Home Possible® and
HomeReady® Mortgage

Does homeownership feel out of reach? It might be possible for you. If you are a first-time homebuyer, retiree, or have low savings, you may qualify for a Home Possible® or HomeReady® Loan. A Home Possible® Mortgage or HomeReady® Mortgage is a loan designed to reduce the barriers to homeownership for first-time homebuyers with limited income. Home Possible® and HomeReady® mortgages have many benefits including low down payment options and stable monthly payments at a fixed interest rate. Fifth Third Bank is proud to be one of the Home Possible® and HomeReady® mortgage lenders making dreams of owning a home a reality for many. Contact a Mortgage Loan Specialist to apply.

Key Benefits:

  • Low down payment options
  • Fixed rates
  • Stable monthly payments
  • Reduced mortgage insurance premiums
  • Refinancing options available
  • No cash-out allowed

Do I Qualify?

  • You have limited money available for a down payment.
  • Your income is at or below the median household income in your area.
  • You’re a first-time homebuyer or retiree.
  • 43 to 45 percent of your gross income goes to monthly debts. Use this tool to see if you qualify based on your income and the property location.

The Process

  • Step 1. Contact a Fifth Third Mortgage Loan Specialist
  • Step 2. Provide income documentation such as W-2s and bank statements to gain pre-approval
  • Step 3. Identify geographic areas of interest and evaluate eligibility
  • Step 4. Go through the traditional mortgage application process
  • Step 5. Complete a homebuyer education course

Mortgage Loan Calculators

Need help determining your what home you can afford and the estimated monthly payments? We can help! Use these easy-to-use calculators to view your total financial picture.

Calculate your monthly mortgage payment for a given purchase price, down payment, interest rate, and loan term

Find out how much you can borrow for the home of your dreams

Determine your maximum home price and mortgage loan amount

Additional Resources