Fifth Third Bank mortgage review: rates, costs & calculator
A large regional bank across the Midwest and Southeast with retail mortgage lending and down-payment programs.
Fifth Third Bank mortgage rates: what borrowers actually paid
Fifth Third Bank prices each borrower individually, but federal loan-level records show what its borrowers actually got. On 2,439 conventional 30-year fixed purchase loans with at least 20% down closed in 2025, the median rate was 6.50% and the median APR was 0.11 percentage points below the typical lender's, with $3,982 in loan costs.
| 2025 home purchases | Loans | Median rate | APR vs benchmark | Loan costs | With points |
|---|---|---|---|---|---|
| Conventional · Fifth Third Bank | 2,439 | 6.50% | −0.09 | $3,982 | 36% |
| Conventional · all lenders | 700,082 | 6.50% | +0.02 | $5,476 | 53% |
| FHA · Fifth Third Bank | 546 | 6.25% | +0.27 | $7,421 | 39% |
| FHA · all lenders | 516,729 | 6.25% | +0.42 | $11,291 | 59% |
| VA · Fifth Third Bank | 192 | 5.99% | −0.53 | $4,032 | 40% |
| VA · all lenders | 291,383 | 6.125% | −0.36 | $6,554 | 59% |
What the numbers say
- On conventional loans, Fifth Third Bank's median APR ran 0.11 percentage points below the typical lender's (−0.09 vs +0.02 percentage points against the benchmark) — roughly $23 a month on a $325,000 loan at today's 7.18% average rate.
- Other loan types: FHA 0.15 percentage points below the market (546 loans); VA 0.16 percentage points below the market (192 loans).
- Borrowers paid a median $3,982 in loan costs — $1,494 less than the $5,476 typical across all lenders.
- Only 36% of its loans carried discount points (53% overall), so its rates were mostly not bought down upfront.
- 63% of its loans came with lender credits toward closing costs, versus 33% overall.
- Its borrowers took smaller loans (median $255,000 vs $325,000), which moves dollar costs and can move rates too.
How Fifth Third Bank compares on conventional loans
| Lender | Loans | Median rate | APR vs benchmark | Loan costs | Lender credits |
|---|---|---|---|---|---|
| Fifth Third Bank | 2,439 | 6.50% | −0.09 | $3,982 | 63% |
| Chase | 20,595 | 6.49% | −0.13 | $4,695 | 28% |
| U.S. Bank | 8,383 | 6.49% | −0.09 | $4,634 | 88% |
| Wells Fargo | 8,331 | 6.375% | −0.18 | $5,267 | 80% |
| Bank of America | 6,488 | 6.25% | −0.28 | $4,758 | 40% |
| All lenders | 700,082 | 6.50% | +0.02 | $5,476 | 33% |
Source: 2025 HMDA loan-level records (FFIEC/CFPB), 30-year fixed home purchases compared like for like. APR vs benchmark = median APR minus the average prime offer rate the week the rate was set; loan costs are borrower-paid. Data notes and limits.
Fifth Third Bank mortgage calculator
Estimate a Fifth Third Bank payment: enter the rate from your Loan Estimate, or start from today's 7.18% average 30-year fixed rate. For reference, Fifth Third Bank's 2025 conventional purchase loans closed at a median 6.50%.
Prefer a full-page version? Open the mortgage calculator.
Fifth Third Bank by the numbers
| Home loans originated (2025) | 39,534 |
|---|---|
| Total lending (2025) | $8.0B |
| Average loan size | $202,176 |
| Approval rate* | 65.1% |
| Volume rank (our roster) | #27 of 60 |
| Largest market | Ohio |
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.
What Fifth Third Bank actually lends
28.2% of Fifth Third Bank's 2025 loans were rate-and-term refinance loans, versus 15.3% nationally. Fifth Third Bank lists VA loans, but they were under 2% of its 2025 originations — if you need one, ask how many the loan officer closes.
| Share of 2025 loans | Fifth Third Bank | U.S. |
|---|---|---|
| Conventional | 96.5% | 78% |
| FHA | 2.5% | 13.2% |
| VA | 0.9% | 8.2% |
| USDA | 0.1% | 0.6% |
| Home purchase | 23.8% | 52.5% |
| Rate-and-term refinance | 28.2% | 15.3% |
| Cash-out refinance | 4.5% | 14% |
Shares of originated loans by loan type and purpose, federal HMDA data (2025). They describe the lender's business mix, not the terms you would be offered.
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:
| Loan program | Typical min. down |
|---|---|
| Conventional | 3% |
| FHA | 3.5% |
| VA | 0% |
| Jumbo | 10–20% |
Strengths
- Strong branch network for in-person guidance across the Midwest and Southeast
- Community Mortgage combines no PMI, minimal down payment, and closing-cost help for eligible buyers
- Rate Drop Protector lets buyers refinance later without the bank's lender fees if rates fall
- Broad product menu including physician, construction, and both fixed- and variable-rate HELOCs
- Autopay setup earns a 0.25% interest-rate discount
Considerations
- 95.0% of Fifth Third's 2025 HMDA records were in its 11-state footprint (Ohio, Michigan, Florida, Illinois, Indiana, Kentucky, North Carolina, Tennessee, Georgia, South Carolina and West Virginia)
- USDA loans were 42 of Fifth Third's 39,534 originations in 2025 (0.1%, versus 0.6% for all lenders)
- Fifth Third's down payment help (up to $10,000) is limited to properties in 14 eligible states located in income-eligible census tracts, and funds can run out for the year.
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:
States where Fifth Third Bank is a top-15 lender
Ranked by home loans originated in 2025 (HMDA). Each state page compares Fifth Third Bank with the other leading lenders there, including FHA and VA leaders and what their borrowers paid.
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:
- Get three or more Loan Estimates in a two-week window — the bureaus treat it as one inquiry.
- Compare the APR, not just the headline rate — it folds in the fees.
- Weigh service and loan-type fit, not price alone.
- Verify licensing: search Fifth Third Bank on NMLS Consumer Access and match the NMLS ID to the one on your Loan Estimate. (Its LEI in federal HMDA data, QFROUN1UWUYU0DVIWD51, is not a license number.)
Benchmark whatever you're quoted against today's the national rate benchmark.
Fifth Third Bank FAQ
Is Fifth Third Bank a good mortgage lender?
Fifth Third Bank is a licensed U.S. mortgage lender and one of the largest, roughly #27 of 60 in our roster by 2025 volume, best for midwest & southeast.
On price, its 2025 conventional borrowers' median APR was 0.11 percentage points below the typical lender's, with $3,982 in loan costs against $5,476 market-wide.
Whether it's right for you comes down to the rate and fees it quotes — compare its Loan Estimate with two or three others.
What are Fifth Third Bank's mortgage rates today?
Fifth Third Bank sets rates daily by loan type, credit score, down payment and points, so the rate that counts is the one on your Loan Estimate.
For context, the average 30-year fixed rate was 7.18% in Freddie Mac's survey for the week of November 5, 2026; in 2025, Fifth Third Bank's conventional purchase loans closed at a median 6.50%, against 6.50% for all lenders.
How many mortgages does Fifth Third Bank originate?
In 2025, Fifth Third Bank originated about 39,534 home loans, roughly $8.0 billion in lending, per federal HMDA data — an average loan of about $202,176.
What loan types does Fifth Third Bank offer?
Fifth Third Bank offers Conventional, FHA, VA, Jumbo. Notable programs include 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.
How do I verify Fifth Third Bank is licensed?
Search the company's name on NMLS Consumer Access (nmlsconsumeraccess.org), the official registry of licensed mortgage companies and loan officers; the NMLS ID it shows is also printed on every Loan Estimate the lender issues. (The ID QFROUN1UWUYU0DVIWD51 used on this page is the company's LEI, which identifies it in federal HMDA data — not a license number.)
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.
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