NFM in Rhode Island vs the state
1.6%Denial rate-17.08 pts vs state
1.9%Decision denial rate-21.26 pts vs state
82.6%Origination rate+22.80 pts vs state
6.75%Median rate0.00 pts vs state
0.60Rate spread (pts)+0.42 pts vs state
$115kMedian applicant income
459Loans originated
9Denied
Trend in Rhode Island
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 636 | 543 | 0.9% | 6.88% | #11 |
| 2024 | 677 | 570 | 1.8% | 6.88% | #12 |
| 2025 | 556 | 459 | 1.6% | 6.75% | #18 |
What NFM lends in Rhode Island
By loan purpose
By loan type
Why it denied Rhode Island applicants
Where in Rhode Island
Counties with the most NFM applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Providence County | 406 | 344 | 6 | 1.5% |
| Kent County | 105 | 79 | 3 | 2.9% |
| Washington County | 29 | 22 | 0 | 0.0% |
| Newport County | 11 | 9 | 0 | 0.0% |
| Bristol County | 5 | 5 | 0 | 0.0% |
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% |
| Bank of America | F | 1,298 | 39.1% | 6.24% |
| 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% |
Frequently asked questions
Rhode Island: 556 applications in 2025, of which 459 were originated and 9 denied.
1.6% of all applications, or 1.9% of the applications it actually decided on. The Rhode Island statewide average across all lenders was 18.7%.
The median rate on loans NFM originated in Rhode Island in 2025 was 6.75%, against a statewide median of 6.75%.
About this data. Figures are NFM'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