Fifth Third Bank review

Reviewed by the Editorial Team · Updated July 10, 2026 · 6 min read

A large regional bank across the Midwest and Southeast with retail mortgage lending and down-payment programs.

Fifth Third Bank by the numbers

Source: federal HMDA data (2025), FFIEC/CFPB. *Approval rate = loans originated ÷ (originated + denied). It reflects a lender's channel and borrower mix — wholesale, online and refi-heavy lenders run lower because many applications are rate shops that never close — not how hard it is to work with. See our approval-rate breakdown.

Fifth Third Bank at a glance

Fifth Third Bank is a Cincinnati-headquartered regional bank whose mortgage arm lends across its retail branch footprint in the Midwest and Southeast.

Unlike a national online shop, its home lending is tied to the states it actually banks in — Ohio, Michigan, Indiana, Illinois, Kentucky, Tennessee, West Virginia, and down through Georgia, the Carolinas, and Florida.

That geography shows up plainly in its 2025 HMDA record: of roughly 39,500 loans originated, more than half came from just two states, Ohio (22,547) and Michigan (11,493), with Florida, Illinois, and Indiana filling out the top five.

The bank originated about $7.99 billion in mortgages in 2025 at an average loan size near $202,000, and reported an overall approval rate around 65% — a figure that reflects a broad, branch-based applicant pool spanning purchase, refinance, and home-equity requests rather than any single niche.

Where Fifth Third Bank's approval rate sits

Fifth Third Bank's 2025 approval rate of 65.1% sits against the 76.6% national average. Read it as a signal of channel, not strictness — wholesale, online and refinance-heavy lenders run lower because so many applications are rate shops that never close.

Fifth Third pairs its conventional, FHA, VA, and jumbo lending with home-equity products, construction and lot loans, and even a physician program, and it markets more than 30 mortgage products overall.

Two features distinguish its pitch. The Fifth Third Community Mortgage targets buyers in eligible, often lower-income or majority-minority census tracts with low- or no-down-payment terms, no private mortgage insurance, and lender-paid closing help.

And its Rate Drop Protector waives the bank's own lender-side refinance fees if rates fall within a set window after purchase — a hedge aimed at buyers worried about locking in a high rate.

Who Fifth Third Bank is best for

Fifth Third suits buyers already living in its 11-state branch footprint — especially first-time and moderate-income borrowers in eligible neighborhoods who can tap the Community Mortgage for a low down payment with no PMI and lender-paid closing help.

Existing Fifth Third deposit customers who value in-branch service and an autopay rate discount, and buyers nervous about today's rates who want the Rate Drop Protector refinance hedge, will also find it a natural fit.

Loan programs at Fifth Third Bank

Its most notable programs and specialties:

• Fifth Third Community Mortgage — low/no down payment, no PMI, and lender-paid closing cost help in eligible areas
• Down payment assistance and homebuyer grants (a few thousand dollars, no repayment required) in the bank's eligible states
• Rate Drop Protector — waives Fifth Third's lender-side refinance fees if rates fall within roughly 6–24 months of purchase
• Conventional, FHA, VA, and jumbo purchase and refinance loans
• Home-equity options including the Equity Flexline HELOC (fixed- or variable-rate) and cash-out refinancing
• Specialty financing: physician loans, plus construction and lot loans

Typical industry minimum down payment by core loan type — Fifth Third Bank's own minimums or credit overlays may run higher:

Where Fifth Third Bank lends most

By federal HMDA records, Fifth Third Bank's largest 2025 markets were Ohio, Michigan, Florida, Illinois and Indiana. Explore local rates, home prices and down-payment assistance for each:

The verdict

Fifth Third is a solid choice for buyers inside its Midwest and Southeast footprint, particularly first-time and moderate-income households who can qualify for the Community Mortgage's no-PMI, low-down-payment terms or its grant and closing-cost assistance.

The Rate Drop Protector and autopay discount add real value. Borrowers outside its 11 states, or those needing USDA financing, will have to look elsewhere — and everyone should still compare a firm rate quote before committing.

How to compare Fifth Third Bank

Shopping a few lenders is the single most reliable way to save. Before you commit to Fifth Third Bank:

1. Get three or more Loan Estimates in a two-week window — the bureaus treat it as one inquiry.
2. Compare the APR, not just the headline rate — it folds in the fees.
3. Weigh service and loan-type fit, not price alone.
4. Verify licensing on NMLS Consumer Access (Fifth Third Bank's HMDA filer ID: QFROUN1UWUYU0DVIWD51).

Benchmark whatever you're quoted against today's the national rate benchmark.

This review is editorial and independent — Fifth Third Bank did not pay for or approve it, and all figures are from public federal data. It is general information, not a recommendation or personalized advice. Confirm all terms directly with the lender.