Anyone who owns a home knows how important the mortgage process is. It’s imperative buyers seek a preapproval from a lender prior to choosing a home. It can make or break a deal. Buyers who want a home that’s got multiple offers can lose their bidding war without a preapproval letter from a reputable lender. Sellers are more likely to choose a bidder with a preapproval who is more likely to have their mortgage approved for their asking price. It helps keep the process going as quickly as possible, and it’s better for both buyers and sellers.
SunTrust is one of the many banking institutions offering mortgage loans to consumers. SunTrust knows that packing, moving, buying a home, and going through the process of buying and selling is difficult, so they make it their mission to make the mortgage process as simple as possible. Lenders prefer to discuss mortgage options with buyers in person so they can work together to find the right type of mortgage for each buyer. This can make a difference to homeowners, and it’s why so many people choose to work with SunTrust when buying is the next step.
Types of Mortgages Available to Consumers
- Fixed rate mortgages
- Adjustable rate mortgages
- Agency affordable financing
- Agency plus financing
- Federal Housing Administration loans
- Jumbo financing
- Doctor loan program
- Home improvement construction loans
- USDA rural development loans
- VA loans
SunTrust offers every type of loan imaginable for buyers of various financial means. From low-cost loans to doctors who need a home while they go through their residency, SunTrust wants buyers to have a chance to afford a home at every stage of life. By making an appointment to speak with a lender, you can fill out an application and discuss your financial situation with a lender now to ensure you have the loan you need when it’s time to buy.
SunTrust knows that prequalifying for a mortgage is important, and they know that many people are unfamiliar with the many additional costs of home ownership if they’ve never owned a home before. This is why a lender prefers to sit down with buyers and discus what they can really afford. If a couple can afford a mortgage up to $2,500 per month, the lender will sit down and explain to them that their budget must have room for insurance, taxes, maintenance, HOA fees, and the many things that come along with owning a home.
This helps buyers choose to buy a more affordable house than the bank tells them they can afford. It prevents buyers from ending up with a home they can’t actually afford while still enjoying the rest of their life. Lenders also sit down with buyers to go over their credit report to discuss any issues. Some buyers are unaware there are mistakes on their credit report, but a lender can help point them out and direct you to have them fixed as soon as possible to qualify for a lower rate and a better mortgage.
The personal service offered by SunTrust lenders is what makes these mortgages so popular among buyers. Many lenders choose to do the bulk of their mortgage lending online, which removes the personal aspect of lending. Personal lending is what helps buyers get the most for their money and still end up with the home they love at the end of the process. Consider SunTrust when searching for a bank to finance the home of your dreams as you embark on the buying process.