SunTrust Lender Review | 2022
Abstract
Pros & cons of SunTrust SunTrust mortgage applicants have access to a variety of online resources and a team of mortgage experts to help them select the best loan. SunTrust offers several unique mortgage programs including a Doctor Loan Program for doctors and dentists and Premier Loans for high-income households seeking mortgages of up to $3 million. Approved loan applicants can then select from a variety of interest rates, points, and fees to find the loan structure best suited to their needs. SunTrust offers a variety of VA lending programs, including VA construction loans and VA manufactured housing loans Conventional Loans: A good option for buyers with good credit scores and low levels of personal debt FHA Loans: Popular with first-time, lower-income and/or lower-credit home buyers Jumbo Loans: Suited for buyers seeking to borrow more than the amount permitted for conventional loans Refinancing a home with SunTrust Refinancing can enable homeowners to lower their monthly payments, convert from an adjustable-rate to a fixed rate, or shorten the term of their loan. For VA homeowners, SunTrust offers a 100% VA cash-out loan - meaning you may be able to cash-out all your home equity, provided you qualify for the new loan. After a refinance loan application is approved, SunTrust will prepare closing documentation and coordinate a date and location for borrowers to close their loan. Key goals include: Originating tens of thousands of loans each year to enable families in low- and moderate-income communities to purchase or rehabilitate homes Financing more than 40,000 units of affordable housing for seniors Encouraging economic growth in low- and moderate-income communities through below-market-rate loans and equity investments to provide affordable housing and promote small business growth Should you use SunTrust? SunTrust's loan officers offer support to help applicants through all steps of the mortgage process.