May 20, 2013
At a glance
Legends Bank offers a full line of loans for personal and household use. These include loans to purchase new and used cars, trucks, recreational vehicles, ATVs, boats, personal watercraft, furniture and other household items.
All consumer loans are offered at competitive rates. The rate of interest charged will vary, depending on the general interest rate environment, the specific type of collateral offered, the term desired, and the loan to value ratio, among other things.
We pride ourselves on our ability to respond to loan requests quickly, generally the same day as we receive the application. We are able to do this because our loan officers have the authority to make decisions on most consumer loan applications without going through a senior officer or a loan committee for approval. Once a loan is approved, we are generally able to close the loan at the customer's earliest convenience.
In order to make our loans as competitive as possible, we only charge for our actual out of pocket expenses, such as title fees and filing fees and certain documentation fees. We do not impose fees often charged by other banks, such as application and underwriting fees.
Real Estate Loans
At a glance
Legends Bank offers a full line of real estate mortgages, from "in house" low cost mortgages with a great deal of built-in flexibility, to conventional fixed and adjustable rate home loans. We also offer construction financing at very competitive rates and without many of the fees generally charged by other banks.
Our "in house" product is especially popular for properties which do not meet uniform property standards for conventional mortgages, such as rural properties with larger acreage, and mobile homes unattached to the underlying real estate. It is also popular for borrowers who may not meet conventional mortgage underwriting standards, because of past credit status or other reasons, or who want additional flexibility in loan terms such as other than monthly payments. Conventional mortgages offer customers an opportunity to purchase properties with lower down payments and longer amortizations than generally available with the "in-house" loan.
Legends Bank's "in-house" mortgage loans generally have lower fees than conventional mortgages, with the bank charging only for certain document preparation fees and out of pocket expenses such as filing fees and title insurance. The borrower typically saves paying for an outside, independent appraisal, since those are usually required only when the loan amount exceeds $250,000. Legends Bank also can attach a type of home equity feature to these loans, allowing the customer to borrow additional amounts against their property in the future without additional fees. Certain borrowers may qualify for special programs such as first time homebuyer programs and low to moderate income programs offered in conjunction with the Missouri Housing Development Commission. Both fixed and adjustable rate mortgages are available. Special programs are also available for those who may not qualify for standard conventional mortgages. Legends Bank, member FDIC, is an equal housing lender.
- Consumer Loan Application - non residential (size 638KB)
- Home Loan Application (size 761KB)
- Personal Financial Statement (size 465KB)
- Business Financial Statement (size 570KB)
- Agricultural Financial Statement (size 701KB)
Applications are in pdf format and require Adobe Acrobat to open. If you do not have the free Adobe Acrobat Reader you can download it here or click on the icon.