Bank Independent closing costs and rates (2024)
In 2024, Bank Independent originated 231 purchase mortgages at a median interest rate of 6.38% and median total closing costs of $4,708. That is $2,033 below the national median of $6,741. Bank Independent is most active in Alabama with 229 originations there.
Purchase Originations
231
Median Total Costs
$4,708
−30.2% vs national ($6,741)
Median Rate
6.375%
−3.7% vs national (6.620%)
Median Origination
$2,912
Median Lender Credits
$51
Breakdown by loan type
| Loan type | Volume | Median Rate | Median Total Costs | Median Origination |
|---|---|---|---|---|
| conventional | 190 | 6.490% | $4,465 | $2,995 |
| fha | 22 | 6.062% | $8,119 | $3,257 |
Active states
Top counties by origination volume
| Rank | Lender | Median Total Costs ↑ | Median Rate ↕ | Median Origination ↕ | Volume ↕ | vs. Median |
|---|---|---|---|---|---|---|
| 1 | $2,323 | 5.190% | — | 1 | −$2,385 | |
| 2 | $3,198 | 6.870% | — | 2 | −$1,510 | |
| 3 | $4,048 | 6.375% | — | 47 | −$660 | |
| 4 | $4,598 | 6.375% | — | 109 | −$110 | |
| 5 | $4,862 | 6.625% | — | 25 | +$154 | |
| 6 | $4,888 | 6.375% | — | 13 | +$180 | |
| 7 | $5,414 | 8.795% | — | 2 | +$706 | |
| 8 | $5,443 | 6.375% | — | 12 | +$735 | |
| 9 | $5,538 | 6.750% | — | 1 | +$830 | |
| 10 | $6,518 | 6.562% | — | 2 | +$1,810 | |
| 11 | $6,756 | 6.250% | — | 12 | +$2,048 | |
| 12 | $6,762 | 6.624% | — | 1 | +$2,054 | |
| 13 | $7,091 | 7.683% | — | 2 | +$2,383 | |
| 14 | $7,638 | 7.490% | — | 1 | +$2,930 | |
| 15 | $7,774 | 6.375% | — | 1 | +$3,066 |
Includes lenders with 1+ purchase originations in top counties. Source: HMDA 2024. Sorted by median total loan costs.
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Data source: HMDA Modified Loan Application Register 2024, published by the Consumer Financial Protection Bureau (CFPB).
Statistics reflect originated first-lien purchase mortgages on owner-occupied principal residences. Medians exclude loans with exempt or unreported fee disclosures. Learn more at ffiec.cfpb.gov.