Sovereign Bank closing costs and rates (2024)
In 2024, Sovereign Bank originated 305 purchase mortgages at a median interest rate of 6.62% and median total closing costs of $6,578. That is $163 below the national median of $6,741. Sovereign Bank is most active in Oklahoma with 297 originations there.
Purchase Originations
305
Median Total Costs
$6,578
−2.4% vs national ($6,741)
Median Rate
6.625%
+0.1% vs national (6.620%)
Median Origination
$1,672
Median Lender Credits
$550
Breakdown by loan type
| Loan type | Volume | Median Rate | Median Total Costs | Median Origination |
|---|---|---|---|---|
| conventional | 156 | 6.875% | $4,647 | $1,495 |
| fha | 101 | 6.625% | $8,964 | $2,289 |
| va | 47 | 6.250% | $8,440 | $2,458 |
Active states
Top counties by origination volume
| Rank | Lender | Median Total Costs ↑ | Median Rate ↕ | Median Origination ↕ | Volume ↕ | vs. Median |
|---|---|---|---|---|---|---|
| 1 | $3,003 | 6.625% | — | 1 | −$3,575 | |
| 2 | $4,040 | 6.688% | — | 8 | −$2,538 | |
| 3 | $5,064 | 6.625% | — | 23 | −$1,514 | |
| 4 | $5,201 | 7.062% | — | 4 | −$1,377 | |
| 5 | $5,287 | 7.000% | — | 5 | −$1,291 | |
| 6 | $5,408 | 6.250% | — | 1 | −$1,170 | |
| 7 | $5,458 | 6.500% | — | 3 | −$1,120 | |
| 8 | $5,907 | 6.500% | — | 2 | −$671 | |
| 9 | $6,068 | 6.750% | — | 87 | −$510 | |
| 10 | $6,388 | 6.812% | — | 40 | −$190 | |
| 11 | $6,908 | 6.750% | — | 41 | +$330 | |
| 12 | $7,225 | 6.875% | — | 3 | +$647 | |
| 13 | $7,378 | 6.688% | — | 4 | +$800 | |
| 14 | $7,683 | 6.000% | — | 1 | +$1,105 | |
| 15 | $7,704 | 6.250% | — | 47 | +$1,126 | |
| 16 | $7,718 | 6.750% | — | 11 | +$1,140 | |
| 17 | $8,342 | 6.438% | — | 2 | +$1,764 | |
| 18 | $9,773 | 6.438% | — | 2 | +$3,195 | |
| 19 | $9,937 | 6.250% | — | 1 | +$3,359 | |
| 20 | $10,081 | 6.812% | — | 8 | +$3,503 |
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.