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Military Home Loans

Proud to serve those who serve our country.

As a community bank, BankFive pays tribute to our active duty and veteran neighbors in Massachusetts and Rhode Island. We're committed to helping them find the right home financing solution to fit their budget and lifestyle by providing access to mortgage products that lower the barriers to homeownership.

Home loans that serve military members and their families:

  • Flexible down payment requirements
  • Competitive interest rates and fees
  • Multiple property types are eligible
  • Less stringent credit requirements than traditional mortgage products

Trustpilot
July 21
The customer service w Susana Coito w…
The customer service w Susana Coito w our mortgage and Fran Oliviera setting up my checking out was nothing short of amazing work from both of them.
Justin Wotton
Trustpilot
July 15
extremely efficient
extremely efficient, friendly, supportive, patient quick easy process closing was effortless and friendly
Richard
Trustpilot
July 07
Great customer service - Monica
Monica Botelho worked with me on my closing and was excellent. She was responsive, easy to get a hold of, and supportive throughout the loan and home buying process. This was my first homebuying experience and she helped make it an easy process.
Sarah
Trustpilot
July 07
First Time Buyer - Fabulous Experience!!!
Jim Hanewich was phenomenal! This was my first time buying a home, and he provided clear, concise instructions and led me through the process from beginning to end. He made it so easy! We had to close within 30 days of the offer acceptance in order to be provided the 1 year home warranty the seller was offering, and he came through and got it done within 30 days! I will absolutely recommend Jim and BankFive to anyone I come in contact with that is in the market!!! Great Job Jim and BankFive team!!
Nicole Barton
Trustpilot
July 07
Kevin McGoff is the best !!
Kevin McGoff is the best !!! He has been so informative and helpful throughout my experience with BankFive. He is the person who is on top of his game when it comes to banking and is there from the beginning to end to make sure that our process was done right and thorough. The other people from BankFive that also helped me refinance my property could not have been any easier to deal with. They were there when I had a question and they were well prepared for all documents that had to be ready in time for final closing. Can't say enough about BankFive and the people that work there !!
Philip
Trustpilot
July 01
Monica Botelho
I had the absolute pleasure of working with Monica Botelho, who helped originate and provide us with the loan for our families home purchase. What I appreciated about Monica, was her honesty, professionalism, loyalty, and knowledge. Not only did she exceed these qualities, but also incredible response time with any questions I had. Monica took the burden off of us, and was available every step of the way. I would 100%, with zero reservations recommend using her if you are ever interested in buying or refinancing your home!
Trevor Calculator
Trustpilot
June 24
The Bank 5 Loan Process and Staff Was Great!
My entire experience was great. My options were thoroughly explained, I was kept informed and up to date. All my questions were answered. I could not ask for more professionalism. The loan was processed in a very timely manner. Even my emails were responded to very quickly ( even when Janice, my Bank 5 loan person, was out of the office.) I absolutely would recommend Bank 5 and the staff to anyone. In fact, I have recommended my daughter, who is buying her first home, use Bank 5 for her mortgage.
Patricia
Trustpilot
June 23
Fantastic from start to finish.
Fantastic from start to finish.
Stephen
Trustpilot
June 19
Elizabeth Tetzner
Elizabeth Tetzner was great to work with! Timely, thorough, and provided very competitive rates.
Adam Saltzman
Trustpilot
June 17
I recently worked with Elizabeth…
I recently worked with Elizabeth Tetzner and it was the 3rd time that I have worked with her over the last 18 months and she is fantastic. Super responsive, comes to you with solutions to your problems and always gets the best rate. I'll never go anywhere else and highly recommend her!
Bryan McWilliams
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Military Home Loans
VA Loans
Backed By United States Department of Veterans Affairs
Down Payment Requirement No down payment required
Geographical Restrictions BankFive offers VA Loans for properties in Massachusetts and Rhode Island
Income Limits No income limits
Credit Requirements Minimum credit score of 620
Property Types Single family homes, VA-approved condominiums, and 2-4 family properties
Must Be Owner-Occupied Yes
Mortgage Insurance Required No
Special Requirements Must have served 90 consecutive days of active service during wartime, or 181 days of active service during peacetime, or have more than 6 years of service in the National Guard or Reserves, or be the spouse of a service member who has died in the line of duty or as a result of a service-related disability.
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Home for the Brave Loans
Backed By MassHousing
Down Payment Requirement As little as 3% for single family homes and 5% for multi-family homes
Geographical Restrictions Properties in Massachusetts
Income Limits Borrowers may earn up to 135% of the median income in the city/town in which they are buying
Credit Requirements Minimum credit score of 660
Property Types Single family homes and condominiums, as well as 2-4 family properties
Must Be Owner-Occupied Yes
Mortgage Insurance Required Yes
Special Requirements Must be active-duty military, a Veteran of the U.S. Armed Services, or a spouse of a soldier, sailor, airman, or Marine killed while on active duty. May not own more than one home upon closing the loan.
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Operation Welcome Home Loans
Backed By MassHousing
Down Payment Requirement No down payment required for eligible borrowers
Geographical Restrictions Properties in Massachusetts
Income Limits Borrowers may earn up to 135% of the median income in the city/town in which they are buying
Credit Requirements Minimum credit score of 660
Property Types Single family homes and condominiums, as well as 2-4 family properties
Must Be Owner-Occupied Yes
Mortgage Insurance Required Yes
Special Requirements Must be an active duty military member, a Veteran who served honorably, a member of the National Guard or Reserves, or a Gold Star Family member. Must be a first-time homebuyer.
Learn More

Apply Now
VA Loans
Backed By United States Department of Veterans Affairs
Down Payment Requirement No down payment required
Geographical Restrictions BankFive offers VA Loans for properties in Massachusetts and Rhode Island
Income Limits No income limits
Credit Requirements Minimum credit score of 620
Property Types Single family homes, VA-approved condominiums, and 2-4 family properties
Must Be Owner-Occupied Yes
Mortgage Insurance Required No
Special Requirements Must have served 90 consecutive days of active service during wartime, or 181 days of active service during peacetime, or have more than 6 years of service in the National Guard or Reserves, or be the spouse of a service member who has died in the line of duty or as a result of a service-related disability.
Learn More

Apply Now
Home for the Brave Loans
Backed By MassHousing
Down Payment Requirement As little as 3% for single family homes and 5% for multi-family homes
Geographical Restrictions Properties in Massachusetts
Income Limits Borrowers may earn up to 135% of the median income in the city/town in which they are buying
Credit Requirements Minimum credit score of 660
Property Types Single family homes and condominiums, as well as 2-4 family properties
Must Be Owner-Occupied Yes
Mortgage Insurance Required Yes
Special Requirements Must be active-duty military, a Veteran of the U.S. Armed Services, or a spouse of a soldier, sailor, airman, or Marine killed while on active duty. May not own more than one home upon closing the loan.
Learn More

Apply Now
Operation Welcome Home Loans
Backed By MassHousing
Down Payment Requirement No down payment required for eligible borrowers
Geographical Restrictions Properties in Massachusetts
Income Limits Borrowers may earn up to 135% of the median income in the city/town in which they are buying
Credit Requirements Minimum credit score of 660
Property Types Single family homes and condominiums, as well as 2-4 family properties
Must Be Owner-Occupied Yes
Mortgage Insurance Required Yes
Special Requirements Must be an active duty military member, a Veteran who served honorably, a member of the National Guard or Reserves, or a Gold Star Family member. Must be a first-time homebuyer.
Learn More

Apply Now
VA Loans Home for the Brave Loans Operation Welcome Home Loans
Backed By United States Department of Veterans Affairs MassHousing MassHousing
Down Payment Requirement No down payment required As little as 3% for single family homes and 5% for multi-family homes No down payment required for eligible borrowers
Geographical Restrictions BankFive offers VA Loans for properties in Massachusetts and Rhode Island Properties in Massachusetts Properties in Massachusetts
Income Limits No income limits Borrowers may earn up to 135% of the median income in the city/town in which they are buying Borrowers may earn up to 135% of the median income in the city/town in which they are buying
Credit Requirements Minimum credit score of 620 Minimum credit score of 660 Minimum credit score of 660
Property Types Single family homes, VA-approved condominiums, and 2-4 family properties Single family homes and condominiums, as well as 2-4 family properties Single family homes and condominiums, as well as 2-4 family properties
Must Be Owner-Occupied Yes Yes Yes
Mortgage Insurance Required No Yes Yes
Special Requirements Must have served 90 consecutive days of active service during wartime, or 181 days of active service during peacetime, or have more than 6 years of service in the National Guard or Reserves, or be the spouse of a service member who has died in the line of duty or as a result of a service-related disability. Must be active-duty military, a Veteran of the U.S. Armed Services, or a spouse of a soldier, sailor, airman, or Marine killed while on active duty. May not own more than one home upon closing the loan. Must be an active duty military member, a Veteran who served honorably, a member of the National Guard or Reserves, or a Gold Star Family member. Must be a first-time homebuyer.
Learn More

Apply Now
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Mortgage Resources
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