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  SunTrust Bank Home Equity Loans

SunTrust Bank Home Equity Loans

in Home Equity Loans from SunTrust Bank · NMLS ID #93471

Unaffiliated

SunTrust Bank Home Equity Loans

Unaffiliated

in Home Equity Loans from SunTrust Bank · NMLS ID #93471

Net Recommendation Score +33%

SUPERMONEY NET RECOMMENDATION SCORE

+33%

Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

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2 users recommend
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1 user doesn't recommend
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Highlights
Community Rating

Rating not yet determined  

Loan Amount $10,000 - $500,000
APR  (Fixed APR) 3.25% - 18%
Loan Term (Years) 5 - 30 years

SunTrust Bank Home Equity Loans Review

SunTrust Bank Home Equity Loans is offered by SunTrust Bank (NMLS #93471), a bank founded in 1865 and based in Atlanta, GA. SunTrust Bank Home Equity Loans is available in 11 states (and Washington, DC).

SunTrust Bank Home Equity Loans FAQ

How much can you borrow with a SunTrust Bank Home Equity Loans home equity loan?

A home equity loan allows homeowners to borrow money using their home as collateral (similar to a mortgage). Loan amounts vary depending on the value of the home minus the balance of any mortgages or liens on the property.

SunTrust Bank Home Equity Loans allows borrowers to apply for home equity loans of up to $500,000. The actual maximum loan amount will vary depending on the value of the property, how much you owe on it, and your creditworthiness.

What are the home equity loan requirements of SunTrust Bank Home Equity Loans

This lender's maximum loan to value rate is 70%. That means the total debt secured by the property cannot exceed 70% of its value. Let's say you own a property with a current market value of $100k, but you still owe $20k on your mortgage. Your equity would be $80k. In this scenario, if you have good credit, you may qualify for a line of credit of up to $50k.

What are the terms for a home equity loan via SunTrust Bank Home Equity Loans?

SunTrust Bank Home Equity Loans offers home equity loans with terms 10 years and a repayment period of 20 years.

What home equity loan rates does SunTrust Bank Home Equity Loans offer?

SunTrust Bank Home Equity Loans offers home equity loans with a fixed APR that ranges from 3.25% up to 18%.

Remember the APRs of home equity loans do not include points and financing charges, just the interest rate.

What is the estimated funding time for a home loan via SunTrust Bank Home Equity Loans?

SunTrust Bank Home Equity Loans will typically fund home equity loans within 3 and 7 days of approval.

What fees does SunTrust Bank Home Equity Loans charge for a home equity loan?

SunTrust Bank Home Equity Loans may charge a loan origination fee

What types of property can you use as security for a home equity loan with SunTrust Bank Home Equity Loans?

Lenders often have restrictions on the type of properties they will accept as security for a home equity loan. SunTrust Bank Home Equity Loans will consider loans secured by the following property types:

  • Primary home.

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Availability

  Available in 11 states and Washington, D.C.
  • Alabama
  • Arkansas
  • Washington, DC
  • Florida
  • Georgia
  • Maryland
  • Mississippi
  • North Carolina
  • South Carolina
  • Tennessee
  • Virginia
  • West Virginia

Feature Breakdown

No Prepayment Fee  
Credit Score Range 660 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Intended Use Primary Home
Joint Loan Applications Accepted Co-borrower
Maximum LTV 70%
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Cash
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
  • Tax Returns
Verification Documents Required
  • Proof of Income
  • Proof of Identity
  • Proof of Residence
  • Government Issued Photo ID
  • Social Security Number
  • Driver License (or other photo ID)
Draw Period 10 years
Funding Time Range 3 - 7 days
Joint Loans Available  
Repayment Period 20 years
APR (Fixed APR) 3.25% - 18%
Loan Amount $10,000 - $500,000
Loan Term 5 - 30 years
Terms 5, 10, 15, 20 and 30 years

SunTrust Bank Home Equity Loans Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

+33%

Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

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