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 and Cash Out Refi 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Seattle, Spokane, Boise City, Portland, and Moses Lake among others. We have data for 76 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 an average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 5.88% | 3/28/23 |
| 30 Year Conventional Purchase | 6.59% | 3/28/23 |
| 30 Year Conventional Refi | 6.57% | 3/28/23 |
| 30 Year Cash-out Refi | 6.71% | 3/28/23 |
| 30 Year FHA Purchase | 7.45% | 3/28/23 |
| 30 Year VA Purchase | 6.12% | 3/28/23 |
| 30 Year VA Refi | 6.09% | 3/28/23 |
| 30 Year USDA Purchase | 6.57% | 3/28/23 |
| 15 Year Conventional Purchase | 6.41% | 3/28/23 |
| 15 Year Conventional Refi | 5.98% | 3/28/23 |
| 15 Year Cash-out Refi | 5.98% | 3/28/23 |
| 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. | ||
Originations
1,978Origination Dollar Volume (All Markets)
$912,720,000Awards
Washington Trust Bank - 2022
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For 2022, 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
4.45%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.31%.
Relative Fees (Closing Costs)
Washington Trust Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,018.
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 $4,750.
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) | 246 | $254,930,000 | $1,036,301 | $6,434 | 4.73% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 782 | $227,380,000 | $290,767 | $4,817 | 4.92% |
| BOISE CITY, ID (FHA|USDA|VA) | 187 | $76,115,000 | $407,032 | $6,741 | 4.86% |
| Outside of Metro Areas | 152 | $51,880,000 | $341,316 | $7,119 | 4.85% |
| Outside of Metro Areas | 65 | $37,105,000 | $570,846 | $7,191 | 4.74% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 39 | $29,525,000 | $757,051 | $6,173 | 5.00% |
| Moses Lake, WA (FHA|USDA|VA) | 58 | $28,820,000 | $496,897 | $4,143 | 5.21% |
| WENATCHEE, WA (FHA|USDA|VA) | 88 | $20,710,000 | $235,341 | $4,304 | 4.91% |
| Sandpoint, ID (FHA|USDA|VA) | 67 | $20,175,000 | $301,119 | $8,278 | 4.98% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 32 | $17,510,000 | $547,188 | $4,410 | 4.33% |
| Pullman, WA (FHA|USDA|VA) | 52 | $17,160,000 | $330,000 | $4,998 | 4.74% |
| BEND, OR (FHA|USDA|VA) | 32 | $16,610,000 | $519,063 | $7,377 | 4.80% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 20 | $13,870,000 | $693,500 | $7,023 | 4.43% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 2 | $10,190,000 | $5,095,000 | $3,889 | 4.80% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 8 | $7,500,000 | $937,500 | $7,169 | 4.38% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 9 | $7,455,000 | $828,333 | $5,617 | 4.71% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 4 | $7,210,000 | $1,802,500 | $0 | 5.16% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 18 | $6,890,000 | $382,778 | $8,305 | 4.74% |
| Hailey, ID (FHA|USDA|VA) | 8 | $5,880,000 | $735,000 | $6,014 | 4.84% |
| Moscow, ID (FHA|USDA|VA) | 16 | $5,860,000 | $366,250 | $5,076 | 5.34% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 2 | $5,610,000 | $2,805,000 | $4,582 | 3.44% |
| BELLINGHAM, WA (FHA|USDA|VA) | 5 | $3,805,000 | $761,000 | $6,893 | 5.10% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 5 | $3,225,000 | $645,000 | $5,267 | 4.30% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $3,005,000 | $3,005,000 | $13,566 | 5.13% |
| Ellensburg, WA (FHA|USDA|VA) | 5 | $3,005,000 | $601,000 | $5,154 | 4.25% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 2 | $2,720,000 | $1,360,000 | $4,193 | 3.56% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 2 | $1,850,000 | $925,000 | $9,394 | 3.19% |
| LEWISTON, ID-WA (FHA|USDA|VA) | 7 | $1,815,000 | $259,286 | $7,420 | 5.18% |
| Key West, FL (FHA|USDA|VA) | 1 | $1,735,000 | $1,735,000 | $8,383 | 3.99% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 4 | $1,690,000 | $422,500 | $4,849 | 3.91% |
| KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) | 1 | $1,505,000 | $1,505,000 | $0 | 6.00% |
| Aberdeen, WA (FHA|USDA|VA) | 3 | $1,255,000 | $418,333 | $9,276 | 4.42% |
| YAKIMA, WA (FHA|USDA|VA) | 3 | $955,000 | $318,333 | $7,656 | 4.63% |
| SALEM, OR (FHA|USDA|VA) | 2 | $920,000 | $460,000 | $6,651 | 4.19% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $905,000 | $905,000 | $6,423 | 2.88% |
| TUCSON, AZ (FHA|USDA|VA) | 3 | $865,000 | $288,333 | $13,882 | 3.92% |
| Kalispell, MT (FHA|USDA|VA) | 1 | $825,000 | $825,000 | $5,558 | 3.13% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $795,000 | $795,000 | $3,885 | 4.13% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $4,515 | 3.94% |
| Centralia, WA (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $5,788 | 3.88% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $5,012 | 4.88% |
| CORVALLIS, OR (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $6,846 | 4.88% |
| Steamboat Springs, CO (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $3,650 | 3.13% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $7,706 | 6.13% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $5,069 | 5.13% |
| ST. GEORGE, UT (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $0 | 3.88% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $4,448 | 3.81% |
| MISSOULA, MT (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $5,022 | 4.25% |
| ANCHORAGE, AK (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $4,652 | 3.75% |
| Shelton, WA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $0 | 6.00% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $0 | 4.38% |
| Roseburg, OR (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $7,690 | 4.00% |
| CHICO, CA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $15,086 | 4.75% |
| TWIN FALLS, ID (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,280 | 4.38% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 4.75% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,978 | 4.25% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $5,964 | 3.99% |
| Othello, WA (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $0 | 4.88% |
| JACKSON, MS (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,511 | 5.50% |
| La Grande, OR (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,959 | 5.38% |
| Klamath Falls, OR (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,577 | 3.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,684 | 4.88% |
| Astoria, OR (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 5.50% |
| WALLA WALLA, WA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,382 | 3.75% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,506 | 5.00% |
| Butte-Silver Bow, MT (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,446 | 4.88% |
| Coos Bay, OR (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,682 | 6.25% |
| Mountain Home, ID (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $0 | 5.88% |
| Ontario, OR-ID (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 3.75% |
| Hermiston-Pendleton, OR (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $7,782 | 4.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,848 | 5.38% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 5.63% |
| GRANTS PASS, OR (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 3.75% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 4.50% |
| Oak Harbor, WA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 4.50% |
| Prineville, OR (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 3.75% |
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 2022, Washington Trust Bank's most frequently originated type of loan was HELOC, with 1,062 originations. Their 2nd most popular type was Conventional, with 873 originations.
Loan Reason
For 2022, Washington Trust Bank's most frequently cited loan purpose was Home Purchase, with 586 originations. The 2nd most popular reason was Cash Out Refi, with 428 originations.
Loan Duration/Length
For 2022, Washington Trust Bank's most frequently cited loan duration was Other, with 885 originations. The 2nd most popular length was 30 Year, with 708 originations.
Origination Fees/Closing Costs
Washington Trust Bank's average total fees were $6,018, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 383 originations.
Interest Rates
During 2022, Washington Trust Bank's average interest rate for loans was 4.45%, while their most frequently originated rate bucket for loans was 3-4%, with 679 originations.
Loan Sizing
2022 saw Washington Trust Bank place emphasis on $200k-400k loans with 559 originations, totaling $158,745,000 in origination value.
Applicant Income
Washington Trust Bank lent most frequently to those with incomes in the $250k+ range, with 540 originations. The second most popular income band? $100k-150k, with 317 originations.
Applicant Debt to Income Ratio
Washington Trust Bank lent most frequently to those with DTI ratios of 20-30%, with 340 originations. The next most common DTI ratio? <20%, with 266 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.14%
Washington Trust Bank has a below average approval rate.
Pick Rate
Approvals leading to origination79.93%
Washington Trust Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 76.07 | 1 | $5,000 | $5,000 |
| NA | 1,977 | $912,715,000 | $461,667 |