SunTrust Bank is operated by SunTrust Banks, Inc. (NYSE: STI), an established bank holding company in the country. The lender provides home mortgages loans for borrowers, who are able to meet the its credit requirements. The Atlanta-based bank’s mortgage interest rates have been updated for March 13, 2017.
Bear in mind, that the the lender’s mortgage rates are subject to change without prior notice and may vary upon loan approval or actual disbursement of funds. With the exception of loans insured by the Federal Housing Administration (FHA) for borrowers with low credit scores, the interest rate quotes are given assuming the individual has strong financial standing. Additionally, lock-in periods apply for most mortgages and the loan terms may vary depending on the property’s location and geography.
Currently, the 30-year fixed rate home loan is listed at a rate of 4.400%. The mortgage loan’s annual percentage rate, which represents the interest, mortgage insurance and other costs of the mortgage at a yearly rate, is set at 4.5096%, whilst the package also carries 0.420 discount points. Turning attention to the 15-year fixed mortgage, it has an opening rate of 3.700%. This type of loan comes with 0.131 discount points and an APR figure of 3.8378%, according to the bank’s data.
Looking at additional home loan options, the FHA-backed 30-year fixed mortgage is quoted at a rate of 4.300%. According to SunTrust’s mortgage information, it comes with 0.013 discount points and an APR variable of 5.3838%.
Those, who are looking for additional home purchase loan options, may want to consider SunTrust’s jumbo loans. Presently, the 30-year fixed jumbo mortgage has a competitive interest rate in the form of 4.800%. The mortgage loan is coupled with 0.157 discount points and it carries an APR sum of 4.8550%
Mortgages, which have more interest rate flexibility, including adjustable rate mortgages (ARMs), are are also available at this bank. Looking at current adjustable rate loan solutions, SunTrust’s Agency 5/1 ARM plans are starting at a lending rate of 3.750%. The loan carries 0.073 discount points and it’s accompanied by an APR of 4.0689%. The Agency 7/1 version of the financial institution’s ARM can be secured at a rate of 3.625%. The loan package bears 0.161 discount points and an APR of 3.9781%.
For additional information on SunTrust’s mortgage interest rates, as well as details on borrowing terms and conditions, please check the financial institution’s website or contact a loan officer in charge.
Government-sponsored housing firm, Freddie Mac announced last week, that the average interest rate on the 30-year fixed mortgage escalated to 4.21% from the previous 4.10%. On the other hand, the interest rate on the shorter-term 15-year fixed loan climbed to 3.42% last week. A week earlier this type of mortgage loan was hovering at a rate of 3.32%, according to the Virginia-based housing giant.