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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
September 15
Everything was smooth and went well one…
Everything was smooth and went well one of the better closings that I’ve ever had
Robfriar
Trustpilot
September 07
BankFive was efficient and…
BankFive was efficient and professional. I would recommend them to anyone purchasing a home.
Elisabeth
Trustpilot
August 18
Great Experience
Worked with Monica for my home refinance. She was knowledgable, prompt, and worked hard for me. Everything went totally smoothly.
Sherri
Trustpilot
August 18
Painless process
Painless process, all requirements clear and concise. Would recommend to all.
Joe
Trustpilot
August 14
Great Refinance Experience
I refinanced my mortgage with BankFive to take advantage of their low interest rates. I worked with Monica Botelho on the application. She was very easy to work with and answered all of my questions promptly (I have lots of questions). I highly recommend Monica and BankFive to anyone looking for a mortgage.
PaulS
Trustpilot
August 12
Kevin McGoff and team are excellent to…
Kevin McGoff and team are excellent to deal with and process was quick and efficient! I will highly recommend.
Casey
Trustpilot
August 11
Claudette and Lindsay Vickery led a…
Claudette and Lindsay Vickery led a team to one of the best and fastest mortgage acquisitions I've ever experienced.
vincent maher
Trustpilot
August 11
Mortgage Refinance
Recently, we refinanced our mortgage with Bank 5, after being referred to Jim Hanewich, our loan officer. This was our first experience with Bank 5 and we're happy to report that our experience was very positive. Jim Hanewich is experienced and knowledgeable and explained the process every step of the way. He explained our options regarding mortgage rates, terms and whether to choose a 15, 20 or 30 year mortgage. We ended up choosing a 15 year mortgage at a great interest rate and Jim really made it happen for us. We would not hesitate to recommend Jim. Thank you Jim and Bank 5!
Stan
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
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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.