Skip to Main Content Skip to Sitemap

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
April 15
We had an incredibly easy time with the…
We had an incredibly easy time with the closing . Everything went smoothly. I couldn’t be any happier with the service we received . We have long been customers of Bank5 since before it was Fall River 5cent savings bank , and look forward to staying with them for the long haul.
Jeffrey
Trustpilot
April 14
Monica is great
Monica is great! Great rates, easy to work with, expectations of paperwork and closing process were clear
Richard
Trustpilot
March 24
Easy process with a fantastic loan…
Easy process with a fantastic loan officer. I would be happy to send referrals to Elizabeth Tetzner.
Joshua
Trustpilot
March 24
Easy and fast
Easy and fast, quick and efficient service. Would recommend to all. Top notch service
Customer
Trustpilot
March 24
Mortgage and Lending Staff is Phenomenal
The lending staff that I dealt with for my loan were courteous, efficient and went all out, even after hours, to make sure that my loan request was complete and accurate before it went to the underwriter. I feel that this extra effort on all of their parts made the underwriting review streamlined and thus achieved a very favorable outcome both in rate and in terms.
Aldo Petronio
Trustpilot
March 24
Jim Hanewich made this process as…
Jim Hanewich made this process as stress-free as possible. He found me the best refinance possible and was open and honest every step of the way.
Erin
Trustpilot
March 24
I have a wonderful experience with…
I have a wonderful experience with BankFive been with the bank for years. Monica In the loan department was absolutely the best. She went above and beyond for me I was in contact regularly she a very personable which is very important. Would gladly recommend her for future business. Everyone I dealt with at BankFive was very nice . Thanks again
Cheryl Cordeiro
Trustpilot
March 10
Great service
Great service , Monica was very helpful! And made the process stress free
Kayla
Trustpilot
March 04
Arthur is transparent and seamless as a…
Arthur is transparent and seamless as a mortgage broker. I highly recommend working with him.
Brandon
Trustpilot
March 03
My experience with BankFive was great
My experience with BankFive was great. Everyone was very friendly and helpful. Would definitely recommend them.
Escolastica
Powered by

Have questions? Schedule an appointment with one of our expert mortgage specialists today.

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.
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
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
Learn More

Apply Now
Learn More

Apply Now
Mortgage Resources
Find out how much home you can afford, review our homebuyer checklist, and check rates.