Washington Trust Mortgage Company 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 1,883 small mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
60th7.5% deniedPricingmedian rate spread over APOR, weight 30%
80th0.02 ptsProcesswithdrawn + incomplete share, weight 15%
6th28.7%Closing coststotal loan costs ÷ loan amount, weight 10%
86th0.97% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 1,249 | 895 | 4.0% | 5.2% | 6.25% | $563M |
| 2024 | 923 | 577 | 6.6% | 9.4% | 6.75% | $291M |
| 2025 | 1,050 | 678 | 5.3% | 7.5% | 6.49% | $405M |
What Washington Trust Mortgage Company 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: 0 home-equity lines, 1 reverse mortgages, 0 manufactured homes, 132 investment properties.
Why Washington Trust Mortgage Company denies applications
Primary reason reported for each of the 56 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Washington Trust Mortgage Company
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| $50k – $100k | 147 | 96 | 11.6% |
| $100k – $150k | 195 | 128 | 5.8% |
| $150k – $250k | 297 | 208 | 5.4% |
| Over $250k | 392 | 241 | 5.4% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 299 | 206 | 4.1% |
| 35–44 | 340 | 217 | 7.1% |
| 45–54 | 191 | 121 | 9.5% |
| 55–64 | 134 | 80 | 12.8% |
| 65–74 | 53 | 37 | 5.0% |
Where Washington Trust Mortgage Company lends
4 states and 33 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Massachusetts | 746 | 464 | 5.9% | 6.49% | #63 |
| Connecticut | 155 | 110 | 5.2% | 6.49% | #133 |
| Rhode Island | 115 | 85 | 0.9% | 6.50% | #62 |
| New Hampshire | 34 | 19 | 8.8% | 6.38% | #151 |
Frequently asked questions
Washington Trust Mortgage Company denied 7.5% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 60th percentile of small mortgage lenders.
The most common reason Washington Trust Mortgage Company gave in 2025 was "debt-to-income ratio", cited on 44.6% 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 Washington Trust Mortgage Company originated in 2025 was 6.49%, and its median rate spread over the average prime offer rate was 0.02 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 68% of its applications were for home purchases, 29% for refinancing (including cash-out), and 2% for home improvement or other purposes. By loan type: 100% conventional, 0% 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.