SunTrust Bank (NYSE: STI) offers retail and commercial banking services. The lender's home loan rates stated below require a 60-day lock-in period on the loan whose proceeds are to be used for the purchase of single-family owner-occupied properties. Below you can find SunTrust's latest mortgage rates, which are valid for September 27, 2013.
Bear in mind, that these mortgage 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.
First, looking at the lender's fixed home mortgages, the 30-year FRM is advertised by SunTrust at a rate of 4.200%, with 0.164 discount points and an annual percentage rate (APR) of 4.3190%. The shorter-term 15-year fixed rate conventional home loan is advertised at 3.250%, and it comes with 0.106 discount points. The corresponding APR is set at 3.4457%.
Switching to FHA loans, the 30-year fixed rate FHA-backed loan option is quoted at 3.900%. This type of loan comes with 0.020 discount points and features an APR of 5.5198%.
The 30-year fixed home mortgage with a jumbo balance is offered by the lender at 4.600% interest and 0.052 discount points, yielding an APR of 4.7027%.
More flexible loans, including adjustable rate mortgages (ARMs), are are also available under this bank, as 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 on the books at a rate of 3.125% and 0.114 discount points and an overall APR of 3.0691%. The 7/1 adjustable rate loan options starts at 3.625% and 0.116 discount points, while the corresponding APR figure is 3.3422%.
For additional details on SunTrust's mortgage interest rates, please visit the lender's website.
