Legend Lending Corporation Mortgage Rates, Fees & Info
HOUSTON, TXLEI: 549300QCYEU2QLIWN517
Tax ID: 20-8157645
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Mortgage Data
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.
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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
1,896Origination Dollar Volume (All Markets)
$600,790,000Awards
LEGEND LENDING CORPORATION - 2021
LEGEND LENDING CORPORATION is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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% |
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
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
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
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
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
2021 saw Legend Lending Corporation place emphasis on $200k-400k loans with 1,100 originations, totaling $319,550,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications99.30%
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 origination80.80%
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 |