Last Updated: 04/18/2025
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SunTrust Bank Mortgage Refinance Review
Key Takeaways
- Only two mortgage programs offered. SunTrust Bank Mortgage Refinance refinances FHA VA conforming and conventional mortgages.
- Specializes in multi-family properties. Only offers mortgages for multi-family properties, but not for single-family homes or manufactured homes.
- Non-standard interest rates available. SunTrust Bank Mortgage Refinance only offers hybrid mortgages.
- Only primary residences considered. SunTrust Bank Mortgage Refinance does not refinance vacation or investment properties.
- Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
SunTrust Bank Mortgage Refinance Pros & Cons
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SunTrust Bank Mortgage Refinance FAQ
What is the maximum loan term for a mortgage refinance via Suntrust refinance?
How long does Suntrust refinance take to refinance?
Suntrust refinance does not provide details on the average time to close a refinance. However, it typically takes 30 to 45 days to complete a refinance. Of course, a lot depends on the market, the lender, and how long appraisals and inspections take.Does Suntrust refinance charge a mortgage origination fee?
What mortgage programs does Suntrust refinance offer?
- Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
- FHA: Mortgages insured by the FHA, which usually have less stringent eligibility requirements, but borrowers must pay a mortgage insurance premium. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
- VA: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses.
What property usage types does Suntrust refinance allow?
- Primary home
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