Mortgage Refinance Huntington Bank: How to Lower Your Monthly Payments

jhsheeraz January 28, 2023

Huntington Bank Overview

Loan products offered: Conventional, Jumbo, FHA, VA, USDA, Home Equity/HELOC, Refinance Only available in: IL, IN, KY, MI, OH, PA, WV in the US states.

While we don’t know Huntington’s minimal credit score for a conventional loan, the industry standard is 620.

Requirements of Huntington National Bank

You will know what the bank needs from you for a loan once you apply, but the interest rate it offers will depend on details like your down payment, credit history, the loan-to-value ratio of the property, the kind of occupancy, and more.

Documentation

You will need the following materials to begin the application process:

If available, a copy of the signed purchase agreement between the property’s purchasers and sellers
To apply, everyone needs a social security number.
W-2 forms for the previous two years in addition to your most recent two years of tax returns and a profit and loss statement if you are self-employed.
current year-to-date pay slip
Financial institution and account details for all active loans
Statements and account history for the past three months from relevant financial institutions, including investment and retirement accounts.
Evidence of child and spousal support payments, if applicable
Certificate of Eligibility from the VA, if Required
Give specifics about any rental properties you own, if appropriate.
Your lease agreement, if applicable.
Filing for bankruptcy and receiving a discharge during the past seven years

Fees and Costs

Not all Huntington costs are disclosed on the website. However, you can count on paying at least these.

Application fees, appraisal fees, title fees, and other closing charges include origination fees, broker fees, rate-lock fees, and processing fees on most loans.

You must also maintain property insurance and pay applicable state taxes.

Getting a mortgage with Huntington National Bank: Step-by-Step Instructions

You can’t apply for a mortgage online with this bank, but you can fill out a form to get an estimate of your interest rate and monthly payment. If you agree to let the bank pull your credit report, they can tailor the quotation to your unique circumstances.

Here’s what you need to do to get a quote:

Check out the homepage for Huntington Bank. Go to the Borrowing menu and then click on Mortgage 101: Our Tips & Tools.

Pick Get a Quote at the bottom of the page. If you’re ready to purchase, click Get Purchase Quote.

Put your details here.

Key in the property details or loan details.

Select whether or not to include your credit report and provide verification information.

Choose the Submit button.

The loan representative from Huntington National will get in touch with you within 24 hours to go over the results.
It takes just a few simple clicks to get started with the preapproval procedure on the internet.

Visit the Personal tab on Huntington Bank’s main page.

Pick Mortgage Pre-Approval.

To begin, click the Get Started button.

Complete the feedback form.

Once again, a loan officer from Huntington Bank will be in touch with you within the next business day to finalize the process.

Can you tell me about the mortgage options available from Huntington National Bank?

Conventional \ FHA \ VA \ USDA \ Jumbo

Applications to refinance a mortgage with this firm are welcome.

Other mortgage products offered by Huntington National

Huntington National Bank also provides various alternative mortgage options, including specialized loans and those designed to help you cash in on your home’s equity.

Home equity loans

It is borrowing against a homeowner’s equity. Please apply for a loan with no application cost and take advantage of the flexible terms and savings to make repairs and upgrades to your property that will increase its value.

HELOCs

HELOCs. Huntington provides a home equity line of credit (HELOC) with fixed rates and a 10-year access period to access your equity without taking out a traditional loan.

Mortgage refinance loans

Refinancing mortgages. Waived application fees and reduced closing expenses can help you lower your monthly payments or access your equity.

Doctor loans

Money for doctors. Doctors and other medical professionals can acquire house loans with no down payment, no mortgage insurance, and no prepayment penalties.

Construction loans

The borrowing of funds for building purposes. Huntington allows you to consolidate the closing fees on your construction loan and your permanent mortgage loan into a single closing when financing a new home build. During your loan’s locked-in phase, you can “float down” to a lower interest rate.

Home improvement loans

Finance for fixing up the house. Your home improvement loan might be up to $250,000 on top of your purchase or refinancing loan, provided the work you do would raise the value of your house.

When compared to other mortgage offerings, how does Huntington National Bank fare?

Huntington provides the same range of alternatives for purchasing or refinancing a mortgage as any other central bank. Although the lender does not disclose its minimum credit score or required down payment beforehand, the rates and terms are competitive with those offered by other banks of a similar size. However, Huntington offers a few specialized options that can only be found there.

Relocation services

Help with moving. Huntington provides unique choices for workers who must relocate due to their jobs, such as charging the employer directly for closing costs, removing private mortgage insurance for borrowers with a 10% down payment, and allowing for higher debt-to-income ratios.

Down payment assistance

Help with the down payment. Regarding down payments, this lender cooperates with state bond programs in the states it serves.

Discount for nurses

Nursing staff receives a discount. Closing fees are discounted by $500 for registered nurses.

Negative and positive Reviews about Huntington National Bank

Since 1921, Huntington National Bank has been a BBB-accredited business; as of July 2022, it has earned an A+ grade. Since 2015, the bank has resolved 432 of the 1,050 official complaints filed against it.

The bank’s small size means few customer ratings are available beyond the BBB’s 277 evaluations, which average out to a rating of little over 1 star. Customers need help with customer service when it comes to issues like not getting answers from agents, not being able to speak to managers or higher-ups directly, and poor email response times.

Huntington National Bank: the Pros and Cons

Pros

Educational and calculating tools are available at no cost.

Huntington’s website features a wealth of mortgage-related resources, such as scholarly articles, calculators, and checklists, to help you prepare for the mortgage application process and select the most suitable loan.

Choice of several lending schemes and alternatives. Huntington National provides specialized loans and programs to assist with moving expenses and house down payments.

Independent monetarily; not in danger of losing money. The financial institution has been around for nearly 150 years and is now worth $118 billion.

Cons

Availability is quite restricted. The seven states that are part of Huntington National’s service area are the only ones where the bank offers loans.

There are no prices listed anywhere on the internet. The bank’s website features “Get a Quote Now” buttons on nearly all loan pages; however, these links lead to a contact form that will put you in touch with a loan officer.

Can you explain Huntington National Bank to me?

Huntington National Bank is a full-service regional bank with nearly 800 locations in seven states (Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania, and West Virginia). The Columbus, Ohio-based bank has served its customers for over 150 years.

Benefits strategy for the local community

Huntington declared its intention to invest $40 billion in the areas it serves in June of 2021. The Community Plan allocates $2 billion to small businesses, $12 billion to aid boost housing, and $2 billion for community enhancement and social equity, focusing on assisting underrepresented groups.

FAQ About mortgage refinance huntington bank

How can I get in touch with Huntington National Bank?

The mortgage help desk is open Monday through Friday from 8 am to 7 pm and Saturday from 8 am to 2 pm Eastern Standard Time. If you need to get in touch with a representative, you can do so in one of the following ways:

Contact them at 800-323-4695 if you’d rather talk on the phone.

Through the website’s robotic helper.

Please get in touch with internet.lending@huntington.com through email.

By contacting us by Facebook PM or tweeting questions to @askhuntington, we can use the power of social media to answer your questions.

Send a letter or email to Mortgage Customer Service, GW1N09 5555 Cleveland Ave, Columbus, OH 43231.

You can do it yourself by visiting a bank branch.
Can you tell me about the various loan options that Huntington National provides?

How to use huntington bank mortgage calculator?

Click on the link below for

huntington bank mortgage calculator

What are huntington bank auto refinance rates?

what is huntington bank mortgage rates today?

What is huntington bank mortgage rates ohio?

For more information huntington bank auto refinance rates, for mortgage rates today, and for mortgage rates ohia contact a Huntington Indirect Dealer Sales Representative or Commercial Portfolio Manager in your area.

Cincinnati / West Virginia 1-800-890-4508
Cleveland / Toledo / Eastern Ohio 1-800-824-1386
Columbus, Ohio 1-800-870-8304
Eastern Pennsylvania / New Jersey 1-888-336-0517
Indiana 1-800-225-6577
Kentucky / Tennessee 1-800-344-8357
Michigan 1-888-649-8217
Western Pennsylvania 1-800-824-1386
New England 1-888-336-0517
Minnesota / Wisconsin 1-888-901-1150
Texas 1-614-480-0671

What are Huntington Bank 30 year Mortgage Refinance rates and Huntington mortgage rate 15 year fixed?

If you can afford the higher payment each month, refinancing to 15 years instead of 30 will save you $98,526 in interest over the life of the loan.

huntington mortgage rate 15 year fixed is 4.792%

Shorter term(15 years ) Longer term

Total interest: $66,288 $164,813
Principal and interest $1,479 $1,013
Taxes & insurance $354 $354
HOA fees $0 $0
Private mortgage insurance (PMI) $0 $0
Total monthly payment $1,834 $1,368