We want you to know about our different kinds of mortgages

Whether you're interested in financing a new home purchase or refinancing your existing home, we believe the more you know, the better your decisions will be. To help you get started we've gathered information about our different types of mortgages, from affordable lending solutions to specialty programs.

Whenever you're ready to move forward with financing, we're here to offer assistance and make the process as easy as possible. And, with all our mortgage options, payments may be automatically deducted from your SunTrust deposit account and there are no penalties for prepaying your loan.

Fixed Rate Mortgages
Want the security of knowing your payment will not increase over time? With a fixed-rate mortgage, you'll always know what your monthly payment will be.

• Choose a loan repayment term from 10 to 40 years
• Opportunity to "buy down" initial monthly payments through our ARM Alternative program
• Option to make bi-weekly payments to pay off your mortgage sooner

Why this mortgage option might be right for you:

• Stable, fixed payments make budgeting easier
• Low, competitive fixed rates help keep payments affordable

APR Examples>>

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Adjustable Rate Mortgages
Are you planning to stay in your home for just a few years before moving? If so, an adjustable rate mortgage (ARM) may be worth considering.

• Initial rates are usually lower than fixed-rate mortgages
• ARMs have an initial fixed rate for 3, 5, 7, or 10 years, then are paid off at an annually adjusted rate during the remainder of the 30-year term¹
• Opportunity to "buy down" your monthly payment by prepaying on rate adjustment dates

Why this mortgage option might be right for you:

• Save money with an ARM's lower rate if you plan to sell your home before the first adjustment date
• A good choice if you think interest rates will decline during the term of your mortgage

APR Examples>>

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Construction-to-Permanent/Renovation Financing
Planning to build a home or make major renovations to an existing one? This financing option helps you fund the construction phase and then it switches to a permanent mortgage without requiring another closing.

• Pay only interest on funds provided during the construction phase
• Choose a fixed-rate permanent mortgage or an adjustable rate mortgage (ARM¹).
• Lot purchase may also be financed
• Available in AL, AR, DC, DE, FL, GA, MD, MS, NC, PA, SC, TN, VA and WV.

Why this mortgage option might be right for you:

• Save time and money with a single closing for both construction and permanent loans
• Gain peace of mind with rate lock choices that include a "float-down" option

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Affordable Home Buying Solutions
Are financial limitations all that stand between you and a home of your own? We offer affordable programs that make it easier for families in low-to-moderate income areas to buy a home.

• Gift money available to help with down payments and closing costs
• 100% financing² available to qualified low- to moderate-income borrowers in rural areas
• Buyers may qualify for a fixed-rate, 3% down-payment loan with cash from any source
• Typically available for primary residences only (second or vacation homes excluded)

Why this mortgage option might be right for you:

• Stable, fixed payments make budgeting easier
• You may qualify even with low or no savings and less-than-perfect credit

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Jumbo Financing
Looking for a larger mortgage without a large interest rate? Along with standard jumbo loans, we offer a Jumbo Solution Mortgage that can help you finance up to $3 million.

• Maximize your borrowing power by combining a conventional fixed-rate first mortgage and a Jumbo Solution second mortgage, to finance 80%³ of a primary residence
• Conventional jumbo mortgages available with a fixed or variable interest rate
• Jumbo Solution Mortgage available only as a fixed-rate, fixed-term loan
• Interest-only option available⁴
• Available for purchases and rate/term refinances on primary residences, second/vacation homes, and investment properties, or for cash-out refinances on primary residences

Why this mortgage option might be right for you:

• Finance an expensive home with lower monthly payments than most conventional jumbo loans offer
• Avoid the higher interest rate usually associated with jumbo mortgages

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FHA & VA Programs
These government-sponsored programs are designed to help more families become homeowners. An FHA (Federal Housing Administration) mortgage is ideal for many first-time home buyers, while U.S. military veterans can benefit from the borrower-friendly terms of a VA (Veteran's Affairs) mortgage.

FHA Loans:

• Up to 96.5% financing on some loans; down payment may be a gift from a family member or employer
• Allows seller to pay up to 6% of sale price to help cover loan costs, and/or up to 6% of the mortgage payment for a specified number of months as part of purchase agreement
• Lenient income, debt, and credit qualifications
• Choose a fixed rate loan, or an ARM¹ that adjusts after 5 years and offers protection from large interest-rate increases
• Mortgage insurance may be financed upfront

VA Loans:

• 100% financing means no down payment needed
• Allows seller to pay most loan costs as part of purchase agreement
• Lenient qualifying terms
• Choose a fixed or a variable interest rate
• May be used to buy a primary residence, or an investment property in certain cases

Why this mortgage option might be right for you:

• Little or no cash needed, due to relaxed guidelines for down payments and loan costs
• Qualifying is easier with more generous debt-to-income ratios than many conventional loan programs

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Doctor (Home) Loan Program
This innovative program helps licensed medical physicians, doctors of osteopathy (DOs), and medical residents, Interns, and fellows obtain home loans.

• Up to 100% financing² available for a home purchase
• Loan amounts up to $650,000 for licensed physicians who have completed their residency within the last 10 years; or up to $417,000 for residents, interns, and fellows
• Up to 89.99% financing³ available for rate/term or cash-out refinancing
• Choose a competitive fixed or variable interest rate
• No mortgage insurance required
• Interest-only option available⁴
• Available in AL, AK, FL, GA, MD, MS, NC, SC, TN, VA, WV, and DC

Why this mortgage option might be right for you:

• Low cash requirement during the time you may be paying off education loans or establishing your practice
• Waived mortgage insurance means lower monthly payments

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¹The interest rate on Adjustable Rate Mortgages (ARMs) may increase after the initial fixed-rate period.

²100% mortgage financing means you will have no home equity until the loan principal is paid down through regular mortgage payments and/or the property value appreciates. If property values decline, you could owe more than your home is worth.

³A larger down payment may be required if the property is located in a declining market and/or is a warrantable condominium.

⁴Monthly payments of interest only will not reduce the principal owed.