SunTrust mortgage & refinance rates

SunTrust Banks is one of the leading lending institutions for home mortgages. With over $170 billion in assets, SunTrust is one of the top lenders in the United States. At SunTrust bank, consumers have plenty of options in choosing a mortgage that fits his or her particular situation.

Types of Mortgages at SunTrust

The “fixed rate” mortgage offers homeowners the comfort of making fixed payments. A “fixed rate” mortgage is a great choice for the homeowner who enjoys consistency in his or her payment schedule. Through SunTrust, a customer can choose a fixed rate mortgage that spans over 10 to 40 years in length. With a “fixed rate” mortgage, SunTrust also offers consumers the option to lower monthly payments through the “ARM” program. The “ARM” program allows one to pay off initial payments and as a result, lower resulting monthly payments. With the “fixed rate” mortgage, one will be able to choose from 15 year mortgage rates or 30 year mortgage rates.

The “adjustable rate” mortgage is another option that customers have. An adjustable rate mortgage will usually result in lower interest rates for consumers. Through SunTrust, adjustable rate mortgages have a fixed rate for a period of 3, 5, 7, and 10 years. Then, a consumer will pay off the rest of the mortgage at an adjustable rate for the 30 year period. This mortgage option is preferable for one who is able to pay off his or her home within a few months or years or purchasing it.

There are also other scenarios where one may take out a home mortgage. Sun Trust offers mortgages for home renovation and construction projects. In addition, those with a low income may qualify for the Affordable Home Buying Solutions offered by SunTrust.

Application Process

Applying for a SunTrust mortgage is a time consuming process, and it can requires hours of filling out paperwork. To make the process as seamless as possible, one may wish to apply for a mortgage online. If one wishes to refinance his or her home, then meeting with a SunTrust banker is the best idea. A SunTrust banker will be able to help with an Order title refinance.

SunTrust Mortgage Interest Rates

There are situations when consumers may be able to qualify for the lowest interest rates possible. By borrowing more money, one can enjoy substantial savings as far as interest rates are concerned. The Jumbo Solution Mortgage allows one to finance up to $3 million. Typical jumbo mortgages have high interest rates, except one will not face these interest rates through SunTrust.

Mortgage Payment Programs

SunTrust can work with consumers to afford a particular mortgage. There are a couple of government sponsored programs that SunTrust actively participates in, and these are the FHA & VA programs. FHA loans are some of the most flexible, and people with a low income level can qualify for FHA loans. The down payment required for an FHA loan may be made as a gift on behalf of a family member or friend.

VA loans do not require a down payment, and this is what makes them an attractive option for low income consumers. The qualifying terms for a VA loan are also very lenient. In addition to the FHA and VA programs, Sun Trust also participates in the Doctor Loan Program. This is a very unique program that allows doctors to take out home loans with low interest rates, as long as they are paying off student loans or attempting to open up a private practice.

Whether one wants to refinance or needs help with Order Title Rates, SunTrust bank can help with all of one’s home financing needs.