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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
June 09
I had not applied for a mortgage since…
I had not applied for a mortgage since 1995! Bill Dawson and the team at Bankfive were amazing at answering the many questions I had. Most of all Bill Dawson and the team made me feel like I was a priority and that they were just as interested in reviewing my application and making sure that we would meet our closing date and we did. Equally important the interest rate was beyond competitive with Market rates. Thank you Bill and Bankfive....shout out to Vaida who was always on top of the process also!
James
Trustpilot
June 09
Great from start to finish
Great from start to finish! Patient and very knowledgeable.
John
Trustpilot
June 09
Susana could not have been more…
Susana could not have been more professional,knowledgeable,kind and courteous while guiding me through the mortgage process.I am grateful for such a positive experience!
Susan
Trustpilot
June 02
Highly Recommended
Lisa and Vaida were great to work with in securing a mortgage for my new house. I would recommend them highly.
Greg
Trustpilot
May 26
Could not of been any easier!
Could not of been any easier!
Mark
Trustpilot
May 26
Outstanding professionals who deliver what they promise
Michelle Guertin and the entire team at Bank Five are amazing, dedicated professionals. They are hard working, diligent problem solvers. They find a way to get deals done. When they make a commitment to get a mortgage approved and closed, they follow through and deliver on their promises. I can’t think of enough compliments to describe them…
Wayne
Trustpilot
May 26
My experience with BankFive has been excellent!
My experience with BankFive has been phenomenal. I’ve been a client of theirs for many years. Chris Craig made everything seamless.
Michael
Trustpilot
May 19
I was refinancing
I was refinancing. From the start every individual I spoke with was kind, professional, and positive thinking. They were always there to answer questions and followed thru with answers. They were all wonderful including the closing atty. It was so great too that he came to my home as I dont like to drive. Thanks to all!
customerliz
Trustpilot
May 19
Great Refinancing Process!
Refinance Mortgage I was helped by Monica Botelho, Loan Officer, to refinance my mortgage. What a true loan officer, a combination of being humane and a professional. She made the process painless with my needs in play while smiling all along. She was able to get me much lower interest rate compared to other banks I contacted. I can write an article on the process but that will be for another time. I would recommend bankfive to my family and friends based on the experience with Monica. Looking forward to doing more business with bankfive especially with Monica!
Rufai Sharfow
Trustpilot
May 18
Overall great experience
We worked with Monica Botelho who supported us all the way through the process of purchasing our first home. She is extremely knowledgeable and was able to answer all of our questions.
B C
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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.