Rhode Island Mortgage Rates & Closing Costs
30yr Fixed Rate
15yr Fixed Rate
FHA
USDA
VA
5/1 ARM
30 Year Fixed Rate mortgages in Rhode Island averaged
5.97%
for the week of 2023-05-25, compared to the national average of
6.57% for the same period.
The average rate for the prior week (2023-05-18) was
5.89% and
one month ago for the week of 2023-04-20, the
average rate was 5.89%.
Rhode Island's average rate one year ago was 4.75%.
For refis of the same type during the week of 2023-05-25, the average rate
was 5.7%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2023-05-25 | 6.57% |
| Rhode Island 30 Year Fixed Rate | 2023-05-25 | 5.97% |
| Rhode Island 30 Year Fixed Rate Refi | 2023-05-25 | 5.7% |
| Rhode Island 15 Year Fixed Rate | 2023-05-25 | 5.51% |
| Rhode Island 15 Year Fixed Rate Refi | 2023-05-25 | 4.53% |
| Rhode Island 30 Year FHA | 2023-05-25 | 6.06% |
| Rhode Island 30 Year FHA Refi | 2023-05-25 | 4.69% |
| Rhode Island 30 Year USDA | 2023-05-25 | 6.63% |
| Rhode Island 30 Year USDA Refi | 2023-05-25 | 6.73% |
| Rhode Island 30 Year VA | 2023-05-25 | 5.93% |
| Rhode Island 30 Year VA Refi | 2023-05-25 | 4.17% |
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Rhode Island.
Rhode Island Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Rhode Island market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).
Rhode Island Average Closing Costs & Other Stats
Rhode Island's 279 lenders originated 32,176
loans during 2022. The total origination value was $9,900,660,000, with an average loan value of
$307,703.
Rhode Island's average closing costs are $5,327.
The top Rhode Island lender as defined by loan originations is Navigant Credit Union, with
704 loans originated. Their average total fees are
$8,435, which is $808
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Rhode Island lenders (with over 10 loans originated) are
Rhode Island Credit Union ($638), EVERETT FINANCIAL, INC. ($2,578), OCEAN STATE CREDIT UNION ($2,723), UniBank for Savings ($2,920) and NBKC BANK ($3,092).
The lowest rate Rhode Island lenders (with over 10 loans originated) are
St. Anne's Credit Union of Fall River, Mass. (3.19%), First Republic Bank (3.27%), Santander Bank, N.A. (3.34%), Charles Schwab Bank, SSB (3.53%) and Rhode Island Credit Union (3.62%).
Rhode Island Mortgage Market Share & Volume
Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.
| Name | 2021 Loan Value | 2022 Loan Value | % Change | 2022 Market Share |
|---|---|---|---|---|
| Citizens Bank | $943,280,000 | $730,525,000 | -22.6% | 7.4% |
| Navigant Credit Union | $593,405,000 | $469,955,000 | -20.8% | 4.7% |
| PAWTUCKET | $512,705,000 | $379,985,000 | -25.9% | 3.8% |
| MOVEMENT MORTGAGE, LLC | $461,375,000 | $338,030,000 | -26.7% | 3.4% |
| The Washington Trust Company, of Westerly | $544,430,000 | $337,055,000 | -38.1% | 3.4% |
| QUICKEN LOANS, LLC | $776,375,000 | $304,990,000 | -60.7% | 3.1% |
| NFM, INC. | $338,500,000 | $269,685,000 | -20.3% | 2.7% |
| BankNewport | $276,955,000 | $242,205,000 | -12.5% | 2.4% |
| Bank Rhode Island | $239,605,000 | $238,365,000 | -0.5% | 2.4% |
| BAYCOAST MORTGAGE COMPANY, LLC | $258,875,000 | $203,280,000 | -21.5% | 2.1% |
| Bank of America | $259,420,000 | $199,835,000 | -23.0% | 2.0% |
| UNITED WHOLESALE MORTGAGE, LLC | $259,285,000 | $172,440,000 | -33.5% | 1.7% |
| Northpointe Bank | $301,025,000 | $165,025,000 | -45.2% | 1.7% |
| GUARANTEED RATE, INC. | $261,335,000 | $164,330,000 | -37.1% | 1.7% |
| GUILD MORTGAGE COMPANY | $17,730,000 | $149,700,000 | 744.3% | 1.5% |
| Flagstar Bank, FSB | $245,235,000 | $143,940,000 | -41.3% | 1.5% |
| Centreville Bank | $106,030,000 | $143,405,000 | 35.2% | 1.4% |
| Shamrock Home Loans, Inc. | $251,595,000 | $140,400,000 | -44.2% | 1.4% |
| Brookline Bank | $12,580,000 | $139,295,000 | 1,007.3% | 1.4% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $251,600,000 | $128,355,000 | -49.0% | 1.3% |
| TD Bank | $77,965,000 | $127,595,000 | 63.7% | 1.3% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $218,070,000 | $124,290,000 | -43.0% | 1.3% |
| Rockland Trust Company | $69,085,000 | $123,935,000 | 79.4% | 1.3% |
| Semper Home Loans, Inc. | $123,595,000 | n/a | 1.2% | |
| JPMorgan Chase Bank | $347,790,000 | $116,095,000 | -66.6% | 1.2% |
| Webster Bank | $153,085,000 | $115,500,000 | -24.6% | 1.2% |
| BayCoast Bank | $58,375,000 | $110,360,000 | 89.1% | 1.1% |
| WALKER & DUNLOP, LLC | $47,180,000 | $108,320,000 | 129.6% | 1.1% |
| Bristol County Savings Bank | $82,775,000 | $101,270,000 | 22.3% | 1.0% |
| LOANDEPOT.COM, LLC | $245,135,000 | $100,155,000 | -59.1% | 1.0% |
| HARBORONE MORTGAGE, LLC | $244,165,000 | $96,980,000 | -60.3% | 1.0% |
| GUARANTEED RATE AFFINITY, LLC | $159,215,000 | $95,300,000 | -40.1% | 1.0% |
| TOTAL MORTGAGE SERVICES, LLC | $161,385,000 | $87,250,000 | -45.9% | 0.9% |
| CROSSCOUNTRY MORTGAGE, LLC | $182,410,000 | $82,620,000 | -54.7% | 0.8% |
| NAVY FEDERAL CREDIT UNION | $122,030,000 | $80,255,000 | -34.2% | 0.8% |
| CALIBER HOME LOANS, INC. | $200,115,000 | $80,135,000 | -60.0% | 0.8% |
| Eastern Bank | $47,070,000 | $77,650,000 | 65.0% | 0.8% |
| HOME POINT FINANCIAL CORPORATION | $160,540,000 | $76,970,000 | -52.1% | 0.8% |
| PROVINCE MORTGAGE ASSOCIATES, INC. | $249,320,000 | $76,310,000 | -69.4% | 0.8% |
| Wells Fargo Bank | $160,685,000 | $71,655,000 | -55.4% | 0.7% |
| PENNYMAC LOAN SERVICES, LLC | $214,265,000 | $71,400,000 | -66.7% | 0.7% |
| FREEDOM MORTGAGE CORPORATION | $245,710,000 | $67,630,000 | -72.5% | 0.7% |
| Home Loan Investment Bank, F.S.B. | $138,980,000 | $66,470,000 | -52.2% | 0.7% |
| Fall River Five Cents Savings Bank | $133,660,000 | $64,415,000 | -51.8% | 0.7% |
| EMBRACE HOME LOANS, INC. | $115,000,000 | $62,300,000 | -45.8% | 0.6% |
| First Republic Bank | $88,500,000 | $61,650,000 | -30.3% | 0.6% |
| GREENWOOD | $88,390,000 | $61,505,000 | -30.4% | 0.6% |
| DIGITAL Federal Credit Union | $26,540,000 | $59,885,000 | 125.6% | 0.6% |
| RF Renovo Management Company, LLC | $27,215,000 | $58,285,000 | 114.2% | 0.6% |
| Mr. Cooper ( Nationstar Mortgage ) | $134,900,000 | $58,060,000 | -57.0% | 0.6% |
| HarborOne Bank | $37,955,000 | $57,345,000 | 51.1% | 0.6% |
| Mortgage Research Center, LLC | $87,275,000 | $55,765,000 | -36.1% | 0.6% |
| The People's Credit Union | $4,385,000 | $53,845,000 | 1,127.9% | 0.5% |
| Leader Bank | $80,180,000 | $52,345,000 | -34.7% | 0.5% |
| AMERISAVE MORTGAGE CORPORATION | $136,380,000 | $50,880,000 | -62.7% | 0.5% |
| Merchants Bank of Indiana | $133,020,000 | $46,705,000 | -64.9% | 0.5% |
| U.S. Bank | $89,810,000 | $46,675,000 | -48.0% | 0.5% |
| Envision Bank | $96,845,000 | $42,175,000 | -56.5% | 0.4% |
| Prudential Huntoon Paige Associates, LLC | $41,635,000 | n/a | 0.4% | |
| Morgan Stanley Private Bank | $44,145,000 | $39,670,000 | -10.1% | 0.4% |
| NEWREZ LLC | $152,935,000 | $38,960,000 | -74.5% | 0.4% |
| Berkshire Bank | $11,520,000 | $38,130,000 | 231.0% | 0.4% |
| Nations Lending Corporation | $113,560,000 | $36,350,000 | -68.0% | 0.4% |
| LAKEVIEW LOAN SERVICING, LLC | $106,665,000 | $35,745,000 | -66.5% | 0.4% |
| WASHINGTON TRUST MORTGAGE COMPANY LLC | $63,850,000 | $35,680,000 | -44.1% | 0.4% |
| BERKADIA COMMERCIAL MORTGAGE LLC | $3,485,000 | $34,905,000 | 901.6% | 0.4% |
| Mortgage Network, Inc. | $18,760,000 | $33,655,000 | 79.4% | 0.3% |
| Rhode Island Credit Union | $44,340,000 | $32,925,000 | -25.7% | 0.3% |
| Cambridge Trust Company | $4,765,000 | $32,855,000 | 589.5% | 0.3% |
| WESTERLY COMMUNITY | $44,445,000 | $28,325,000 | -36.3% | 0.3% |
| Paramount Residential Mortgage Group, Inc. | $46,650,000 | $26,075,000 | -44.1% | 0.3% |
| M&T Realty Capital Corporation | $25,375,000 | n/a | 0.3% | |
| HOMESPIRE MORTGAGE CORPORATION | $52,880,000 | $25,220,000 | -52.3% | 0.3% |
| FIRST HOME MORTGAGE CORPORATION | $81,935,000 | $25,015,000 | -69.5% | 0.3% |
| BERKELEY POINT CAPITAL LLC | $24,415,000 | n/a | 0.2% | |
| Ixonia Bank | $7,385,000 | $24,285,000 | 228.8% | 0.2% |
| Santander Bank, N.A. | $147,980,000 | $23,815,000 | -83.9% | 0.2% |
| Country Bank for Savings | $23,265,000 | n/a | 0.2% | |
| BETTER MORTGAGE CORPORATION | $142,305,000 | $23,190,000 | -83.7% | 0.2% |
| UBS Bank USA | $22,920,000 | $21,855,000 | -4.6% | 0.2% |
| Milford Federal Bank | $33,245,000 | $21,490,000 | -35.4% | 0.2% |
| EVERETT FINANCIAL, INC. | $3,810,000 | $20,535,000 | 439.0% | 0.2% |
| Sierra Pacific Mortgage Company, Inc. | $38,350,000 | $19,435,000 | -49.3% | 0.2% |
| Princeton Mortgage Corporation | $19,425,000 | n/a | 0.2% | |
| GREYSTONE SERVICING COMPANY LLC | $14,925,000 | $19,225,000 | 28.8% | 0.2% |
| USAA Federal Savings Bank | $24,875,000 | $18,385,000 | -26.1% | 0.2% |
| FINANCE OF AMERICA MORTGAGE LLC | $30,815,000 | $18,340,000 | -40.5% | 0.2% |
| Enterprise Bank and Trust Company | $18,160,000 | n/a | 0.2% | |
| OCEAN STATE CREDIT UNION | $72,260,000 | $18,000,000 | -75.1% | 0.2% |
| Goldman Sachs Bank USA | $13,535,000 | $17,500,000 | 29.3% | 0.2% |
| The Federal Savings Bank | $53,165,000 | $16,825,000 | -68.4% | 0.2% |
| NORWICH COMMERCIAL GROUP, INC. | $37,505,000 | $16,105,000 | -57.1% | 0.2% |
| StonehamBank, A Co-operative Bank | $4,335,000 | $15,740,000 | 263.1% | 0.2% |
| Dime Bank | $9,745,000 | $15,710,000 | 61.2% | 0.2% |
| OCMBC, INC. | $14,595,000 | $15,080,000 | 3.3% | 0.2% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $40,035,000 | $14,695,000 | -63.3% | 0.1% |
| Citibank | $44,070,000 | $14,470,000 | -67.2% | 0.1% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $35,640,000 | $14,350,000 | -59.7% | 0.1% |
| BROKER SOLUTIONS, INC. | $55,120,000 | $14,310,000 | -74.0% | 0.1% |
| Carrington Mortgage Services, LLC | $28,155,000 | $14,300,000 | -49.2% | 0.1% |
| ENVOY MORTGAGE, LTD | $30,130,000 | $14,270,000 | -52.6% | 0.1% |
| Customers Bank | $385,000 | $13,690,000 | 3,455.8% | 0.1% |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $9,190,000 | $13,305,000 | 44.8% | 0.1% |
| Charles Schwab Bank, SSB | $16,765,000 | $13,190,000 | -21.3% | 0.1% |
| CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $40,640,000 | $12,670,000 | -68.8% | 0.1% |
| HANSCOM | $6,580,000 | $12,245,000 | 86.1% | 0.1% |
| PENTAGON FEDERAL CREDIT UNION | $18,000,000 | $12,170,000 | -32.4% | 0.1% |
| FINANCE OF AMERICA REVERSE LLC | $5,960,000 | $11,390,000 | 91.1% | 0.1% |
| MountainOne Bank | $5,195,000 | $10,845,000 | 108.8% | 0.1% |
| SALEM FIVE MORTGAGE COMPANY, LLC | $15,010,000 | $10,680,000 | -28.8% | 0.1% |
| PNC Bank | $15,665,000 | $10,305,000 | -34.2% | 0.1% |
| Quontic Bank | $9,050,000 | $10,305,000 | 13.9% | 0.1% |
| CMG MORTGAGE, INC. | $25,965,000 | $10,160,000 | -60.9% | 0.1% |
| NORTHPOINT MORTGAGE, INC. | $37,790,000 | $10,010,000 | -73.5% | 0.1% |
| MORTGAGE EQUITY PARTNERS LLC | $9,810,000 | n/a | 0.1% | |
| Chelsea Groton Bank | $8,815,000 | $9,765,000 | 10.8% | 0.1% |
| WAVE FEDERAL CREDIT UNION | $13,275,000 | $9,620,000 | -27.5% | 0.1% |
| City National Bank | $8,630,000 | $9,500,000 | 10.1% | 0.1% |
| RADIUS FINANCIAL GROUP INC. | $25,715,000 | $9,270,000 | -64.0% | 0.1% |
| BNY Mellon | $24,420,000 | $9,200,000 | -62.3% | 0.1% |
| LENDSURE MORTGAGE CORP. | $6,615,000 | $9,140,000 | 38.2% | 0.1% |
| EMM LOANS LLC | $9,130,000 | $8,830,000 | -3.3% | 0.1% |
| St. Anne's Credit Union of Fall River, Mass. | $15,725,000 | $8,270,000 | -47.4% | 0.1% |
| RELIANCE FIRST CAPITAL, LLC | $9,470,000 | $7,815,000 | -17.5% | 0.1% |
| Waterstone Mortgage Corporation | $740,000 | $7,800,000 | 954.1% | 0.1% |
| KeyBank | $57,620,000 | $7,780,000 | -86.5% | 0.1% |
| REVERSE MORTGAGE FUNDING LLC | $10,710,000 | $7,780,000 | -27.4% | 0.1% |
| Southern Mass Credit Union | $15,575,000 | $7,760,000 | -50.2% | 0.1% |
| DRAPER AND KRAMER MORTGAGE CORP. | $15,350,000 | $7,505,000 | -51.1% | 0.1% |
| Charter Oak Federal Credit Union | $6,385,000 | $7,470,000 | 17.0% | 0.1% |
| GUARANTY HOME MORTGAGE CORPORATION | $2,535,000 | $7,165,000 | 182.6% | 0.1% |
| Easthampton Savings Bank | $950,000 | $7,145,000 | 652.1% | 0.1% |
| NEW FED MORTGAGE, CORP. | $10,620,000 | $7,040,000 | -33.7% | 0.1% |
| T2 FINANCIAL LLC | $6,890,000 | n/a | 0.1% | |
| Mechanics Cooperative Bank | $12,285,000 | $6,880,000 | -44.0% | 0.1% |
| SPRING EQ, LLC | $4,300,000 | $6,855,000 | 59.4% | 0.1% |
| Wyndham Capital Mortgage, Inc. | $17,575,000 | $6,845,000 | -61.1% | 0.1% |
| M&T Bank | $8,770,000 | $6,755,000 | -23.0% | 0.1% |
| UniBank for Savings | $8,240,000 | $6,640,000 | -19.4% | 0.1% |
| Chicago Mortgage Solutions LLC | $11,075,000 | $6,470,000 | -41.6% | 0.1% |
| Stifel Bank and Trust | $3,590,000 | $6,400,000 | 78.3% | 0.1% |
| Network Funding, L.P. | $7,125,000 | $6,225,000 | -12.6% | 0.1% |
| EQUITY RESOURCES, INC. | $5,390,000 | $6,095,000 | 13.1% | 0.1% |
| INLAND BANK & TRUST | $14,485,000 | $6,020,000 | -58.4% | 0.1% |
| Prosperity Home Mortgage, LLC | $16,020,000 | $5,950,000 | -62.9% | 0.1% |
| Sharon & Crescent United Credit Union | $4,910,000 | $5,850,000 | 19.1% | 0.1% |
| Equity Prime Mortgage LLC | $6,980,000 | $5,830,000 | -16.5% | 0.1% |
| AMERICAN ADVISORS GROUP | $5,230,000 | $5,595,000 | 7.0% | 0.1% |
| Evolve Bank & Trust | $16,500,000 | $5,585,000 | -66.2% | 0.1% |
| Jewett City Savings Bank | $5,450,000 | $5,515,000 | 1.2% | 0.1% |
| Discover Bank | $5,080,000 | $5,440,000 | 7.1% | 0.1% |
| SILVER HILL FUNDING, LLC | $4,575,000 | $5,290,000 | 15.6% | 0.1% |
| MidFirst Bank | $5,105,000 | n/a | 0.1% | |
| Dean Co-operative Bank | $7,935,000 | $5,090,000 | -35.9% | 0.1% |
| SOFI LENDING CORP. | $13,995,000 | $5,085,000 | -63.7% | 0.1% |
| FIRST MORTGAGE COMPANY, INC. | $5,050,000 | n/a | 0.1% | |
| AMERICAN FINANCING CORPORATION | $8,300,000 | $4,935,000 | -40.5% | 0.0% |
| Hometown Equity Mortgage, LLC | $8,355,000 | $4,925,000 | -41.1% | 0.0% |
| The Camden National Bank | $3,335,000 | $4,870,000 | 46.0% | 0.0% |
| Century Mortgage Company DBA Century Lending Company | $5,000,000 | $4,790,000 | -4.2% | 0.0% |
| First Home Bank | $28,175,000 | $4,770,000 | -83.1% | 0.0% |
| Bank of England | $5,045,000 | $4,745,000 | -5.9% | 0.0% |
| Silicon Valley Bank | $3,500,000 | $4,695,000 | 34.1% | 0.0% |
| Avidia Bank | $12,665,000 | $4,685,000 | -63.0% | 0.0% |
| Figure Lending LLC | $1,670,000 | $4,665,000 | 179.3% | 0.0% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $7,235,000 | $4,660,000 | -35.6% | 0.0% |
| Foxboro Federal Savings | $3,240,000 | $4,650,000 | 43.5% | 0.0% |
| Homestar Mortgage, Inc. | $21,465,000 | $4,645,000 | -78.4% | 0.0% |
| NBKC BANK | $10,275,000 | $4,595,000 | -55.3% | 0.0% |
| Luxury Mortgage Corp. | $7,810,000 | $4,560,000 | -41.6% | 0.0% |
| BAY EQUITY LLC | $2,350,000 | $4,440,000 | 88.9% | 0.0% |
| Ally Bank | $13,680,000 | $4,435,000 | -67.6% | 0.0% |
| Barrington Bank & Trust Company, N.A. | $5,675,000 | $4,365,000 | -23.1% | 0.0% |
| ZILLOW HOME LOANS, LLC | $16,010,000 | $4,345,000 | -72.9% | 0.0% |
| Hometown Bank | $960,000 | $4,260,000 | 343.8% | 0.0% |
| VILLAGE CAPITAL MORTGAGE | $12,445,000 | $4,240,000 | -65.9% | 0.0% |
| Bridgewater Savings Bank | $11,645,000 | $4,185,000 | -64.1% | 0.0% |
| ALLIED MORTGAGE GROUP, INC. | $4,025,000 | $4,005,000 | -0.5% | 0.0% |
| GENEVA FINANCIAL, LLC | $6,940,000 | $3,960,000 | -42.9% | 0.0% |
| MEMBERS MORTGAGE COMPANY, INC. | $3,235,000 | $3,890,000 | 20.2% | 0.0% |
| PHH Mortgage Corporation | $11,710,000 | $3,825,000 | -67.3% | 0.0% |
| BNC National Bank | $9,890,000 | $3,785,000 | -61.7% | 0.0% |
| North American Savings Bank, F.S.B. | $12,425,000 | $3,760,000 | -69.7% | 0.0% |
| AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. | $6,185,000 | $3,710,000 | -40.0% | 0.0% |
| HOMEXPRESS MORTGAGE CORP. | $2,535,000 | $3,690,000 | 45.6% | 0.0% |
| DAS Acquisition Company, LLC | $3,570,000 | n/a | 0.0% | |
| CHURCHILL MORTGAGE CORPORATION | $15,085,000 | $3,540,000 | -76.5% | 0.0% |
| RCN Capital, LLC | $6,350,000 | $3,535,000 | -44.3% | 0.0% |
| BLACKSTONE RIVER FEDERAL CREDIT UNION | $1,335,000 | $3,280,000 | 145.7% | 0.0% |
| FirstBank | $7,540,000 | $3,105,000 | -58.8% | 0.0% |
| ITHINK FINANCIAL Credit Union | $1,890,000 | $3,090,000 | 63.5% | 0.0% |
| HOMESTEAD FUNDING CORP. | $11,630,000 | $3,040,000 | -73.9% | 0.0% |
| VELOCITY COMMERCIAL CAPITAL, LLC | $2,690,000 | $3,000,000 | 11.5% | 0.0% |
| GUIDANCE RESIDENTIAL, LLC | $1,415,000 | $2,985,000 | 111.0% | 0.0% |
| ARC HOME LLC | $4,370,000 | $2,880,000 | -34.1% | 0.0% |
| WILLIAM RAVEIS MORTGAGE, LLC | $2,910,000 | $2,880,000 | -1.0% | 0.0% |
| Dollar Bank, Federal Savings Bank | $8,095,000 | $2,865,000 | -64.6% | 0.0% |
| PLAZA HOME MORTGAGE, INC. | $3,765,000 | $2,815,000 | -25.2% | 0.0% |
| MLD MORTGAGE INC. | $3,365,000 | $2,800,000 | -16.8% | 0.0% |
| RESIDENTIAL MORTGAGE SERVICES, INC. | $312,705,000 | $2,700,000 | -99.1% | 0.0% |
| PeoplesBank | $3,090,000 | $2,660,000 | -13.9% | 0.0% |
| First Savings Bank | $4,250,000 | $2,600,000 | -38.8% | 0.0% |
| First Guaranty Mortgage Corporation | $14,955,000 | $2,555,000 | -82.9% | 0.0% |
| LIMA ONE CAPITAL, LLC | $3,305,000 | $2,555,000 | -22.7% | 0.0% |
| The Huntington National Bank | $2,635,000 | $2,535,000 | -3.8% | 0.0% |
| STEARNS LENDING, LLC | $67,675,000 | $2,530,000 | -96.3% | 0.0% |
| People's United Bank | $11,685,000 | $2,525,000 | -78.4% | 0.0% |
| HARVARD UNIVERSITY EMPLOYEES | $3,455,000 | $2,480,000 | -28.2% | 0.0% |
| Toyota Financial Savings Bank | $6,890,000 | $2,445,000 | -64.5% | 0.0% |
| UNION HOME MORTGAGE CORP. | $2,865,000 | $2,440,000 | -14.8% | 0.0% |
| Cornerstone Bank | $2,695,000 | $2,390,000 | -11.3% | 0.0% |
| Truist | $4,365,000 | $2,345,000 | -46.3% | 0.0% |
| AmeriHome Mortgage Company, LLC | $8,140,000 | $2,340,000 | -71.3% | 0.0% |
| LEADERONE FINANCIAL CORPORATION | $350,000 | $2,225,000 | 535.7% | 0.0% |
| PS FUNDING, INC. | $325,000 | $2,205,000 | 578.5% | 0.0% |
| SUN WEST MORTGAGE COMPANY, INC. | $13,375,000 | $2,165,000 | -83.8% | 0.0% |
| LENDINGONE, LLC | $1,525,000 | $2,155,000 | 41.3% | 0.0% |
| DREW MORTGAGE ASSOCIATES, INC. | $3,120,000 | $2,135,000 | -31.6% | 0.0% |
| Ross Mortgage Company, Inc. | $525,000 | $2,075,000 | 295.2% | 0.0% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $2,870,000 | $2,065,000 | -28.0% | 0.0% |
| TAUNTON FEDERAL CREDIT UNION | $1,685,000 | $2,065,000 | 22.6% | 0.0% |
| CIBC Bank USA | $2,005,000 | n/a | 0.0% | |
| Service Federal Credit Union | $1,220,000 | $2,005,000 | 64.3% | 0.0% |
| Liberty Bank | $3,195,000 | $1,990,000 | -37.7% | 0.0% |
| FALL RIVER MUNICIPAL CREDIT UNION | $2,605,000 | $1,940,000 | -25.5% | 0.0% |
| PLANET HOME LENDING, LLC | $5,825,000 | $1,905,000 | -67.3% | 0.0% |
| AMERICAN INTERNET MORTGAGE, INC. | $8,985,000 | $1,900,000 | -78.9% | 0.0% |
| USAlliance Federal Credit Union | $305,000 | $1,795,000 | 488.5% | 0.0% |
| Poli Mortgage Group, Inc. | $6,695,000 | $1,775,000 | -73.5% | 0.0% |
| DEEPHAVEN MORTGAGE LLC | $1,255,000 | $1,740,000 | 38.6% | 0.0% |
| QUORUM FEDERAL CREDIT UNION | $1,645,000 | $1,720,000 | 4.6% | 0.0% |
| LONGBRIDGE FINANCIAL, LLC | $510,000 | $1,695,000 | 232.4% | 0.0% |
| AMWEST FUNDING CORP. | $305,000 | $1,655,000 | 442.6% | 0.0% |
| Farm Credit East, ACA | $3,885,000 | $1,620,000 | -58.3% | 0.0% |
| KELLER MORTGAGE, LLC | $2,065,000 | $1,535,000 | -25.7% | 0.0% |
| A&D Mortgage LLC | $2,425,000 | $1,520,000 | -37.3% | 0.0% |
| ACADEMY MORTGAGE CORPORATION | $155,000 | $1,505,000 | 871.0% | 0.0% |
| HSBC BANK USA, NATIONAL ASSOCIATION | $1,250,000 | $1,465,000 | 17.2% | 0.0% |
| TEMPLE VIEW CAPITAL FUNDING, LP | $350,000 | $1,440,000 | 311.4% | 0.0% |
| NexBank | $1,420,000 | n/a | 0.0% | |
| First Horizon Bank | $1,415,000 | n/a | 0.0% | |
| First Internet Bank of Indiana | $1,495,000 | $1,390,000 | -7.0% | 0.0% |
| AMERICAN FINANCIAL RESOURCES, INC. | $2,780,000 | $1,360,000 | -51.1% | 0.0% |
| Firstrust Savings Bank | $3,775,000 | $1,355,000 | -64.1% | 0.0% |
| First Federal Bank | $5,390,000 | $1,350,000 | -75.0% | 0.0% |
| Main Street Bank | $3,035,000 | $1,345,000 | -55.7% | 0.0% |
| PREMIA MORTGAGE, LLC | $4,070,000 | $1,345,000 | -67.0% | 0.0% |
| Cambridge Savings Bank | $815,000 | $1,335,000 | 63.8% | 0.0% |
| United Nations Federal Credit Union | $4,150,000 | $1,335,000 | -67.8% | 0.0% |
| Beeline Loans, Inc. | $13,455,000 | $1,330,000 | -90.1% | 0.0% |
| LIBERTY BAY CREDIT UNION | $805,000 | $1,325,000 | 64.6% | 0.0% |
| RTN FEDERAL CREDIT UNION | $1,025,000 | $1,305,000 | 27.3% | 0.0% |
| CONTOUR MORTGAGE CORPORATION | $3,960,000 | $1,300,000 | -67.2% | 0.0% |
| ROCKLAND | $1,730,000 | $1,300,000 | -24.9% | 0.0% |
| Monson Savings Bank | $2,335,000 | $1,275,000 | -45.4% | 0.0% |
| Texana Bank | $1,080,000 | $1,270,000 | 17.6% | 0.0% |
| FIRST WORLD MORTGAGE CORPORATION | $1,900,000 | $1,260,000 | -33.7% | 0.0% |
| The Central Trust Bank | $1,565,000 | $1,245,000 | -20.4% | 0.0% |
| SCIENT Federal Credit Union | $3,080,000 | $1,230,000 | -60.1% | 0.0% |
| POLISH NATIONAL | $2,950,000 | $1,220,000 | -58.6% | 0.0% |
| Charles River Bank | $1,700,000 | $1,180,000 | -30.6% | 0.0% |
| CONWAY FINANCIAL SERVICES, LLC | $1,795,000 | $1,145,000 | -36.2% | 0.0% |
| Ameris Bank | $605,000 | $1,140,000 | 88.4% | 0.0% |
| SIRVA MORTGAGE, INC. | $1,475,000 | $1,135,000 | -23.1% | 0.0% |
| The Cape Cod Five Cents Savings Bank | $735,000 | $1,105,000 | 50.3% | 0.0% |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $4,915,000 | $1,100,000 | -77.6% | 0.0% |
| Farmers Bank & Trust | $1,725,000 | $1,090,000 | -36.8% | 0.0% |
| MID AMERICA MORTGAGE, INC. | $530,000 | $1,075,000 | 102.8% | 0.0% |
| Commerce Home Mortgage, Inc. | $1,065,000 | n/a | 0.0% | |
| ATHAS CAPITAL GROUP, INC. | $625,000 | $1,055,000 | 68.8% | 0.0% |
| NASA Federal Credit Union | $295,000 | $1,050,000 | 255.9% | 0.0% |
| CENTRAL ONE FEDERAL CREDIT UNION | $1,230,000 | $1,045,000 | -15.0% | 0.0% |
| MID-ISLAND MORTGAGE CORP. | $570,000 | $1,010,000 | 77.2% | 0.0% |
| WRIGHT PATMAN CONGRESSIONAL FEDERAL CREDIT UNION | $750,000 | $1,010,000 | 34.7% | 0.0% |
| Salem Five Cents Savings Bank | $790,000 | $975,000 | 23.4% | 0.0% |
| ALIGN CREDIT UNION | $965,000 | n/a | 0.0% | |
| Wakefield Co-operative Bank | $920,000 | n/a | 0.0% | |
| Needham Bank | $1,075,000 | $915,000 | -14.9% | 0.0% |
| Plains Commerce Bank | $895,000 | n/a | 0.0% | |
| THRIVENT Federal Credit Union | $1,355,000 | $880,000 | -35.1% | 0.0% |
| Dedham Institution for Savings | $770,000 | $835,000 | 8.4% | 0.0% |
| Westfield Bank | $305,000 | $835,000 | 173.8% | 0.0% |
| Axos Bank | $1,665,000 | $800,000 | -52.0% | 0.0% |
| Two Rivers Bank & Trust | $755,000 | n/a | 0.0% | |
| Actors Federal Credit Union | $690,000 | n/a | 0.0% | |
| Commercial Lender LLC | $1,575,000 | $685,000 | -56.5% | 0.0% |
| Webster Five Cents Savings Bank | $2,110,000 | $685,000 | -67.5% | 0.0% |
| EASTERN CONNECTICUT SAVINGS BANK | $3,915,000 | $680,000 | -82.6% | 0.0% |
| FBC MORTGAGE, LLC | $680,000 | n/a | 0.0% | |
| MERRIMACK VALLEY | $675,000 | n/a | 0.0% | |
| Baxter Credit Union | $3,515,000 | $670,000 | -80.9% | 0.0% |
| State Department Federal Credit Union | $665,000 | n/a | 0.0% | |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $500,000 | $650,000 | 30.0% | 0.0% |
| Magnolia Bank | $4,330,000 | $650,000 | -85.0% | 0.0% |
| Cf Bank | $4,775,000 | $640,000 | -86.6% | 0.0% |
| GFA Federal Credit Union | $640,000 | n/a | 0.0% | |
| Old National Bank | $615,000 | n/a | 0.0% | |
| DOMINION FINANCIAL SERVICES, LLC | $17,885,000 | $610,000 | -96.6% | 0.0% |
| Low VA Rates, LLC | $4,995,000 | $605,000 | -87.9% | 0.0% |
| The Union Bank Company | $2,100,000 | $600,000 | -71.4% | 0.0% |
| MORTGAGE MARKETS CUSO, LLC | $590,000 | n/a | 0.0% | |
| Clinton Savings Bank | $205,000 | $585,000 | 185.4% | 0.0% |
| Citadel Servicing Corporation | $580,000 | n/a | 0.0% | |
| Eagle Bank | $575,000 | n/a | 0.0% | |
| Wintrust Bank, N.A. | $575,000 | n/a | 0.0% | |
| ALLIANT CREDIT UNION | $1,020,000 | $565,000 | -44.6% | 0.0% |
| WEBSTER FIRST Federal Credit Union | $1,005,000 | $560,000 | -44.3% | 0.0% |
| Armed Forces Bank | $555,000 | n/a | 0.0% | |
| ADVANCIAL | $795,000 | $545,000 | -31.4% | 0.0% |
| American Broadcast Employees Federal Credit Union | $535,000 | n/a | 0.0% | |
| FineMark National Bank & Trust | $525,000 | n/a | 0.0% | |
| MORTGAGE ACCESS CORP. | $295,000 | $520,000 | 76.3% | 0.0% |
| AMERICAN HERITAGE LENDING, INC. | $510,000 | n/a | 0.0% | |
| North Brookfield Savings Bank | $510,000 | n/a | 0.0% | |
| STANFORD Federal Credit Union | $500,000 | n/a | 0.0% | |
| NATIONWIDE MORTGAGE BANKERS, INC. | $1,605,000 | $475,000 | -70.4% | 0.0% |
| MASSMUTUAL | $330,000 | $465,000 | 40.9% | 0.0% |
| First United Bank and Trust Company | $175,000 | $455,000 | 160.0% | 0.0% |
| South State Bank | $455,000 | n/a | 0.0% | |
| VAN DYK MORTGAGE CORPORATION | $455,000 | n/a | 0.0% | |
| Advisors Mortgage Group, L.L.C. | $620,000 | $445,000 | -28.2% | 0.0% |
| Bethpage Federal Credit Union | $1,920,000 | $445,000 | -76.8% | 0.0% |
| CHEVRON | $435,000 | n/a | 0.0% | |
| EagleBank | $1,060,000 | $435,000 | -59.0% | 0.0% |
| US MORTGAGE CORPORATION | $435,000 | n/a | 0.0% | |
| LENOX FINANCIAL MORTGAGE CORPORATION | $265,000 | $430,000 | 62.3% | 0.0% |
| First Central Savings Bank | $425,000 | n/a | 0.0% | |
| OAKTREE FUNDING CORP. | $425,000 | n/a | 0.0% | |
| SUCCESS MORTGAGE PARTNERS, INC. | $425,000 | n/a | 0.0% | |
| CREDIT UNION MORTGAGE ASSOCIATION, INC. | $1,060,000 | $420,000 | -60.4% | 0.0% |
| MILLBURY FEDERAL CREDIT UNION | $1,195,000 | $420,000 | -64.9% | 0.0% |
| LIBERTY HOME MORTGAGE CORPORATION | $410,000 | n/a | 0.0% | |
| STAR ONE CREDIT UNION | $405,000 | n/a | 0.0% | |
| UNITED NORTHERN MORTGAGE BANKERS LIMITED | $405,000 | n/a | 0.0% | |
| HUNT MORTGAGE CORPORATION | $385,000 | n/a | 0.0% | |
| GREENSTATE CREDIT UNION | $375,000 | n/a | 0.0% | |
| NJ LENDERS CORP. | $365,000 | n/a | 0.0% | |
| The Northern Trust Company | $10,720,000 | $365,000 | -96.6% | 0.0% |
| ANGEL OAK HOME LOANS LLC | $3,555,000 | $360,000 | -89.9% | 0.0% |
| Cape Cod Co-operative Bank | $345,000 | n/a | 0.0% | |
| FIRST CITIZENS' FEDERAL CREDIT UNION | $335,000 | n/a | 0.0% | |
| GuardHill Financial Corp. | $325,000 | n/a | 0.0% | |
| Northern Bank & Trust Company | $1,605,000 | $325,000 | -79.8% | 0.0% |
| COMMUNITY CREDIT UNION OF LYNN | $315,000 | n/a | 0.0% | |
| MASS BAY Credit Union | $315,000 | n/a | 0.0% | |
| Bank-Fund Staff Federal Credit Union | $2,005,000 | $305,000 | -84.8% | 0.0% |
| Chickasaw Community Bank | $305,000 | n/a | 0.0% | |
| CITIZENS EQUITY FIRST | $305,000 | n/a | 0.0% | |
| Strong Home Mortgage, LLC | $1,460,000 | $305,000 | -79.1% | 0.0% |
| FARMERS INSURANCE GROUP FEDERAL CREDIT UNION | $35,000 | $300,000 | 757.1% | 0.0% |
| Community First National Bank | $185,000 | $295,000 | 59.5% | 0.0% |
| CRESCENT MORTGAGE COMPANY | $295,000 | n/a | 0.0% | |
| UNITED MORTGAGE CORP. | $1,025,000 | $295,000 | -71.2% | 0.0% |
| ABINGTON BANK | $165,000 | $285,000 | 72.7% | 0.0% |
| BAYSHORE MORTGAGE FUNDING, LLC | $2,355,000 | $285,000 | -87.9% | 0.0% |
| DELMAR FINANCIAL COMPANY | $285,000 | n/a | 0.0% | |
| LAND HOME FINANCIAL SERVICES, INC. | $4,075,000 | $285,000 | -93.0% | 0.0% |
| New Bedford Credit Union | $245,000 | $285,000 | 16.3% | 0.0% |
| Notre Dame Federal Credit Union Corporation | $275,000 | n/a | 0.0% | |
| The Bank of Canton | $5,000,000 | $275,000 | -94.5% | 0.0% |
| Elements Financial Federal Credit Union | $25,000 | $265,000 | 960.0% | 0.0% |
| Fidelity Bank | $405,000 | $265,000 | -34.6% | 0.0% |
| Raymond James Bank | $1,600,000 | $255,000 | -84.1% | 0.0% |
| Colonial Savings, F.A. | $875,000 | $245,000 | -72.0% | 0.0% |
| First National Bank of America | $355,000 | $245,000 | -31.0% | 0.0% |
| SOUTHCOAST FEDERAL CREDIT UNION | $245,000 | n/a | 0.0% | |
| NP, Inc. | $4,280,000 | $235,000 | -94.5% | 0.0% |
| Blue Ridge Bank | $2,345,000 | $225,000 | -90.4% | 0.0% |
| CorePlus Federal Credit Union | $1,045,000 | $220,000 | -78.9% | 0.0% |
| NORTH COUNTRY | $85,000 | $205,000 | 141.2% | 0.0% |
| Northwest Federal Credit Union | $195,000 | n/a | 0.0% | |
| American Airlines Federal Credit Union | $185,000 | n/a | 0.0% | |
| ANCHOR LOANS, LP | $175,000 | n/a | 0.0% | |
| OCEANSIDE MORTGAGE COMPANY | $1,465,000 | $175,000 | -88.1% | 0.0% |
| Stoughton Co-Operative Bank | $175,000 | n/a | 0.0% | |
| Sunflower Bank | $820,000 | $155,000 | -81.1% | 0.0% |
| IMPAC MORTGAGE CORP. | $175,000 | $115,000 | -34.3% | 0.0% |
| N R L Federal Credit Union | $105,000 | n/a | 0.0% | |
| NUTMEG STATE FINANCIAL | $105,000 | n/a | 0.0% | |
| RUOFF MORTGAGE COMPANY, INC. | $1,025,000 | $105,000 | -89.8% | 0.0% |
| Westport Federal Credit Union | $555,000 | $100,000 | -82.0% | 0.0% |
| MMS MORTGAGE SERVICES, LTD. | $85,000 | n/a | 0.0% | |
| GREYLOCK | $75,000 | n/a | 0.0% | |
| City of Boston Credit Union | $1,075,000 | $65,000 | -94.0% | 0.0% |
| Tewksbury Federal Credit Union | $55,000 | n/a | 0.0% | |
| AFL CIO EMPLOYEES FEDERAL CREDIT UNION | $45,000 | n/a | 0.0% | |
| UNIFY FINANCIAL Credit Union | $45,000 | n/a | 0.0% | |
| Southwest Airlines Federal Credit Union | $35,000 | n/a | 0.0% |
Rhode Island's top lender by overall market share is Citizens Bank, with 7.4% market share. In second place, with 4.7%, is Navigant Credit Union, having originated $469,955,000 in loans. In third place, with 3.8%, is PAWTUCKET, having originated $379,985,000 in loans. In fourth place, with 3.4%, is MOVEMENT MORTGAGE, LLC, having originated $338,030,000 in loans. In fifth place, with 3.4%, is The Washington Trust Company, of Westerly, having originated $337,055,000 in loans.
Rhode Island Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 12,983 | $5,010,015,000 | $385,890 |
| Cash Out Refi | 6,119 | $1,878,945,000 | $307,067 |
| Refi | 5,137 | $1,878,915,000 | $365,761 |
| Home Improvement | 4,834 | $634,390,000 | $131,235 |
| Other | 3,099 | $463,395,000 | $149,530 |
| NA | 4 | $35,000,000 | $8,750,000 |
Rhode Island's most frequently cited loan purpose was Home Purchase, with 12,983 originations. The 2nd most popular reason was Cash Out Refi, with 6,119 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 8,150 | $2,659,690,000 | $326,342 |
| 4-5% | 7,163 | $2,505,975,000 | $349,850 |
| 5-6% | 6,625 | $2,074,435,000 | $313,122 |
| 6-7% | 3,191 | $884,695,000 | $277,247 |
| 2.5-3% | 3,109 | $884,095,000 | $284,366 |
| <2.5% | 2,049 | $450,445,000 | $219,837 |
| 7-8% | 1,009 | $229,775,000 | $227,725 |
| Over 8% | 674 | $97,340,000 | $144,421 |
During 2022, Rhode Island's most frequently originated rate bucket was 3-4%, with 8,150 originations.
Loan Sizing (Rhode Island MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 13,627 | $3,939,595,000 | $289,102 |
| $100k-200k | 6,582 | $936,940,000 | $142,349 |
| $100,000 or less | 6,166 | $325,030,000 | $52,713 |
| $400k-600k | 3,988 | $1,886,190,000 | $472,966 |
| $600k-1000k | 1,282 | $929,860,000 | $725,320 |
| $Over $1MM | 531 | $1,883,045,000 | $3,546,224 |
Rhode Island's loan sizing saw the bucket of loans from $200k-400k with 13,627 originations, totaling $3,939,595,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 8,372 | $3,192,670,000 | $381,351 |
| 60-80% | 7,771 | $3,401,455,000 | $437,711 |
| Under 20% | 5,664 | $390,870,000 | $69,010 |
| 20-40% | 5,130 | $1,027,620,000 | $200,316 |
| 40-60% | 4,215 | $1,598,875,000 | $379,330 |
| Over 100% | 214 | $103,940,000 | $485,701 |
Rhode Island's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 8,372 originations, totaling $3,192,670,000 in origination value.