It was reported that two masked men entered a property in the area at around 2pm and assaulted the male occupant.
One of the men was reported to have been armed with a suspected firearm.
The occupant was taken to hospital for treatment to injuries to his head and face.
According to the PSNI, both arrested men remain in custody assisting officers with their enquiries.
Detective Sergeant Wallace said: “Our enquiries into this incident are currently ongoing and I would appeal to anyone who saw anything suspicious in the Drumtarsey area on Thursday afternoon, or anyone who has any information which could assist our investigation to contact detectives at Coleraine on 101 quoting reference number 757 22/11/18.
“Alternatively, information can also be provided to the independent charity Crimestoppers on 0800 555 111 which is 100% anonymous and gives people the power to speak up and stop crime.”