Suntrust Bank Mortgage 2021 | US News

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Atlanta-based SunTrust Bank offers mortgages through branches in 12 states and the District of Columbia. Homeowner loans are available to first-time buyers and regular buyers, with refinance loans available to existing homeowners.

  • FHA, USDA, and VA loans are available.
  • Special conditions are offered to health professionals.
  • An online application is available.

  • Mortgages are not available in all states.
  • Interest rates and fees are not disclosed online.
  • Home equity loans and lines of credit are not available.

SunTrust Bank offers a number of mortgage options, including:

  • Conventional loans
  • FHA loans
  • USDA loans
  • VA loans
  • Jumbo loans
  • HomeReady and HomeFinancing possible
  • 5/1, 7/1 and 10/1 ARM
  • Cash-out refinancing

With the HomeReady program offered by Fannie Mae, borrowers with good credit and low to moderate incomes can qualify for home loans with as little as 3% down. Likewise, the HomePossible program through Freddie Mac has down payments as low as 3% with no credit score requirement.

SunTrust Bank does not offer:

  • Home equity loans
  • Home equity lines of credit

The SunTrust Bank Physician Loan Program offers up to 100% financing without monthly mortgage insurance payments for qualifying physicians.

A minimum FICO score of 620 is required to be eligible for a SunTrust mortgage. Additionally, applicants must live in one of these states:

  • Alabama
  • Arkansas
  • Delaware
  • District of Colombia
  • Florida
  • Georgia
  • Maryland
  • Mississippi
  • North Carolina
  • Caroline from the south
  • Tennessee
  • Virginia
  • West Virginia

SunTrust Bank seeks a debt-to-income ratio of no more than 43% for borrowers with a credit score of 620. The DTI ratio can increase up to 50 percent for borrowers with a higher credit score. The minimum down payment for loans is 3.5%, available with FHA loans.

SunTrust does not disclose its mortgage fees or interest rates on its website. Borrowers can begin the online application process to get a quote and estimate of fees for mortgages.

Mortgage calculator

Is the house of your dreams close at hand? The US News Mortgage Calculator will show you how much home you can afford.

SunTrust Bank has an A + rating with the Better Business Bureau and is BBB accredited. The BBB says its accreditation standards include “a commitment to make a good faith effort to resolve any consumer complaints.” BBB accredited companies pay a fee for the accreditation review and oversight to ensure continued compliance and support of BBB services to the public.

In 2017, the Consumer Financial Protection Bureau received 244 mortgage-related complaints for SunTrust. The most common complaints concerned:

  • Problem during the payment process.
  • Loan service, payments or escrow accounts.
  • Struggling to pay the mortgage.

SunTrust Bank responded to all but one of these complaints. Of the total, 199 were closed with explanation, 27 with non-monetary relief and 18 with cash relief.

SunTrust offers an online portal for borrowers to start applying for a mortgage. There is also a Spanish version.

  • People who live in a state where SunTrust Bank operates.
  • Existing homeowners looking for home improvement cash refinancing.
  • People who want to apply for a home loan online.

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