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finder.com’s rating: 3.0 / 5.0
★★★★★
Fifth Third Bank offers a full suite of standard and specialized mortgage products to borrowers in the Midwest. But it’s limited to servicing 10 states, and it doesn’t offer online applications.
Loan products offered | Conventional, Jumbo, Home Equity, FHA, VA |
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State availability | Only available in: FL, GA, IL, IN, KY, MI, NC, OH, TN, WV |
Fifth Third Bank offers conventional, jumbo and government-backed loans, including refinancing and construction lending options.
In addition to its standard home loan options, Fifth Third Bank also offers the following:
While Fifth Third Bank provides no information about its fees on its website, most lenders charge a loan origination fee of 2% to 5% of the total loan cost.
During the closing process, you can expect to encounter the following costs:
Fifth Third Bank has no lending requirements published on its website, so you’ll need to speak with one of its loan specialists to confirm your loan eligibility.
Most lenders require a minimum credit score of 620 and down payment of at least 20% to qualify for a conventional loan. Borrowers applying for government-backed FHA and VA loans can qualify with scores as low as 500. FHA loans offer down payments as low as 3.5%, while VA loans have 0% down payment options.
Fifth Third states on its website that the necessary documents vary based on the type of loan you apply for. But be prepared to supply the standard home loan documentation staples, including:
While you can’t get prequalified or submit an application on Fifth Third Bank’s website, you can fill out a short questionnaire to be connected with a Fifth Third Bank loan specialist:
During business hours, a Fifth Third Bank loan specialist will review your information and contact you within 90 minutes. You can also call Fifth Third Bank at 866-351-5353, Monday through Thursday, 8 a.m. to 8 p.m., Fridays, 8 a.m. to 6 p.m., and Saturdays, 9 a.m. to 3 p.m., EST.
Fifth Third Bank is an accredited business with the Better Business Bureau (BBB), which awards it an A+ rating. But Fifth Third Bank’s BBB customer reviews are less favorable, with an average 1 out of 5 stars based on 102 reviews.
Fifth Third Bank has also amassed 969 BBB customer complaints — a worrisome figure for any provider. Customers complain of delays in the closing process, hidden fees and difficulty accessing customer support.
Fifth Third Bank is headquartered in Ohio and traces its origins back to 1858. Today, it employs over 20,000 people across 1,200 banking centers in 10 states. It ranks 384th on the 2019 Fortune 500 List and is among the top 50 banks by total assets in the US.
Review by
Shannon Terrell is a writer for Finder who studied communications and English literature at the University of Toronto. On any given day, you can find her researching everything from equine financing and business loans to student debt refinancing and how to start a trust. She loves hot coffee, the smell of fresh books and discovering new ways to save her pennies.
With the selection of specialty loan options that Fifth Third Bank offers, it’s best for borrowers with low-to-moderate income. But you won’t be eligible to apply unless you live within its 10-state branch network, and you can’t apply online.