Borrowing more than $10,000? SunTrust provides Home Equity Lines of Credit at a lower rate for home improvements, debt consolidation, or a major purchase.
You’re invited to apply for a Home Equity Line of Credit, which allows you to use the equity in your home as a smart borrowing tool.. Apply Now. Features and Benefits: Variable rates start as low as Prime + 0%, currently 5.00% APR 1 Lower rates than most credit cards, personal loans, and competitors.
· SunTrust Customer Service. You can contact SunTrust customer service by phone, email or ordinary mail. The phone number to talk to a bank representative is 1-800-634-7928, which remains the same when you need to use the Relay System.The mortgage mailing address for making general enquiries is as follows.
instant mortgage pre approval online Online Rates & Good Faith Estimates. Apply and Lock Online. – AimLoan.com cannot evaluate your application until you complete all of the required information and click the Submit Application button at the end of our online application. We will provide you with an application confirmation code that will be used to access your application if you do not finish your application today.
How SunTrust Home Equity loans work. suntrust home equity loans are similar to all other home equity loans that are offered by banks, credit unions and other financial institutions. They differ from home equity lines of credit, which charge variable interest rates and have both a draw period and a repayment period.
what is home equity home equity: The current market value of a home minus the outstanding mortgage balance. home equity is essentially the amount of ownership that has been built up by the holder of the mortgage through payments and appreciation. Typically, residential property is bought through a mortgage, which is then paid off over a number of years, often 15.
Home Equity Loan Application & Loan Guidelines. Some Texas laws regarding home equity loan procurement include: restrictions on mortgage debt: Borrowers can’t owe more than 80 percent of the market value of their home on their mortgage and home equity loans combined. That means if you already have a $40,000 mortgage against a home worth $80,000.
Loans Owned by SunTrust: If your loan is directly owned by SunTrust, then you may qualify for one of our proprietary loan modification programs. Government programs such as home affordable modification Program (HAMP ) are not available for SunTrust owned loans. Loans Owned by Private Investors:
what is a new construction loan How constructions loans work. A construction loan allows you to build your own home rather than purchasing an existing home. The plus side is that you can design your new house to fit your exact needs on a piece of land you chose on your own.
Loan-to-value ratio The loan-to-value ratio is the percent of your home’s appraised value that your lender will allow. For example, an 80% loan-to-value ratio would allow you to have $80,000 in debt secured by a home appraised at $100,000. Remember – the total debt allowed includes all outstanding mortgages plus your new line of credit.
Wanting more living space was No. 1 at 66 percent, and the opportunity to build equity, was second at 36. that their furry family members are driving home-buying decisions,” said Dorinda Smith,