Based on your responses, we think you may be interested in the following loans:

There are many different types of ARMs, but the most common are 5/6, 7/6, and 10/6. The first number indicates how many years the initial fixed-rate period will last, and the second number determines how often the rate will change every year over the 30 year term of the loan. For example, a 5/6 ARM has a fixed-rate for five years followed by an adjustment in the interest rate every six months.

An ARM might be a great option for you if you’re planning to move or sell your home after a few years, are planning to repay your loan in a short amount of time or want a lower initial monthly payment and don’t mind a variable interest rate.

• $299 closing costs³
• Fixed rate and term 
• Interest may be tax deductible⁴
• Quick and easy mortgage refinance option
• No additional costs for cash out options

• Revolving line of credit
• No closing costs
• Interest only payments for the first 10 years^1,6
• Interest may be tax deductible⁵
• Funds available via online/mobile, in person at a branch, checks, Fifth Third Flexline Mastercard^®, or at an ATM
• Use the Fifth Third Equity Flexline Mastercard^® to enjoy easy access to your home equity line of credit

Step 1: Getting Started

During this step, you will want to work with a loan professional to help you review the options available to you and determine what will best suit your circumstances and needs.

Step 2: Completing Your Application

Now it's time to complete your application. Things like your credit may be pulled and paperwork is collected from you to confirm employment and income as required. Don’t worry, these are things you already have handy like pay stubs, tax forms, etc. Depending on the loan you move forward with, you may receive a Loan Estimate (LE) within 3 days of completing your application, which will you give you a complete and detailed breakdown of the costs associated with your loan.

Step 3: Bringing It Together

This step includes combining your application with the documents you have provided. We’ll review these items and may require additional paperwork depending on the type of mortgage. If an appraisal is required, it will be ordered during this stage.

Step 4: Reviewing the Facts

In this step, your application and supporting documents will be evaluated in detail. If necessary, we will verify your income and assets, and check the guidelines to make sure we have thoroughly completed the evaluation.

Step 5: Meeting the Criteria

Some applications may meet the initial loan criteria but still need a few more items to move it forward. If this is the case with your application, you’ll be hearing from us to explain what’s needed.

Step 6: Getting to the Finish Line

This is the final step in the mortgage process. You will be hearing from us about any remaining details so we can each make sure we have everything we need. Additionally, if a Title company is needed, they will set up a meeting for you to come in and sign all required closing documents. You will be provided a Closing Disclosure in advance of your closing that, like the loan estimate you got at the beginning, breaks down all the associated costs and elements of your mortgage.

Step 7: Done!

Congratulations! Your refinance is complete.