Suntrust

One of the strongest and largest financial holding firms in the whole America, SunTrust Mortgage has been offering a wide selection of mortgage products for quite some time now. They make all their services and products accessible with the help of their subsidiaries that make all the service distribution to all leading business, institutional, and retail outlets. A mortgage banking service is even offered with the foundation of the SunTrust bank.

Now, interested in knowing the complimentary products of SunTrust? There are actually a variety of mortgage offers that the company has been providing these days to help people realize their home buying and remodeling projects. These loans are categorized according to the rates and terms covered, thus you will be assured to find the right loan easily by just knowing the basics of each of these mortgages. If you are serious with your mortgage search, consider the following offers:

Fixed Rate Mortgage – Stability is what matters to most of the borrowers. If you are one of them, then a fixed rate type of mortgage is definitely the right option you can take. SunTrust offers this option with coverage of ten to forty years. Its main advantage is that you can budget your money to cover your payments without much hassle knowing that you already know the principal and interest incurred. The payment rates will just stay the same from the start, but the borrowers are allowed by the company itself to personalize the rates of their loans in accordance to the borrowers’ needs.

The other benefits of a fixed rate SunTrust mortgage include the absence of repayment penalty and payment shock, 103% maximum financing rate, 5% down on second homes, 10% down on investment properties, automated underwriting, streamline purchase, and availability of refinance options and loans for people with bad credit scores.

Adjustable Rate Mortgage – The exact opposite of the fixed rate loan, this option is offered by SunTrust with the benefit of the so-called One Year LIBOR ARM. This is said to be perfect for homeowners who have been looking for a mortgage with a low initial interest rate. The good thing about this offer is that it comes with rate caps that work to shield the change of individual rates and the maximum rate levied over the life of the adjustable mortgage loan. When you apply for this offer, you can benefit from a sense of assumability, financing for second homes and other investment properties, as well as the ability to change your monthly payment for the better.

Jumbo Loans – Another considerable program, the Jumbo loans of SunTrust mortgage company are designed primarily for homeowners who need the level of security that the fixed rate mortgages offer, as well as those whose amount of loans has gone beyond the conforming limit of the SunTrust loans. This option is practical and attractive due to the fact that it comes with streamlined refinance alternatives, with no income, ratio and doc option; relocation features; and capability to finance condotels and cooperatives.

Special-Need-Based Mortgage – Designed for people with special needs, this loan alternative is offered by the company under the name SunTrust Combo. This is made available for clients who find the jumbo not a suitable option, but unlike the jumbo loan, this carries a higher level of interest rate that borrowers should pay for. The loan is processed and closed in a simultaneous manner, regardless of their being offered for individual service.

Community Choice Mortgage – These products are made with real solutions to help homeowners solve their problems. The loans included here are all designed and developed personally to suit every customer’s needs. The main advantages of taking this product include qualified flexibility guideline, lack of cash for closing purposes, availability for bad credit holders and low income families, as well as the availability of credit counseling service.

All of such products are offered by SunTrust today for every interested party to benefit from. They are valued for all of their benefits, and to serve thousands of people with such great options, SunTrust has opened more than a thousand of retail branches operating anywhere in America.