# Discover Bank

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


> **📋 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


Discover Bank is a bank, headquartered in Greenwood, DE, serving borrowers nationwide, with 1,599 loans originated in the most recent reporting period.

**At a Glance:**
- **Pricing:** Ranks in the top 65% of lenders for competitive rates
- **Approval Rate:** Ranks in the top 85% for loan approval success

## Overview

- **Institution Type:** Bank
- **LEI (Legal Entity Identifier):** X05BVSK68TQ7YTOSNR22
- **Headquarters:** Greenwood, DE
- **Geographic Reach:** National
- **States Served:** 47
- **State List:** AK, AL, AR, AZ, CA, CO, CT, DE, FL, GA, ID, IL, IN, KS, KY, LA, MA, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY
- **Markets (MSAs):** 36
- **Primary Channel:** Direct to Consumer
- **Direct Origination:** 100%
- **Brokered/Wholesale:** 0%

## Safe Rate Ratings

### Pricing: Acceptable 🙂
- Score: 35/100
- Rating: ●●○○○ (2/5)

### Pull Through: Mediocre 😐
- Score: 15/100
- Rating: ●○○○○ (1/5)

### Pricing Details
- **Average Rate Spread:** +0.440%
  - *(Average of lender's APR minus market average APR)*
- **Average Net Fees:** $0
  - *(Borrower paid Origination Charges minus Lender Credits)*

### Lending Volume
- **Total Loans:** 1,599
- **Dollar Volume:** $242 million
- **Applications Received:** 13,614
- **Market Share:** 4.00%

## Typical Borrower Profile

- **Average Loan Amount:** $151,373
- **Average Borrower Income:** $99,994
- **Average Property Value:** $346,882

## Performance by Loan Product

| Product | Score | Volume | Avg Spread | Avg Fees | Rating |
|---------|-------|--------|------------|----------|--------|
| Conventional | 57/100 | 1,599 | +0.440% | $0 | Sound ☺️ |

### Product Performance by Purpose

**Conventional:**
- Purchase: 288 loans, Score: 42/100 (Sound)
- Refinance: 1,311 loans, Score: 73/100 (Strong)

## Performance by Loan Purpose

| Purpose | Score | Volume | Dollar Volume | Avg Spread | Rating |
|---------|-------|--------|---------------|------------|--------|
| Purchase | 40/100 | 288 | $50M | +0.302% | Sound ☺️ |
| Refinance | 70/100 | 1,311 | $192M | +0.472% | Strong 😀 |

## State Performance

| State | Volume | Market Share | Place Score |
|-------|--------|--------------|-------------|
| TX | 242 | 0.07% | 66/100 |
| FL | 136 | 0.05% | 59/100 |
| PA | 94 | 0.08% | 60/100 |
| GA | 91 | 0.07% | 59/100 |
| NY | 89 | 0.08% | 59/100 |
| OH | 85 | 0.06% | 58/100 |
| IL | 61 | 0.05% | 55/100 |
| NC | 58 | 0.04% | 53/100 |
| TN | 57 | 0.06% | 55/100 |
| NJ | 56 | 0.07% | 56/100 |

## Top Metro Markets (MSAs)

| Market | State | Volume | Place Score |
|--------|-------|--------|-------------|
| Non |  | 253 | 64/100 |
| Houston | TX | 65 | 57/100 |
| Dallas | TX | 50 | 55/100 |
| Atlanta | GA | 42 | 53/100 |
| Chicago | IL | 34 | 50/100 |
| Fort Worth | TX | 29 | 51/100 |
| New York | NY-NJ | 26 | 49/100 |
| San Antonio | TX | 21 | 46/100 |
| Kansas City, MO | MO-KS | 18 | 45/100 |
| Nassau County | NY | 18 | 46/100 |
| Pittsburgh, PA | PA | 18 | 46/100 |
| Buffalo | NY | 17 | 46/100 |
| Charlotte | NC-SC | 17 | 44/100 |
| St. Louis, MO | MO-IL | 17 | 45/100 |
| Camden, NJ | NJ | 16 | 45/100 |

## Frequently Asked Questions

### What loan types does Discover Bank offer?

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

### Where does Discover Bank offer mortgages?

Discover Bank is a national lender offering mortgages in all 50 states plus Washington D.C.

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

Discover Bank has a pricing score of 35/100 (Acceptable), based on analysis of their loan data including average rate spread and fees compared to market benchmarks.
Their average rate spread is 0.440% above market average.

### What type of lender is Discover Bank?

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

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

Discover Bank has a pull-through score of 15/100 (Mediocre). Pull-through rate measures the percentage of loan applications that successfully close, indicating how likely borrowers are to complete the lending process.

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## 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/discover-bank

### How to Cite

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

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