SunTrust Bank is a subsidiary of SunTrust Banks, Inc.
SunTrust Bank is a subsidiary of SunTrust Banks, Inc. (NYSE: STI), a major bank holding company in the United States. Among its various financial services and products, the company provides home loans for mortgage shoppers, who are looking to buy properties in the country. SunTrust’s mortgage rates have been updated for October 7, 2014.
Bear in mind, that the the lender’s mortgage rates are subject to change without prior notice and may vary upon loan approval or actual disbursement of funds. With the exception of loans 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. Furthermore, lock-in periods apply for most mortgages and the loan terms may vary depending on the property’s location and geography.
As far as standard conventional home loans are concerned, 30-year FRM is quoted at a rate of 3.99%, according to the latest data. The loan package comes with 0.789 discount points and bears 4.1605% by way of APR. Borrowers, who seek a shorter-term home purchase loan, may want to take a look at SunTrust’s 15-year fixed conventional mortgage, as it starts at a rate of 3.25%. On Tuesday, this type of mortgage loan features an APR of 3.4537% and 0.161 discount points.
Switching to FHA-insured home loan options, the 30-year fixed FHA loan has a lending rate of 3.7% and 0.389 discount points. The annual percentage rate on this mortgage loan is set at 5.3514%.
Those, who are looking for additional home purchase loan options, may want to consider SunTrust’s jumbo loans. Presently, the 30-year fixed jumbo mortgage has a competitive interest rate in the form of 4.25%. The mortgage loan is coupled with 0.145 discount points and it carries an APR sum of 4.3586%
More flexible loans, including adjustable rate mortgages (ARMs), are are also offered by the Atlanta-headquartered lender. Under the financial institution’s home mortgage program, the flexible 5/1 adjustable rate mortgage is published at a rate of 3.125% with 0.014 discount points and an annual percentage rate of 3.0611%. Moving on to the 7-year flexible ARM, it presently has a starting rate of 3.3% and 0.052 discount points. SunTrust’s loan package is accompanied by an APR figure of 3.1831%.
For additional information on SunTrust’s mortgage interest rates, as well as details on borrowing terms and conditions, please check the financial institution’s website or contact a loan officer in charge.
Government-sponsored mortgage-finance firm, Freddie Mac released the results of its weekly national survey last week, which showed that the average rate on the 30-year fixed mortgage dipped to 4.19% from the former 4.2%. On the other hand, the shorter-term, 15-year fixed mortgage loan averaged a rate of 3.36% last week, according to Freddie Mac.