Fifth Third Bank HELOC Review 2026
Last updated on August 25, 2026
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Our Take
5.0
HELOCs
NerdWallet rating
The Nerdy headline:
Fifth Third Bank stands out for charging no closing costs on its HELOCs, which are referred to as Equity Flexlines. You won't have to worry about minimum draw requirements (unless you live in Texas), and you could qualify with a combined loan-to-value (CLTV) ratio of up to 90% — a higher limit compared to some lenders. You also have the option to convert some or all of your balance to a fixed rate.
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Fifth Third Bank: NMLS#403245
National / regional
Regional
Min. credit score
660
Max LTV
90%
Loan types and products
N/A
Pros
- No closing costs.
- Offers a fixed-rate option.
- Autopay discount available.
Cons
- Available in only 15 states.
- Charges a $65 annual fee (waived for the first year) and a $95 fee to lock in a fixed rate.
- Adds 0.25% to the rate for HELOCs secured by a second or investment home.
Full Review
đź’˛Fifth Third Bank HELOC Rates
HELOC rates are determined by two things. The first is the prime rate, which is what banks pay to borrow from one another. The second part is a margin, which the lender calculates based on your financial qualifications (including your credit score, existing debts and income). The prime rate plus your margin equals your HELOC rate offer.
Current prime rate — last changed Dec. 2025 | Prime rate last week | Prime rate in the past year — low | Prime rate in the past year — high | Projected median prime rate for 2026 |
|---|---|---|---|---|
6.75% | 6.75% | 6.75% | 7.5% | 6.8% |
Sample rates for available states are posted online.
đź‘Ť Reasons to get a Fifth Third Bank HELOC
Fifth Third Bank accepts CLTV ratios of up to 90% for its HELOCs. Fifth Third HELOCs also come with a 30-year repayment term (which includes a 10-year draw period) and allow borrowers to fix their rate on some or all of their balance.
There are no initial or minimum draw requirements (unless you live in Texas, where the minimum draw is $4,000), and you can get an autopay discount if you make payments from an eligible Fifth Third checking account. HELOCs are available for second homes and investment properties.
» MORE: Best HELOC lenders
🤔 Reasons why Fifth Third Bank’s HELOC gives us pause
A major disadvantage of Fifth Third Bank is that, despite being a federally chartered bank, its home equity options are available in only 15 states. And unlike several other lenders, Fifth Third Bank doesn’t offer a lower introductory rate for its HELOCs. It can take longer to close on a Fifth Third HELOC compared to other lenders, too — 39 days on average, which is higher than many other lenders surveyed by NerdWallet in 2026.
Fifth Third also charges a $65 annual fee, though it’s waived for the first year (and doesn’t apply to borrowers with a Preferred Premium banking relationship), plus a $95 fee to lock in a fixed rate.
Additionally, you’ll have an extra 0.25% tacked onto your rate if your HELOC is secured by a multi-unit or non-owner occupied property. If it’s secured by a condo, you may have to pay a fee of up to $600 to your homeowners association.
đź“Ž Ways to apply for a Fifth Third Bank HELOC
How to Apply | Availability |
Online 🧑‍💻 | ✅ |
Over the phone đź“ž | âś… |
Mobile app 📶 | 🚫 |
In person 🏦 | ✅ |
Borrowers can contact Fifth Third Bank in person, over the phone or via online chat.
đź›’ Alternatives to a Fifth Third Bank HELOC
Wondering if another lender or product might be a better fit? It’s worth it to shop around to learn more about your options.
If you like Fifth Third’s high CLTV ratio limit, consider Better, which also accepts ratios up to 90% and provides funding in as little as seven business days.
If you want the option to convert your HELOC balance to a fixed rate but don’t want to pay a fee to do so, TD Bank could be a good choice.
Lastly, if you’d prefer a HELOC that comes with an introductory rate, Truist provides a lower intro rate for the first nine months after you open your account.
A HELOC isn’t your only option
You can also explore products outside of HELOCs. Alternatives to home equity lines of credit include a home equity loan, which offers a lump sum with a fixed rate, or a cash-out refinance, which replaces your existing mortgage with a larger loan.
Borrow from your home’s equity
Methodology
NerdWallet rates home equity line of credit lenders based on what matters most to borrowers: HELOC rates and fees, how much of a lender’s business is dedicated to home equity lines of credit, HELOC market share, product accessibility, borrowing flexibility and features, customer experience and rate transparency.
We review more than 40 lenders and score HELOC lenders using a weighted system that prioritizes affordability, flexibility and a smooth borrowing experience. Lenders earn higher scores for offering lower borrowing costs, higher combined loan-to-value (CLTV) limits, flexible draw and repayment terms, fixed-rate options, faster closing times and clear, accessible rate information, along with strong customer support throughout the process.
We use a mix of lender-provided information, publicly available data and our own analysis to evaluate each lender. Recent regulatory actions may affect a lender’s score.