Cape Cod Five Mortgage Rates Review: Today’s Best Analysis

Cape Cod Five was established in 1855 as The Cape Cod Five Cents Savings Bank, a small financial institution serving the needs of the local community.

From its headquarters in Harwich Port, Massachusetts, Cape Cod Five has facilitated over $4 billion in loans to residents and businesses across the peninsula.

The bank’s commitment to community outreach and development has made it a well-respected part of Cape Cod’s economic sector.

Cape Cod Five Quick Facts

• Provides a variety of mortgage types, including conventional fixed or adjustable-rate loans, FHA, VA, USDA, and MassHousing programs

• Has been servicing Cape Cod, Nantucket, Martha’s Vineyard, and parts of Southeastern Massachusetts for over 160 years

• Facilitates over $4 billion in loans to residents and businesses across the region

• Provides rate quotes without requiring a social security number

• Recognized as MassHousing’s #1 Lender in Barnstable County for 11 consecutive years

• Offers an array of free resources and tools for first-time homebuyers

Overall

Although Cape Cod Five does not have the massive customer base of many industry-leading mortgage originators, its presence within the regional market serving Cape Cod, Nantucket, Martha’s Vineyard, and Southeastern Massachusetts is significant.

One reason for its success is its wide range of home loan products and services, which suit a variety of customer needs including:

• Low-To-Moderate Income Borrowers

• Veterans Looking To Buy a Home

• Buyers Looking For Vacation Properties Who Can Make Large Down Payments

This full-spectrum approach to home lending has helped Cape Cod Five cement itself as a go-to option for all Cape Cod residents.

The bank’s website is packed with useful information and tools that can help borrowers make informed financial decisions, like the mortgage calculator and the adjustable-rate analyzer.

Borrowers can secure rate quotes directly through the website without having to submit a social security number, though speaking to an agent directly is the best way to obtain an accurate estimate.

Mortgage applications can be submitted through the website, which is helpful for homebuyers who don’t want to visit one of Cape Cod Five’s physical branches.

Current Mortgage Rates

Cape Cod Five Loan Specifics

Cape Cod Five provides home lending solutions that suit the diverse needs of Massachusetts residents, including traditional fixed- and adjustable-rate mortgages, jumbo loans, and government-insured FHA, VA, USDA, and MassHousing mortgages.

This lender also offers several programs that are aimed at promoting affordable housing for first-time home buyers, borrowers looking for a low down payment, and even residents interested in purchasing homes that need renovations.

Fixed-Rate Loans

This popular mortgage option features fixed monthly payments that will not change over the full term of the loan. Cape Cod Five has traditional repayment term options, including 10, 15, 20, and 30-year options.

Interest rates for this loan type can go as low as 4.250 percent for qualified borrowers, though a longer repayment term usually leads to higher rates.

Adjustable-Rate Loans

Homebuyers who are unsure about their long-term plans may benefit from a mortgage with variable rates, as they typically offer lower monthly payments during the first few years.

This type of mortgage starts with a fixed interest rate and monthly payment amount for an agreed-upon term, usually 3, 5, 7, or 10 years. Once the initial period has elapsed, the interest rate and monthly payments will increase or decrease each year based on market conditions.

Jumbo Loans

For borrowers looking to invest in high-cost properties, this lender offers jumbo loan options of up to $3 million for both primary residences and second homes.

Mortgages are classified as “jumbo” when the loan amount exceeds the conventional conforming limits determined by the Federal Housing Finance Agency (FHFA), which is currently set at $484,350.

FHA Loans

This government-backed loan program requires down payments as low as 3.5 percent with no income limits and is insured by the Federal Housing Administration. This option is a fixed-rate mortgage with flexible qualifying criteria, as borrowers with credit scores of 580 or higher may apply.

VA Loans

To qualify for this fixed-rate mortgage, borrowers must be able to demonstrate that they are U.S. veterans or active military service members.

Backed by the U.S. Department of Veterans Affairs, this loan option requires no down payment and has no income limit, though credit score guidelines may apply.

USDA Loans

This loan option is available to qualified borrowers who want to build, rehabilitate, or relocate to a home within eligible rural areas.

The program was created by the U.S. Department of Agriculture to stimulate the growth of rural communities and offers a fixed-rate mortgage with no down payment requirements.

MassHousing Loans

In an effort to provide affordable housing solutions to the workforce living in the region, Cape Cod Five partnered with MassHousing to offer this 30-year fixed-rate mortgage with down payments as low as 3 percent and no mortgage insurance requirements.

To qualify, borrowers must meet the income and loan limits set by the agency.

Comprehensive Overview of Cape Cod’s Five Loan Options

Loan Type	Description	Key Features
Fixed-Rate Loans	Fixed Monthly Payments, 10, 15, 20, 30-Year Terms, Rates as Low as 4.250%	Traditional Repayment Options
Adjustable-Rate Loans	Variable Rates With Lower Initial Payments, Initial Fixed Terms (3, 5, 7, 10 Years)	Adjusts Based on Market Conditions
Jumbo Loans	Loans up to $3 Million for High-Cost Properties, Exceeding FHFA Conforming Limits	Suitable for High-Value Properties
FHA Loans	Down Payments as Low as 3.5%, Fixed-Rate Mortgage, Flexible Criteria (580+ Credit Score)	Government-Backed With Low Down Payment
VA Loans	Fixed-Rate Mortgage, No Down Payment, for U.S. Veterans and Active Military	Backed by U.S. Department of Veterans Affairs
USDA Loans	For Eligible Rural Areas, Fixed-Rate Mortgage, No Down Payment Required	Promotes Growth in Rural Communities
MassHousing Loans	30-Year Fixed-Rate Mortgage, Down Payments as Low as 3%, No Mortgage Insurance	Affordable Housing for Local Workforce

Cape Cod Five Mortgage Customer Experience

Cape Cod Five’s small service area allows it to provide exceptional, personalized service to residents of:

• Cape Cod

• Nantucket

• Martha’s Vineyard

• Parts of Southeastern Massachusetts

For this reason, the bank’s lending agents are intimately familiar with the area’s unique regional demands and are prepared to address the challenges of living on the Atlantic shore.

This customer-focused approach is one reason that Cape Cod Five has been recognized as MassHousing’s #1 Lender in Barnstable County for 11 consecutive years.

In addition to the resources available at its physical branches, the Cape Cod Five website features a variety of useful tools that can help homebuyers understand the mortgage application process and land the best possible rates.

The lender’s mortgage calculator allows users to compare options side-by-side by filling in information about the property and loan amounts. This calculator also contains an adjustable rate analyzer to help anticipate how monthly payments on variable loans may fluctuate in the years to come.

The Cape Cod Five website allows borrowers to initiate the pre-qualification process online, though personal information like names, addresses, phone numbers, and social security numbers are required.

For users who are uncomfortable with furnishing this sensitive information, the website features a rate quote tool that does not ask for any personal data to generate an accurate, up-to-date estimate.

Rate quotes contain information on all of the lender’s non-government mortgage offerings, which can help users efficiently narrow down their options.

If a satisfactory loan option is found, borrowers can apply for the mortgage through Cape Cod Five’s website or by contacting an agent directly.

Cape Cod Five Lender Reputation

This lender has serviced the Cape Cod region for over 160 years and has built a reputation as a customer-focused financial institution dedicated to the needs of coastal residents.

The bank currently has an A+ rating from the Better Business Bureau, with only one customer complaint on file over its entire operational history.

With its small staff of 221 people, Cape Cod Five has helped thousands of Massachusetts residents obtain affordable mortgages, earning it accreditation as an Equal Opportunity Lender.

• Information collected on Jan. 04, 2019

Cape Cod Five Mortgage Qualifications

Loan Type	Rate Type	Down Payment Requirements
Fixed-Rate Loans	Fixed	5-20%
Adjustable-Rate Loans	Variable	5-20%
Jumbo Loans	Fixed or Variable	5-20%
FHA Loans	Fixed	3.5%
VA Loans	Fixed	0%
USDA Loans	Fixed	0%
MassHousing Loans	Fixed	3%

The qualification guidelines for Cape Cod Five’s mortgage offerings vary between loan options, as many were designed to suit the individual needs of certain borrower groups.

Since credit score and credit history are two important criteria for determining mortgage interest rates, borrowers need to review their scores before applying.

While Cape Cod Five’s website does not include specific credit score information for its products, the industry-standard score is 740, according to information provided by FICO.

Detailed down payment requirements for conventional and jumbo loans are also difficult to find on the company’s website, so be sure to contact a lending agent directly to learn more.

Cape Cod Five considers debt-to-income ratio when determining a homebuyer’s eligibility, as it gives them an idea about the level of risk involved in lending to specific borrowers.

The lender’s website features a useful debt-to-income calculator that can help homebuyers understand their financial positions before negotiations begin.

To support first-time homebuyers and lower-income borrowers, Cape Cod Five offers a number of affordable housing programs through its partnership with MassHousing.

These programs allow for reduced closing costs, extended terms, and special financing options for qualified individuals and families.

In particular, the bank’s collaboration with the MassHousing Mortgage Rehabilitation Program supports home restoration efforts with low down payments, lender-paid mortgage insurance, and MIPLUS Job Loss Protection.

Cape Cod Five Phone Number & Additional Details

• Homepage URL: https://www.capecodfive.com/

• Company Phone:1-888-225-4636

• Headquarters Address:532 Main St., Harwich Port, MA-02646

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