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Fixed and Adjustable Rate Mortgages

Find the right mortgage for your budget and lifestyle.

Whether you're buying a home in Massachusetts or Rhode Island or looking to refinance your existing mortgage, BankFive can help. We offer both fixed rate and adjustable rate mortgages so we can cater to the unique home financing needs of each one of our customers.
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How Much Home Can You Afford?
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Trustpilot
January 13
I originally went to BankFive to get a…refinance
I originally went to BankFive to get a quote to show my current mortgage company that I was refinancing with for about the 5th time. Jim was incredibly helpful even knowing I was working with another company. In the end Bank Five offered a better rate than the company I had been working with and refinanced with multiple times over many years. And Jim even found me discounts on closing costs that my prior lender had never told me about. The process was easy and efficient and there was great communication throughout. Their online portal made uploading documents simple. I have refinanced a lot and this was the best experience to date. I could not be more pleased with BankFive.
Jonathan
Trustpilot
January 13
My loan officer was the best
My loan officer was the best
Edward
Trustpilot
January 12
It was a pleasure working with…
It was a pleasure working with BankFive. Not only do they have great mortgage rates for both primary and investment property (and purchase and refinance), but their employees were very easy to work with, always available when I reached out, and completed both my refinances in good time given the number of refinances and purchase mortgages that they were dealing with. Thank you Mike Gorman for leading us through the process! I highly recommend BankFive!!
Rob
Trustpilot
January 12
Kept you informed
Kept you informed
Jose
Trustpilot
January 12
Friendly and efficient service
Friendly and efficient service. This was the easiest refinancing process I have experienced. Their rates were great. Michelle was knowledgeable and available to answer any questions and provided guidance throughout the entire process. I would definitely recommend Bank Five to anyone seeking to refinance their mortgage.
customer
Trustpilot
January 06
Excellent Service
Excellent Service Working with Bank 5 on my last 2 mortgages, the process was clear and efficient. James Hanewich was a pleasure to work with - available, experienced, understanding and efficient. I would definitely use James and Bank 5 again. Highly recommend.
Mike
Trustpilot
January 06
Arthur McCue and team are excellent
Arthur McCue and team are excellent I would work with them again any day
Shyamala
Trustpilot
January 05
Excellent experience with Bank 5
I had not heard of Bank 5 and Chris Craig before I started my Duplex Re-Fi with Cash out process. I had read on a real estate platform that Chris had done a deal for another Investor so I thought I would give him an opportunity. I called Chris he answered my questions and gave me his rates. They were more than competitive with the 2 other banks / brokers I have worked with in the past. Chris was true to his word all the way down to the closing of the loan and the expectations he set right from the outset were spot on. There was even a point in the process where I called Chris on a Friday afternoon and got his voicemail, I left a message and he called my back on a Sunday afternoon. ( Need I say More ) There was no stress in my dealing with Chris He told me what he needed and he got it done. I would highly recommend Chris Craig and Bank 5 to anyone needing a mortgage. His knowledge and professionalism is unmatched. Looking forward to working with Chris on future business. Mark C.
Mark
Trustpilot
January 05
Refinancing is not usually an easy…
Refinancing is not usually an easy process, but the people at BankFive made it as painless as possible! The point person/loan officer that I primarily worked with was receptive, responsive, and explained everything to me in layman's terms so that I could understand it. Excellent service, great rates, and I have already recommended Bank5 to others!
Michelle
Trustpilot
January 05
Great experience with knowledgeable…
Great experience with knowledgeable staff. A very satisfying refinance. Happy with outcome.
Edward
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Two options with various advantages:

  • Fixed Rate Mortgages utilize a fixed interest rate, helping to keep your principal and interest payments the same for the entire term.
  • Fixed Rate Mortgages work well for people who want certainty in their monthly budgeting and who plan to stay in their home for at least 10 years.
  • Adjustable Rate Mortgages, known as ARMs, provide a lower interest rate in the beginning of the term. The lower interest rate is usually locked in for one, three, or five years before it begins to fluctuate annually based on market conditions, for the rest of the term.
  • There are caps on how much the interest rate on an Adjustable Rate Mortgage can increase in a year or term. It's also possible for the interest rate to decrease based on market conditions.
  • Adjustable Rate Mortgages can help you save money on interest payments early in your term.
  • Adjustable Rate Mortgages can be a good fit for people who have budgeting flexibility, who want a lower initial rate, and/or who plan to sell their home in less than 10 years.
Mortgage Resources
Find out how much home you can afford, review our homebuyer checklist, and check rates.