Reverse mortgage in Rhode Island
Lenders in Rhode Island, where the loans are, and who counsels: all drawn from HUD's own records of loans.
- In one year, 97 HECMs closed in Rhode Island
- HUD counted the Median home value at $520,000
- Finance of America Reverse handled the most HECMs in Rhode Island, with 35
HUD's HECM records show 97 closed reverse mortgages in Rhode Island between September 2025 and August 2026, 0.4% of the 24,529 loans nationwide. The count ranks 42nd out of the 50 states and DC.
1 of the loans bought a home with HECM for Purchase, 12 refinanced an earlier HECM and 5 reached the $1,249,125 limit on value.
Rhode Island HECMs compared with national figures
The final two rows come from the calculator.
| Rhode Island | Against all HECMs | |
|---|---|---|
| HECMs closed | 97 | 0.4% of all 24,529 |
| Median home value counted | $520,000 | $80,000 more |
| Median principal limit | $257,040 | $62,868 more |
| Principal limit as a share of value | 44.3% | 0.9 points higher |
| Median expected rate | 5.75% | 0.125 points lower |
| HECM for Purchase | 1% | 4.5 points lower |
| Refinanced HECMs | 12.4% | 1.5 points higher |
| Lenders with a loan here | 10 | of 34 nationwide |
| At age 70 with a median home and no mortgage, this is what remains after costs | $180,820 | $29,280 more |
| Usable in the first year at age 70 | $100,532 | $16,928 more |
HECM lenders in Rhode Island, ranked by loan count
HECMs in Rhode Island were sponsored by 10 lenders. Finance of America Reverse, Longbridge Financial and Mutual of Omaha Mortgage accounted for 83 of the 97 loans, or 86%, as the three leading lenders. See how the national ranking compares.
| Rank | Lender | HECMs | Share |
|---|---|---|---|
| 1 | Finance of America Reverse | 35 | 36.1% |
| 2 | Longbridge Financial | 29 | 29.9% |
| 3 |  | 19 | 19.6% |
| 4 |  | 4 | 4.1% |
| 5 |  | 3 | 3.1% |
| 6 | PHH Mortgage | 2 | 2.1% |
| 7 | Traditional Mortgage Acceptance Corporation | 2 | 2.1% |
| 8 | Guild Mortgage | 1 | 1% |
| 9 | Guaranteed Rate | 1 | 1% |
| 10 | High Tech Lending | 1 | 1% |
HECMs in Rhode Island originated by local lenders and brokers
A total of A total of 26 companies took Rhode Island HECM applications. Other than the national names above, the firms that originated the most were Washington Trust Mortgage Company (14), Everett Financial (10), Movement Mortgage (2), Loandepot.com (2), Anchor Financial Mortgage (2), Troy City Mortgage (1), Primelending, A Plainscapital (1) and Powerhouse Funding (1). These counts are of the company that originated each loan, while the ranking above counts the lender that sponsored it, so the two lists are not comparable.
Places in Rhode Island where HECMs were made
Kent posted 20 loans, while the leader, Providence County, took 40 of the 97. Warwick (12), Cranston (10), Providence (7), North Kingstown (5) and Newport (4) had the most loans. City names are the mailing city on each HUD record and can reach into nearby counties, so a city's count need not match the county table.
| County | HECMs | Share |
|---|---|---|
| Providence | 40 | 41.2% |
| Kent | 20 | 20.6% |
| Washington | 20 | 20.6% |
| Newport | 11 | 11.3% |
| Bristol | 6 | 6.2% |
HUD-approved counselors for reverse mortgages in Rhode Island
Not a single agency on HUD's counselor list is located in Rhode Island. Before you apply, the session is still required. HUD's counselor lookup lists agencies offering phone or video counseling.
Property tax relief for older Rhode Island homeowners
Homeowners age 70-74 in Bristol, Rhode Island can get a $300 property tax credit, and no income requirement applies. Veteran Senior & Other Tax Exeption Programs.
Who oversees reverse mortgage lenders in Rhode Island
For lenders and loan brokers in Rhode Island, the Division of Banking is the licensing authority. All Other Licensees - Applications, Forms & Other Information | Dept. of Business Regulation
Data source: HUD HECM portfolio snapshot, covering September 2025 to August 2026. All states.