Huntington National Bank Mortgage Options and Requirements Explained

Huntington National Bank offers a range of mortgage options to suit different needs and financial situations.

To qualify for a mortgage with Huntington National Bank, you'll typically need a credit score of 620 or higher, a debt-to-income ratio of 43% or less, and a stable income.

Huntington National Bank offers fixed-rate and adjustable-rate mortgages, with terms ranging from 10 to 30 years.

You can choose from a variety of mortgage products, including conventional, FHA, and VA loans, each with its own set of requirements and benefits.

Huntington National Bank doesn't reveal its loan requirements until you apply, but your interest rate is based on your down payment, credit score, the loan-to-value ratio of the property, property type and occupancy, and other factors relating to your personal financial situation.

To get a mortgage quote, you can fill out a form on the Huntington Bank website, which will allow a loan officer to contact you within 24 hours to walk you through the results. You can also start the preapproval process online in a few quick steps.

Huntington National Bank offers a range of loan and mortgage products, including personal loans, mortgages, home equity lines of credit (HELOC), and auto loans.

Here are some key reasons why customers choose Huntington for their loan needs:

Huntington offers a wide range of loan products, including conventional, jumbo, FHA, VA, USDA, and Home Equity/HELOC loans.

You can refinance your existing loan with Huntington's refinance options.

Huntington doesn't explicitly state a minimum credit score requirement, but most lenders require a minimum credit score of 620 for a conventional loan.

The company is only available in seven states: Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania, and West Virginia.

Here are some key features of Huntington's mortgage products:

National Bank Requirements can be a mystery, but we can break it down for you. Huntington National Bank doesn't reveal its loan requirements until you apply.

Your interest rate is based on several factors, including your down payment. A higher down payment can lead to a lower interest rate. Credit score is another important factor, with better scores resulting in lower rates. The loan-to-value ratio of the property also plays a role, with lower ratios often getting better rates. Property type and occupancy can also impact your interest rate.

The applicant's income plays a significant role in determining the likelihood of a mortgage being approved. The data shows that The Huntington National Bank lent most frequently to those with incomes in the $100k-150k range, with 10,820 originations.

According to the data, the second most popular income band was $50k-75k, with 10,487 originations. This suggests that borrowers in this income range are also attractive to lenders.

The average loan amount for borrowers in the $100k-150k income range was $161,445, with average fees of $4,168 and an average interest rate of 8.14%. In contrast, borrowers in the $50k-75k income range received an average loan of $112,207, with average fees of $3,634 and an average interest rate of 8.18%.

Here's a breakdown of the average loan amounts and interest rates for different income ranges:

These figures illustrate the varying loan amounts and interest rates offered to borrowers across different income ranges.

Huntington National Bank's fees can add up quickly. The bank doesn't list all its fees upfront, but you can expect to pay an application fee on most loans.

You'll also need to pay appraisal and title fees, which are part of the larger category of other closing costs. These can include various expenses, but the exact fees aren't specified.

State taxes will also be required, and you'll need to provide insurance for the property. This is a standard part of the mortgage process.

The average total fees for a 30-year fixed-rate mortgage at Huntington National Bank were $5,684. This includes both origination fees and closing costs.

The most frequently occurring range of origination fees (closing costs) at Huntington National Bank was in the $1k-2k bucket, with 9,969 originations. This suggests that many borrowers can expect to pay fees in this range.

Here's a breakdown of the average total fees for different ranges of origination fees:

Keep in mind that these are just averages, and your actual fees may vary.

You can get a personalized mortgage quote from a loan officer at Huntington National Bank by filling out a form on their website. Just visit the website, select the "Borrowing" tab, and then choose "Mortgage 101: Our Tips & Tools."

To get a quote, you'll need to enter your personal information, details about the property or loan type, and verification information. You can also choose to include your credit report to get a more accurate quote.

A Huntington National loan officer will contact you within 24 hours to walk you through the results of your quote. This is a great way to get a sense of what your mortgage options are and what you can expect.

If you're ready to start the preapproval process, you can do so quickly and easily on the website. Just go to the home page, select "Personal", and then choose "Mortgage Pre-Approval."

To get started, fill out the inquiry form, and a loan officer will contact you within 24 hours to complete the process.

Here are some special programs and services offered by Huntington National Bank:

* Program/ServiceDescriptionRelocation servicesHuntington offers special options for employees relocating for work, including billing the company directly for closing costs and waiving PMI for borrowers with a 10% down payment.Down payment assistanceHuntington works with state bond programs to help with down payments.Discount for nursesLicensed medical nurses get $500 off their closing costs.

Huntington National Bank offers a variety of mortgage options to suit different needs.

You can choose from standard mortgage purchase and refinance options typical of most banks.

The lender provides special programs and services not widely available, including relocation services and down payment assistance.

Here are some of the special programs and services offered by Huntington National Bank:

Huntington also offers FHA and VA loans, which are specialized loan programs for certain borrowers.

If you're looking for a mortgage option that's a smaller regional bank but still offers a variety of loan types, Huntington National might be worth considering.

The bank has some great online educational tools to help you learn about the mortgage process.

However, the rate quote and preapproval tools are just contact forms that require a call back from a loan officer to get personalized information.

Borrowers who want to do more research online or live outside the bank's seven-state footprint may want to shop around for a better fit.

Conventional Mortgages offer flexibility in terms of interest rates and loan terms. You can choose between fixed-rate and adjustable-rate mortgages, where the interest rate stays the same or fluctuates based on market conditions.

One key benefit of conventional mortgages is the variety of loan terms available, typically ranging from 15 to 30 years. This allows you to choose a mortgage structure that suits your financial situation and long-term goals.

Conventional Mortgages also provide low down payment options, making it easier for first-time homebuyers or those with limited savings to purchase a home. This can be a huge relief for those who may not have a lot of money saved up for a down payment.

Here are some specific loan term options to consider:

Keep in mind that shorter-term mortgages usually offer lower interest rates but higher monthly payments, while longer-term mortgages offer lower payments with higher interest over time.

Huntington National Bank mortgage offers a variety of loan options, including fixed-rate and adjustable-rate loans.

The minimum loan amount for a fixed-rate loan is $50,000, while the maximum loan amount is $2 million.

You can choose from loan terms ranging from 10 to 30 years.

Huntington National Bank mortgage also offers a 3/2/1 ARM loan option, which offers a lower interest rate for the first three years.

The loan application process typically takes 30 to 45 days to complete.

Huntington National Bank mortgage offers a loan discount of 0.25% to 0.50% for borrowers who pay a fee to reduce their interest rate.

The bank's loan origination fee is 0.5% to 1.0% of the loan amount.

You can apply for a mortgage online, by phone, or in person at a Huntington National Bank branch.

Huntington National Bank mortgage also offers a mortgage calculator on their website to help you estimate your monthly payments.

The bank requires a minimum credit score of 620 to qualify for a mortgage.

Huntington National Bank mortgage offers a variety of mortgage insurance options, including private mortgage insurance (PMI) and mortgage insurance premium (MIP).

If you're considering Huntington National Bank for your mortgage, you might want to explore other options too. We've identified some similar lenders that offer competitive rates and fees.

Here are a few lenders that match up well with Huntington National Bank:

These lenders offer a range of mortgage products and services, including relocation services, down payment assistance, and discounts for certain professionals.

If you're considering Huntington National Bank for your mortgage needs, you might want to explore other lenders that offer similar rates and fees.

Huntington National Bank uses machine learning to identify top lenders compared to itself, based on their rates and fees, among other metrics.

A lower similarity rank from Huntington's analysis signals a stronger match between another lender and your needs.

You can check out the list of similar lenders to see how they stack up against Huntington National Bank.

Keep in mind that a lower similarity rank doesn't necessarily mean a lender is the best fit for you, but it's a good starting point for your research.

Huntington National Bank has started a corporate mortgage finance business, offering customers a more comprehensive solution than standalone warehouse credit. This is a big deal for mortgage companies.

The bank's new business will provide financing on servicing rights to independent mortgage bankers, financial institutions, and real estate investment trusts. This is in addition to providing warehouse lending.

Ken Logan, a 35-year industry veteran, has joined Huntington as senior managing director. He previously worked at Wells Fargo and Signature Bank.

Huntington already had five "mortgage-centric" activities in the bank, including a team for specialized cash and treasury management needs of mortgage servicers. The bank also provides capital markets, fund finance, and other products and services to mortgage business participants.

The bank didn't have mortgage asset financing, so this new business is a welcome addition. It will help mortgage companies who want to monetize their investment.

As rules evolve, especially with Basel III, banks with balance sheet and/or capital constraints will be stepping back. Huntington is stepping in to fill this gap.

Huntington has built a broad set of best-in-class capabilities to serve mortgage originators and servicers. This is backed by highly experienced leaders who understand clients' needs.