Lender review
Fifth Third Bank review: what Michigan borrowers should know
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.
Best for: existing bank customers who want branch access and closing-cost discounts
Best fit: existing Fifth Third account holders
- Headquarters
- Cincinnati, OH
- Founded
- 1858
- NMLS
- #403245
- Min. credit score
- 620
- Min. down payment
- 3%
- MSHDA MI Home Loan
- Approved lender
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
The full picture on Fifth Third Bank
Fifth Third's Michigan footprint changed overnight in 2026, when it absorbed Comerica and became the state's largest deposit holder. That means an enormous branch network from Detroit's suburbs to the west side.
Rewards for existing customers
The bank rewards loyalty in concrete ways, and its assistance programs target buyers who need help clearing the down-payment hurdle.
Two gaps to flag
There's no USDA product, which quietly rules out zero-down financing on rural parcels in mid-Michigan and up north.
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.
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. Below, that 620 floor is plotted against the four broad credit tiers and the 620 median for the 55 Michigan lenders we track.
| 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.
Compare: PNC Bank U.S. Bank Bank of America This week's Michigan rates
Fifth Third Bank: frequently asked questions
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. That 620 is a floor, not a promise: every lender layers on its own overlays, and approval still turns on your income, debts and the property.
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 2026-07-16 and can change; the only rate that binds a lender is a written Loan Estimate. Verify the license at NMLS Consumer Access (#403245). MSHDA status reflects the state's MI Home Loan lending-partners list dated June 12, 2026, which changes over time.