Fifth Third Mortgage Company Offers Additional Discounts to Home Buyers
Cincinnati – Fifth Third Mortgage Company, a subsidiary of Fifth Third Bank and the 13th largest mortgage originator in the country (Inside Mortgage Finance, First Quarter 2011), today announced additional incentives for homebuyers.
For a limited time, Fifth Third Mortgage is offering customers a choice on a new purchase mortgage incentive. Customers can select either a 1% interest rate reduction for the first year of the mortgage or take a 1/8th percent (.125%) interest rate reduction for the life of the loan. This special discount is available on new fixed rate purchase mortgages only and is not available on bond, rural housing, investment, construction to perm or lot programs and expires on 8/31/11.
“While our mortgage rates continue to be some of the most competitive in the market, we want to do everything we can to help our customers save as much money as possible,” said Bob Lewis, president of Fifth Third Mortgage Company. “In addition, we believe it’s important to give our customers options – letting them choose which incentive works best for their needs and their lifestyles.” Lewis explained that, in addition to the incentives mentioned, Fifth Third also is offering an additional ½ percent discount point savings (an estimated $750 savings) if a customer has the monthly mortgage payment automatically deducted from a Fifth Third Bank account.
For more information on Fifth Third’s mortgage incentives, call, click or come into any Fifth Third Banking Center.
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $110 billion in assets and operates 15 affiliates with 1,316 full-service Banking Centers, including 103 Bank Mart® locations open seven days a week inside select grocery stores and 2,445 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has a 49% interest in Vantiv, formerly Fifth Third. Fifth Third is among the largest money managers in the Midwest and, as of March 31, 2011, had $274 billion in assets under care, of which it managed $26 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at www.53.com. Fifth Third's common stock is traded on the NASDAQ® National Global Select Market under the symbol "FITB." Member FDIC. Equal Housing Lender.