Fifth Third Bank HELOC and Home Loan Review: Rates, Features and More

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Fifth Third Bank is a strong option for homeowners looking for a HELOC or home equity loan, especially if want a low intro APR and don’t mind a variable rate up to 15.50%.

Read on to learn what Fifth Third Bank offers, how its rates and fees stack up and who can qualify.

Quick Summary: Is Fifth Third the Right Pick for You?

Ideal For

• Borrowers with a high credit score
• Homeowners seeking low or no closing costs and immediate cash availability
• Homeowners looking to borrow $10,000 to $500,000

Not Ideal For

• People with credit scores under 750 — or 720 for an Easy Home Refi
• Investors or non-owner occupied properties
• Homeowners who aren’t in one of the 11 states Fifth Third Bank serves

Good To Know

Fifth Third Bank home equity products are only available to residents of Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, South Carolina, Tennessee and West Virginia.

Pros and Cons of Fifth Third Bank Home Equity Products

Fifth Third Bank HELOCs and home equity loans come with pros and cons that customers should consider:

What Types of Home Equity Products Does Fifth Third Bank Offer?

Fifth Third Bank offers a variety of home equity products, including the following:

• Variable-rate Flexline home equity line of credit
• Traditional home equity loan with a fixed rate
• Refi loan with the potential to take cash out

While all three options allow you to borrow against your home’s equity to pay off higher-interest debt, make home improvements or cover other expenses, there are some differences you should understand.

Fifth Third Bank HELOC

• Variable rate, 10-year draw, 20-year repayment
• Often includes options to convert the balance to a fixed rate
• No closing costs

The Fifth Third Bank HELOC, known as the Equity Flexline, lets you draw funds anytime during the first 10 years using a check, debit card, ATM, online banking or at a Fifth Third branch.

You’ll make interest-only payments for the first 10 years. Lock in a fixed rate with a $95 fee.

Fifth Third Bank Home Equity Loan

• Fixed-rate, lump-sum payment
• Availability varies by state
• No closing costs

The Fifth Third home equity loan offers a fixed rate. It also comes with fixed monthly payments of principal and interest.

Fifth Third customers who make automatic payments from their checking account will receive a 0.25% interest rate discount.

Fifth Third Bank Easy Home ReFi

• Fixed-rate, lump-sum payment
• Refinance your current mortgage at a potentially lower rate

Fifth Third’s Easy Home ReFi allows you to refinance your mortgage at a lower interest rate. You can borrow more than you currently owe and use the additional funds to pay down higher-interest debt, invest in home improvements or spend as you’d like.

The Easy Home ReFi replaces your current mortgage and has a $299 closing cost.

Home Equity Loan vs. Home Equity Line of Credit

A home equity loan and HELOC both let you borrow against your home’s equity, but they work differently.

• A home equity loan gives you a fixed lump sum with set monthly payments of principal and interest.
• A HELOC allows you to draw cash as needed and repay it over time.
• Your current mortgage stays intact with either option.

What Rates and Discounts Can You Get?

• Typical APR range: APRs range from 6.97% to 15.50%, and will not exceed 25%
• Rate discounts: 0.25% off for automatic payments from a Fifth Third Bank account
• Keep in mind: Actual APRs will vary depending on our state, loan amount, LTV ratio and credit profile.

Are There Fees or Closing Costs?

All three Fifth Third Bank home equity products are free from application fees, but there are some other fees to be aware of:

• The Easy Home ReFi mortgage charges closing costs of $299.
• To lock in a rate on the Fifth Third Bank HELOC, you’ll pay a $95 fee. There is no cost to unlock the rate.
• The HELOC also includes a $65 annual fee, waived for the first year.
• Homeowners in condominiums may have to pay a questionnaire fee to the homeowner’s association. This fee can be as high as $600.
• Homeowners may have to pay appraisal or title fees prior to loan approval.

Who Qualifies for a Home Equity Product?

• Credit score: A score of 720 to 750 is recommended
• Equity requirement: You’ll need 20% to 30% equity in your home to qualify. You can borrow up to 70% to 80% of the home’s equity.
• Other requirements: Proof of income, low debt-to-income ratio under 43%

Fifth Third Bank offers its best rates to borrowers with strong credit and solid equity. For a HELOC or home equity loan, a credit score of at least 750 and a loan-to-value ratio of 70% or lower are recommended. For the Easy Home Refi, a credit score of at least 720 and an LTV of up to 80% are ideal.

Can You Qualify?

• Your FICO credit score is good to excellent.
• You have enough equity in the home that you can borrow at least $10,000 and maintain an LTV ratio of 70% to 80%.
• You have a low debt-to-income ratio.
• You are the primary resident.

What’s the Application Process Like?

• How to apply: You can begin your loan application online. However, you’ll need to complete your application by phone or in-person at a Fifth Third branch, where you will work directly with a loan officer.
• Prequalification: You can find out if you’re prequalified when you begin your application.
• Funding time: You’ll receive funds the same day the loan closes. However, due to the loan process and no online application, approval and closing may not be immediate.
• Documents needed: You’ll need to provide documents like proof of income, property tax info and a mortgage statement.

How Does Fifth Third Compare to Other Lenders?

Here’s how Fifth Third Bank stacks up against other lenders when it comes to credit requirements, APR ranges and relationship discounts:

Fifth Third Bank Reputation and Customer Feedback

Fifth Third Bank has a mixed reputation when it comes to customer service and satisfaction.

• Better Business Bureau (BBB): 1.13 out of 5 stars
• Trustpilot: 1.3 out of 5 stars
• Common complaints: These include issues with mobile banking and poor customer service.
• Positive feedback: Some customers highlight competitive rates and helpful in-branch service.

As with any lender, experiences can vary based on location and the loan officer. It’s worth reading up on local reviews or asking around in your area before applying.

Final Verdict: Should You Choose Fifth Third Bank?

Choose Fifth Third Bank If

• You’re an existing customer eligible for discounts.
• You want to borrow between $10,000 and $500,000.
• You live in one of the 11 states with access to Fifth Third banking products.

Look Elsewhere If

• You have lower credit or need quicker funding.
• You prefer a fully fixed-rate product.
• You don’t live in one of the 11 states Fifth Third Bank serves.

Key Takeaways

• Fifth Third Bank offers: Variable rate HELOCs, a home equity loan and a cash-out refinance product with competitive rates.
• Minimum credit score: 720 to 750 is recommended for best terms
• Qualifications: To qualify, most users will need 20% to 30% home equity, a good credit score and a solid income.
• Application: You can start a loan application online, but you will need to speak to a representative on the phone or in person to provide documentation and take the next steps toward closing.
• Best for: Borrowers with good-to-excellent credit in Fifth Third’s service areas.

Data is accurate as of July 14, 2025, and is subject to change.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

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