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We have provided some mortgage tools that can help in your decision-making process. Keep in mind these tools are simply that – tools to give you some relevant information and provide needed assistance. Quoted rates and payments should not be considered a guarantee or any type of approval. 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 anA+ 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.
Make your home sweet home even sweeter with a home improvement loan from The Cooperative Bank of Cape Cod. We offer affordable loans to help you pay for that new roof, heating system, or porch. With our competitive interest rates and various term options, you can start that project today and get low payments that won’t hurt your monthly budget. With tens of thousands of mortgage brokers and lenders out there, it can be difficult to determine whether the one that you are looking at is a mortgage company or a mortgage broker. The Cape Cod Five Mortgage Company operates in a modern office located in Marstons Mills, MA. Our mortgage loan specialists are ready to help with any VA home loan or refinancing needs. We provide a variety of mortgage solutions that can help you get the most out of your home.
Loan Rates
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. 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. Since credit score and credit history are two important criteria for determining mortgage interest rates, borrowers need to review their scores before applying.
Department of Agriculture [ loans can be an excellent tool for home buyers. Not only can the USDA loan program provide you with a great mortgage rate and an affordable down payment, but it’s a good option to obtain cash back at closing. There are many types of USDA mortgage loan programs and they all have their own set of requirements. Depending on the type of USDA mortgage loan program you choose, you’ll typically get a competitive low interest rate, low down payment, flexible credit guidelines and affordable monthly payments.
Fixed-Rate Loans
Using a Home Equity Line of Credit is easy and does not require a visit to the bank. You may also transfer funds from your Line of Credit to your Cape Cod 5 account using Online Banking. Home Equity Lines of Credit and Loans are available for owner occupied, 1-4 family primary residences, including condos.
In our estimation, the mortgage giant HomeStreet has a relatively high approval rate. In our experience, 60% is very good for this market and is on par with many of the other top mortgage lenders we have researched. If you’re approved, you’ll also receive a fairly low interest rate, so you can be assured of low payments.
Kates Path
He exceeded my expectations in more ways then I can describe. If you have the fortune of working with Pat, you too will agree Patrick Foran is in a league of his own. All written content on this site is for information purposes only.
I have used Foran Realty, Inc. for my recent real estate transaction on Cape Cod, and based on that experience, I will use Foran Realty again and again whenever necessary. Pat Foran, the owner, uses a very result driven strategy when working with his clients, yet he combines this ” can do” philosophy with a highly ethical manner of doing business. He is very skilled at working within the intricacies and rules controlling real estate transactions in Massachusetts. He always kept me informed of what was happening from the start to the end of process.
Online Services
To qualify, borrowers must meet theincome and loan limits set by the agency. 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. On the upside, this website has a great customer service section and a detailed payment calculator.
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. Thanks to the Federal Housing Administration , these loans have almost come to replace the conventional mortgage loan. As a buyer, you can obtain up to 4% in a cash-out mortgage loan, or 100% of the appraised value. House buyers should use a mortgage broker for today’s jumbo loan rates.
Cape Cod Five has a very nice selection of mortgages, including great rates on 30-year fixed loans. The ARM doesn’t require monthly mortgage insurance and features a very low rate to help you pay off the high rate. Designed to be in 1st- or 2nd-lien position, this fixed-rate loan allows you to take equity out of a home you already own. Put your home to work for you with a home equity loan through The Cooperative Bank of Cape Cod. You can use the equity you have in your home to secure low interest financing on a loan to use for your next big purchase. Whether you’re planning a trip, paying for your daughter’s wedding, or looking to pay off your credit cards, a home equity loan can provide you with the funds you need.
Therefore, these loans, depending on your own unique interest rates, can be very beneficial. Mortgage Adjustable Rate Loans provide an affordable way to purchase a home for many people given their minimal initial rate. The interest rate remains the same for an initial period of time, usually three to five years. While the Cape Cod Five Program provides a network of services, it doesn’t hand out loans. You need to be approved for a Cape Cod Five mortgage through a participating financial institution— and they decide the appropriate loan amount based on merit, financial standing and other considerations. In addition to no online application, there are no payment calculators on the site.
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. Information and interactive calculators are made available to you as self-help tools for your independent use. We cannot and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
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. To qualify for this fixed-rate mortgage, borrowers must be able to demonstrate that they are U.S. veterans or active military service members. Department of Veterans Affairs, this loan option requires no down payment and has no income limit, though credit score guidelines may apply. Homebuyers that 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.
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