Legend Lending Corporation Mortgage Rates, Fees & Info

HOUSTON, TX

LEI: 549300QCYEU2QLIWN517

Tax ID: 20-8157645

2.2 stars - out of 5 stars, based on 44 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Legend Lending Corporation is a smaller mortgage company specializing in loans. Legend Lending Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Houston, Austin, Tampa, San Antonio, and Corpus Christi among others. We have data for 42 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 about average 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 6.63% 1/29/23
    30 Year Conventional Refi 6.46% 1/29/23
    30 Year Cash-out Refi 6.74% 1/29/23
    30 Year FHA Purchase 7.57% 1/29/23
    30 Year FHA Refi 7.09% 1/29/23
    30 Year VA Purchase 6.58% 1/29/23
    30 Year VA Refi 6.09% 1/29/23
    15 Year Conventional Purchase 6.02% 1/29/23
    15 Year Conventional Refi 5.97% 1/29/23
    15 Year Cash-out Refi 5.97% 1/29/23
    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.


    Originations

    1,896

    Origination Dollar Volume (All Markets)

    $600,790,000

    Awards

    LEGEND LENDING CORPORATION FHA Loans bronze LEGEND LENDING CORPORATION FHA Loans silver LEGEND LENDING CORPORATION FHA Loans gold
    Show all (3) awards

    Relative Rate

    Legend Lending Corporation's average 30 year fixed mortgage rate was 3.21%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of 0.06%.

    Relative Fees (Closing Costs)

    Legend Lending Corporation's average total fees/closing costs for a 30 year fixed rate mortgage were $7,374.

    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 $4,750.

    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) 798 $245,660,000 $307,845 $7,124 3.11%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 545 $190,725,000 $349,954 $5,997 3.11%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 301 $92,215,000 $306,362 $8,732 3.26%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 50 $12,610,000 $252,200 $5,556 3.17%
    CORPUS CHRISTI, TX (FHA|USDA|VA) 34 $9,490,000 $279,118 $5,781 3.23%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 31 $9,385,000 $302,742 $10,624 3.25%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 28 $8,950,000 $319,643 $6,661 3.10%
    Outside of Metro Areas 22 $5,430,000 $246,818 $7,877 3.15%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 15 $4,465,000 $297,667 $7,961 3.20%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 9 $2,725,000 $302,778 $5,062 3.10%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 7 $2,225,000 $317,857 $15,810 3.16%
    PUNTA GORDA, FL (FHA|USDA|VA) 8 $2,030,000 $253,750 $6,827 3.31%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $1,340,000 $670,000 $17,102 3.25%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 3 $1,215,000 $405,000 $11,790 3.38%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $900,000 $450,000 $6,943 2.69%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 2 $890,000 $445,000 $24,127 2.94%
    Brownwood, TX (FHA|USDA|VA) 2 $870,000 $435,000 $18,694 3.44%
    OCALA, FL (FHA|USDA|VA) 2 $820,000 $410,000 $8,644 3.38%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $770,000 $385,000 $6,743 2.88%
    MIDLAND, TX (FHA|USDA|VA) 2 $760,000 $380,000 $4,620 2.88%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 3 $735,000 $245,000 $9,926 3.04%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 3 $725,000 $241,667 $6,536 2.83%
    El Campo, TX (FHA|USDA|VA) 3 $635,000 $211,667 $5,482 2.75%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $580,000 $290,000 $6,755 3.13%
    Key West, FL (FHA|USDA|VA) 1 $545,000 $545,000 $12,039 2.75%
    Brenham, TX (FHA|USDA|VA) 2 $490,000 $245,000 $3,801 2.93%
    FORT COLLINS, CO (FHA|USDA|VA) 1 $375,000 $375,000 $2,337 3.38%
    Huntsville, TX (FHA|USDA|VA) 2 $360,000 $180,000 $4,007 3.38%
    WACO, TX (FHA|USDA|VA) 1 $315,000 $315,000 $5,021 3.50%
    MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 1 $285,000 $285,000 $7,566 3.50%
    Fredericksburg, TX (FHA|USDA|VA) 1 $255,000 $255,000 $5,235 2.63%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $245,000 $245,000 $9,964 3.50%
    TALLAHASSEE, FL (FHA|USDA|VA) 1 $235,000 $235,000 $13,672 3.25%
    LONGVIEW, TX (FHA|USDA|VA) 1 $215,000 $215,000 $2,646 2.75%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $215,000 $215,000 $7,231 3.00%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $195,000 $195,000 $7,111 3.38%
    BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 1 $185,000 $185,000 $4,721 2.50%
    EL PASO, TX (FHA|USDA|VA) 1 $175,000 $175,000 $4,045 2.99%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $155,000 $155,000 $4,561 3.50%
    WICHITA FALLS, TX (FHA|USDA|VA) 1 $155,000 $155,000 $4,311 3.38%
    LUBBOCK, TX (FHA|USDA|VA) 1 $125,000 $125,000 $3,028 2.75%
    Kingsville, TX (FHA|USDA|VA) 1 $115,000 $115,000 $4,216 3.00%
    Legend Lending Corporation's top markets include Houston, Austin, Tampa, San Antonio, and Corpus Christi among others.

    Their top states include:
  • Texas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Pennsylvania (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.

    AMOCO
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,693 $539,315,000 $318,556 $7,047 3.14%
    FHA 131 $35,875,000 $273,855 $7,150 3.20%
    VA 72 $25,600,000 $355,556 $8,599 3.02%

    For 2021, Legend Lending Corporation's most frequently originated type of loan was Conventional, with 1,693 originations. Their 2nd most popular type was FHA, with 131 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,279 $416,105,000 $325,336 $8,232 3.18%
    Refi 343 $101,125,000 $294,825 $4,220 2.87%
    Cash Out Refi 274 $83,560,000 $304,964 $5,521 3.30%

    For 2021, Legend Lending Corporation's most frequently cited loan purpose was Home Purchase, with 1,279 originations. The 2nd most popular reason was Refi, with 343 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,666 $538,290,000 $323,103 $7,374 3.21%
    15 Year 183 $49,755,000 $271,885 $5,415 2.60%
    20 Year 24 $6,750,000 $281,250 $5,019 2.92%
    Other 18 $4,950,000 $275,000 $3,883 2.99%
    10 Year 5 $1,045,000 $209,000 $4,499 2.48%

    For 2021, Legend Lending Corporation's most frequently cited loan duration was 30 Year, with 1,666 originations. The 2nd most popular length was 15 Year, with 183 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,416 $440,450,000 $311,052
    $<1k 312 $107,740,000 $345,321
    $2k-3k 82 $23,850,000 $290,854
    $3k-4k 47 $13,725,000 $292,021
    $5k+ 16 $7,180,000 $448,750
    $4k-5k 15 $5,695,000 $379,667

    Legend Lending Corporation's average total fees were $7,374, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,416 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,032 $328,550,000 $318,362
    2.5-3% 687 $221,075,000 $321,798
    <2.5% 139 $42,055,000 $302,554
    4-5% 37 $8,935,000 $241,486
    6-7% 1 $175,000 $175,000

    During 2021, Legend Lending Corporation's average interest rate for loans was 3.21%, while their most frequently originated rate bucket for loans was 3-4%, with 1,032 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,100 $319,550,000 $290,500 $6,734 3.14%
    $400k-600k 438 $213,790,000 $488,105 $8,639 3.09%
    $100k-200k 319 $51,805,000 $162,398 $5,605 3.20%
    $100,000 or less 19 $1,515,000 $79,737 $4,504 3.34%
    $600k-1MM 18 $11,930,000 $662,778 $16,585 3.38%
    $1MM+ 2 $2,200,000 $1,100,000 $59,362 3.13%

    2021 saw Legend Lending Corporation place emphasis on $200k-400k loans with 1,100 originations, totaling $319,550,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 553 $178,875,000 $323,463 $6,991 3.13%
    $150k-250k 487 $179,545,000 $368,676 $7,532 3.13%
    $50k-75k 278 $67,370,000 $242,338 $6,569 3.19%
    $75k-100k 269 $75,005,000 $278,829 $6,726 3.14%
    $250k+ 209 $81,395,000 $389,450 $8,264 3.14%
    $50k or less 95 $17,215,000 $181,211 $5,994 3.17%

    Legend Lending Corporation lent most frequently to those with incomes in the $100k-150k range, with 553 originations. The second most popular income band? $150k-250k, with 487 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 370 $115,720,000 $312,757 $6,832 3.06%
    30-36% 353 $113,045,000 $320,241 $6,941 3.11%
    <20% 136 $39,700,000 $291,912 $6,302 3.11%
    44% 88 $29,990,000 $340,795 $7,480 3.23%
    43% 88 $28,510,000 $323,977 $7,536 3.16%
    39% 85 $26,075,000 $306,765 $6,454 3.16%
    40% 83 $28,515,000 $343,554 $8,777 3.20%
    50-60% 78 $23,940,000 $306,923 $7,880 3.17%
    42% 75 $24,025,000 $320,333 $6,943 3.17%
    41% 74 $23,470,000 $317,162 $7,668 3.19%
    38% 72 $23,840,000 $331,111 $7,243 3.13%
    36% 62 $18,800,000 $303,226 $7,065 3.19%
    37% 61 $19,695,000 $322,869 $7,326 3.20%
    47% 60 $18,590,000 $309,833 $7,489 3.18%
    49% 58 $18,220,000 $314,138 $6,730 3.27%
    45% 57 $19,055,000 $334,298 $7,454 3.15%
    48% 52 $15,900,000 $305,769 $7,450 3.22%
    46% 37 $11,245,000 $303,919 $6,239 3.23%
    >60% 7 $2,455,000 $350,714 $9,168 2.96%

    Legend Lending Corporation lent most frequently to those with DTI ratios of 20-30%, with 370 originations. The next most common DTI ratio? 30-36%, with 353 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,278 $396,410,000 $310,180 $7,319 3.14%
    Not provided 288 $98,470,000 $341,910 $6,547 3.11%
    Asian 263 $85,295,000 $324,316 $6,593 3.17%
    Black 50 $15,520,000 $310,400 $7,501 3.18%
    American Indian 14 $4,250,000 $303,571 $8,627 3.70%
    Native Hawaiian or Islander 3 $845,000 $281,667 $4,857 2.91%

    Approval Rates

    Total approvals of all applications
    99.30%

    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
    80.80%

    Legend Lending Corporation has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,896 $600,790,000 $316,872

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,896 $600,790,000 $316,872

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 65 $14,915,000 $229,462 $5,951 2.94%
    40-60% 259 $80,325,000 $310,135 $6,014 3.01%
    60-80% 827 $261,335,000 $316,004 $7,091 3.20%
    80-100% 730 $239,330,000 $327,849 $7,586 3.14%
    Over 100% 10 $3,840,000 $384,000 $11,253 3.01%
    Under 20% 5 $1,045,000 $209,000 $5,473 3.45%