Washington Trust Bank Mortgage Rates, Fees & Info
Spokane, WALEI: 549300P2GEYNMH5OQA71
Tax ID: 91-0462347
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Mortgage Data
Review & Overview
Washington Trust Bank is a smaller bank specializing in Home Purchase loans. Washington Trust Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Seattle, Spokane, Boise City, Sandpoint, and Portland among others. We have data for 59 markets. (Some data included below & more in-depth data is available with an active subscription.)Washington Trust Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Washington Trust Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.87% | 4/5/25 |
| 30 Year Conventional Purchase | 6.68% | 4/5/25 |
| 30 Year Conventional Refi | 6.74% | 4/5/25 |
| 30 Year Cash-out Refi | 6.88% | 4/5/25 |
| 30 Year FHA Purchase | 7.27% | 4/5/25 |
| 30 Year FHA Refi | 6.72% | 4/5/25 |
| 30 Year VA Purchase | 6.45% | 4/5/25 |
| 30 Year VA Refi | 5.75% | 4/5/25 |
| 15 Year Conventional Purchase | 6.75% | 4/5/25 |
| 15 Year Conventional Refi | 6.96% | 4/5/25 |
| 15 Year Cash-out Refi | 6.96% | 4/5/25 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Washington Trust Bank Mortgage Calculator
Your Estimates
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This is not an official calculator from Washington Trust Bank. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,235Origination Dollar Volume (All Markets)
$535,135,000Awards
Washington Trust Bank - 2024
Washington Trust Bank is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Washington Trust Bank's average 30 year fixed mortgage rate was
6.61%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.06%.
Relative Fees (Closing Costs)
Washington Trust Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,751.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $8,356.
Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 148 | $133,000,000 | $898,649 | $6,216 | 7.71% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 461 | $129,775,000 | $281,508 | $4,952 | 7.88% |
| Outside of Metro Areas | 92 | $30,210,000 | $328,370 | $5,128 | 8.20% |
| BOISE CITY, ID (FHA|USDA|VA) | 115 | $29,855,000 | $259,609 | $7,820 | 8.28% |
| Sandpoint, ID (FHA|USDA|VA) | 41 | $26,845,000 | $654,756 | $9,085 | 8.19% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 43 | $24,155,000 | $561,744 | $9,312 | 7.36% |
| BEND, OR (FHA|USDA|VA) | 38 | $19,280,000 | $507,368 | $8,942 | 7.57% |
| Moses Lake, WA (FHA|USDA|VA) | 53 | $16,005,000 | $301,981 | $4,326 | 8.26% |
| Hailey, ID (FHA|USDA|VA) | 3 | $12,985,000 | $4,328,333 | $4,255 | 8.50% |
| Outside of Metro Areas | 27 | $10,945,000 | $405,370 | $4,775 | 7.92% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 5 | $8,485,000 | $1,697,000 | $0 | 8.75% |
| WENATCHEE, WA (FHA|USDA|VA) | 37 | $7,465,000 | $201,757 | $4,096 | 8.23% |
| Centralia, WA (FHA|USDA|VA) | 3 | $6,625,000 | $2,208,333 | $6,198 | 7.79% |
| Moscow, ID (FHA|USDA|VA) | 15 | $6,625,000 | $441,667 | $7,881 | 7.86% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 25 | $6,075,000 | $243,000 | $5,553 | 6.84% |
| Pullman, WA (FHA|USDA|VA) | 19 | $5,435,000 | $286,053 | $4,573 | 7.42% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 11 | $5,005,000 | $455,000 | $9,059 | 7.15% |
| Oak Harbor, WA (FHA|USDA|VA) | 7 | $4,355,000 | $622,143 | $5,934 | 7.73% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 6 | $4,090,000 | $681,667 | $6,100 | 7.35% |
| Ellensburg, WA (FHA|USDA|VA) | 6 | $3,920,000 | $653,333 | $3,152 | 8.23% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 7 | $3,845,000 | $549,286 | $3,259 | 8.66% |
| Kalispell, MT (FHA|USDA|VA) | 1 | $3,575,000 | $3,575,000 | $12,117 | 7.38% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 3 | $3,435,000 | $1,145,000 | $10,982 | 7.25% |
| URBAN HONOLULU, HI (FHA|USDA|VA) | 1 | $2,975,000 | $2,975,000 | $0 | 8.50% |
| Kapaa, HI (FHA|USDA|VA) | 2 | $2,510,000 | $1,255,000 | $0 | 7.40% |
| BELLINGHAM, WA (FHA|USDA|VA) | 3 | $1,795,000 | $598,333 | $3,997 | 7.92% |
| Shelton, WA (FHA|USDA|VA) | 3 | $1,765,000 | $588,333 | $0 | 8.25% |
| Astoria, OR (FHA|USDA|VA) | 1 | $1,755,000 | $1,755,000 | $0 | 7.50% |
| Newport, OR (FHA|USDA|VA) | 2 | $1,740,000 | $870,000 | $8,798 | 7.19% |
| Prineville, OR (FHA|USDA|VA) | 2 | $1,520,000 | $760,000 | $6,596 | 7.25% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 2 | $1,370,000 | $685,000 | $4,976 | 7.69% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 3 | $1,345,000 | $448,333 | $9,596 | 6.33% |
| LEWISTON, ID-WA (FHA|USDA|VA) | 8 | $1,290,000 | $161,250 | $5,155 | 8.16% |
| Bozeman, MT (FHA|USDA|VA) | 1 | $1,205,000 | $1,205,000 | $0 | 8.50% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 2 | $1,180,000 | $590,000 | $5,485 | 7.94% |
| WALLA WALLA, WA (FHA|USDA|VA) | 2 | $1,140,000 | $570,000 | $0 | 8.25% |
| Gardnerville Ranchos, NV (FHA|USDA|VA) | 1 | $1,105,000 | $1,105,000 | $7,970 | 6.38% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $1,065,000 | $1,065,000 | $4,254 | 6.88% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $880,000 | $440,000 | $5,301 | 7.25% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $870,000 | $435,000 | $5,255 | 7.00% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $8,331 | 6.75% |
| SALEM, OR (FHA|USDA|VA) | 3 | $775,000 | $258,333 | $5,198 | 7.54% |
| ANCHORAGE, AK (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $5,181 | 8.00% |
| TWIN FALLS, ID (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $7,523 | 6.38% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $0 | 8.00% |
| Othello, WA (FHA|USDA|VA) | 3 | $545,000 | $181,667 | $3,454 | 5.42% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $4,092 | 6.83% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 7.75% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 8.50% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 4 | $380,000 | $95,000 | $0 | 6.97% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,766 | 7.25% |
| Ontario, OR-ID (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $5,290 | 8.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $8,893 | 6.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $6,271 | 6.50% |
| YAKIMA, WA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,003 | 6.50% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 8.75% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $5,321 | 6.75% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,964 | 6.50% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 9.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Washington Trust Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2024, Washington Trust Bank's most frequently originated type of loan was HELOC, with 656 originations. Their 2nd most popular type was Conventional, with 539 originations.
Loan Reason
For 2024, Washington Trust Bank's most frequently cited loan purpose was Home Purchase, with 390 originations. The 2nd most popular reason was Other, with 272 originations.
Loan Duration/Length
For 2024, Washington Trust Bank's most frequently cited loan duration was Other, with 545 originations. The 2nd most popular length was 30 Year, with 444 originations.
Origination Fees/Closing Costs
Washington Trust Bank's average total fees were $6,751, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 272 originations.
Interest Rates
During 2024, Washington Trust Bank's average interest rate for loans was 6.61%, while their most frequently originated rate bucket for loans was Over 8%, with 641 originations.
Loan Sizing
2024 saw Washington Trust Bank place emphasis on $200k-400k loans with 347 originations, totaling $100,215,000 in origination value.
Applicant Income
Washington Trust Bank lent most frequently to those with incomes in the $250k+ range, with 400 originations. The second most popular income band? $150k-250k, with 184 originations.
Applicant Debt to Income Ratio
Washington Trust Bank lent most frequently to those with DTI ratios of 20-30%, with 200 originations. The next most common DTI ratio? 50-60%, with 155 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications79.33%
Washington Trust Bank has a below average approval rate.
Pick Rate
Approvals leading to origination78.30%
Washington Trust Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,235 | $535,135,000 | $433,308 |