Home Equity Lines of Credit

CURRENT PRIME RATE IS 4.75% AS OF OCTOBER 31, 2019. DEPENDING ON CUSTOMER'S QUALIFICATIONS, VARIABLE APRS RANGE FOR LINE AMOUNTS AS STATED ABOVE. CUSTOMER'S SPECIFIC RATE IS SUBJECT TO APPLICATION, APPROVAL AND ACCEPTABLE PROPERTY APPRAISAL AND TITLE SEARCH; LOAN-TO-VALUE(LTV) RATIO; CREDIT HISTORY; LINE AMOUNT; LIEN POSITION; WHETHER OR NOT PROPERTY IS OWNER-OCCUPIED; RATE REGION GENERALLY BASED ON PROPERTY STATE; AND MEETING CERTAIN UNDERWRITING CRITERIA. THE APR IS VARIABLE AND CAN CHANGE EACH MONTH, BUT WILL NEVER BE HIGHER THAN 18.00%. A DISCOUNT FOR TAKING A MINIMUM DRAW AT LOAN CLOSING MAY BE AVAILABLE; THIS DRAW EXCLUDES ANY FUNDS USED TO PAY EXISTING HUNTINGTON DEBT. LOWEST RATE AVAILABLE IS FOR WELL QUALIFIED BORROWERS WHO ARE APPROVED FOR A NEW LINE AMOUNT OF $75,000 OR GREATER AND ALSO TAKE A LINE ADVANCE OF $25,000 OR MORE; A LOAN-TO-VALUE RATIO OF 80%; ASSUMES PROPERTY IS OWNER-OCCUPIED; FIRST LIEN POSITION; A CREDIT SCORE OF 740 OR HIGHER; AND, RATE REGION GENERALLY BASED ON PROPERTY STATE. BORROWER-PAID TITLE INSURANCE IS REQUIRED ON LINE AMOUNTS GREATER THAN $750,000. OFFER SUBJECT TO CHANGE WITHOUT NOTICE.

^† YOU HAVE THE OPTION TO CONVERT YOUR VARIABLE RATE LINE TO A FIXED RATE; HOWEVER, THE FIXED RATE WILL ALWAYS BE HIGHER. A $75 FEE WILL BE CHARGED FOR EACH TRANSACTION CONVERTING AN AMOUNT FROM A VARIABLE RATE TO A FIXED RATE IN OH, MI, KY AND PA.

THE HOME EQUITY CREDIT LINE HAS A $60 ANNUAL FEE. THE INITIAL FEE WILL BE CHARGED ON YOUR FIRST BILLING STATEMENT AND THEN ANNUALLY, THEREAFTER.

THE APR IS BASED ON PRIME PLUS OR MINUS A MARGIN. THE MARGIN IS BASED ON YOUR HOME'S LOAN-TO-VALUE RATIO, LIEN POSITION, OWNER OCCUPANCY STATUS, APPLICANT'S CREDIT HISTORY, AND THE AMOUNT OF THE CREDIT LINE. "PRIME" MEANS BANK PRIME LOAN RATE PUBLISHED BY THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM IN ITS STATISTICAL RELEASE H.15(519) ENTITLED "SELECTED INTEREST RATES." USE OF THE WORD "PRIME" DOES NOT MEAN THAT THE RATE IS THE BEST OR LOWEST RATE OFFERED BY ANY LENDER. INSURANCE MUST BE CARRIED ON THE REAL PROPERTY SECURING THE ACCOUNT, AND FLOOD INSURANCE IS REQUIRED ON BUILDINGS LOCATED IN A SPECIAL FLOOD HAZARD AREA. THE AMOUNT OF SAVINGS REALIZED WITH DEBT CONSOLIDATION VARIES BY LOAN. SINCE A HOME EQUITY LINE MAY HAVE A LONGER TERM THAN SOME OF THE BILLS BEING CONSOLIDATED, THERE MAY NOT BE A SAVINGS OVER THE ENTIRE TIME OF THE LINE IF YOU MAKE ONLY THE MINIMUM PAYMENTS. MINIMUM PAYMENT REQUIREMENT IS INTEREST ONLY FOR THE FIRST 10 YEARS, FOLLOWED BY A 20-YEAR PAYMENT PERIOD. MAKING ONLY THE MINIMUM PAYMENT DURING THE FIRST 10 YEARS WILL NOT REDUCE THE PRINCIPAL BALANCE ON THE ACCOUNT. INSURANCE MUST BE CARRIED ON THE REAL PROPERTY. FEDERALLY GUARANTEED STUDENT LOANS AND OTHER LOANS WITH SPECIAL GOVERNMENT BENEFITS SHOULD NOT BE CONSOLIDATED BECAUSE YOU MAY LOSE THE BENEFITS. ADVERTISED RATES ARE SUBJECT TO CHANGE AT ANY TIME AND DOES NOT APPLY TO REFINANCING OF EXISTING HUNTINGTON ACCOUNTS. CREDIT SUBJECT TO APPLICATION, CREDIT APPROVAL, ACCEPTABLE APPRAISAL AND TITLE SEARCH. CONSULT YOUR TAX ADVISOR REGARDING THE DEDUCTIBILITY INTEREST.

¹There is a Draw Period for 10 years after the account is opened during which advances and purchases may be made, and during which reductions to principal are not required (unless credit limit has been exceeded), followed by a 20-year Repayment Period during which the minimum monthly payments amortize the outstanding balance on the line at the end of the Draw Period.

Borrower-paid title insurance may be required on loan amounts greater than $750,000. Mail-away Fees, which also include a notary fee, range from $125 to $300 and will apply when closing is facilitated by a third party on Huntington’s behalf. In this instance, a $25 courier fee will also apply. Customers using a condominium as collateral may be charged a fee by their condo association to complete a questionnaire if required by the appraisal company. See a banker for more information about current rates and terms.

All lending products are subject to application and credit approval. Home equity loans and lines also subject to acceptable appraisal and title search.