SunTrust Mortgage Inc. is one of the best mortgage companies all over the world. It is the mortgage lending partition of SunTrust Banks Inc. SunTrust Bank is an American bank holding company that operates 1700 branches and offices throughout the southern United States. Due to its specialization in banking, lending, investing and insurance solutions, bank helps an individual to achieve cash and capital management effectively. It also helps in growth businesses and the attainment of financial security. SunTrust Bank is a $182.2 billion financial service company operating in Virginia, South Carolina, North Carolina, Florida, Tennessee, Georgia, Alabama, Maryland and the District of Columbia.
Screenshot of www.suntrust.com
The branches of SunTrust Mortgage are spread all over the USA. Presently, origination of loans by SunTrust Mortgage, Inc. is done through its locations in SunTrust Markets across the United States. It is a top residential mortgage service provider. It offers greater value of money than any mortgage provider that has reflected as a superior return for its shareholders.
SunTrust can be characterized by five corporate qualities:
- Maintaining a strong balance sheet,
- Emphasizing credit quality,
- Focusing on income and effective management of its costs,
- Delivering superior customer service and
- Maintaining a team of highly skilled and motivated professionals
SunTrust offers many types of Mortgage loans which include 30 year fixed rate mortgage (FRM), 15 year fixed mortgage loans, 30 year jumbo fixed mortgage and 15 year jumbo fixed mortgage loans and mortgage loans based on Adjusted Rate Mortgage (ARM) which can be on a 3/1, 5/1, 7/1 or 10/1 basis. Favorable Annual Percentage Rate (APR) and interest rates offered by SunTrust Mortgage for mortgage loans is up to 80% loan-to-value ratio (LTV) for single family, owner-occupied properties. In table form, it is as follows:
|
Interest Rate |
APR | |
|
30 year fixed |
6.0% |
6.151% |
|
15 year fixed |
5.625% |
5.783% |
|
30 year jumbo fixed |
6.125% |
6.278% |
|
15 year jumbo fixed |
5.75% |
5.886% |
|
3/1 ARM |
5.875% |
7.267% |
|
5/1 ARM |
5.875% |
7.041% |
|
7/1 ARM |
5.75% |
6.777% |
|
10/1 ARM |
6.125% |
6.752% |
Payment Services offered by SunTrust Mortgage:
Equity Accelerator Program: This Program provides a faster repayment of the loan. According to this program, one has to pay one-half of the monthly payment every two weeks thus equaling 13 payments a year. Also, one has to pay an extra mortgage payment at the end of the year which is added to the principal balance every year. Repayment of the loan by this method saves on the interest rate.
SunTrust’s Sure Pay (Electronic Payment Service): This can help an individual get these interest payments or any additional amounts paid continually towards the reduction of the principal balance of the loan automatically drafted from any checking or savings account designated which is the fastest and most convenient way for the repayment of the mortgage loan.
Monthly repayment of mortgage loan: This will include a payment towards the principal balance of the loan, a monthly interest payment and a collected payment for the hazard insurance, mortgage insurance, flood insurance and property taxes.
Online payment service:
It also offers online payment service for pre-qualifying and applying for a mortgage loan. For online payment, one can access his account online. Go to suntrust.com to sign up for Online Banking along with Bill Pay. At any time and from anywhere, you can pay bills, transfer funds, set up alerts and many more - on your schedule, with free online banking.
Sun trust takes strong measures to ensure that your information is secure and confidential. To verify identity of online users, you may be asked to provide the following information:
- SunTrust ATM/Visa Check Card Number & PIN
- SunTrust Account Number
- Your Social Security Number
For online payment services, you must have a personal SunTrust Checking, Savings, or Money Market account, SunTrust Consumer Credit Card, or ATM/Visa® Check Card. After signing up for Online Banking, you will receive an email from SunTrust with a Security Access Code. Follow the simple instructions given in the email, to complete the enrollment process or call sun trust. If Security Access Code is not received by you from SunTrust, continue with one of the enrollment methods listed below.
Just select one of the following options to sign up, and click "Begin Enrollment" to get started.
- Use a SunTrust Checking, Savings, or Money Market Account number
- Use a SunTrust ATM/Visa Check Card
- Use a SunTrust Credit Card
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