1Special Rate Advance: Special Advance Rate is fixed until January 2017 and is applicable only for advances taken under the revolving line of credit and interest-only options at the closing of the line, and to be disbursed immediately upon expiration of any applicable rescission period, and is valid for applications received by 11/15/2015 and that close by 12/31/2015. Initial advances taken at closing under these options shall accrue interest at the Special Rate from the date of disbursement of the initial advances through the same date of the month in January 2017. Special Rate Advance may not be used to pay-off or pay-down any SunTrust debt or for the purchase of a home that is being used as collateral for the Access 3 Equity Line. Advances subsequent to the Special Rate Advance(s) under these options, as well as balances remaining after expiration of the special advance term, shall accrue interest at the standard rate(s) and margin(s) as described below and in your Home Equity Line Agreement.
2For new loans of $10,000 or more, SunTrust will advance certain costs on your behalf, including the first property/collateral valuation obtained by SunTrust, but excluding: any subsequent property/collateral valuation not required by us; and, if required, title insurance and related fees, and any new or increased homeowner’s and/or flood insurance premiums. For equity lines secured by a condominium unit, you may be required to pay a Condominium Questionnaire fee, between $50 and $500, to your Home Owner's Association. However, if your account is closed within three (3) years, we will add any closing costs we advanced on your behalf to your outstanding balance for our reimbursement. Total closing costs generally range from $100 to $1,500.
3 Consult your tax advisor regarding deductibility of interest.
4A 0.25% interest rate reduction off the standard rate of a consumer line of credit if the payment is automatically deducted from a SunTrust checking, savings or money market account using SurePaySM. For the Access 3 Equity Line, this interest rate reduction does not apply to promotional rate advances, Fixed Rate/Fixed Term (Option 3) advances, or during the Repayment Period. All loan 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.
5If and as allowed by applicable law. Credit Access Card not available in all states.
6Minimum required line amount for this interest rate is $50,000 and is based on a maximum Combined Loan-To-Value (CLTV) of 70% or less except in FL where it is based on a maximum CLTV of 60% or less. 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 9/10/15. Standard APRs are variable during the 10-year draw period and applies only to the revolving line of credit and interest-only options; are based on your collateral property location, credit line amount, Combined Loan-To-Value (CLTV) ratio and other factors; and can range from Prime + 0.74% (currently 3.99% APR) to Prime + 8.54% (currently 11.79% APR) (during the 20-year repayment period for these options, the rate is fixed based upon the Prime Rate in effect on the last day of your draw period plus a margin of 4% with a 20-year straight amortization). 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 second homes, 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. Consult your tax advisor regarding the deductibility of interest. For each advance taken under the Fixed Rate/Fixed Term option, there will be a $15 processing fee if and as allowed by applicable law. For Visa® cash advances, the ATM fee is $5 if and as allowed by applicable law. Visa cash advances/ATM access may not be available in all states. Preliminary line decisions are usually made within 24 hours on applications received during normal banking hours.
7You can select from a term of 60, 120, 180, 240, or 360 months. The 360-month term is only available on advances taken at closing, with disbursement occurring immediately following expiration of any applicable rescission period. Fixed Rate/ Fixed Term advances must be at least $5,000 per advance; and you may have up to five (5) outstanding advances under this option at any given time. The APR is indexed to the Prime Rate in effect on the day preceding the first day of the billing cycle in which each such advance is taken, which was 3.25% on 9/10/15, plus a margin of 4%, which results in an APR of 7.25%.
Visa® is a registered trademark of Visa International Services Association and is used by SunTrust Bank pursuant to a license from Visa® U.S.A., Inc.