Independent Bank closing costs and rates (2024)
In 2024, Independent Bank originated 666 purchase mortgages at a median interest rate of 6.62% and median total closing costs of $7,393. That ranks #527 nationally by origination volume. For total closing costs among lenders with 500+ originations, Independent Bank ranks #396. That is $652 above the national median of $6,741. Independent Bank is most active in Texas with 557 originations there.
Purchase Originations
666
Ranked #527 nationally
Median Total Costs
$7,393
+9.7% vs national ($6,741)
Median Rate
6.625%
+0.1% vs national (6.620%)
Median Origination
$2,309
Median Lender Credits
$607
Cost Rank (500+ vol.)
#396
among lenders with 500+ originations
Breakdown by loan type
| Loan type | Volume | Median Rate | Median Total Costs | Median Origination |
|---|---|---|---|---|
| conventional | 519 | 6.625% | $6,810 | $2,225 |
| fha | 119 | 6.625% | $12,197 | $3,369 |
| va | 22 | 5.938% | $5,678 | $0 |
Active states
| State | Volume | Median Rate | Median Total Costs | State Rank |
|---|---|---|---|---|
| Texas | 557 | 6.625% | $7,408 | #107 |
| Colorado | 94 | 7.250% | $7,188 | #110 |
| Florida | 3 | 6.375% | $9,271 | — |
| Oklahoma | 3 | 6.500% | $5,533 | — |
| Arkansas | 2 | 6.062% | $3,763 | — |
| Michigan | 2 | 6.125% | $6,311 | — |
| Minnesota | 1 | 7.000% | $6,325 | — |
| Missouri | 1 | 7.500% | $13,447 | — |
| Mississippi | 1 | 6.125% | $11,367 | — |
| Nebraska | 1 | 7.125% | $12,151 | — |
| Wyoming | 1 | 7.375% | $4,869 | — |
Top counties by origination volume
| Rank | Lender | Median Total Costs ↑ | Median Rate ↕ | Median Origination ↕ | Volume ↕ | vs. Median |
|---|---|---|---|---|---|---|
| 1 | $6,305 | 4.500% | — | 110 | −$1,088 | |
| 2 | $6,682 | 6.562% | — | 10 | −$711 | |
| 3 | $6,855 | 5.875% | — | 20 | −$538 | |
| 4 | $6,912 | 6.625% | — | 9 | −$481 | |
| 5 | $7,171 | 5.500% | — | 14 | −$222 | |
| 6 | $7,189 | 7.625% | — | 14 | −$204 | |
| 7 | $7,372 | 7.000% | — | 69 | −$21 | |
| 8 | $7,480 | 7.500% | — | 28 | +$87 | |
| 9 | $7,556 | 7.625% | — | 15 | +$163 | |
| 10 | $7,571 | 6.625% | — | 62 | +$178 | |
| 11 | $7,698 | 7.875% | — | 15 | +$305 | |
| 12 | $7,786 | 7.062% | — | 14 | +$393 | |
| 13 | $8,064 | 6.000% | — | 17 | +$671 | |
| 14 | $8,117 | 6.750% | — | 64 | +$724 | |
| 15 | $8,186 | 6.000% | — | 31 | +$793 | |
| 16 | $8,622 | 6.875% | — | 13 | +$1,229 | |
| 17 | $9,053 | 7.062% | — | 10 | +$1,660 | |
| 18 | $9,090 | 7.125% | — | 31 | +$1,697 | |
| 19 | $10,477 | 6.688% | — | 32 | +$3,084 | |
| 20 | $11,310 | 6.625% | — | 10 | +$3,917 |
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.