Legacy Mutual Mortgage Interest Rate and Cost Review

Is Legacy Mutual Mortgage a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Legacy Mutual Mortgage to those of other lenders for a comparable set of borrowers. Here is our review of Legacy Mutual Mortgage nationally:

Review ItemLegacy Mutual Mortgage
Interest Ratesimilar to other lenders (+0.01%)
Loan Related Closing Costshigher than other lenders (+$573)
National Rate and Closing Cost Star Rating(3.5)

On average, Legacy Mutual Mortgage’s interest rates were similar to those of other lenders (+0.01%). On the other hand, its loan related closing costs were higher than those of other lenders, with a difference of +$573. Overall, combining interest rates and closing costs we estimate that Legacy Mutual Mortgage tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3.5 out of 5 stars. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Legacy Mutual Mortgage, its website is located at: https://legacymutual.com.

Legacy Mutual Mortgage’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders in your area, click here. In particular, among the cities we track Legacy Mutual Mortgage was most active in:

  1. San Antonio, TX
  2. Austin, TX
  3. Nashville, TN
  4. Fort Worth, TX
  5. Houston, TX

Legacy Mutual Mortgage’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Legacy Mutual Mortgage originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.

Purchase/Refinance:
New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.01%+0.04%+0.04%+0.05%+0.00%
Loan Related Closing Cost Difference+$710+$377+$170+$56+$523
Cost Adjusted Rate Difference+0.06%+0.06%+0.04%+0.05%+0.02%
National Star Rating(3)(3)(3.5)(3)(3.5)
Refinance MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.05%-0.04%+0.02%-0.01%+0.02%
Loan Related Closing Cost Difference+$571+$474+$43+$66+$179
Cost Adjusted Rate Difference-0.01%-0.01%+0.02%-0.00%+0.03%
Average Star Rating(3.5)(3.5)(3.5)(3.5)(3.5)

As a summary, Legacy Mutual Mortgage is similar to other lenders for Jumbo and VA purchase mortgages. It is more expensive than other lenders for Conforming, FHA and USDA purchase mortgages. For refinancing, Legacy Mutual Mortgage is similar to other lenders for Conforming, FHA, Jumbo, USDA and VA mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about Legacy Mutual Mortgage:

Registered name: Legacy Mutual Mortgage
Registered city and state: San Antonio, TX, 78231
Regulator: Office of the Comptroller of the Currency (OCC)
Top holder: CROCKETT COUNTY NATIONAL BANCSHARES, INC

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Legacy Mutual Mortgage’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 commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.