Home Possible® and HomeReady® Mortgage
A little low on savings? Your dream of homeownership can still come true.
We're here to help:
Does homeownership feel out of reach?
Whether you're a first-time homebuyer, retiree, or have limited savings, you may qualify for a Home Possible® or HomeReady® loan—available on both fixed-rate and adjustable-rate mortgages (ARMs).1 These programs are designed to make homeownership more accessible by offering low down payment options. At Fifth Third Bank, we're proud to offer these solutions to help make the dream of owning a home a reality.
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?
- 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. Get pre-approved
- 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 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
Home Possible and HomeReady FAQs
Additional Resources
We're here to help: