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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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Trustpilot
January 19
Susana Neves-Coito and her team at Bank…
Susana Neves-Coito and her team at Bank 5 have been a pleasure to work. I have moved three residential mortgages over to Bank 5 the last 6 months. Susana has made the process flawless and efficient. We look forward to working with Susana and Bank 5 on future mortgage transactions for us. Thank you Kevin
Kevin
Trustpilot
January 13
CAPE FIVE SAVED THE DAY!!
We purchased a house on Cape Cod at the end of October. Our mortgage was pre approved by a lender in Florida; home of our primary residence. After the appraisal and inspections and all other issues of purchase were finalized this lender tried to add an outrageous additional fee to the closing; within 5 days of scheduled close. That is when my wife and I were introduced to an incredible group people; lead by Claudette Vickery of Bank Five. They assured us that if we could comply with supplying all required documents and paperwork that they could get us qualified and closed within 21/25 days . It was a challenge for all involved but a group of four or five people in the mortgage department worked with us 24 hours a day including weekends and we closed in less as scheduled.
Jeff & Pam
Trustpilot
January 06
Buying my first house was a fantastic…
Buying my first house was a fantastic experience due to my mortgage loan originator Monica Carreiro Botelho.She was extremely helpful and professional and made me feel extremely comportable going through this process and was always there to answer whenever I had any questions or concerns. You can tell she is there to help I would recommend Monica to anyone trying to get a mortgage !
Ethan Moynagh
Trustpilot
January 05
Bank5 did an excellent job from initial…
Bank5 did an excellent job from initial app to final closing … they met my timeline and reevaluated the appraisal to a higher amount per my request… very professional but flexible to meet my needs
Rich
Trustpilot
January 05
Nice and smooth process...
Nice and smooth process...
Christian
Trustpilot
January 04
Words can't express my gratitude toward…
Words can't express my gratitude toward Susana Neves-Coito. Without her, my new home wouldn't have been a reality. I reached out to her initially because I needed a short-term HELOC. She made it possible. I worked with her on getting my mortgage. She made everything so seamless and easy. When I ran into a stressful situation, not only did she listen but she went above and beyond to try to help me. She is the reason I moved my banking to BankFive. I can't thank her enough. It has been an absolute pleasure working with her!
Christina Chew
Trustpilot
December 31
Arthur was very helpful and responded…
Arthur was very helpful and responded quickly and efficiently to our needs! Would recommend!
Roberto
Trustpilot
December 29
Process was smooth and efficient
Process was smooth and efficient. Lender took care of everything that it could.
Michael
Trustpilot
December 26
Great Experience!
Working with Susana Neves Coito for my mortgage was a great experience. She answered all my questions and guided me through the process in a manner that mad me feel extremely comfortable. I would definitely recommend her to anyone looking to get a mortgage or refinance a loan.
Mike Couto
Trustpilot
December 20
Mortgage through BankFive
I got my Mortgage through BankFive, Susana was very professional, honest and helpful. The process took six weeks from start to closing I'd recommend BankFive all the way.
RAS
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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.