Huntington National Bank Mortgage Interest Rate and Cost Review

Is Huntington National Bank a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by Huntington National Bank with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratesimilar to average (-0.06%)
Loan Related Closing Costslower than average (-$634)
National Rate and Closing Cost Rating(4.0)
Websitehttps://www.huntington.com

On average, Huntington National Bank’s interest rates were similar to those of other lenders (-0.06%) for a comparable set of borrowers. Its average total loan related closing cost was lower than those of other lenders, with a difference of -$634. Overall, combining interest rates and closing costs we estimate that Huntington National Bank tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 4.0 out of 5.0 stars.

Huntington National Bank’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track Huntington National Bank was most active in:

  1. Cleveland, OH
  2. Columbus, OH
  3. Cincinnati, OH
  4. Chicago, IL
  5. Sterling Heights, MI

Furthermore, Huntington National Bank is our top ranked mortgage lender in terms of interest rate and closing costs in:

  1. Cleveland, OH, for FHA mortgages
  2. Columbus, OH, for FHA mortgages
  3. Cincinnati, OH, for FHA mortgages
  4. Canton, OH, for FHA, and Jumbo mortgages
  5. Toledo, OH, for FHA mortgages
  6. Boardman, OH, for FHA mortgages
  7. North Ridgeville, OH, for FHA mortgages
  8. Lansing, MI, for FHA mortgages
  9. Ann Arbor, MI, for FHA mortgages
  10. Morgantown, WV, for FHA mortgages
  11. Findlay, OH, for FHA, and VA mortgages
  12. Defiance, OH, for FHA mortgages
  13. Midland, MI, for FHA mortgages
  14. Mansfield, OH, for FHA mortgages
  15. Circleville, OH, for FHA, and Jumbo mortgages
  16. Traverse City, MI, for Jumbo mortgages
  17. Charleston, WV, for FHA mortgages
  18. Lima, OH, for Jumbo mortgages
  19. Steubenville, OH, for FHA mortgages
  20. Parkersburg, WV, for FHA mortgages

You can click through to check out Huntington National Bank’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

Huntington National Bank’s Rates by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Huntington National Bank originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases and refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

Purchase/Refinance:
New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.03%-0.24%-0.03%-0.01%+0.00%
Loan Related Closing Cost Difference-$494-$1601+$88-$102-$339
Cost Adjusted Rate Difference-0.11%-0.45%-0.03%-0.03%-0.03%
Star Rating(4.0)(5.0)(3.5)(3.5)(3.5)
Refinance MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.03%-0.03%-0.07%+0.00%+0.03%
Loan Related Closing Cost Difference-$490-$1093-$75+$0-$465
Cost Adjusted Rate Difference-0.10%-0.18%-0.08%+0.00%-0.02%
Star Rating(4.0)(4.5)(4.0)(3.5)(3.5)

As a summary, Huntington National Bank is cheap for Conforming and FHA purchase mortgages. It is similar to other lenders for Jumbo, USDA and VA purchase mortgages. For refinancing, Huntington National Bank is cheap for Conforming, FHA and Jumbo mortgage refinance. It is similar to other lenders for USDA and VA mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.

Other information about Huntington National Bank:

Registered name: Huntington National Bank
Registered city and state: COLUMBUS, OH, 43219-6010
Regulator: Consumer Financial Protection Bureau (CFPB)
Top holder: HUNTINGTON BANCSHARES INCORPORATED

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Huntington National Bank’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.