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FHA Mortgage Rates and Home Loans Today: SunTrust Mortgage Interest Rates for October 2


By Elizabeth Atkins | 3 October 2013

FHA Mortgage Rates and Home Loans Today: SunTrust Mortgage Interest Rates for October 2SunTrust Bank is run by SunTrust Banks, Inc. (NYSE: STI), a large bank holding company in the United States. The bank offers home purchase loans for borrowers looking to buy houses in the country. The lender’s mortgage interest rates a have been updated for October 2, 2013.

Please, bear in mind that these interest rates are subject to change without prior notice and may vary upon loan approval or actual disbursement of funds. The 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 insured by the Federal Housing Authority (FHA) for borrowers with low credit scores, the quotes are given assuming the borrower has strong financial standing.

As of Wednesday, the 30-year fixed rate home purchase loan is offered by SunTrust at 4.125% interest with 0.012 discount points and an annual percentage rate (APR) of 4.2705%. In case of the shorter-term,15-year fixed rate home purchase loan, it’s quoted at a rate of 3.200%. The deal comes with 0.339 discount points and has an overall APR of 3.4294%.

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The 30-year fixed rate FHA-backed mortgage is quoted at 3.900%. This type of loan comes with 0.025 discount points and features an APR of 5.5202%. The 30-year fixed rate home purchase loan with a jumbo balance is offered by the lender at 4.490% interest and 0.212 discount points, yielding an APR of 4.6059%.

ARM loan solutions are also available under this bank and these 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.

The 5/1 ARM home purchase loan is advertised at a mortgage rate of 3.100% and 0.020 discount points and an overall APR of 3.0528%. The 7/1 ARM alternative can be availed at an interest rate of 3.600% and 0.042 discount points, for an effective APR of 3.3242%.

For additional details on SunTrust’s fixed and adjustable rate mortgages, as well as information on borrowing terms and conditions, please head over to the lender’s websites or contact a loan officer in charge.

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