SunTrust Banks, Inc.
SunTrust Banks, Inc. (NYSE: STI) performs its banking operations through SunTrust Bank, which provides home purchase mortgages for qualified borrowers. The bank, which is headquarterd in Atlanta, updated its mortgage interest rate information for July 18, 2014, which can be found below.
Take note, that the mortgage interest rates are subject to change without prior notice and may vary upon loan approval or actual disbursement of funds. With the exception of mortgages insured by the Federal Housing Administration (FHA) for borrowers with low credit scores, the interest rate quotes are given assuming the individual has strong financial standing.
On Friday, the 30-year home purchase loan is listed by SunTrust at a rate 4.125%. This type of home loan is coupled with an annual percentage rate (APR) variable of 4.2404%. The loan package also features 0.127% discount points. The lender’s home loan program includes shorter-term mortgage loans as well, including the 15-year FRM. Currently, this conventional loan is advertised at a rate of 3.2%. As far as the corresponding APR is concerned it’s coming out at 0.11% and the package also has 3.396 discount points.
Looking at additional home loan options, the FHA-backed 30-year fixed mortgage is quoted at a rate of 3.75%. According to SunTrust’s mortgage information, it comes with 0.143 discount points and an APR variable of 5.379%.
Mortgage shoppers, who prefer non-conforming loans, may want to consider the lender’s 30-year fixed jumbo mortgage, as it has a competitive rate in the form of 4.4% on Friday. The mortgage loan is accompanied by 0.274 discount points and an APR figure of 4.5206%.
Home loans that come with more interest rate flexibility can also be found at this loan originator. Adjustable rate mortgages (ARMs) feature a fixed interest rate period for a specified number of years. After that, the interest rate is adjusted to reflect present market conditions.
Heading over to the ARM loan arena, SunTrust’s Agency 5/1 adjustable rate mortgage schemes are starting at at lending rate of 2.99% on Friday. This flexible home mortgage loan features 0.162 discount points and it comes with an APR of 2.9432%. Those opting for the Agency 7/1 version of the lender’s ARM package, can expect to pay 3.3% interest cost. The loan carries 0.224 discount points and an APR figure of 3.129% rounds out the deal.
Additional details on SunTrust’s current mortgage rates, as well as information on borrowing terms and conditions are available on the bank’s website.