Suntrust is a large company that offers many kinds of financial products, including home loans. The range of loan products available is broad and includes fixed rate mortgages, adjustable rate mortgages, FHA loans, VA loans, jumbo loans, HARP refinance services: mortgage refinancing, cash-out refinancing, new home loans, and reverse mortgages, down payment loans for first time buyers, physicians loans, renovation and construction loans. Each has its own characteristics but they are all subject to evaluation in relation to your own financial situation.
Transparency and Accessibility of the Suntrust Mortgage
The Suntrust website is very well designed; thorough and still user friendly. All the factors that the company has anticipated are answered in the Resource section of their website. There are articles and tables as well as step by step calculators that will walk clients through the process of applying for the loan Quite surprisingly, they have a section called Costs that Surprise First Time Buyers. That section includes home inspection, appraisal, closing costs and escrow fees. Although the closing costs do sound steep by their assessment, there is great clarity and accessibility.
Website is Educationally Driven and Easy to Understand
Whether you end up choosing to do business with Suntrust or not, any newby home shopper should check out their website just to see what’s what with the process of loan application. Lots of the issues covered on the site are not even addressed on other sites and recognizing that alone is a valuable judgement tool. The breadth of loan opportunities means that if you are gainfully employed and have a good credit rating these folks will probably be able to set you up with a low down payment home loan. It is worth finding out what the chances are of them selling your mortgage to someone else after closing. In other words, do they pledge to service the loan through its term.