• 10-40 Year Fixed Rate
• 15 Year Fixed Rate
• ARM Alternative (Rate Buydown)

10-40 Year Fixed Rate

A fixed rate mortgage may be just what you are looking for if you like the idea of stability. Your interest rate will not change over the life of the loan which can make budgeting easier. Plus, SunTrust Mortgage offers you options to customize your fixed rate loan depending on your individual needs. You can choose a 20, 30 or even 40-year term for maximum tax benefits or a 15 year term if you prefer to pay your loan off sooner. Whatever your situation, SunTrust Mortgage can help you get the ideal mortgage loan for your lifestyle!

• Choose a loan repayment term from 10 to 40 years
• Opportunity to "buydown" initial monthly payments through our ARM Alternative program
• Available for primary residences along with second homes and even investment properties
• Option to make extra payments with our Bi-Weekly^SM Mortgage Payment Plan
• No penalty for prepaying your loan
• Stable, fixed payments make budgeting easier
• Low, competitive fixed rates help keep payments affordable

To see examples of monthly payment terms, view our APR Examples.

[Go To Top]

15 Year Fixed Rate

For those borrowers interested in a mortgage loan with a shorter repayment term, SunTrust Mortgage offers a 15-year fixed rate mortgage. By repaying your loan over a shorter period of time, you can save in interest over the life of your loan as compared to a typical 30-year loan. In addition, as a general rule of thumb, 15-year fixed rate mortgages have a lower interest rate as compared to longer terms, such as a 30-year mortgage loan..

• Interest rates are normally lower as compared to a 30-year mortgage (sometimes as much as
  1% lower)
• Helps build up equity in your home more quickly
• Allows you to pay off your mortgage in half the time without paying twice as much per month
  as a 30-year loan
  
  

[Go To Top]

ARM Alternative (Rate Buydown)

SunTrust Mortgage's Adjustable Rate Mortgage (ARM) Alternative is a temporary buydown of the interest rate on a fixed rate mortgage loan. The ARM Alternative provides a compelling option for borrowers who want the best of both worlds -- a low initial rate and the interest rate protection of a fixed rate mortgage.

• Available with either conventional fixed rate loans, FHA, or VA loans
• Maximum loan amount is the conforming loan limit
• Interest rate is known over the life of the loan; no guessing

[Go To Top]