Huntington National Bank - Home Mortgage

Huntington National Bank

225 State Highway M-88 South
Bellaire, MI 49615-9406
Phone: 231 533-6103

Mortgages
Competitive rates and great personal service. Whether you are buying a new home or refinancing, we offer a variety of mortgage banking products plus online planners and tools to help you get answers to your mortgage and home buying questions.

Mortgage Loan Programs

* Conventional Fixed Rate
* Conventional 30-Year Fixed Rate
* Conventional 15-Year Fixed Rate
* Conventional Balloons
* Jumbo Loans
* Adjustable Rate Mortgages (ARM)
* FHA/VA/USDA Loans
* Construction/ Permanent Loans
* HeadStart Program
* Refinance Transactions
* Alternative Financing

Conventional Fixed Rate

Huntington Mortgage Group offers a wide range of fixed rate mortgage products at competitive rates. We can help you choose the loan that best suits your needs and show you how much your payments will be.

Conventional 30-Year Fixed Rate

A 30-year fixed rate mortgage loan provides you with the security of a monthly principal and interest payment that never increases because the interest rate never changes during the term of the loan. The only change could be an increase or decrease in the amounts the lender collects for mortgage insurance, real estate taxes, or property insurance (escrow payments).

Conventional 15-Year Fixed Rate

A 15-year fixed rate mortgage reduces the amount of interest paid over the life of the loan by accelerating the principal reduction. You can see for yourself which term is better for you, just look at the Fixed Rate Mortgage Loan Comparison matrix.

Conventional Balloons

If you plan to live in your home for three to seven years and want the benefits of a fixed monthly payment, the Balloon Loan may be a good option. Balloon loans are fixed-rate mortgages based on a 30-year amortization; with a conditional right to modify and extend at the end of the balloon term (most commonly 5 or 7 year balloon terms).

The interest rates are lower than long term fixed programs and are very advantageous for borrowers who are likely to move within the balloon term. The lower mortgage rates and payments maximize purchasing power. Equity builds slower than with shorter amortization products and balloons usually require a larger down payment. You will not be eligible for conditional refinance if rates rise by more than 5% above noterate.

Jumbo Loans

Jumbo loan programs start at $417,000 and offer financing on amounts exceeding the "conforming" loan limits. Huntington offers a variety of competitive fixed rate and adjustable rate jumbo mortgage programs as well as jumbo construction/permanent loans. For more information, contact your Huntington mortgage specialist .

Adjustable Rate Mortgages (ARM)

Want the advantage of a low interest rate? If so, an Adjustable Rate Mortgage may be the right choice for you. With an ARM, the interest rate changes at predetermined intervals based upon an index, which reflects the money market rate. The change in interest rate will also change how much your adjustable rate payments will be.

The advantages of an ARM include:

* Initially, the loan rate is normally lower than fixed rates.
* If your interest rate increases, you can grow into your higher mortgage
payment as your career advances and your salary rises
* ARMs could be less expensive over a long period than a fixed rate mortgage.
* If interest rates remain steady, you will continue to benefit from the lower
initial rate and if rates drop, your monthly payments will decrease without
refinancing.

To minimize interest rate increases, ARM loans offer the protection of Annual and Lifetime Caps

FHA/VA/USDA Loans

The Federal Housing Authority (FHA) and the Veterans Administration (VA) offer a wide range of mortgage loan options, including fixed-rate mortgages and ARMs. Insured or guaranteed by these government agencies, the loans feature low or no down payment terms and may be assumable by future purchasers. VA loans are restricted to individuals qualified by military service or other entitlements, but FHA-insured loans are open to all qualified home purchasers. There are limits to the size of FHA/VA loans, but they're generous enough to handle moderately priced homes anywhere in the country.

Construction/ Permanent Loans

Huntington keeps financing simple by offering a one-time closing, combined construction and permanent loan. We approve your permanent loan at the same time we approve your construction loan, so there's only one set of closing costs, saving you time and money.

HeadStart Program

Huntington's loan pre-approval program, allows you to be credit and income approved (with no appraisal) so that you have the comfort of knowing that you are approved for a certain loan amount. Upon pre-approval, a pre-approval certificate, which is contingent upon a satisfactory appraisal, executed purchase agreement, and clear title will be mailed to you. Once you decide on a property and an offer is accepted, you fax a copy of the purchase agreement and application fee ( if applicable ) to Huntington Mortgage Group, who then orders the appraisal. You lock into an interest rate once the sales contract is fully executed.

The HeadStart program enables you to shop for a home in the right price range and provides you with the comfort of knowing that you are pre-approved. The pre-approval provides great bargaining power with sellers, since you're now considered a "cash" buyer!

Refinancing

Obtain additional cash out of your primary home or take advantage of mortgage rate reduction. Loan-to-value ratios vary.

Alternative Financing

For customers with unique needs, such as self employment or credit that is less than perfect, we offer a variety of mortgage options and banking services, along with personal service from a knowledgeable team.

The Huntington National Bank is an Equal Housing Lender and Member FDIC. Â®, HuntingtonÂ® and A bank invested in people.Â® are federally registered service marks of Huntington Bancshares Incorporated. Â© 2010 Huntington Bancshares Incorporated.