SunTrust Mortgage is the mortgage lending division of SunTrust Banks Inc., an American bank holding company with 1700 branches and offices throughout the southern United States. In its current form, SunTrust Banks Inc. is the result of the 1985 merger of the Trust Company of Georgia and Sun Banks Inc of Florida.
One of achievements of SunTrust Mortgage is that they helped underwrite the IPO of Coca Cola back in 1919 resulting to SunTrust Banks to hold 48 million shares of Coca Cola worth approximately $2 billion. SunTrust offers ten to forty year fixed rate mortgages with financing on up to 1035 of the property value.
They also offer a variety of ARM loans with cap on interest rate varying from year to year. SunTrust Mortgage also offers Jumbo loans, FHA, and VA mortgages, and special terms for loans on student condominiums. Florida foreclosures are up 70% over last year. Currently the state is behind only CA and Nevada in number of foreclosures. While many lenders have given lip service to the current loan crisis and the need for individual assistance, SunTrust is one of the few to actually make a commitment to refinance and write off some loan amount in order to keep Florida residents in their homes.
An in-depth review of SunTrust Mortgage and their holdings will be posted in the next couple of weeks.
Okay we’ve talked a lot about Refinancing your loan. But how to do it? What are your options? In this first part, we’re going to show you what options you have when it comes to a refinance move. Your home mortgage will go a long way yet. 
Continue reading Refinance Your Loan! Here are Some Ways – Part I
I’m hoping that the $275 bilion package to help protect people from home foreclosures will work. At least that’s what I took out of President Obama’s announcement last week.
Continue reading Low Mortgage Lenders : Hope In the Foreclosure Plan?
A couple I know recently purchased a home costing $400,000. They weighed their options and felt that the best way to finance this is with an adjustable rate mortgage (ARM).
ARMs have taken a lot of criticisms for the mortgage crisis. With these loans like these, borrowers pay out at a low initial rate for a fixed period of time. After that, mortgages will defer to higher rates. Critics say they lure borrowers into purchases that they can’t really afford.
Continue reading How to Refinance – Are Adjustable Rate Mortgages (ARM) Bad?
Our home mortgages remain both our biggest monthly bill and our greatest investment. With all the economic uncertainty, we still have very low interest rates between four and five percent for 15 year loans, and less than six percent for many 30 year loans. A question facing many families is: Should I refinance?
Continue reading QA1: Should I Refinance?
