Lender review
Fifth Third Bank review: what Michigan borrowers should know
Best for: existing bank customers who want branch access and closing-cost discounts
- Headquarters
- Cincinnati, OH
- Founded
- 1858
- NMLS
- #403245
- Min. credit score
- 620
- Min. down payment
- 3%
Fifth Third is a top-20 U.S. bank with a heavy branch footprint across Michigan, and its 2026 absorption of Comerica made it the state's largest deposit holder. Buyers who bank there can shave closing costs through relationship pricing, and its Community Mortgage program helps lower-income borrowers. Service moves at big-bank pace.
Fifth Third's Michigan footprint changed overnight in 2026, when it absorbed Comerica and became the state's largest deposit holder. For buyers, that means an enormous branch network stretching from Detroit's suburbs to the west side, and the old comfort of walking into a lobby to sort out a mortgage question in person rather than through a phone tree.
The bank rewards loyalty in concrete ways. Existing checking customers can trim closing costs through relationship pricing, and its Community Mortgage program is built for lower-income borrowers who need help clearing the down-payment hurdle. If your paycheck already lands in a Fifth Third account, stacking the mortgage on top can genuinely lower what you bring to the table.
Two gaps deserve a flag before you commit. There's no USDA product, which quietly rules out zero-down financing on rural parcels in mid-Michigan and up north. And the underwriting moves at deliberate bank speed, so in a bidding war against a nimble independent lender, a Fifth Third pre-approval can feel a step slower than the moment demands.
What works
- Deep Michigan branch network for in-person help
- Closing-cost discounts tied to Fifth Third checking accounts
- Down-payment-assistance and low-income Community Mortgage options
What to watch
- Bank-speed underwriting can lag independent lenders on close times
- Rates and fees are loan-officer-dependent, not posted online
- No USDA loans, a gap for rural Michigan buyers
Loan programs at Fifth Third Bank
Which core Michigan loan types Fifth Third Bank offers, with the typical minimum down payment for each program. Program floors are industry standards — Fifth Third Bank's own minimums or credit overlays may run higher.
| Loan program | Offered | Typical min. down |
|---|---|---|
| Conventional | ✓ Yes | 3% |
| FHA | ✓ Yes | 3.5% |
| VA | ✓ Yes | 0% |
| USDA | — No | — |
| Jumbo | ✓ Yes | 10–20% |
| Construction | — No | — |
Where Fifth Third Bank's credit bar sits
Fifth Third Bank's roughly 620 minimum sits in the good credit range. Plotted below: where a 620 minimum lands on the credit spectrum, versus the 620 median for Michigan lenders in our data.
| Fifth Third Bank | Michigan median* | |
|---|---|---|
| Editorial score | 3.9 / 5 | 4.0 / 5 |
| Min. credit score | 620 | 620 |
| Loan programs offered | 4 | 5 |
| Michigan-headquartered | No | — |
*Median across the 55 Michigan lenders in our catalog.
How Fifth Third Bank's rates and offers compare
Before committing, pull a same-day quote from at least two competitors — pricing gaps of 0.25% are common for identical borrowers. Start with PNC Bank, U.S. Bank or Bank of America, then compare Loan Estimates line by line. Current market averages are in our Michigan rate table.
Fifth Third Bank: frequently asked questions
What are Fifth Third Bank's mortgage rates in Michigan?
Fifth Third Bank doesn't post one rate — like every lender, its pricing turns on your credit score, down payment, loan size and the day you lock. It doesn't publish live rates online, so you'll need to request a personalized quote. The reliable move: pull a written Loan Estimate from Fifth Third Bank and set it beside this week's Michigan averages in our rate table, comparing on the same day.
Is Fifth Third Bank a legitimate mortgage lender?
Yes. Fifth Third Bank is a licensed mortgage lender registered under NMLS #403245 and lending since 1858. You can confirm that registration and any disciplinary history free at NMLS Consumer Access. Our editors give it 3.9/5 for Michigan buyers; placement here cannot be bought.
What credit score do you need for a Fifth Third Bank mortgage?
Fifth Third Bank generally looks for a credit score around 620 on its most common loans. Its FHA loans can go lower — often to 580, or 500 with a larger down payment — while conventional and jumbo loans usually want higher scores. Every lender layers on its own overlays, so read 620 as a floor, not a promise.
Does Fifth Third Bank offer FHA, VA and USDA loans?
Fifth Third Bank offers FHA and VA loans to Michigan borrowers. It does not currently offer USDA loans — buyers who need that should compare a lender that does. Its complete Michigan lineup is Conventional, FHA, VA, Jumbo.
Does Fifth Third Bank lend in Michigan?
Yes. Although Fifth Third Bank is headquartered in Cincinnati, OH, it is licensed to lend in Michigan and actively originates purchase and refinance loans across the state, from metro Detroit to the Upper Peninsula.
Will Fifth Third Bank sell my mortgage after closing?
It may. Many lenders sell the servicing rights to a loan after closing, so ask Fifth Third Bank directly whether it retains servicing or transfers it — your rate and terms won't change either way.
Independent and unpaid — Fifth Third Bank did not pay for placement. How we score every lender (and where our rate data comes from) is set out in our editorial policy. Figures reflect public information as of 2026-07-01 and can change; the only rate that binds a lender is a written Loan Estimate. Verify the license at NMLS Consumer Access (#403245).