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
6.78%
for the week of 2024-11-14, compared to the national average of
6.78% for the same period.
The average rate for the prior week (2024-11-07) was
6.69% and
one month ago for the week of 2024-10-10, the
average rate was 6.22%.
Rhode Island's average rate one year ago was 7.3%.
For refis of the same type during the week of 2024-11-14, the average rate
was 6.9%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-14 | 6.78% |
| Rhode Island 30 Year Fixed Rate | 2024-11-14 | 6.78% |
| Rhode Island 30 Year Fixed Rate Refi | 2024-11-14 | 6.9% |
| Rhode Island 15 Year Fixed Rate | 2024-11-14 | 5.93% |
| Rhode Island 15 Year Fixed Rate Refi | 2024-11-14 | 6.59% |
| Rhode Island 30 Year FHA | 2024-11-14 | -0.19% |
| Rhode Island 30 Year FHA Refi | 2024-11-14 | 0.1% |
| Rhode Island 30 Year USDA | 2024-11-14 | -0.1% |
| Rhode Island 30 Year USDA Refi | 2024-11-14 | 0% |
| Rhode Island 30 Year VA | 2024-11-14 | 0.08% |
| Rhode Island 30 Year VA Refi | 2024-11-14 | -0.2% |
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 241 lenders originated 20,621
loans during 2023. The total origination value was $5,990,335,000, with an average loan value of
$290,497.
Rhode Island's average closing costs are $5,563.
The top Rhode Island lender as defined by loan originations is Navigant Credit Union, with
453 loans originated. Their average total fees are
$3,526, which is $2,549
lower than the next largest lender,
MOVEMENT MORTGAGE, LLC.
The lowest fee Rhode Island lenders (with over 10 loans originated) are
OCEAN STATE CREDIT UNION ($2,891), Charter Oak Federal Credit Union ($2,904), Milford Federal Bank ($3,466), Navigant Credit Union ($3,526) and PAWTUCKET ($3,719).
The lowest rate Rhode Island lenders (with over 10 loans originated) are
Charter Oak Federal Credit Union (5.01%), OCEAN STATE CREDIT UNION (5.53%), St. Anne's Credit Union of Fall River, Mass. (5.54%), Centreville Bank (5.64%) and Easthampton Savings Bank (5.80%).
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 | 2022 Loan Value | 2023 Loan Value | % Change | 2023 Market Share |
|---|---|---|---|---|
| Citizens Bank | $730,525,000 | $517,125,000 | -29.2% | 8.6% |
| Navigant Credit Union | $469,955,000 | $345,085,000 | -26.6% | 5.8% |
| MOVEMENT MORTGAGE, LLC | $338,030,000 | $318,750,000 | -5.7% | 5.3% |
| The Washington Trust Company, of Westerly | $337,055,000 | $224,695,000 | -33.3% | 3.8% |
| PAWTUCKET | $379,985,000 | $203,900,000 | -46.3% | 3.4% |
| NFM, INC. | $269,685,000 | $198,485,000 | -26.4% | 3.3% |
| BankNewport | $242,205,000 | $188,540,000 | -22.2% | 3.1% |
| Centreville Bank | $143,405,000 | $180,220,000 | 25.7% | 3.0% |
| QUICKEN LOANS, LLC | $304,990,000 | $163,400,000 | -46.4% | 2.7% |
| Shamrock Home Loans, Inc. | $140,400,000 | $138,575,000 | -1.3% | 2.3% |
| Bank Rhode Island | $238,365,000 | $128,950,000 | -45.9% | 2.2% |
| GUILD MORTGAGE COMPANY | $149,700,000 | $118,375,000 | -20.9% | 2.0% |
| BAYCOAST MORTGAGE COMPANY, LLC | $203,280,000 | $117,160,000 | -42.4% | 2.0% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $128,355,000 | $107,460,000 | -16.3% | 1.8% |
| Semper Home Loans, Inc. | $123,595,000 | $106,210,000 | -14.1% | 1.8% |
| UNITED WHOLESALE MORTGAGE, LLC | $172,440,000 | $105,510,000 | -38.8% | 1.8% |
| Bank of America | $199,835,000 | $92,275,000 | -53.8% | 1.5% |
| Northpointe Bank | $165,025,000 | $90,390,000 | -45.2% | 1.5% |
| Eastern Bank | $77,650,000 | $81,305,000 | 4.7% | 1.4% |
| GUARANTEED RATE, INC. | $164,330,000 | $70,925,000 | -56.8% | 1.2% |
| JPMorgan Chase Bank | $116,095,000 | $67,240,000 | -42.1% | 1.1% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $124,290,000 | $67,215,000 | -45.9% | 1.1% |
| CROSSCOUNTRY MORTGAGE, LLC | $82,620,000 | $64,910,000 | -21.4% | 1.1% |
| BERKELEY POINT CAPITAL LLC | $24,415,000 | $62,100,000 | 154.4% | 1.0% |
| WALKER & DUNLOP, LLC | $108,320,000 | $55,065,000 | -49.2% | 0.9% |
| TOTAL MORTGAGE SERVICES, LLC | $87,250,000 | $53,390,000 | -38.8% | 0.9% |
| RF Renovo Management Company, LLC | $58,285,000 | $52,945,000 | -9.2% | 0.9% |
| MORTGAGE EQUITY PARTNERS LLC | $9,810,000 | $50,745,000 | 417.3% | 0.8% |
| PROVINCE MORTGAGE ASSOCIATES, INC. | $76,310,000 | $50,495,000 | -33.8% | 0.8% |
| NAVY FEDERAL CREDIT UNION | $80,255,000 | $49,755,000 | -38.0% | 0.8% |
| HARBORONE MORTGAGE, LLC | $96,980,000 | $47,840,000 | -50.7% | 0.8% |
| Home Loan Investment Bank, F.S.B. | $66,470,000 | $47,790,000 | -28.1% | 0.8% |
| Webster Bank | $115,500,000 | $47,580,000 | -58.8% | 0.8% |
| LOANDEPOT.COM, LLC | $100,155,000 | $46,975,000 | -53.1% | 0.8% |
| GREENWOOD | $61,505,000 | $44,650,000 | -27.4% | 0.7% |
| NEWREZ LLC | $38,960,000 | $43,080,000 | 10.6% | 0.7% |
| TD Bank | $127,595,000 | $40,310,000 | -68.4% | 0.7% |
| Fall River Five Cents Savings Bank | $64,415,000 | $35,965,000 | -44.2% | 0.6% |
| Mortgage Research Center, LLC | $55,765,000 | $35,820,000 | -35.8% | 0.6% |
| GUARANTEED RATE AFFINITY, LLC | $95,300,000 | $34,585,000 | -63.7% | 0.6% |
| The People's Credit Union | $53,845,000 | $33,100,000 | -38.5% | 0.6% |
| PENNYMAC LOAN SERVICES, LLC | $71,400,000 | $32,715,000 | -54.2% | 0.5% |
| BERKADIA COMMERCIAL MORTGAGE LLC | $34,905,000 | $30,470,000 | -12.7% | 0.5% |
| DIGITAL Federal Credit Union | $59,885,000 | $29,600,000 | -50.6% | 0.5% |
| U.S. Bank | $46,675,000 | $28,310,000 | -39.3% | 0.5% |
| Berkshire Bank | $38,130,000 | $27,875,000 | -26.9% | 0.5% |
| BayCoast Bank | $110,360,000 | $26,610,000 | -75.9% | 0.4% |
| Paramount Residential Mortgage Group, Inc. | $26,075,000 | $26,300,000 | 0.9% | 0.4% |
| Morgan Stanley Private Bank | $39,670,000 | $24,965,000 | -37.1% | 0.4% |
| EMBRACE HOME LOANS, INC. | $62,300,000 | $24,145,000 | -61.2% | 0.4% |
| HarborOne Bank | $57,345,000 | $23,910,000 | -58.3% | 0.4% |
| Rockland Trust Company | $123,935,000 | $23,850,000 | -80.8% | 0.4% |
| Wells Fargo Bank | $71,655,000 | $23,505,000 | -67.2% | 0.4% |
| Leader Bank | $52,345,000 | $22,695,000 | -56.6% | 0.4% |
| Easthampton Savings Bank | $7,145,000 | $21,850,000 | 205.8% | 0.4% |
| FIRST HOME MORTGAGE CORPORATION | $25,015,000 | $21,580,000 | -13.7% | 0.4% |
| Bristol County Savings Bank | $101,270,000 | $21,160,000 | -79.1% | 0.4% |
| CMG MORTGAGE, INC. | $10,160,000 | $20,395,000 | 100.7% | 0.3% |
| Citibank | $14,470,000 | $20,185,000 | 39.5% | 0.3% |
| Rhode Island Credit Union | $32,925,000 | $19,670,000 | -40.3% | 0.3% |
| HOMESPIRE MORTGAGE CORPORATION | $25,220,000 | $19,250,000 | -23.7% | 0.3% |
| Mr. Cooper ( Nationstar Mortgage ) | $58,060,000 | $18,925,000 | -67.4% | 0.3% |
| FREEDOM MORTGAGE CORPORATION | $67,630,000 | $18,430,000 | -72.7% | 0.3% |
| Waterstone Mortgage Corporation | $7,800,000 | $16,550,000 | 112.2% | 0.3% |
| Westfield Bank | $835,000 | $15,870,000 | 1,800.6% | 0.3% |
| WASHINGTON TRUST MORTGAGE COMPANY LLC | $35,680,000 | $15,345,000 | -57.0% | 0.3% |
| Dime Bank | $15,710,000 | $15,115,000 | -3.8% | 0.3% |
| WESTERLY COMMUNITY | $28,325,000 | $14,425,000 | -49.1% | 0.2% |
| Flagstar Bank, FSB | $143,940,000 | $14,220,000 | -90.1% | 0.2% |
| DAS Acquisition Company, LLC | $3,570,000 | $14,155,000 | 296.5% | 0.2% |
| Prudential Huntoon Paige Associates, LLC | $41,635,000 | $12,835,000 | -69.2% | 0.2% |
| USAA Federal Savings Bank | $18,385,000 | $12,705,000 | -30.9% | 0.2% |
| NORWICH COMMERCIAL GROUP, INC. | $16,105,000 | $12,600,000 | -21.8% | 0.2% |
| Needham Bank | $915,000 | $12,505,000 | 1,266.7% | 0.2% |
| AMERISAVE MORTGAGE CORPORATION | $50,880,000 | $12,250,000 | -75.9% | 0.2% |
| BROKER SOLUTIONS, INC. | $14,310,000 | $11,900,000 | -16.8% | 0.2% |
| Milford Federal Bank | $21,490,000 | $11,435,000 | -46.8% | 0.2% |
| UBS Bank USA | $21,855,000 | $11,235,000 | -48.6% | 0.2% |
| Discover Bank | $5,440,000 | $11,060,000 | 103.3% | 0.2% |
| NORTHPOINT MORTGAGE, INC. | $10,010,000 | $10,855,000 | 8.4% | 0.2% |
| DOMINION FINANCIAL SERVICES, LLC | $610,000 | $10,705,000 | 1,654.9% | 0.2% |
| Sierra Pacific Mortgage Company, Inc. | $19,435,000 | $10,685,000 | -45.0% | 0.2% |
| First Republic Bank | $61,650,000 | $10,595,000 | -82.8% | 0.2% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $14,350,000 | $10,440,000 | -27.2% | 0.2% |
| PNC Bank | $10,305,000 | $10,375,000 | 0.7% | 0.2% |
| ARC HOME LLC | $2,880,000 | $10,230,000 | 255.2% | 0.2% |
| Ixonia Bank | $24,285,000 | $9,860,000 | -59.4% | 0.2% |
| Chelsea Groton Bank | $9,765,000 | $9,555,000 | -2.2% | 0.2% |
| OCEAN STATE CREDIT UNION | $18,000,000 | $9,530,000 | -47.1% | 0.2% |
| American Mortgage & Equity Consultants, Inc. | $9,400,000 | n/a | 0.2% | |
| WAVE FEDERAL CREDIT UNION | $9,620,000 | $9,270,000 | -3.6% | 0.2% |
| Northern Bank & Trust Company | $325,000 | $8,805,000 | 2,609.2% | 0.1% |
| SALEM FIVE MORTGAGE COMPANY, LLC | $10,680,000 | $8,560,000 | -19.9% | 0.1% |
| FINANCE OF AMERICA REVERSE LLC | $11,390,000 | $8,540,000 | -25.0% | 0.1% |
| Bridgewater Savings Bank | $4,185,000 | $8,295,000 | 98.2% | 0.1% |
| St. Anne's Credit Union of Fall River, Mass. | $8,270,000 | $8,220,000 | -0.6% | 0.1% |
| The Huntington National Bank | $2,535,000 | $8,185,000 | 222.9% | 0.1% |
| The Federal Savings Bank | $16,825,000 | $8,100,000 | -51.9% | 0.1% |
| OCMBC, INC. | $15,080,000 | $8,090,000 | -46.4% | 0.1% |
| AMERICAN FINANCIAL NETWORK, INC. | $8,045,000 | n/a | 0.1% | |
| LEADERONE FINANCIAL CORPORATION | $2,225,000 | $7,965,000 | 258.0% | 0.1% |
| BAY EQUITY LLC | $4,440,000 | $7,705,000 | 73.5% | 0.1% |
| WALL STREET MORTGAGE BANKERS, LTD. | $7,670,000 | n/a | 0.1% | |
| RELIANCE FIRST CAPITAL, LLC | $7,815,000 | $7,605,000 | -2.7% | 0.1% |
| Avidia Bank | $4,685,000 | $7,475,000 | 59.6% | 0.1% |
| RADIUS FINANCIAL GROUP INC. | $9,270,000 | $7,445,000 | -19.7% | 0.1% |
| Nations Lending Corporation | $36,350,000 | $7,440,000 | -79.5% | 0.1% |
| EVERETT FINANCIAL, INC. | $20,535,000 | $7,420,000 | -63.9% | 0.1% |
| Carrington Mortgage Services, LLC | $14,300,000 | $7,400,000 | -48.3% | 0.1% |
| LAKEVIEW LOAN SERVICING, LLC | $35,745,000 | $7,380,000 | -79.4% | 0.1% |
| Raymond James Bank | $255,000 | $7,345,000 | 2,780.4% | 0.1% |
| RCN Capital, LLC | $3,535,000 | $7,230,000 | 104.5% | 0.1% |
| NBKC BANK | $4,595,000 | $7,100,000 | 54.5% | 0.1% |
| Charter Oak Federal Credit Union | $7,470,000 | $7,080,000 | -5.2% | 0.1% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $14,695,000 | $6,885,000 | -53.1% | 0.1% |
| ENVOY MORTGAGE, LTD | $14,270,000 | $6,680,000 | -53.2% | 0.1% |
| HOMEXPRESS MORTGAGE CORP. | $3,690,000 | $6,415,000 | 73.8% | 0.1% |
| Princeton Mortgage Corporation | $19,425,000 | $6,260,000 | -67.8% | 0.1% |
| MutualOne Bank | $6,015,000 | n/a | 0.1% | |
| BNY Mellon | $9,200,000 | $6,005,000 | -34.7% | 0.1% |
| T2 FINANCIAL LLC | $6,890,000 | $5,950,000 | -13.6% | 0.1% |
| AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. | $3,710,000 | $5,840,000 | 57.4% | 0.1% |
| NATIONS DIRECT MORTGAGE, LLC | $5,730,000 | n/a | 0.1% | |
| LONGBRIDGE FINANCIAL, LLC | $1,695,000 | $5,720,000 | 237.5% | 0.1% |
| CARDINAL FINANCIAL | $12,670,000 | $5,415,000 | -57.3% | 0.1% |
| Hometown Equity Mortgage, LLC | $4,925,000 | $5,380,000 | 9.2% | 0.1% |
| Mechanics Cooperative Bank | $6,880,000 | $5,350,000 | -22.2% | 0.1% |
| CHURCHILL MORTGAGE CORPORATION | $3,540,000 | $5,215,000 | 47.3% | 0.1% |
| Goldman Sachs Bank USA | $17,500,000 | $5,215,000 | -70.2% | 0.1% |
| BETTER MORTGAGE CORPORATION | $23,190,000 | $4,635,000 | -80.0% | 0.1% |
| UniBank for Savings | $6,640,000 | $4,495,000 | -32.3% | 0.1% |
| City National Bank | $9,500,000 | $4,430,000 | -53.4% | 0.1% |
| PENTAGON FEDERAL CREDIT UNION | $12,170,000 | $4,390,000 | -63.9% | 0.1% |
| VELOCITY COMMERCIAL CAPITAL, LLC | $3,000,000 | $4,345,000 | 44.8% | 0.1% |
| Commerce Home Mortgage, Inc. | $1,065,000 | $4,240,000 | 298.1% | 0.1% |
| FIRST COMMUNITY MORTGAGE, INC. | $4,225,000 | n/a | 0.1% | |
| Farm Credit East, ACA | $1,620,000 | $4,160,000 | 156.8% | 0.1% |
| Dean Co-operative Bank | $5,090,000 | $4,140,000 | -18.7% | 0.1% |
| WEBSTER FIRST Federal Credit Union | $560,000 | $4,115,000 | 634.8% | 0.1% |
| DRAPER AND KRAMER MORTGAGE CORP. | $7,505,000 | $3,995,000 | -46.8% | 0.1% |
| StonehamBank, A Co-operative Bank | $15,740,000 | $3,985,000 | -74.7% | 0.1% |
| Evolve Bank & Trust | $5,585,000 | $3,975,000 | -28.8% | 0.1% |
| Charles Schwab Bank, SSB | $13,190,000 | $3,930,000 | -70.2% | 0.1% |
| Prosperity Home Mortgage, LLC | $5,950,000 | $3,880,000 | -34.8% | 0.1% |
| SOMERSET | $3,855,000 | n/a | 0.1% | |
| M&T Bank | $6,755,000 | $3,850,000 | -43.0% | 0.1% |
| CIBM Bank | $3,745,000 | n/a | 0.1% | |
| A&D Mortgage LLC | $1,520,000 | $3,700,000 | 143.4% | 0.1% |
| PeoplesBank | $2,660,000 | $3,515,000 | 32.1% | 0.1% |
| FIRST MORTGAGE COMPANY, INC. | $5,050,000 | $3,415,000 | -32.4% | 0.1% |
| JMAC LENDING, INC. | $3,330,000 | n/a | 0.1% | |
| Stifel Bank and Trust | $6,400,000 | $3,280,000 | -48.8% | 0.1% |
| EMM LOANS LLC | $8,830,000 | $3,270,000 | -63.0% | 0.1% |
| BMO Harris Bank | $3,155,000 | n/a | 0.1% | |
| The Camden National Bank | $4,870,000 | $3,110,000 | -36.1% | 0.1% |
| FALL RIVER MUNICIPAL CREDIT UNION | $1,940,000 | $3,075,000 | 58.5% | 0.1% |
| ZILLOW HOME LOANS, LLC | $4,345,000 | $3,060,000 | -29.6% | 0.1% |
| NATIONS RELIABLE LENDING, LLC | $3,030,000 | n/a | 0.1% | |
| First Savings Bank | $2,600,000 | $2,975,000 | 14.4% | 0.0% |
| PHH Mortgage Corporation | $3,825,000 | $2,970,000 | -22.4% | 0.0% |
| AMWEST FUNDING CORP. | $1,655,000 | $2,895,000 | 74.9% | 0.0% |
| Jewett City Savings Bank | $5,515,000 | $2,895,000 | -47.5% | 0.0% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $650,000 | $2,885,000 | 343.8% | 0.0% |
| Dedham Institution for Savings | $835,000 | $2,855,000 | 241.9% | 0.0% |
| ROCKLAND | $1,300,000 | $2,780,000 | 113.8% | 0.0% |
| Cornerstone Bank | $2,390,000 | $2,680,000 | 12.1% | 0.0% |
| VILLAGE CAPITAL MORTGAGE | $4,240,000 | $2,675,000 | -36.9% | 0.0% |
| Windosr Federal Savings & Loan Association | $2,645,000 | n/a | 0.0% | |
| NATIONWIDE MORTGAGE BANKERS, INC. | $475,000 | $2,630,000 | 453.7% | 0.0% |
| LIMA ONE CAPITAL, LLC | $2,555,000 | $2,580,000 | 1.0% | 0.0% |
| WILLIAM RAVEIS MORTGAGE, LLC | $2,880,000 | $2,470,000 | -14.2% | 0.0% |
| Truist | $2,345,000 | $2,460,000 | 4.9% | 0.0% |
| Citadel Servicing Corporation | $580,000 | $2,455,000 | 323.3% | 0.0% |
| TAUNTON FEDERAL CREDIT UNION | $2,065,000 | $2,415,000 | 16.9% | 0.0% |
| SPRING EQ, LLC | $6,855,000 | $2,385,000 | -65.2% | 0.0% |
| Network Funding, L.P. | $6,225,000 | $2,270,000 | -63.5% | 0.0% |
| Quontic Bank | $10,305,000 | $2,250,000 | -78.2% | 0.0% |
| Liberty Bank | $1,990,000 | $2,225,000 | 11.8% | 0.0% |
| LENDSURE MORTGAGE CORP. | $9,140,000 | $2,180,000 | -76.1% | 0.0% |
| RBC Bank, (Georgia) | $2,115,000 | n/a | 0.0% | |
| GENEVA FINANCIAL, LLC | $3,960,000 | $2,050,000 | -48.2% | 0.0% |
| Magnolia Bank | $650,000 | $2,030,000 | 212.3% | 0.0% |
| Figure Lending LLC | $4,665,000 | $2,025,000 | -56.6% | 0.0% |
| AMERICAN FINANCIAL RESOURCES, INC. | $1,360,000 | $2,010,000 | 47.8% | 0.0% |
| The Central Trust Bank | $1,245,000 | $2,000,000 | 60.6% | 0.0% |
| Baxter Credit Union | $670,000 | $1,995,000 | 197.8% | 0.0% |
| SUN WEST MORTGAGE COMPANY, INC. | $2,165,000 | $1,965,000 | -9.2% | 0.0% |
| Wilmington Savings Fund Society, FSB | $1,865,000 | n/a | 0.0% | |
| Sharon & Crescent United Credit Union | $5,850,000 | $1,855,000 | -68.3% | 0.0% |
| Southern Mass Credit Union | $7,760,000 | $1,835,000 | -76.4% | 0.0% |
| HANSCOM | $12,245,000 | $1,815,000 | -85.2% | 0.0% |
| Commercial Lender LLC | $685,000 | $1,750,000 | 155.5% | 0.0% |
| Southern States Bank | $1,725,000 | n/a | 0.0% | |
| BLACKSTONE RIVER FEDERAL CREDIT UNION | $3,280,000 | $1,705,000 | -48.0% | 0.0% |
| KeyBank | $7,780,000 | $1,675,000 | -78.5% | 0.0% |
| Equity Prime Mortgage LLC | $5,830,000 | $1,670,000 | -71.4% | 0.0% |
| Main Street Bank | $1,345,000 | $1,640,000 | 21.9% | 0.0% |
| NP, Inc. | $235,000 | $1,615,000 | 587.2% | 0.0% |
| POLARIS HOME FUNDING CORP. | $1,610,000 | n/a | 0.0% | |
| MEMBERS MORTGAGE COMPANY, INC. | $3,890,000 | $1,595,000 | -59.0% | 0.0% |
| PLAZA HOME MORTGAGE, INC. | $2,815,000 | $1,555,000 | -44.8% | 0.0% |
| Salem Five Cents Savings Bank | $975,000 | $1,515,000 | 55.4% | 0.0% |
| Charles River Bank | $1,180,000 | $1,495,000 | 26.7% | 0.0% |
| DEEPHAVEN MORTGAGE LLC | $1,740,000 | $1,495,000 | -14.1% | 0.0% |
| SILVER HILL FUNDING, LLC | $5,290,000 | $1,455,000 | -72.5% | 0.0% |
| Logan Finance Corporation | $1,440,000 | n/a | 0.0% | |
| Century Mortgage Company DBA Century Lending Company | $4,790,000 | $1,425,000 | -70.3% | 0.0% |
| The Bank of Canton | $275,000 | $1,355,000 | 392.7% | 0.0% |
| ITHINK FINANCIAL Credit Union | $3,090,000 | $1,310,000 | -57.6% | 0.0% |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $13,305,000 | $1,295,000 | -90.3% | 0.0% |
| United Nations Federal Credit Union | $1,335,000 | $1,290,000 | -3.4% | 0.0% |
| NEW FED MORTGAGE, CORP. | $7,040,000 | $1,270,000 | -82.0% | 0.0% |
| Barrington Bank & Trust Company, N.A. | $4,365,000 | $1,260,000 | -71.1% | 0.0% |
| First-Citizens Bank & Trust Company | $1,255,000 | n/a | 0.0% | |
| MLD MORTGAGE INC. | $2,800,000 | $1,250,000 | -55.4% | 0.0% |
| NJ LENDERS CORP. | $365,000 | $1,240,000 | 239.7% | 0.0% |
| GuardHill Financial Corp. | $325,000 | $1,225,000 | 276.9% | 0.0% |
| AMERICAN INTERNET MORTGAGE, INC. | $1,900,000 | $1,200,000 | -36.8% | 0.0% |
| Valley National Bank | $1,195,000 | n/a | 0.0% | |
| Peoples Bank | $1,145,000 | n/a | 0.0% | |
| PREMIA MORTGAGE, LLC | $1,345,000 | $1,130,000 | -16.0% | 0.0% |
| Bethpage Federal Credit Union | $445,000 | $1,105,000 | 148.3% | 0.0% |
| BNC National Bank | $3,785,000 | $1,100,000 | -70.9% | 0.0% |
| FirstBank | $3,105,000 | $1,080,000 | -65.2% | 0.0% |
| Farmers Bank & Trust | $1,090,000 | $1,075,000 | -1.4% | 0.0% |
| First Federal Bank | $1,350,000 | $1,075,000 | -20.4% | 0.0% |
| Bank of England | $4,745,000 | $1,040,000 | -78.1% | 0.0% |
| UNIFY FINANCIAL Credit Union | $45,000 | $975,000 | 2,066.7% | 0.0% |
| Cathay Bank | $970,000 | n/a | 0.0% | |
| HARVARD UNIVERSITY EMPLOYEES | $2,480,000 | $960,000 | -61.3% | 0.0% |
| The Cape Cod Five Cents Savings Bank | $1,105,000 | $950,000 | -14.0% | 0.0% |
| DREW MORTGAGE ASSOCIATES, INC. | $2,135,000 | $930,000 | -56.4% | 0.0% |
| USAlliance Federal Credit Union | $1,795,000 | $915,000 | -49.0% | 0.0% |
| KINECTA | $885,000 | n/a | 0.0% | |
| Bar Harbor Bank & Trust | $860,000 | n/a | 0.0% | |
| Chicago Mortgage Solutions LLC | $6,470,000 | $860,000 | -86.7% | 0.0% |
| Capital Bank | $840,000 | n/a | 0.0% | |
| The Union Bank Company | $600,000 | $830,000 | 38.3% | 0.0% |
| MORTGAGE MARKETS CUSO, LLC | $590,000 | $825,000 | 39.8% | 0.0% |
| FBC MORTGAGE, LLC | $680,000 | $820,000 | 20.6% | 0.0% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $2,065,000 | $810,000 | -60.8% | 0.0% |
| MID AMERICA MORTGAGE, INC. | $1,075,000 | $810,000 | -24.7% | 0.0% |
| MountainOne Bank | $10,845,000 | $805,000 | -92.6% | 0.0% |
| The Northern Trust Company | $365,000 | $805,000 | 120.5% | 0.0% |
| AMERICAN HERITAGE LENDING, INC. | $510,000 | $785,000 | 53.9% | 0.0% |
| LAND HOME FINANCIAL SERVICES, INC. | $285,000 | $770,000 | 170.2% | 0.0% |
| First National Bank of America | $245,000 | $745,000 | 204.1% | 0.0% |
| FM Home Loans, LLC | $725,000 | n/a | 0.0% | |
| CREDIT UNION MORTGAGE ASSOCIATION, INC. | $420,000 | $705,000 | 67.9% | 0.0% |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $1,100,000 | $680,000 | -38.2% | 0.0% |
| TOWNE MORTGAGE COMPANY | $675,000 | n/a | 0.0% | |
| South Shore Bank | $660,000 | n/a | 0.0% | |
| Heritage Bank | $655,000 | n/a | 0.0% | |
| ALLIED MORTGAGE GROUP, INC. | $4,005,000 | $650,000 | -83.8% | 0.0% |
| CENTRAL ONE FEDERAL CREDIT UNION | $1,045,000 | $645,000 | -38.3% | 0.0% |
| GUIDANCE RESIDENTIAL, LLC | $2,985,000 | $630,000 | -78.9% | 0.0% |
| INTERSTATE HOME LOAN CENTER, INC. | $630,000 | n/a | 0.0% | |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $630,000 | n/a | 0.0% | |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $615,000 | n/a | 0.0% | |
| SIRVA MORTGAGE, INC. | $1,135,000 | $610,000 | -46.3% | 0.0% |
| MORTGAGE ACCESS CORP. | $520,000 | $605,000 | 16.3% | 0.0% |
| Plains Commerce Bank | $895,000 | $605,000 | -32.4% | 0.0% |
| Armed Forces Bank | $555,000 | $595,000 | 7.2% | 0.0% |
| WRENTHAM CO-OPERATIVE BANK | $595,000 | n/a | 0.0% | |
| Bay State Savings Bank | $555,000 | n/a | 0.0% | |
| AMERITRUST MORTGAGE CORPORATION | $545,000 | n/a | 0.0% | |
| MASS. INSTITUTE OF TECH. FEDERAL CREDIT UNION | $545,000 | n/a | 0.0% | |
| Ally Bank | $4,435,000 | $540,000 | -87.8% | 0.0% |
| BAYSHORE MORTGAGE FUNDING, LLC | $285,000 | $530,000 | 86.0% | 0.0% |
| AMERICAN FINANCING CORPORATION | $4,935,000 | $520,000 | -89.5% | 0.0% |
| AmeriHome Mortgage Company, LLC | $2,340,000 | $520,000 | -77.8% | 0.0% |
| ONY GLO, INC. | $520,000 | n/a | 0.0% | |
| SOUTHCOAST FEDERAL CREDIT UNION | $245,000 | $520,000 | 112.2% | 0.0% |
| Fulton Bank | $515,000 | n/a | 0.0% | |
| SECURITYNATIONAL MORTGAGE COMPANY | $515,000 | n/a | 0.0% | |
| NexBank | $1,420,000 | $505,000 | -64.4% | 0.0% |
| OAKTREE FUNDING CORP. | $425,000 | $505,000 | 18.8% | 0.0% |
| Alden Credit Union | $495,000 | n/a | 0.0% | |
| FIRST WORLD MORTGAGE CORPORATION | $1,260,000 | $485,000 | -61.5% | 0.0% |
| CONWAY FINANCIAL SERVICES, LLC | $1,145,000 | $475,000 | -58.5% | 0.0% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $4,660,000 | $460,000 | -90.1% | 0.0% |
| CorePlus Federal Credit Union | $220,000 | $440,000 | 100.0% | 0.0% |
| SCIENT Federal Credit Union | $1,230,000 | $430,000 | -65.0% | 0.0% |
| RESIDENTIAL BANCORP | $425,000 | n/a | 0.0% | |
| Bank of Whittier | $415,000 | n/a | 0.0% | |
| CALIBER HOME LOANS, INC. | $80,135,000 | $415,000 | -99.5% | 0.0% |
| FIRST CITIZENS' FEDERAL CREDIT UNION | $335,000 | $410,000 | 22.4% | 0.0% |
| HUDSON HERITAGE | $405,000 | n/a | 0.0% | |
| Actors Federal Credit Union | $690,000 | $395,000 | -42.8% | 0.0% |
| MID-ISLAND MORTGAGE CORP. | $1,010,000 | $395,000 | -60.9% | 0.0% |
| Webster Five Cents Savings Bank | $685,000 | $395,000 | -42.3% | 0.0% |
| FINANCIAL RESOURCES FEDERAL CREDIT UNION | $385,000 | n/a | 0.0% | |
| HOMESTEAD FUNDING CORP. | $3,040,000 | $385,000 | -87.3% | 0.0% |
| Cape Cod Co-operative Bank | $345,000 | $375,000 | 8.7% | 0.0% |
| ACADEMY MORTGAGE CORPORATION | $1,505,000 | $365,000 | -75.7% | 0.0% |
| Bank-Fund Staff Federal Credit Union | $305,000 | $365,000 | 19.7% | 0.0% |
| LENDING CAPITAL GROUP Inc | $365,000 | n/a | 0.0% | |
| First State Community Bank | $345,000 | n/a | 0.0% | |
| Ross Mortgage Company, Inc. | $2,075,000 | $345,000 | -83.4% | 0.0% |
| Stoughton Co-Operative Bank | $175,000 | $340,000 | 94.3% | 0.0% |
| Advisors Mortgage Group, L.L.C. | $445,000 | $335,000 | -24.7% | 0.0% |
| AmRes Corporation | $335,000 | n/a | 0.0% | |
| First IC Corporation | $335,000 | n/a | 0.0% | |
| MERRIMACK VALLEY | $675,000 | $335,000 | -50.4% | 0.0% |
| DELMAR FINANCIAL COMPANY | $285,000 | $325,000 | 14.0% | 0.0% |
| First Internet Bank of Indiana | $1,390,000 | $315,000 | -77.3% | 0.0% |
| Millbury National Bank | $305,000 | n/a | 0.0% | |
| PLANET HOME LENDING, LLC | $1,905,000 | $305,000 | -84.0% | 0.0% |
| RTN FEDERAL CREDIT UNION | $1,305,000 | $305,000 | -76.6% | 0.0% |
| Abbott Laboratories Employees Credit Union | $295,000 | n/a | 0.0% | |
| Fifth Third Bank | $295,000 | n/a | 0.0% | |
| MASS BAY Credit Union | $315,000 | $295,000 | -6.3% | 0.0% |
| OCEANSIDE MORTGAGE COMPANY | $175,000 | $295,000 | 68.6% | 0.0% |
| Signature Federal Credit Union | $290,000 | n/a | 0.0% | |
| COMMUNITY CREDIT UNION OF LYNN | $315,000 | $275,000 | -12.7% | 0.0% |
| Keystone Funding, Inc. | $265,000 | n/a | 0.0% | |
| Service Federal Credit Union | $2,005,000 | $260,000 | -87.0% | 0.0% |
| HSBC BANK USA, NATIONAL ASSOCIATION | $1,465,000 | $255,000 | -82.6% | 0.0% |
| N R L Federal Credit Union | $105,000 | $255,000 | 142.9% | 0.0% |
| Connexus Credit Union | $250,000 | n/a | 0.0% | |
| Metrowest Community Federal Credit Union | $250,000 | n/a | 0.0% | |
| Firstrust Savings Bank | $1,355,000 | $245,000 | -81.9% | 0.0% |
| TEACHERS | $245,000 | n/a | 0.0% | |
| FINEX CREDIT UNION | $220,000 | n/a | 0.0% | |
| POLISH NATIONAL | $1,220,000 | $215,000 | -82.4% | 0.0% |
| Westport Federal Credit Union | $100,000 | $215,000 | 115.0% | 0.0% |
| North American Savings Bank, F.S.B. | $3,760,000 | $205,000 | -94.5% | 0.0% |
| QUORUM FEDERAL CREDIT UNION | $1,720,000 | $195,000 | -88.7% | 0.0% |
| Kearny Bank | $185,000 | n/a | 0.0% | |
| Presidential Bank, FSB | $185,000 | n/a | 0.0% | |
| First Horizon Bank | $1,415,000 | $175,000 | -87.6% | 0.0% |
| HOLYOKE | $175,000 | n/a | 0.0% | |
| Old Second National Bank | $165,000 | n/a | 0.0% | |
| STANFORD Federal Credit Union | $500,000 | $155,000 | -69.0% | 0.0% |
| Sunflower Bank | $155,000 | $155,000 | 0.0% | 0.0% |
| American Airlines Federal Credit Union | $185,000 | $145,000 | -21.6% | 0.0% |
| The Dutch Point Credit Union, Inc. | $135,000 | n/a | 0.0% | |
| LIBERTY BAY CREDIT UNION | $1,325,000 | $120,000 | -90.9% | 0.0% |
| UNION HOME MORTGAGE CORP. | $2,440,000 | $115,000 | -95.3% | 0.0% |
| Brookline Bank | $139,295,000 | $105,000 | -99.9% | 0.0% |
| FIRST ATLANTIC FEDERAL CREDIT UNION | $105,000 | n/a | 0.0% | |
| GFA Federal Credit Union | $640,000 | $105,000 | -83.6% | 0.0% |
| WINGS FINANCIAL | $105,000 | n/a | 0.0% | |
| Southwest Airlines Federal Credit Union | $35,000 | $100,000 | 185.7% | 0.0% |
| New Bedford Credit Union | $285,000 | $95,000 | -66.7% | 0.0% |
| FARMERS INSURANCE GROUP FEDERAL CREDIT UNION | $300,000 | $75,000 | -75.0% | 0.0% |
| AFL CIO EMPLOYEES FEDERAL CREDIT UNION | $45,000 | $55,000 | 22.2% | 0.0% |
| EASTERN CONNECTICUT SAVINGS BANK | $680,000 | $45,000 | -93.4% | 0.0% |
Rhode Island's top lender by overall market share is Citizens Bank, with 8.6% market share. In second place, with 5.8%, is Navigant Credit Union, having originated $345,085,000 in loans. In third place, with 5.3%, is MOVEMENT MORTGAGE, LLC, having originated $318,750,000 in loans. In fourth place, with 3.8%, is The Washington Trust Company, of Westerly, having originated $224,695,000 in loans. In fifth place, with 3.4%, is PAWTUCKET, having originated $203,900,000 in loans.
Rhode Island Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 9,189 | $3,789,825,000 | $412,431 |
| Home Improvement | 3,545 | $436,625,000 | $123,166 |
| Other | 2,734 | $382,080,000 | $139,751 |
| Refi | 2,691 | $762,305,000 | $283,279 |
| Cash Out Refi | 2,462 | $619,500,000 | $251,625 |
Rhode Island's most frequently cited loan purpose was Home Purchase, with 9,189 originations. The 2nd most popular reason was Home Improvement, with 3,545 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 6,884 | $2,379,420,000 | $345,645 |
| 7-8% | 5,488 | $1,503,450,000 | $273,952 |
| Over 8% | 3,896 | $646,330,000 | $165,896 |
| 5-6% | 3,312 | $1,104,960,000 | $333,623 |
| 4-5% | 557 | $237,315,000 | $426,059 |
| 3-4% | 289 | $46,625,000 | $161,332 |
| <2.5% | 48 | $1,810,000 | $37,708 |
| 2.5-3% | 30 | $9,480,000 | $316,000 |
During 2023, Rhode Island's most frequently originated rate bucket was 6-7%, with 6,884 originations.
Loan Sizing (Rhode Island MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 7,430 | $2,220,390,000 | $298,841 |
| $100,000 or less | 5,015 | $267,655,000 | $53,371 |
| $100k-200k | 3,880 | $534,730,000 | $137,817 |
| $400k-600k | 3,038 | $1,438,010,000 | $473,341 |
| $600k-1000k | 918 | $664,080,000 | $723,399 |
| $Over $1MM | 340 | $865,470,000 | $2,545,500 |
Rhode Island's loan sizing saw the bucket of loans from $200k-400k with 7,430 originations, totaling $2,220,390,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 5,596 | $2,263,650,000 | $404,512 |
| Under 20% | 4,632 | $317,160,000 | $68,472 |
| 60-80% | 3,829 | $1,808,705,000 | $472,370 |
| 20-40% | 3,610 | $622,000,000 | $172,299 |
| 40-60% | 2,066 | $793,180,000 | $383,921 |
| Over 100% | 145 | $70,155,000 | $483,828 |
Rhode Island's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 5,596 originations, totaling $2,263,650,000 in origination value.