Current and Update Mortgage Rates at Sun Trust Bank

The most important factor to consider in purchasing a house is actually the mortgage rates. Many people will ask why the rates when there are so many other factors to consider in buying a house. Well, the answer is simple. Mortgage rates are very important especially since most people can only buy a home for their family through mortgage loans. This is a fact especially now that everything is in financial recession. There are a lot of people without homes and there are a lot of houses for sale and obviously the only way for people and families to acquire a house is through a loan from banks and other financial associations.

One of the banks that people can go to for mortgage rates and loans is Sun Trust Bank. They provide and cater to needs in terms of credit, trust, deposit, investments, and many more. People will definitely find what they want in this bank especially in terms of mortgage rates. For those who want to inquire and get a loan from them then they can just do it anytime but for the meantime, those who want to know more about the mortgage rates they have right now then this is the right article for you.

Their rates as of June 29, 2012 are quite competitive and thus it is a good chance for people who are interested of getting the loans to start now. For their 30 year fixed conventional loan, the interest rate is 3.990% with an annual percentage rate or APR of 4.0938%. While for the 15 year fixed conventional, the interest rate is 3.500% and the APR is 3.6814%. On the other hand, those who want the 30 year jumbo fixed will have an interest rate of 4.375% with an APR of 4.4719%. These are just some of the mortgage rates they have that interested individuals and families can get. So for those who are planning of getting mortgages should carefully inquire from Sun Trust Bank and when they want the rates then they can apply and wait whether they can get the approval or not.

SunTrust Offers Promising 3.99% Interest on a 30-Year Mortgage Rate

Still disappointed in how the mortgage rates look these days? Then you might not be looking in the right places. Awesome deals and great interest rates – this is what SunTrust Mortgage is all about.

About the Rates

Here are the interest rates they offer:

Term – Annual Percentage Rate
30-year Fixed Conventional – 4.0938%
15-year Fixed Conventional – 3.5925%
30-year Jumbo Fixed – 4.6094%
Agency 5/1 ARM 30-year – 3.1183%
Agency 7/1 ARM 30 year – 3.1561%
30-year FHA Fixed – 4.8130%

Depending on the features of your specific loan, these rates, as well as discount points may vary. Costs may apply which includes average loan fees, origination points, and even closing cost. Usually, deals can be locked within a 60-day period, provided that the process will go smoothly.

The national average for a 30-year fixed conventional mortgage rate is at 3.88%. What SunTrust Bank offers is slightly a bit higher than this, but it is significantly lesser than other lending institutions. CitiBank offers a high 4.375% mortgage rate, while US Bank gives an interest of 4.125%.

The conventional, adjustable, and Jumbo policies differ in so many ways. Specific computations for your intended loan depend on these differences which are disclosed to you when you ask for a one-on-one consultation from one of their friendly customer service personnel.

Application for a loan usually involves a lot of paperwork. At SunTrust Mortgage, this is not so. They have simplified the process for its customers, giving every bit of convenience that they can.

Payment options can either be done online, by mail, or in person. The monthly payments are inclusive of principle, interest, and escrow – all of which depends on the type of loan you’ve signed up for. Individualized computations for your loan can be given for free upon request.

About SunTrust Bank, Inc.

SunTrust Banks is among the leading financial groups in the United States, with a total asset of $172.6 billion. Although it is based in Atlanta, it is able to reach out to other states which incudes Florida, Maryland, Georgia, Tennessee, North and South Carolina, Virginia, and District of Colombia.

Aside form mortgages, it offer other services such as banking, insurance, brokerage, equipment leasing, as well as capital market services.

SunTrust Bank Offers High CD Rate

SunTrust Bank is offering a unique bundled CD to customers nationwide. To qualify for the 3% APY on both CDs you have to open a 26 month and 49 month CD and have the same amount of money in each account. The minimum deposit is $2,000 on each account.

You must also have a checking account through SunTrust bank, or open a new checking account. Its easy to open an account over the phone and then transfer funds through ACH transfer. There is an early withdrawal penalty on both accounts, 8 months interest on the 26 month CD and 12 months interest on the 49 month CD.

SunTrust Bank is rated 2 of 5 stars from Bankrate and is FDIC insured.

SunTrust Bank has many other CD options, visit their website here for more information and updated cd rates.