Home Improvement Loans | SunTrust Loans

Important Information About These Products

Subject to credit approval, eligibility and credit qualifications.

You can fund your loan today if today is a banking business day, your application is approved, and you complete the following steps by 2:30 p.m. Eastern time: (1) review and electronically sign your loan agreement; (2) provide us with your funding preferences and relevant banking information, and (3) complete the final verification process.

Consult a tax advisor regarding the deductibility of interest.

4 Minimum required line amount for this interest rate is $100,000 and is based on a maximum Combined Loan-To-Value (CLTV) of 70% or less. As low are rates vary by state/geographic region. The lowest rate listed includes a 0.25% interest rate reduction obtained if the payment is automatically deducted from a SunTrust checking, savings or money market account. For the SunTrust Equity Line, this interest rate reduction does not apply to promotional rate advances, Fixed Rate/Fixed Term Advances or during the Repayment Period. All loan and line discount offers are subject to change. Offer is available for new and refinanced consumer home equity lines as well as for home equity credit line increases. Relationship pricing discounts are not available on existing consumer loans or lines of credit. The Prime Rate means the highest per annum “Prime Rate” of interest published from time to time by The Wall Street Journal in its “Money Rates” listings, which was 3.25% on 5/1/2020. Standard APRs are variable; are based on your collateral property location, credit line amount, Combined Loan-To-Value (CLTV) ratio and other factors; and can range from Prime + 0.75% (currently 4.00% APR) to Prime + 6.91% (currently 10.16% APR) (during the 20-year repayment period for this option, the APR will continue to be calculated at a variable rate and your minimum monthly payment will be 1/240th of the total balance at the end of the draw period, plus interest and any applicable fees/charges). The maximum APR is 18% for properties located in FL, GA, TN, AL, SC, VA, MD, DC, AR, WV and MS. The maximum APR is 16% for properties located in NC. Offer and rates subject to change without notice. Offer is only available for owner-occupied, single-family, primary residences and condominiums located in FL, GA, TN, AL, SC, VA, NC, MD, DC, AR, WV or MS, and is not valid on manufactured homes or cooperatives. SunTrust must be in a valid first- or second-lien position. Exclusions and limitations apply. Property insurance is required and, if applicable, flood insurance will be required. For each advance taken under the Fixed Rate/Fixed Term option, there will be a $15 processing fee (except in MD and NC). Preliminary line decisions are usually made within 24 hours on applications received during normal banking hours.

A 0.25% interest rate reduction off the standard rate of a consumer line of credit is available if the payment is automatically deducted from a SunTrust checking, savings or money market account using SurePay. For the SunTrust Equity Line, this interest rate reduction does not apply to promotional rate advances, Fixed Rate/Fixed Term advances, or during the Repayment Period. All line discount offers are subject to change. Offer for new and refinanced eligible consumer loans and lines of credit, as well as for credit line increases. A relationship discount is not available on existing consumer loans or lines of credit. Relationship pricing discounts may not be applicable for all products. Consult your banker for details.

Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice.

7 Payment example: Monthly payments for a $10,000 loan at 4.99% APR with a term of 3 years would result in 36 monthly payments of $299.66.

8 Cash-Out Refinance not currently offered in Texas.  Availability and cash-out amount are both subject to loan-to-value ratio requirements.

9 Adjustable Rate Mortgage (ARM) products have interest rates that may increase after consummation.

10 Consult your financial advisor regarding the deductibility of interest and the advisability of converting other debt to debt secured by your home.

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