Application Process

Applying for a home equity loan or line of credit is simple, and our experienced bankers are available to help you every step of the way. Best of all, typically you can access your funds in just 3-4 weeks after you apply and are approved!

Step 1: Complete an Application

Apply Online or get a Personalized Quote. You may also visit us at any one of our convenient branch locations and we’ll help you determine the best home equity product for your needs and complete an application. To speed things up, speak with a branch banker in advance to find out what supporting documents you can bring, such as pay stubs and financial statements.

Step 2: Application Review

Next, we will verify your information, check your credit score, determine the value of your property (which may require an appraisal), and obtain copies of your title insurance and flood certification, if applicable. If we need any additional documentation, we’ll contact you.

Step 3: Loan Decision & Closing

We will let you know if your application is approved once we complete our review. Upon approval, we’ll schedule a closing with you to finalize our loan agreement. The closing can be held at your local branch or other location.

Step 4: Accessing Your Funds

In most cases, you will have access to your funds three days after the closing – either via a disbursement (for home equity loans) or checks (for home equity lines of credit).

Don't Wait! Start Your Application Today!

Once completed, a Bank Rhode Island representative will contact you to provide more information about your application and to answer any questions you may have.

All BankRI branches and offices will be closed on Monday, May 27, 2024, in observance of Memorial Day.