Sun Trust Mortgage is a division of Sun Trust Banks Inc., a major U.S. financial holdings company. With over 170 billion in assets, Sun Trust Bank offers a full range of banking and investment services, including mortgage lending and home equity loans.
Based in Atlanta, Ga., SunTrust has a strong physical presence in the southeastern U.S., with nearly 1,700 branch offices and 2,900 ATMs, but serves customers nationwide through online banking and lending. In mortgage lending, SunTrust maintains a network of branch offices throughout the country, and has relationships with mortgage brokers, community banks, credit unions and independent mortgage companies that make SunTrust mortgage products available to borrowers in 49 states and the District of Columbia.
SunTrust Mortgage Options
Sun Trust Mortgage offers a variety of mortgage programs to meet the needs of a broad range of borrowers. In addition to fixed-rate, adjustable rate (ARM) and jumbo mortgages, SunTrust offers FHA, VA and USDA loans, the last of these enabling low- to moderate-income borrowers purchase homes in rural areas and smaller communities with little or no down payment.
Special “construction to permanent/renovation” mortgage financing is available to buyers who are looking to build their own home or buy and fix up an older home, with a single loan covering all costs of the project, without the need for a second closing when the work is completed.
There is also a “doctor loan” program that enables medical doctors, residents, interns and fellows to obtain up to 100 percent financing to purchase a home without the need for mortgage insurance, available in southeastern states.
SunTrust mortgage rates are very competitive with the market. Current rates for a variety of loan types are updated on their web site daily.
Sun Trust Mortgage offers a full range of refinancing products that compare to their standard mortgages. Borrowers may seek to lower their interest rates, pay off their mortgage more quickly, or convert from one time of mortgage to another, such as from an ARM to a fixed-rate loan. Cash-out refinancing is available for borrowers with adequate equity in their homes.
SunTrust participates in the federal Home Affordable Refinance Program, which is designed to enable homeowners with little or negative equity (owing more than their property is worth) to refinance their mortgage, although certain restrictions apply.
If a homeowner has fallen on hard times, Sun Trust Mortgage loan modification programs to help bring the mortgage current again, including participation in the Making Home Affordable/Home Affordable Modification Program (HAMP).
Home Equity Loans/HELOCs
Sun Trust Mortgage offers both standard home equity loans and home equity lines of credit (HELOCs). The SunTrust home equity loan allows homeowners to borrow a single lump sum to be repaid over a set period of time at a fixed interest rate.
A SunTrust HELOC offers a variety of options. With a HELOC, homeowners may borrow against their home equity as needed. Borrowers may choose from three different repayment options, including revolving, interest-only or fixed rate/fixed term. A SunTrust Access 3 line of credit allows borrowers to reduce the interest rate on their HELOC by as much as 0.75 percentage points if they have an existing SunTrust bank account or mortgage, and opt for automatic payments.
SunTrust Mortgage Information
Sun Trust Mortgage services vary among different states and regions of the country. For mortgage service or information in your area, visit the Home Mortgages page on the SunTrust web site at suntrust.com/PersonalBanking/Loans/HomeMortgages and use the Loan Officer Finder.
You can contact Amerisave by phone, email, and mail.
Send correspondence to:
(800) SUN-TRUST (786-8787)
Post Office Box 4418
Atlanta, Georgia 30302
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