Find the right mortgage for your budget and lifestyle.
Whether you're buying a home 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. We specialize in MA and RI mortgages, but can originate mortgages in CT, NH, ME, and FL as well.
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.
I worked with Wilfredo, Omar & Robert from BankFive on the lending loan of my mortgage. They were very helpful, patient and informative. Definitely happy with using this bank and I would recommend it to anyone I know.
We have been with Bank Five, since they opened their Dartmouth Branch. Always: courteous, concerned, helpful and loyal to their customers and staff. A feeling of extra security in a Family atmosphere. What more could be said! Thank you Bank Five for ‘Being There!’
Bank five looked at our situation as a whole to determine the positive outcome of approving our mortgage, and found ways to get things . Something that other lenders said they would do but could not deliver what was promised and caused more harm than good to our situation .
James Hanewich was especially good with his job , He had clear communication the whole process and delivered on what he said at the end .
Thank you all at Bank Five for helping families own homes and we look forward to a great relationship in the YEARS to come
We had a great experience obtaining a competitive land loan to ultimately be in position to build our dream house. The BankFive representatives were world class, personable individuals who were readily available and helpful each step of the way.
I encountered a issue with my mortgage payment and the bank couldn't have been more helpful. They actually reached out to notify of the payment issue something I wouldn't have noticed on my own. At a larger bank, it would have gone unchecked and potentially lead to penalties.
I have used different banks over the years to finance my home, but I found BankFive's team to be -by far- the most efficient, effective and collaborative I have ever worked with. I never thought I would say this but getting a mortgage was a really good experience.
The entire team has been excellent to work with! Yubetzy, Vaida and Wil went over and beyond in supporting two real estate transactions for us. We are very happy with our terms and so appreciative of the the level of care from everyone on Wil’s team.
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