Rhode Island Mortgage Lending
390 lenders reporting under HMDA
Statewide mortgage activity. Lenders filed 41,962 HMDA-reported mortgage applications in Rhode Island in 2024, originating 22,697 loans and denying 8,158. That puts the statewide denial rate at 19.4% and the approval (origination) rate at 54.1%. The average loan amount across Rhode Island was $293,185 at an average note rate of 7.19%. 390 distinct institutions — banks, credit unions, and independent mortgage companies — filed HMDA data covering activity in the state. Applications span 5 counties and 2 metropolitan areas.
What drives state-level differences. State mortgage denial rates reflect applicant mix more than lender stance. Credit profiles, loan-to-value ratios, debt-to-income, property type, and rural-versus-urban composition all move the number before any lender policy does. Demographic lending data reported under HMDA shows variation across applicant groups — for example, White applicants had an approval rate of 61.3% and denial rate of 19.1%; while Black or African American applicants had an approval rate of 45.9% and denial rate of 30.7%. These are derived race categories as reported by applicants and do not by themselves prove causation; credit score, income, and loan-to-value are not reported in HMDA and drive much of the underlying variation. Top counties by volume include Providence County, Kent County, Washington County.
How to read this page. These are aggregate 2024 HMDA disclosures published by the Consumer Financial Protection Bureau — a federal transparency dataset, not a real-time market feed. A state-level number is useful for context but cannot tell you what rate, fees, or underwriting any individual lender will offer a specific borrower. This page is informational data reporting, not financial, legal, or mortgage advice. Shop at least three lenders, compare Loan Estimates line-by-line, and consult a licensed mortgage professional before applying. Data reflects the CFPB HMDA 2024 Snapshot National Loan-Level Dataset; demographic fields reflect derived categories as reported by applicants.
Nearby Lenders in Rhode Island
Top HMDA-reporting lenders active in Rhode Island. Compare any two side-by-side for rates, denial rates, and loan mix.
| # | Lender | Originated | Market Share |
|---|---|---|---|
| 1 | CBNA Year to Date | 2,702 | 11.9% |
| 2 | Navigant Credit Union | 1,907 | 8.4% |
| 3 | COASTAL1 CREDIT UNION | 1,190 | 5.2% |
| 4 | MOVEMENT MORTGAGE, LLC | 988 | 4.4% |
| 5 | The Washington Trust Company, of Westerly | 927 | 4.1% |
Lending by Race in Rhode Island
Derived race categories as reported under HMDA. Source: CFPB.
| Race | Applications | Approval Rate | Denial Rate |
|---|---|---|---|
| White | 27,533 | 61.3% | 19.1% |
| Black or African American | 2,702 | 45.9% | 30.7% |
| Asian | 1,097 | 54.4% | 20.2% |
| Joint | 691 | 66.9% | 13.6% |
| American Indian or Alaska Native | 180 | 32.8% | 36.1% |
| Native Hawaiian or Other Pacific Islander | 129 | 38.0% | 38.0% |
| 2 or more minority races | 64 | 43.8% | 34.4% |
Counties in Rhode Island
| County | Applications | Originated | Denial Rate | Avg Loan |
|---|---|---|---|---|
| Providence County | 23,970 | 12,433 | 21.6% | $269,916 |
| Kent County | 7,955 | 4,478 | 17.8% | $264,693 |
| Washington County | 5,089 | 2,955 | 15.5% | $347,606 |
| Newport County | 2,960 | 1,682 | 16.4% | $415,764 |
| Bristol County | 1,891 | 1,115 | 14.4% | $364,609 |
Metro Areas in Rhode Island
Frequently Asked Questions
How many mortgage applications were filed in Rhode Island?
What is the mortgage denial rate in Rhode Island?
What is the average mortgage loan amount in Rhode Island?
How many mortgage lenders operate in Rhode Island?
How do mortgage denial rates vary by demographics in Rhode Island?
Which counties in Rhode Island have the most mortgage activity?
Mortgage Lending Guides
Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024. State geography per U.S. Census Bureau standards.
Data from FFIEC / CFPB HMDA Snapshot National Loan-Level Dataset (2024). Demographic data reflects derived categories as reported by applicants. Provided for informational purposes only.
Read our methodology — how this data is sourced, computed, and verified.
