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, Portland, and Hailey among others. We have data for 65 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 relatively high 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) | 5.88% | 11/17/24 |
| 30 Year Conventional Purchase | 6.59% | 11/17/24 |
| 30 Year Conventional Refi | 6.57% | 11/17/24 |
| 30 Year Cash-out Refi | 6.71% | 11/17/24 |
| 30 Year FHA Purchase | 7.45% | 11/17/24 |
| 30 Year VA Purchase | 6.12% | 11/17/24 |
| 30 Year VA Refi | 6.09% | 11/17/24 |
| 30 Year USDA Purchase | 6.57% | 11/17/24 |
| 15 Year Conventional Purchase | 6.41% | 11/17/24 |
| 15 Year Conventional Refi | 5.98% | 11/17/24 |
| 15 Year Cash-out Refi | 5.98% | 11/17/24 |
| 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
1,270Origination Dollar Volume (All Markets)
$552,330,000Awards
Washington Trust Bank - 2023
Washington Trust Bank is a 2023 , due to their low .
For 2023, 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 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.13%.
Relative Fees (Closing Costs)
Washington Trust Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,517.
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 $9,089.
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) | 160 | $160,030,000 | $1,000,188 | $7,034 | 7.66% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 493 | $129,985,000 | $263,661 | $5,057 | 8.01% |
| Outside of Metro Areas | 102 | $40,390,000 | $395,980 | $4,161 | 8.14% |
| BOISE CITY, ID (FHA|USDA|VA) | 127 | $34,445,000 | $271,220 | $7,298 | 8.19% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 34 | $17,490,000 | $514,412 | $8,189 | 7.34% |
| Hailey, ID (FHA|USDA|VA) | 3 | $14,315,000 | $4,771,667 | $6,269 | 7.13% |
| Sandpoint, ID (FHA|USDA|VA) | 35 | $13,865,000 | $396,143 | $9,583 | 8.06% |
| BEND, OR (FHA|USDA|VA) | 28 | $12,910,000 | $461,071 | $9,420 | 7.21% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 13 | $11,385,000 | $875,769 | $6,443 | 6.99% |
| WENATCHEE, WA (FHA|USDA|VA) | 41 | $10,625,000 | $259,146 | $6,038 | 8.41% |
| Outside of Metro Areas | 28 | $10,620,000 | $379,286 | $5,292 | 7.69% |
| Moses Lake, WA (FHA|USDA|VA) | 52 | $9,960,000 | $191,538 | $3,025 | 8.02% |
| Pullman, WA (FHA|USDA|VA) | 29 | $8,815,000 | $303,966 | $3,951 | 7.84% |
| Moscow, ID (FHA|USDA|VA) | 14 | $8,010,000 | $572,143 | $8,815 | 8.13% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 17 | $7,905,000 | $465,000 | $5,699 | 6.21% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 6 | $7,830,000 | $1,305,000 | $5,883 | 7.00% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 3 | $6,665,000 | $2,221,667 | $0 | 7.46% |
| Ellensburg, WA (FHA|USDA|VA) | 7 | $6,595,000 | $942,143 | $6,283 | 7.45% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $5,005,000 | $5,005,000 | $0 | 6.25% |
| BELLINGHAM, WA (FHA|USDA|VA) | 4 | $3,760,000 | $940,000 | $9,337 | 7.81% |
| Kalispell, MT (FHA|USDA|VA) | 3 | $2,605,000 | $868,333 | $4,594 | 7.21% |
| Astoria, OR (FHA|USDA|VA) | 3 | $2,435,000 | $811,667 | $7,595 | 6.60% |
| Heber, UT (FHA|USDA|VA) | 2 | $2,090,000 | $1,045,000 | $9,453 | 7.00% |
| LEWISTON, ID-WA (FHA|USDA|VA) | 8 | $1,820,000 | $227,500 | $5,751 | 7.69% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 5 | $1,695,000 | $339,000 | $5,447 | 7.53% |
| Kapaa, HI (FHA|USDA|VA) | 1 | $1,565,000 | $1,565,000 | $23,658 | 5.50% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $1,555,000 | $1,555,000 | $5,994 | 5.75% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 2 | $1,440,000 | $720,000 | $7,139 | 6.81% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 2 | $1,390,000 | $695,000 | $4,307 | 6.94% |
| Aberdeen, WA (FHA|USDA|VA) | 2 | $1,190,000 | $595,000 | $5,501 | 6.06% |
| FORT COLLINS, CO (FHA|USDA|VA) | 2 | $1,150,000 | $575,000 | $4,769 | 7.25% |
| CORVALLIS, OR (FHA|USDA|VA) | 3 | $885,000 | $295,000 | $9,452 | 6.58% |
| WALLA WALLA, WA (FHA|USDA|VA) | 1 | $835,000 | $835,000 | $3,974 | 7.00% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $825,000 | $825,000 | $0 | 8.75% |
| IDAHO FALLS, ID (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $0 | 8.50% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $6,826 | 6.88% |
| KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $6,965 | 6.50% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $8,055 | 6.88% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 9.50% |
| Ontario, OR-ID (FHA|USDA|VA) | 3 | $605,000 | $201,667 | $12,909 | 8.25% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $10,521 | 5.88% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $4,787 | 6.50% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $16,722 | 7.63% |
| Mountain Home, ID (FHA|USDA|VA) | 3 | $385,000 | $128,333 | $2,635 | 7.88% |
| MISSOULA, MT (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $4,100 | 6.13% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $10,642 | 5.63% |
| SALEM, OR (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $5,097 | 7.13% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $7,815 | 6.63% |
| Burley, ID (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $9,318 | 7.50% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $7,600 | 5.25% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $10,190 | 6.63% |
| MEDFORD, OR (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 6.38% |
| Oak Harbor, WA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 8.75% |
| TWIN FALLS, ID (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,568 | 6.25% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 7.00% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 8.50% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $0 | 7.88% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 7.00% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 8.75% |
| Aberdeen, SD (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,529 | 6.75% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $6,460 | 6.38% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $4,313 | 7.38% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 9.75% |
| Othello, WA (FHA|USDA|VA) | 2 | $50,000 | $25,000 | $0 | 9.13% |
| Rexburg, ID (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 9.25% |
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 2023, Washington Trust Bank's most frequently originated type of loan was HELOC, with 727 originations. Their 2nd most popular type was Conventional, with 524 originations.
Loan Reason
For 2023, Washington Trust Bank's most frequently cited loan purpose was Home Purchase, with 373 originations. The 2nd most popular reason was Other, with 277 originations.
Loan Duration/Length
For 2023, Washington Trust Bank's most frequently cited loan duration was Other, with 604 originations. The 2nd most popular length was 30 Year, with 409 originations.
Origination Fees/Closing Costs
Washington Trust Bank's average total fees were $6,517, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 241 originations.
Interest Rates
During 2023, 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 683 originations.
Loan Sizing
2023 saw Washington Trust Bank place emphasis on $200k-400k loans with 327 originations, totaling $90,295,000 in origination value.
Applicant Income
Washington Trust Bank lent most frequently to those with incomes in the $250k+ range, with 410 originations. The second most popular income band? $100k-150k, with 193 originations.
Applicant Debt to Income Ratio
Washington Trust Bank lent most frequently to those with DTI ratios of 20-30%, with 212 originations. The next most common DTI ratio? 50-60%, with 173 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications81.01%
Washington Trust Bank has a below average approval rate.
Pick Rate
Approvals leading to origination77.48%
Washington Trust Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,270 | $552,330,000 | $434,906 |