SunTrust Banks, Inc.
SunTrust Banks, Inc. (NYSE: STI) performs its banking operations through SunTrust Bank, which provides home purchase loans for borrowers, who meet the lender’s credit requirements. Bear in mind, that the lender’s mortgage interest rates are subject to change without prior notice and may vary upon loan approval or actual disbursement of funds. The annual percentage rate (APR) calculations were made using closing costs and discount points, assuming that the borrower will pay 1.00% of the total loan amount in origination fees. With the exception of loans backed by the Federal Housing Administration (FHA) for customers with low credit scores, the rate quotes are given assuming the borrower has strong financial standing.
SunTrust’s updated mortgage information for Friday, June 20 revealed, that the standard 30-year fixed home loan is now listed at a rate of 4.125%. This type of mortgage loan comes wtih 0.492 discount points and a corresponding annual percentage rate of 4.2714%. Those looking to obtain the 15-year FRM, can expect to pay 3.2% in interest. The home loan is coupled with 0.106 discount points and an APR figure of 3.3954%.
The bank’s mortgage loan program includes non-conventional mortgage packages as well. Currently, the 30-year fixed rate FHA home loan is published at a rate of 3.75%. This type of loan comes with 0.115 discount points and an APR figure of 5.3763%.
Mortgage loans, which carry amounts that exceed conforming loan limits, are also offered by the financial institution. Now, the 30-year fixed rate home mortgage with a jumbo balance is listed at a rate of 4.7%, it carries 0.067 discount points and an APR of 4.8047%.
Loan packages, which have more interest rate flexibility, including adjustable rate mortgages (ARMs), are are also available at this lender. These loans feature a fixed interest rate period for a specified number of years. After that, the interest rate is adjusted to reflect current interest rates during the reset schedule.
On Friday, the Agency 5/1 ARM stands at a rate of 2.99%. Borrowers, who are interested in this type of home loan, will encounter an APR variable of 2.9492% and 0.238 discount points. Other mortgage shoppers, who lean toward the Agency 7/1 adjustable rate mortgage, will see it being advertised at a rate of 3.375%. The loan package carries 0.08 discount points, whilst the APR is set at 3.1527%, the bank’s updated mortgage information revealed.
For further details on the Atlanta-heaquartered lender’s mortgage interest rates, as well as information on borrowing terms and conditions, please take a look at SunTrust’s website or contact a loan officer in charge.