We compare mortgage interest rate and loan related closing costs at Landmark Bank National Association with other lenders for mortgages with similar borrower characteristics:
Interest Rate: lower than average (-0.08%)
Loan Related Closing Costs: similar to average (-$132)
Assessment: this lender tends to be a cheap lender.
This scoreboard is based on data reported to FFIEC. In the data, Landmark Bank National Association originated 1570 mortgages, a national market share of 0.0%. It was most active in MO (0.7% market share), OK (0.3% market share), and TX (0.1% market share).
On average, Landmark Bank National Association’s interest rates were lower than those of comparable mortgages at other lenders (-0.08%).1The comparable mortgages control for Landmark Bank National Association’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $3276, which was similar to those of comparable mortgages at $3409, with a difference of -$132. Overall, we estimate that Landmark Bank National Association tends to be an cheap lender, with a cost-adjusted-rate difference of -0.10% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with Landmark Bank National Association.
Landmark Bank National Association originated Conforming and VA mortgages for new home purchases. It also originated Conforming mortgages for refinances. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:
Home Purchase Mortgages from Landmark Bank National Association compared to other lenders
|Interest Rate Difference||-0.09%||-0.15%|
|Loan related Closing Cost Difference||-$127||+$15|
|Cost Adjusted Rate Difference||-0.10%||-0.15%|
Based on the table above, Landmark Bank National Association is cheap for Conforming and VA purchase mortgages.
Mortgage Refinancing from Landmark Bank National Association compared to other lenders
|Interest Rate Difference||-0.06%|
|Loan Related Closing Cost Difference||-$175|
|Cost Adjusted Rate Difference||-0.08%|
Based on the table above, Landmark Bank National Association is cheap for Conforming mortgage refinance.
Other information about Landmark Bank National Association:
Regulator: Federal Deposit Insurance Corporation (FDIC)
Top holder: LANDRUM COMPANY
Registered city and state: COLUMBIA, MO, 65201