# BankNewport

> **Canonical URL:** https://saferate.com/lenders/banknewport


> **📋 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


BankNewport is a bank, headquartered in Newport, RI, serving borrowers across 3 states, with 190 loans originated in the most recent reporting period.

**At a Glance:**
- **Pricing:** Ranks in the top 45% of lenders for competitive rates
- **Approval Rate:** Ranks in the top 41% for loan approval success

## Overview

- **Institution Type:** Bank
- **LEI (Legal Entity Identifier):** 549300RYJCJ7JPQ4RF20
- **Headquarters:** Newport, RI
- **Geographic Reach:** Regional
- **States Served:** 3
- **State List:** CT, MA, RI
- **Markets (MSAs):** 1
- **Primary Channel:** Direct to Consumer
- **Direct Origination:** 100%
- **Brokered/Wholesale:** 0%

## Safe Rate Ratings

### Pricing: Sound ☺️
- Score: 55/100
- Rating: ●●●○○ (3/5)

### Pull Through: Sound ☺️
- Score: 59/100
- Rating: ●●●○○ (3/5)

### Pricing Details
- **Average Rate Spread:** +0.173%
  - *(Average of lender's APR minus market average APR)*
- **Average Net Fees:** $1,151
  - *(Borrower paid Origination Charges minus Lender Credits)*

### Lending Volume
- **Total Loans:** 190
- **Dollar Volume:** $84 million
- **Applications Received:** 270
- **Market Share:** 1.00%

## Typical Borrower Profile

- **Average Loan Amount:** $441,789
- **Average Borrower Income:** $197,016
- **Average Property Value:** $656,158

## Performance by Loan Product

| Product | Score | Volume | Avg Spread | Avg Fees | Rating |
|---------|-------|--------|------------|----------|--------|
| Conventional | 48/100 | 164 | +0.153% | $1,150 | Sound ☺️ |
| Jumbo | 69/100 | 18 | +0.301% | $1,694 | Strong 😀 |

### Product Performance by Purpose

**Conventional:**
- Purchase: 139 loans, Score: 49/100 (Sound)
- Refinance: 25 loans, Score: 42/100 (Sound)

## Performance by Loan Purpose

| Purpose | Score | Volume | Dollar Volume | Avg Spread | Rating |
|---------|-------|--------|---------------|------------|--------|
| Purchase | 50/100 | 164 | $74M | +0.148% | Sound ☺️ |
| Refinance | 41/100 | 26 | $10M | +0.330% | Sound ☺️ |

## State Performance

| State | Volume | Market Share | Place Score |
|-------|--------|--------------|-------------|
| RI | 168 | 1.57% | 86/100 |
| MA | 20 | 0.03% | 49/100 |

## Top Metro Markets (MSAs)

| Market | State | Volume | Place Score |
|--------|-------|--------|-------------|
| Providence | RI-MA | 179 | 86/100 |

## Where This Lender Ranks

BankNewport appears in the following market rankings:

### Best Overall Mortgage Lenders

- 🏆 **#6** in Rhode Island for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/rhode-island/best-mortgage-lenders/banks/fha-loans)
- 🏆 **#8** in Rhode Island for Jumbo Loans (Banks)
  - [View Full Rankings](https://saferate.com/rhode-island/best-mortgage-lenders/banks/jumbo-loans)
- 🏆 **#9** in Providence for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/providence/best-mortgage-lenders/banks/fha-loans)
- 🏆 **#11** in Providence for Jumbo Loans (Banks)
  - [View Full Rankings](https://saferate.com/providence/best-mortgage-lenders/banks/jumbo-loans)
- 🏆 **#13** in Rhode Island for Jumbo Loans
  - [View Full Rankings](https://saferate.com/rhode-island/best-mortgage-lenders/jumbo-loans)
- 🏆 **#14** in Rhode Island Banks
  - [View Full Rankings](https://saferate.com/rhode-island/best-mortgage-lenders/banks)
- 🏆 **#15** in Rhode Island for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/rhode-island/best-mortgage-lenders/banks/conventional-loans)
- 🏆 **#16** in Providence for Jumbo Loans
  - [View Full Rankings](https://saferate.com/providence/best-mortgage-lenders/jumbo-loans)
- 🏆 **#18** in Providence Banks
  - [View Full Rankings](https://saferate.com/providence/best-mortgage-lenders/banks)
- 🏆 **#18** in Providence for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/providence/best-mortgage-lenders/banks/conventional-loans)

## Frequently Asked Questions

### What loan types does BankNewport offer?

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

### Where does BankNewport offer mortgages?

BankNewport offers mortgages in 3 states: CT, MA, RI.

### How competitive are BankNewport's mortgage rates?

BankNewport has a pricing score of 55/100 (Sound), based on analysis of their loan data including average rate spread and fees compared to market benchmarks.
Their average rate spread is 0.173% above market average.

### What type of lender is BankNewport?

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

### What is BankNewport's loan approval success rate?

BankNewport has a pull-through score of 59/100 (Sound). 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/banknewport

### How to Cite

> "BankNewport Mortgage Lender Profile." Safe Rate, 2026. https://saferate.com/lenders/banknewport

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