 $316,879
    $2k-3k 157 $52,405,000 $333,790
    $<1k 142 $13,900,000 $97,887
    $5k+ 50 $23,110,000 $462,200
    $4k-5k 27 $7,815,000 $289,444
    $3k-4k 26 $7,540,000 $290,000

    Legend Lending Corporation's average total fees were $13,185, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 745 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 686 $221,370,000 $322,697
    7-8% 278 $90,180,000 $324,388
    Over 8% 117 $7,485,000 $63,974
    5-6% 104 $33,640,000 $323,462
    4-5% 3 $1,135,000 $378,333

    During 2023, Legend Lending Corporation's average interest rate for loans was 6.75%, while their most frequently originated rate bucket for loans was 6-7%, with 686 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 618 $180,220,000 $291,618 $12,958 6.74%
    $400k-600k 194 $92,440,000 $476,495 $16,594 6.70%
    $100k-200k 187 $29,415,000 $157,299 $8,352 6.74%
    $100,000 or less 136 $3,940,000 $28,971 $1,292 9.23%
    $600k-1MM 55 $38,665,000 $703,000 $21,147 6.79%
    $1MM+ 6 $9,170,000 $1,528,333 $43,532 6.73%

    2023 saw Legend Lending Corporation place emphasis on $200k-400k loans with 618 originations, totaling $180,220,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 320 $93,530,000 $292,281 $12,584 7.02%
    $75k-100k 251 $61,245,000 $244,004 $11,336 7.08%
    $150k-250k 231 $88,585,000 $383,485 $13,947 6.97%
    $50k-75k 214 $41,070,000 $191,916 $9,397 6.96%
    $250k+ 116 $61,120,000 $526,897 $16,411 6.92%
    $50k or less 63 $7,655,000 $121,508 $7,280 7.02%

    Legend Lending Corporation lent most frequently to those with incomes in the $100k-150k range, with 320 originations. The second most popular income band? $75k-100k, with 251 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 162 $50,380,000 $310,988 $16,209 6.77%
    20-30% 158 $44,390,000 $280,949 $9,567 7.22%
    30-36% 142 $44,940,000 $316,479 $11,688 6.82%
    <20% 98 $10,200,000 $104,082 $3,261 8.90%
    49% 77 $25,075,000 $325,649 $13,878 6.78%
    47% 51 $17,505,000 $343,235 $14,145 6.74%
    42% 46 $15,520,000 $337,391 $11,995 6.79%
    38% 46 $12,260,000 $266,522 $11,704 6.74%
    46% 46 $14,550,000 $316,304 $13,864 6.71%
    48% 46 $15,470,000 $336,304 $13,441 6.90%
    45% 44 $14,690,000 $333,864 $13,242 6.72%
    43% 43 $14,375,000 $334,302 $13,063 6.74%
    41% 43 $14,475,000 $336,628 $13,897 6.72%
    39% 39 $10,945,000 $280,641 $11,619 6.70%
    37% 38 $11,090,000 $291,842 $11,381 6.90%
    40% 38 $11,620,000 $305,789 $11,671 6.83%
    36% 35 $10,005,000 $285,857 $11,419 6.86%
    44% 34 $10,810,000 $317,941 $12,436 6.76%
    >60% 9 $4,905,000 $545,000 $21,150 6.75%

    Legend Lending Corporation lent most frequently to those with DTI ratios of 50-60%, with 162 originations. The next most common DTI ratio? 20-30%, with 158 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 875 $259,625,000 $296,714 $11,833 6.97%
    Black 167 $45,775,000 $274,102 $13,318 7.23%
    Not provided 83 $24,335,000 $293,193 $11,976 7.05%
    Asian 54 $19,760,000 $365,926 $12,152 6.79%
    American Indian 12 $2,750,000 $229,167 $11,041 6.94%
    Korean 3 $855,000 $285,000 $11,670 6.21%
    Other Pacific Islander 1 $415,000 $415,000 $6,465 6.38%
    Native Hawaiian or Islander 1 $335,000 $335,000 $13,957 6.50%

    Approval Rates

    Total approvals of all applications
    99.13%

    Legend Lending Corporation 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
    57.27%

    Legend Lending Corporation 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
    NA 1,196 $353,850,000 $295,861

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,196 $353,850,000 $295,861

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 31 $6,195,000 $199,839 $8,981 6.77%
    40-60% 73 $23,165,000 $317,329 $10,508 6.70%
    60-80% 272 $93,860,000 $345,074 $11,981 6.80%
    80-100% 695 $221,755,000 $319,072 $13,869 6.72%
    Over 100% 17 $6,905,000 $406,176 $24,187 6.60%
    Under 20% 108 $1,970,000 $18,241 $346 9.86%