Founded in 1858 and headquartered in Cincinnati, Ohio, Fifth Third Bank offers a variety of financial services including home loans.
As of December 2016, for a borrower with excellent credit purchasing a $250,000 home with a $50,000 down payment and a 30-year fixed rate loan from Fifth Third Bank, the interest rate comes out to be 4.13 percent, which is very competitive within the industry.
In order to make the home loan process less confusing and easier to follow, Fifth Third Bank provides it borrowers with frequent updates about the status of their loan to ensure that the borrower is kept in the loop.
Fifth Third Bank offers a mobile app that is compatible with Apple and Android devices.
Fifth Third Bank has not disclosed closing costs or credit score requirements on its corporate website, making it difficult for potential borrowers to know what to expect in these areas.
Received a good mortgage rate at time of home purchase. Haven't had any problems
My experience was the exact same as the previous complaint. I sent everything over and then they said they couldn't verify my income. My pay stubs, w2s and tax returns weren't enough. They wanted an additional letter from my employer but wouldn't tell me what. 10 days after my first closing date was scheduled they denied my loan. I had to find a new lender and was charged an extra $5500 from the seller.
Do not do mortgage !!! Loan officer goes on maternity leave with no email telling us she was on leave nor did we even know she was pregnant! She didn't even say hey I'll be out contact this person ! Loan in underwriting for almost a month and they pull out for verification of previous employer which they have record of all direct deposit seeing as I bank with them ! We are beyond upset with them! Got pre approved over 7 weeks ago found a home in 2 days of course it's a sellers market! Provided all documents needed the had to ask us for maybe 3 items! We told them the previous employer would not verify due to the labor law being called on him for illegal time clocks. Provided w2 tax return and I bank with them so they could pull up every direct deposit made from them well loan goes into underwriting a week later we provide a paystub from previous employer as they asked ok no problem on tj next get home insurance as they told us we did well 4 weeks later at 5pm underwriter calls home insurer says we have closing date ! Insurer calls us for authorization to start policy we call underwriter he says everything looks good 1 hour later get an email .. worth can't approve unless we have verification of previous employer !! What 4 weeks later this place is a joke our loan is now with another mortgage company whom says that should of been addressed before we have 1200 $ into fifth third.. COMMUNICATION is awful