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We want to make your home financing as easy as it can be. With Legacy Mortgage, you can relax while we handle the details.
You can get a loan before you even select a home. A Legacy home mortgage specialist can perform a pre-qualification or pre-approval so that you'll have a good idea of how much you can afford. Once you've found a home, and a seller has accepted your offer, you are ready to move to the Application process.
There are no fees or costs to getting pre-qualified, but it is a vital step in the home buying process. Call us today!
Prequalification: This is an overview of your credit profile that is an important step to writing offers for new homes and one we highly recommend. It just means that you have not submitted the documentation that will be required to verify your income, financial statements showing enough assets to close and you have not yet met the underwriting guidelines of the program you are going to select once you find the home of your dreams.
Preapproval: If you have a little more time at the beginning of the process, we always recommend getting Preapproved. A preapproval is the start of the formal application process before you find the property and is more thorough review of your financial position and ability to qualify for a home.
Why get Preapproved for a Mortgage?
Buying a house is one of the biggest decisions you will make in your lifetime. Our goal is to make the process as smooth and hassle-free as we can. Understanding the process will give you the knowledge you need to get started.
You can get a loan before you even select a home. One of our home loan experts can perform a pre-qualification or pre-approval so that you’ll have a good idea of how much you can afford. Once you’ve found a home, and a seller has accepted your offer, you are ready to move to the Application process.
Once you’ve selected a home, your home specialist completes the mortgage application, gathers information about the property you want to buy, and collects personal information, such as income, assets, and employment history. We order a credit report to determine your credit history and credit score. For a complete list of information that you need to provide, see the Application checklist.
Once your application is complete, a loan processor reviews your file and verifies your information. We also order an appraisal of the property.
An underwriter reviews your file and determines whether your loan will be granted and issues the loan approval. The underwriter may request additional information during this review process.
Once the loan is approved, the closing process begins. Our closing department prepares closing documents and sends closing instructions to the title agent. The title agent is responsible for examining the title of the property and working with you for an acceptable closing date. At the closing, you’ll sign papers, pay closing costs, and finalize the transaction. Now it’s time to move into your new home.
Lower Payments*. Consolidate Debt. Pull Cash Out.
*By refinancing your existing loan, the total finance charges may be higher over the life of the loan.
First, start by asking yourself one of these questions.
Has your income increased? Do you need to consolidate debt? Has the equity in your home increased? Do you need money for a major expense? Has your credit rating improved?
If the answer is yes to any of these questions than we encourage you to call one of our home loan experts to give you a refinance evaluation. It costs nothing but could save you thousands of dollars in interest, pay off high balance credit cards, or help pay for college or unexpected expenses.
Knowing your options is the most import part of the refinance decision so Call us today!
As you pay down your mortgage or as home values increase over time, a cash-out refinance allows you to use a portion of your equity and turn it into cash. The great news is you can use that cash however you want. Home improvements, unexpected expenses, college tuition or just to check a destination off your bucket list.
When is the best time to turn that equity into your house and use it as you see fit? That answer is up to you and can be used to fit your current needs.
Some of the more chosen reasons for utilizing a cash-out refinance are to:
A renovation loan will let you do almost anything with your home. Some loans are used on smaller projects like ordinary repairs or cosmetic updates. These types of renovations loans typically don’t have minimum loan requirements for the repairs or upgrades you want to make to your home. These loans are limited to non-structural repairs with maximum loan amounts around $30,000.
With these types of loan, you can improve things like:
Need to do more extensive renovation? We got you covered!
We have other programs that are specifically intended to make major repairs or changes to your home. These will have a minimum loan amount but the good news is you can borrow up to the value of your property plus repairs/renovation. Here are some examples:
A fixed-rate mortgage offers an interest rate that is steady throughout the life of the loan. Fixed-rate mortgages offer the security of always knowing exactly what your monthly loan payment will be. The interest on ARMs can fluctuate (up or down) periodically. The interest rate on ARMs offers an opportunity to save on interest costs. However, you are protected from rates getting too high, because a safe ARM has annual and lifetime rate caps, which limit how high your rate may go.
Estimate your monthly mortgage payment using the calculator below. Simply enter the purchase price of the home, loan term, and details about the home loan. Please note that escrow for taxes and insurance is not required for loans with down payments more than 20 percent. Some of this information may be difficult to determine on your own; please contact a mortgage specialist to review the most accurate monthly mortgage payment for the area you are purchasing.
We started with a very simple idea at Legacy Mortgage – Exceed our customers’ expectations. Legacy Mortgage is a member of the Eustis Family of Companies which allows us to focus on our customer with a strong history of helping homeowners.
Our company was established with a mission to fulfill two goals that all great organizations have in common: low staff turnover rate and high percentage of repeat customers. We have repeat customers because we have great people. We are fortunate to have great people because we realize that great people are our value proposition.
Nothing is more important than taking care of our customers.
So, whether you are buying your first home or doing a refinance we hope you will give Legacy Mortgage the opportunity to be your lender for life.
We lead by full engagement, we lead by example, we lead by empowering employees. Our leaders help each other reach their full potential Our passion for serving guarantees that we always develop the next generation of leaders to take care of our clients.
As a company, we must always be the driver of change we want to see in the world. The thought process of 'because it has always been done that way' stops at the doors of our office. Instead, we will continuously challenge our process and technology. Always striving to make our clients experience better and providing avenues for our employees to grow.
The needs of our clients are the most important part of our organization. Our learn puts aside the need to be right to make sure we get it right for the client every time. The focus gives us the ability to WOW our clients and turn them into raving fans.
We are a company that welcomes diverse backgrounds and experiences. That diversity will unite us together to allow us to achieve our mission.
Helping clients realize the American dream is our purpose, but we won't stop there. We realize that we have a responsibility to do more. This company will inspire our people to change the world. Our history shows this, and our future will embrace it.
We've been in the mortgage business since 1956 and many of our clients have been coming back again and again since we opened our doors over 60 years ago. They know they can always rely on us for the information and service they expect and deserve. And you can, too.
Regional Manager
Email: stacy@legacymortgagecorp.com
A highly respected leader in the mortgage banking industry, Stacy Hooper has served homebuyers, both locally and nationwide, since the early 1990s. Getting his start as President of Magnolia Home Mortgage, Stacy has made a career out of providing honest and trustworthy service to his customers. Knowing that purchasing a home is, in most cases, the greatest and most important purchase a person will ever make, He treats every borrower with personal and caring service, like a neighbor. In 2009, Citizens Bank and Trust purchased Magnolia Home Mortgage and Stacy was responsible for building a mortgage division for the bank. He was responsible for every aspect of the loan process, from sales to post closing, also creating a warehouse lending division with a nationwide reach. Because Stacy’s true passion is serving customers directly and seeing the positive impact he can make, He opened Legacy Mortgage Services, in 2016. Serving customers throughout Louisiana, He can provide the personal service that has given him the reputation as one of the most reliable lenders in the mortgage industry. Stacy is a proud graduate of Parkway High School and La Tech. He currently lives in Shreveport with his wife of 29 years, Jocelyn Hooper, and their six children. He has made the Shreveport/Bossier City area his home for his entire life.