Fifth Third Bank Mortgage Rates and Review

November 25, 2012 No Comments »
Fifth Third Bank Mortgage Rates and Review

Fifth Third Bank is based out fo Cincinnati, Ohio but operates in several states ranging from the midwest to the southeast. You can find bank branches in Ohio, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, Missouri, North Carolina, Pennsylvania, Tennessee, and West Virginia.

Within these states Fifth Third operates 16 affiliates with over 1,309 full service locations. If you are in the market for any type of home loan Fifth Third can, more than likely, provide you with the exact type of loan you’ll need. They provide consumers with fixed rate mortgages, adjustable rate mortgages, jumbo loans, FHA loans, VA loans, construction and/or lot loans as well as interest only loans.

Mortgage Rates offered through Fifth Third Bank:

Product
Rate
APR
30 year fixed 3.50% 3.52%
20 year fixed 3.375% 3.415%
15 year fixed 2.875% 2.904%
10 year fixed 2.875% 2.904%
3/1 ARM 2.750% 2.808%
5/1 ARM 2.625% 2.692%
7/1 ARM 2.875% 2.973%
10/1 ARM Interest Only 3.000% 3.039%

The above rates assume a 20% down payment on a $140,00 loan and are subject to change based on credit history.  Every rate quoted above assumes zero points except for the 10/ARM interest only loan which assumes 0.50 points. For updated mortgage rates and to review their terms and conditions you can visit their mortgage center here.

When looking for consumer reviews, we scoured a number of message boards and popular finance sites to get an accurate assessment of the type of feedback that was being left. We don’t, generally, trust all the reviews we come across though as they are easily forged (by either people pushing the bank or disgruntled customers reviewing under a number of aliases). We usually find the BBB (Better Business Bureau) to be an accurate third party business practice assessor. In Fifth Third Bank’s case, the BBB has them rated as an “A” despite having a number of complaints – all of which have been closed and resolved.

The BBB doesn’t provide a great amount of depth into the complaints, however, we do have some idea of where they are lacking. Fifth Third Bank has a total of 1695 registered complaints with the BBB. Of these nearly 1700 complaints, 1146 revolved around problems with the actual product or service, 454 had to do with billing and collection issues and 93 had to do with misleading advertising or sales.

If you have experience in the mortgage or home loan process with Fifth Third Bank, please share you experience by leaving a comment below.

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