Like all other home equity lines of credit, SunTrust’s HELOC rates look like this: They charge a variable rate of interest that is tied to the prime rate. This is a major financial index that is published daily in The Wall Street Journal.
SunTrust home equity loans are similar to all other home equity loans that are offered by banks, credit unions and other financial institutions. They differ from home equity lines of credit, which charge variable interest rates and have both a draw period and a repayment period.
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SunTrust offers home equity lines of credit with an introductory interest rate as low as 2.99% for the first 12 months, after which time the interest rate can be as low as 4.25%. All interest rates on SunTrust home equity lines of credit are variable.
Borrowing more than $10,000? SunTrust provides Home Equity Lines of Credit at a lower rate for home improvements, debt consolidation, or a major purchase.
Suntrust is one of the largest banks in the country, and their home equity options make them a good lender if you are interested in a home equity line of credit. However, they do not offer home equity loans, which makes it hard to place them among the best lenders we reviewed. Rates and Fees. Suntrust’s interest rates are pegged to the prime rate, but they offer a promotional rate of 2.99% APR for 15 months, which is a much better deal than other lenders will offer for a comparable product.
In a shift from past practice, National City Corp. has informed home equity line of credit customers who are above their approved. (The overall chargeoff rate for the HELOC portfolio doubled from.
SunTrust offers a variety of products for personal and business banking and a home equity line of credit (HELOC). Based in Atlanta, SunTrust Bank was established in 1891 and is one of the largest.
Get an estimated payment and rate for a home equity line of credit. Use this calculator to estimate monthly home equity payments based on the amount you want, rate options, and other factors.
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All capitalized terms, if not defined herein, shall have the definition given in the SunTrust Equity Line Disclosure Information. SunTrust Bank currently offers promotional pricing in the form of a variable Special Rate for twelve (12) months on an advance taken of $25,000 or more under the Variable Rate option.