What the numbers say
Investors in Rhode Island borrowed at a median rate of 7.25%, versus 6.625% for owner-occupants — a 63 bps premium that ranks 43rd of 51 states.
Their applications were denied 18.7% of the time. The leading reasons for denial were debt-to-income ratio, collateral, other.
78% of investor loans were business- or commercial-purpose — the category that includes DSCR and LLC-held loans — and 33% were cash-out refinances. The typical loan-to-value was 70%, implying about 30% down.