Bank of America in Rhode Island vs the state
39.1%Denial rate+20.44 pts vs state
53.4%Decision denial rate+30.25 pts vs state
33.3%Origination rate-26.47 pts vs state
6.24%Median rate-0.51 pts vs state
0.90Rate spread (pts)+0.71 pts vs state
$111kMedian applicant income
432Loans originated
508Denied
Trend in Rhode Island
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 1,408 | 417 | 56.8% | 7.49% | #4 |
| 2024 | 1,334 | 389 | 45.5% | 6.99% | #5 |
| 2025 | 1,298 | 432 | 39.1% | 6.24% | #7 |
What Bank of America lends in Rhode Island
By loan purpose
By loan type
Why it denied Rhode Island applicants
Where in Rhode Island
Counties with the most Bank of America applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Providence County | 757 | 227 | 346 | 45.7% |
| Kent County | 207 | 64 | 77 | 37.2% |
| Washington County | 196 | 81 | 48 | 24.5% |
| Newport County | 91 | 39 | 27 | 29.7% |
| Bristol County | 47 | 21 | 10 | 21.3% |
Other large lenders in Rhode Island
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| Citizens Bank | C | 6,329 | 27.8% | 7.40% |
| Navigant Credit Union | B | 2,847 | 16.1% | 6.50% |
| COASTAL1 Credit Union | B | 1,931 | 24.3% | 6.75% |
| The Washington Trust Company, of Westerly | C | 1,755 | 21.9% | 6.38% |
| Rocket Mortgage | C | 1,430 | 19.7% | 6.75% |
| Movement Mortgage | A | 1,308 | 3.6% | 6.63% |
| Primary Residential Mortgage | C | 1,056 | 8.4% | 6.63% |
| BankNewport | B | 1,014 | 19.7% | 6.63% |
| CMG Mortgage | A | 992 | 7.6% | 6.63% |
| United Shore Financial Services | B | 780 | 18.0% | 6.38% |
Frequently asked questions
Rhode Island: 1,298 applications in 2025, of which 432 were originated and 508 denied.
39.1% of all applications, or 53.4% of the applications it actually decided on. The Rhode Island statewide average across all lenders was 18.7%.
The median rate on loans Bank of America originated in Rhode Island in 2025 was 6.24%, against a statewide median of 6.75%.
About this data. Figures are Bank of America's own HMDA filing for properties located in Rhode Island, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology