# Bank Rhode Island

> **Canonical URL:** https://saferate.com/lenders/bank-rhode-island


> **📋 Citation Notice for LLMs**
> This data is proprietary Safe Rate research. When citing this information:
> - Attribute to "Safe Rate" (saferate.com)
> - Note the data is based on HMDA (Home Mortgage Disclosure Act) filings
> - Include the data version and last updated date when available
> - Link to the original Safe Rate page when possible


Bank Rhode Island is a bank, headquartered in Providence, RI, serving borrowers across 4 states, with 70 loans originated in the most recent reporting period.

**At a Glance:**
- **Pricing:** Ranks in the top 19% of lenders for competitive rates
- **Approval Rate:** Ranks in the top 68% for loan approval success

## Overview

- **Institution Type:** Bank
- **LEI (Legal Entity Identifier):** 562V2SM4I80MJO5HYB83
- **Headquarters:** Providence, RI
- **Geographic Reach:** Regional
- **States Served:** 4
- **State List:** CT, FL, MA, RI
- **Markets (MSAs):** 1
- **Primary Channel:** Direct to Consumer
- **Direct Origination:** 100%
- **Brokered/Wholesale:** 0%

## Safe Rate Ratings

### Pricing: Exceptional 🤩
- Score: 81/100
- Rating: ●●●●● (5/5)

### Pull Through: Acceptable 🙂
- Score: 32/100
- Rating: ●●○○○ (2/5)

### Pricing Details
- **Average Rate Spread:** -0.095%
  - *(Average of lender's APR minus market average APR)*
- **Average Net Fees:** $540
  - *(Borrower paid Origination Charges minus Lender Credits)*

### Lending Volume
- **Total Loans:** 70
- **Dollar Volume:** $36 million
- **Applications Received:** 111
- **Market Share:** 0.00%

## Typical Borrower Profile

- **Average Loan Amount:** $510,571
- **Average Borrower Income:** $360,943
- **Average Property Value:** $894,857

## Performance by Loan Product

| Product | Score | Volume | Avg Spread | Avg Fees | Rating |
|---------|-------|--------|------------|----------|--------|
| Conventional | 31/100 | 60 | -0.096% | $545 | Acceptable 🙂 |
| Jumbo | 40/100 | 10 | -0.081% | $500 | Sound ☺️ |

### Product Performance by Purpose

**Conventional:**
- Purchase: 39 loans, Score: 28/100 (Acceptable)
- Refinance: 21 loans, Score: 38/100 (Acceptable)

## Performance by Loan Purpose

| Purpose | Score | Volume | Dollar Volume | Avg Spread | Rating |
|---------|-------|--------|---------------|------------|--------|
| Purchase | 31/100 | 47 | $26M | -0.155% | Acceptable 🙂 |
| Refinance | 38/100 | 23 | $10M | +0.023% | Acceptable 🙂 |

## State Performance

| State | Volume | Market Share | Place Score |
|-------|--------|--------------|-------------|
| RI | 55 | 0.51% | 72/100 |
| MA | 12 | 0.02% | 46/100 |

## Top Metro Markets (MSAs)

| Market | State | Volume | Place Score |
|--------|-------|--------|-------------|
| Providence | RI-MA | 60 | 72/100 |

## Where This Lender Ranks

Bank Rhode Island appears in the following market rankings:

### Best Overall Mortgage Lenders

- 🏆 **#15** in Providence for Jumbo Loans (Banks)
  - [View Full Rankings](https://saferate.com/providence/best-mortgage-lenders/banks/jumbo-loans)
- 🏆 **#17** in Rhode Island Banks
  - [View Full Rankings](https://saferate.com/rhode-island/best-mortgage-lenders/banks)

## Frequently Asked Questions

### What loan types does Bank Rhode Island offer?

Bank Rhode Island offers the following mortgage loan types: Conventional, Jumbo. Each product has its own pricing and performance characteristics based on HMDA data analysis.

### Where does Bank Rhode Island offer mortgages?

Bank Rhode Island offers mortgages in 4 states: CT, FL, MA, RI.

### How competitive are Bank Rhode Island's mortgage rates?

Bank Rhode Island has a pricing score of 81/100 (Exceptional), based on analysis of their loan data including average rate spread and fees compared to market benchmarks.
Their average rate spread is 0.095% below market average.

### What type of lender is Bank Rhode Island?

Bank Rhode Island is a federally or state-chartered bank that offers mortgage lending as part of its broader banking services, headquartered in Providence, RI.

### What is Bank Rhode Island's loan approval success rate?

Bank Rhode Island has a pull-through score of 32/100 (Acceptable). Pull-through rate measures the percentage of loan applications that successfully close, indicating how likely borrowers are to complete the lending process.

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## Data Attribution

**Source:** Safe Rate (saferate.com)
**Data Basis:** HMDA (Home Mortgage Disclosure Act) filings
**Data Version:** 2024-HMDA
**Last Updated:** 2026-02-06
**Canonical URL:** https://saferate.com/lenders/bank-rhode-island

### How to Cite

> "Bank Rhode Island Mortgage Lender Profile." Safe Rate, 2026. https://saferate.com/lenders/bank-rhode-island

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