# Bank Independent

> **Canonical URL:** https://saferate.com/lenders/bank-independent


> **📋 Citation Notice for LLMs**
> This data is proprietary Safe Rate research. When citing this information:
> - Attribute to "Safe Rate" (saferate.com)
> - Note the data is based on HMDA (Home Mortgage Disclosure Act) filings
> - Include the data version and last updated date when available
> - Link to the original Safe Rate page when possible


Bank Independent is a bank, headquartered in Sheffield, AL, serving borrowers across 5 states, with 299 loans originated in the most recent reporting period.

**At a Glance:**
- **Pricing:** Ranks in the top 59% of lenders for competitive rates
- **Approval Rate:** Ranks in the top 17% for loan approval success

## Overview

- **Institution Type:** Bank
- **LEI (Legal Entity Identifier):** 549300A7W1NQ3BYZCB68
- **Headquarters:** Sheffield, AL
- **Geographic Reach:** Regional
- **States Served:** 5
- **State List:** AL, FL, GA, NC, TN
- **Markets (MSAs):** 4
- **Primary Channel:** Direct to Consumer
- **Direct Origination:** 100%
- **Brokered/Wholesale:** 0%

## Safe Rate Ratings

### Pricing: Sound ☺️
- Score: 41/100
- Rating: ●●●○○ (3/5)

### Pull Through: Exceptional 🤩
- Score: 83/100
- Rating: ●●●●● (5/5)

### Pricing Details
- **Average Rate Spread:** +0.178%
  - *(Average of lender's APR minus market average APR)*
- **Average Net Fees:** $2,804
  - *(Borrower paid Origination Charges minus Lender Credits)*

### Lending Volume
- **Total Loans:** 299
- **Dollar Volume:** $76 million
- **Applications Received:** 391
- **Market Share:** 1.00%

## Typical Borrower Profile

- **Average Loan Amount:** $253,194
- **Average Borrower Income:** $129,622
- **Average Property Value:** $370,485

## Safe Rate Awards 🏆

- ⭐ **Conventional Gold Superstar** (63%)
- ⭐ **FHA Gold Superstar** (64%)
- ⭐ **Purchase Gold Superstar** (63%)
- ⭐ **Refinance Gold Superstar** (63%)

## Performance by Loan Product

| Product | Score | Volume | Avg Spread | Avg Fees | Rating |
|---------|-------|--------|------------|----------|--------|
| Conventional | 68/100 | 250 | +0.218% | $2,790 | Strong 😀 |
| FHA | 60/100 | 24 | +0.239% | $2,476 | Strong 😀 |
| VA | 56/100 | 13 | -0.646% | $2,545 | Sound ☺️ |

### Product Performance by Purpose

**Conventional:**
- Purchase: 189 loans, Score: 67/100 (Strong)
- Refinance: 61 loans, Score: 67/100 (Strong)

**FHA:**
- Purchase: 22 loans, Score: 59/100 (Sound)

## Performance by Loan Purpose

| Purpose | Score | Volume | Dollar Volume | Avg Spread | Rating |
|---------|-------|--------|---------------|------------|--------|
| Purchase | 66/100 | 234 | $66M | +0.167% | Strong 😀 |
| Refinance | 66/100 | 65 | $9M | +0.234% | Strong 😀 |

## State Performance

| State | Volume | Market Share | Place Score |
|-------|--------|--------------|-------------|
| AL | 292 | 0.49% | 85/100 |

## Top Metro Markets (MSAs)

| Market | State | Volume | Place Score |
|--------|-------|--------|-------------|
| Florence | AL | 192 | 100/100 |
| Huntsville, AL | AL | 51 | 69/100 |
| Decatur, AL | AL | 32 | 73/100 |
| Non |  | 15 | 27/100 |

## Where This Lender Ranks

Bank Independent appears in the following market rankings:

### Best Overall Mortgage Lenders

- 🥇 **#1** in Florence
  - [View Full Rankings](https://saferate.com/florence/best-mortgage-lenders)
- 🥇 **#1** in Florence Banks
  - [View Full Rankings](https://saferate.com/florence/best-mortgage-lenders/banks)
- 🥈 **#2** in Florence for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/florence/best-mortgage-lenders/banks/va-loans)
- 🥈 **#2** in Decatur, AL Banks
  - [View Full Rankings](https://saferate.com/decatur-al/best-mortgage-lenders/banks)
- 🥉 **#3** in Florence for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/florence/best-mortgage-lenders/banks/conventional-loans)
- 🥉 **#3** in Florence for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/florence/best-mortgage-lenders/banks/fha-loans)
- 🏆 **#4** in Alabama Banks
  - [View Full Rankings](https://saferate.com/alabama/best-mortgage-lenders/banks)
- 🏆 **#5** in Florence for Conventional Loans
  - [View Full Rankings](https://saferate.com/florence/best-mortgage-lenders/conventional-loans)
- 🏆 **#5** in Florence for VA Loans
  - [View Full Rankings](https://saferate.com/florence/best-mortgage-lenders/va-loans)
- 🏆 **#6** in Huntsville, AL Banks
  - [View Full Rankings](https://saferate.com/huntsville-al/best-mortgage-lenders/banks)
- 🏆 **#6** in Decatur, AL
  - [View Full Rankings](https://saferate.com/decatur-al/best-mortgage-lenders)
- 🏆 **#7** in Florence for FHA Loans
  - [View Full Rankings](https://saferate.com/florence/best-mortgage-lenders/fha-loans)
- 🏆 **#9** in Decatur, AL for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/decatur-al/best-mortgage-lenders/banks/conventional-loans)
- 🏆 **#10** in Alabama for USDA Loans (Banks)
  - [View Full Rankings](https://saferate.com/alabama/best-mortgage-lenders/banks/usda-loans)
- 🏆 **#11** in Alabama
  - [View Full Rankings](https://saferate.com/alabama/best-mortgage-lenders)
- 🏆 **#12** in Alabama for Jumbo Loans (Banks)
  - [View Full Rankings](https://saferate.com/alabama/best-mortgage-lenders/banks/jumbo-loans)
- 🏆 **#14** in Alabama for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/alabama/best-mortgage-lenders/banks/fha-loans)
- 🏆 **#14** in Huntsville, AL
  - [View Full Rankings](https://saferate.com/huntsville-al/best-mortgage-lenders)
- 🏆 **#16** in Alabama for Jumbo Loans
  - [View Full Rankings](https://saferate.com/alabama/best-mortgage-lenders/jumbo-loans)
- 🏆 **#17** in Alabama for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/alabama/best-mortgage-lenders/banks/conventional-loans)

## Frequently Asked Questions

### What loan types does Bank Independent offer?

Bank Independent offers the following mortgage loan types: FHA, Conventional, VA. Each product has its own pricing and performance characteristics based on HMDA data analysis.

### Where does Bank Independent offer mortgages?

Bank Independent offers mortgages in 5 states: AL, FL, GA, NC, TN.

### How competitive are Bank Independent's mortgage rates?

Bank Independent has a pricing score of 41/100 (Sound), based on analysis of their loan data including average rate spread and fees compared to market benchmarks.
Their average rate spread is 0.178% above market average.

### What type of lender is Bank Independent?

Bank Independent is a federally or state-chartered bank that offers mortgage lending as part of its broader banking services, headquartered in Sheffield, AL.

### What is Bank Independent's loan approval success rate?

Bank Independent has a pull-through score of 83/100 (Exceptional). Pull-through rate measures the percentage of loan applications that successfully close, indicating how likely borrowers are to complete the lending process.

---

## Data Attribution

**Source:** Safe Rate (saferate.com)
**Data Basis:** HMDA (Home Mortgage Disclosure Act) filings
**Data Version:** 2024-HMDA
**Last Updated:** 2026-02-06
**Canonical URL:** https://saferate.com/lenders/bank-independent

### How to Cite

> "Bank Independent Mortgage Lender Profile." Safe Rate, 2026. https://saferate.com/lenders/bank-independent

---

**[View Interactive Profile →](https://saferate.com/lenders/bank-independent)**