This Massachusetts-based bank, headquartered in Orleans, serves homebuyers across Cape Cod and the surrounding areas. While it prides itself on community banking, borrowers should review loan disclosures carefully for any potential processing and origination fees.
See today’s mortgage interest rates on TrueRate.
How Cape Cod 5 compares to other lenders
| Headquarters | Orleans, Massachusetts |
| Website | capecodfive.com |
| Rate | 0.12% lower than the median rate |
| Lender fees | $899 (median on Cape Cod 5 loans) |
| Savings after 1 year, compared to the median interest rate | $758 |
| Savings after 10 years, compared to the median interest rate | $4,230 |
| Added cost after 1 year, compared to Tomo Mortgage | $1,820 |
| Added cost after 10 years, compared to Tomo Mortgage | $6,954 |
For a $400,000 mortgage, Cape Cod 5’s rates—about 0.12% below the market median—and $899 in lender fees result in estimated savings of approximately $758 in the first year and over $4,000 after 10 years compared to the median lender.
What customers are saying
Customer reviews of Cape Cod 5’s mortgage services, as seen on platforms like Yelp, Zillow, and BBB, reveal mixed experiences.
Borrowers praised Cape Cod 5 for offering a wide range of mortgage options, including fixed-rate and adjustable-rate mortgages (ARMs), construction loans, and programs for first-time homebuyers. Customers appreciated the personalized service provided by specific loan officers, for guidance during the home-buying process. Cape Cod 5 also offers online tools like mortgage calculators to assist borrowers in planning their finances.
Complaints frequently mention poor customer service, delays in processing, and communication gaps during critical stages of the mortgage process. Some borrowers reported frustrations with inefficiencies in refinancing and dissatisfaction with how loan officers handled inquiries. Additionally, some customers expressed concerns about higher-than-expected rates or unexpected changes in terms during the loan process.
How to compare mortgage lenders
Interest rates. Comparing rates between lenders isn’t always straightforward. Many promote low headline rates that require paying “points” upfront to buy down the interest rate. To make a true comparison, focus on the par rate (0 points) and the APR, which reflects both the interest rate and any lender fees. Even small differences can translate into significant savings over the life of the loan.
Lender fees or loan origination fees. Many lenders charge fees that add thousands to the cost of a loan. It’s important to look at both the rate and the fees together to understand the true cost of borrowing. For a $400,000 mortgage, avoiding even a $1,000 fee could contribute to meaningful savings in the first year and over the long term.
On-time close rate. Most lenders do not publicly share their on-time close rates. However, it’s a critical factor—especially if your home contract has tight deadlines. Asking about their process for meeting close dates, including underwriting and document review timelines, can give you more confidence when choosing a lender.
Pre-approval and offer letters. Some lenders offer fast pre-qualifications that may not be fully underwritten, which can weaken your offer in competitive markets. It’s important to ask whether a lender’s pre-approvals are fully underwritten and how credible their letters are when presented with an offer.
Customer satisfaction. If detailed customer review data isn’t readily available, check third-party review sites or ask the lender for references. It’s important to understand how they handle communication, responsiveness, and issue resolution throughout the loan process.
Employee reviews. Company culture often influences how clients are treated. A lender with strong employee satisfaction typically delivers better service, more organized processing, and a smoother overall experience for borrowers.
To better understand how we compare mortgage rates fairly, see our TrueRate Methodology.
If you’re ready to start your journey to homeownership, get pre-approved with Tomo Mortgage today.