• FHA Fixed Rate
• VA Fixed Rate
• FHA ARM
• VA ARM
• ARM Alternative

FHA Fixed Rate

FHA (Federal Housing Administration)-insured mortgages are in high demand because of the many advantages they hold for homebuyers and refinancers, among them assumability, low down payments and liberal qualifying ratios. Also, FHA borrowers do not have to meet maximum income qualifications, as with many other government programs. Maximum loan amounts, however, are set by region across the country.

• 96.5% financing on certain transactions.
• Seller can contribute up to 6% of sales price to help with closing costs and prepaid items without affecting downpayment requirement.
• 100% gift down payment -- relative or employer.
• Up-front Mortgage insurance can be financed.
• No cash reserves required after closing. For loan amounts greater than $417,000, two months cash reserves are required.
• Seller can pay the interest portion (up to 6%) of the borrower's mortgage payment for a specified number of months in some states.
• Lenient qualifying ratios.
• Will consider compensating income factors (i.e. room mate income).
• Non-occupant co-borrowers may be eligible to help with qualifying (subject to conditions/restrictions).
• Assumable with qualifying.

Note: You may want to consider another product if:

— Your down payment is 20% or more (mortgage insurance is required regardless of
loan-to-value ratio).
— You need a higher loan amount than FHA allows.

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

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VA Fixed Rate

As a benefit to veterans, the Department of Veterans Affairs guarantees repayment of loans made to veterans with no down payment in most cases and liberal qualifying guidelines. This makes it easy for veterans to finance their homes.

• 100% financing.
• Seller can pay all typical and customary closing costs, discount points, with no limit.
• Seller can pay prepaids, funding fee and temporary buydown funds up to a maximum of 4%.
• No cash reserves required after closing. For loan amounts greater than $417,000, two months cash reserves are required.
• Single qualifying ratio.
• Liberal qualifying.
• We underwrite our own VA loans.*
• Assumable with qualifying.
• Primary residence only for purchases, investment properties permitted on Interest Rate Reduction Refinancing Loans (IRRRLs) and second homes are not permitted.

*SunTrust Advantage

Note: You may want to consider another product if:

— You are not a veteran.
— You have used your VA eligibility to purchase another home, which you still own.
— The property you are purchasing will not be your primary residence.

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FHA ARM

The FHA ARM combines the low initial interest rate of an adjustable rate mortgage with the low down payment and liberal qualifying ratios of FHA-insured mortgages to produce one of the most affordable loan products at SunTrust. It also offers exceptional interest rate protection with annual and lifetime interest rate caps that are lower than most ARM programs, as well as an extended period before the first rate change, depending on the closing date. It also offers a lower margin than other ARM programs, which helps to hold down rate changes.

• 5/1 ARMS qualify at note rate.
• Choosing a higher margin allows you to get a lower initial rate.
• First adjustment occurs 60 to 66 months after the first installment payment is due for five (5) year ARMs.
• Interest rate cannot increase more than 1% per year or more than 5% over the life of the loan.
• Assumable with qualifying.

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VA ARM

As a benefit to veterans, the Department of Veterans Affairs guarantees repayment of loans made to veterans with no down payment in most cases and liberal qualifying guidelines. This makes it easy for veterans to finance their homes.

• 100% financing.
• Seller can pay all typical and customary closing costs, discount points, with no limit.
• Seller can pay prepaids, funding fee and temporary buydown funds up to a maximum of 4%.
• No cash reserves required after closing. For loan amounts greater than $417,000, two months cash reserves are required.
• 5/1 ARMS qualify at the note rate.
• Single qualifying ratio.
• Liberal qualifying.
• We underwrite our own VA loans.*
• Assumable with qualifying.

*SunTrust Advantage

Note: You may want to consider another product if:

— You are not a veteran.
— You have used your VA eligibility to purchase another home, which you still own.
— The property you are purchasing will not be your primary residence.

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ARM Alternative

If only you could get the low initial interest rate of an Adjustable Rate Mortgage (ARM) but the payment security of a fixed rate loan. At SunTrust, you can!! Our ARM Alternative is a temporary buydown on a fixed rate loan. The ARM Alternative provides an option for borrowers who want the best of both worlds- that low initial rate and the interest rate protection of a fixed rate mortgage. ARM Alternative loans are available with either conventional fixed rate loans, FHA, or VA loans. Maximum loan amount is the conforming loan limit.

• Interest rate is known over life of loan.

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