BankNewport at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the B grade breaks down
Each component is a percentile rank among 412 home-equity (HELOC) lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
52nd23.8% deniedPricingmedian rate spread over APOR, weight 30%
63rd-0.10 ptsProcesswithdrawn + incomplete share, weight 15%
45th13.5%Closing coststotal loan costs ÷ loan amount, weight 10%
83rd1.75% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 1,100 | 758 | 18.6% | 20.6% | 6.00% | $245M |
| 2024 | 993 | 691 | 14.9% | 17.2% | 6.99% | $263M |
| 2025 | 1,112 | 710 | 20.6% | 23.8% | 6.63% | $254M |
What BankNewport lends
Applications by purpose and loan type in 2025, with the denial rate for each. A lender's mix explains a lot of its headline rate: HELOCs and FHA loans are denied far more often than conventional purchase loans.
By loan purpose
By loan type
Also: 626 home-equity lines, 0 reverse mortgages, 0 manufactured homes, 133 investment properties.
Why BankNewport denies applications
Primary reason reported for each of the 229 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at BankNewport
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 64 | 11 | 80.7% |
| $50k – $100k | 238 | 133 | 33.7% |
| $100k – $150k | 256 | 173 | 18.5% |
| $150k – $250k | 268 | 189 | 16.5% |
| Over $250k | 200 | 141 | 15.3% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 159 | 100 | 23.0% |
| 35–44 | 226 | 139 | 28.0% |
| 45–54 | 207 | 134 | 24.3% |
| 55–64 | 215 | 133 | 25.7% |
| 65–74 | 152 | 106 | 20.0% |
| Over 74 | 80 | 42 | 33.3% |
Where BankNewport lends
5 states and 21 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Rhode Island | 1,014 | 656 | 19.7% | 6.63% | #9 |
| Massachusetts | 81 | 44 | 30.9% | 6.74% | #274 |
| Connecticut | 15 | 9 | 20.0% | 6.49% | #336 |
Frequently asked questions
BankNewport denied 23.8% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 52nd percentile of home-equity (HELOC) lenders.
The most common reason BankNewport gave in 2025 was "debt-to-income ratio", cited on 48.9% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.
The median interest rate on loans BankNewport originated in 2025 was 6.63%, and its median rate spread over the average prime offer rate was -0.10 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 33% of its applications were for home purchases, 29% for refinancing (including cash-out), and 38% for home improvement or other purposes. By loan type: 98% conventional, 2% FHA, 0% VA.
Every figure on this page comes from the Home Mortgage Disclosure Act (HMDA) Loan/Application Register published by the CFPB, which lenders are required by federal law to file. We add the grade and the comparisons; we do not add facts.