Understanding SunTrust Personal Loans

Frequently Asked Questions

Buying something like a new RV or boat is exciting, but you may still have some questions about what you need to do to secure a personal loan. Our most frequently asked personal loan questions are below.

  • General Boat Loan Information

  • Boat Loan Costs and Fees

    • Frequently Asked Questions

      Do you charge higher interest rates on marine loans for used boats or for refinancing?

      No. SunTrust offers the same rates for new and used boats, whether you are purchasing or refinancing.

      Will I have to pay any fees with a marine loan?

      SunTrust does not charge any points, service charges or other processing fees for a marine loan.

      As outlined in the “Boat Documentation and Surveys” section, SunTrust requires a qualifying boat secured by a marine loan to be federally documented with the U.S. Coast Guard. There are fees associated with this requirement, and the boat loan applicant/boat owner is responsible for paying the U.S. Coast Guard documentation fees.

  • Boat Documentation and Surveys

    • Frequently Asked Questions

      I’m confused about U.S. Coast Guard documentation. Can you explain, and what will it cost?

      SunTrust requires a qualifying boat secured by a marine loan to be federally documented with the U.S. Coast Guard. Qualifying boats are typically 26’ or longer and weigh more than five net tons. U.S. citizenship is required for U.S. Coast Guard documentation. Additionally, SunTrust requires a ship’s mortgage to record the lien with the U.S. Coast Guard.

      The cost of the U.S. Coast Guard documentation and ship’s mortgage lien recordation is approximately $200 for a purchase and approximately $50 for a refinance.

      Most documentation service companies charge a fee to file the U.S. Coast Guard documentation and ship’s mortgage lien recordation for your boat. However, SunTrust can provide this service to you at no additional fee, saving you hundreds in service fees.

      Do I need a marine survey, and what will it cost?

      SunTrust recommends a marine survey for any boat you plan to purchase, and we require the survey for any marine loan financing the purchase of a used boat. Marine surveys average $13 to $18 per foot, plus hauling (not including sea trials or engine surveys). The boat loan applicant/boat owner is responsible for the cost of the marine survey.

  • General RV and Motorhome Loan Information

  • RV and Motorhome Loan Costs and Fees

  • Does your purchase qualify for SunTrust financing?

  • Choosing the right recreational loan

    • Frequently Asked Questions

      What’s the difference between a SunTrust motorhome/RV loan and a LightStream RV loan?

      SunTrust motorhome/RV loans are available for Class A and Class C motorhomes, and Class B conversion vans, with loan amounts from $55,801 to $1,500,000. You can choose a fixed or variable interest rate, and we offer terms up to 240 months.2,3 Depending on the motorhome you are financing, the interest you pay on a motorhome loan may be tax deductible.1 A motorhome loan is a secured loan and requires a minimum down payment, as well as a motorhome inspection. An application can be submitted online, in a branch or via mail. SunTrust motorhome loan specialists are experts when it comes to financing and can provide hands-on guidance throughout the loan process.

      A LightStream RV loan can be used to finance an RV, towable camper or trailer, with a loan amount from $5,000 to $100,000. Interest rates are fixed and terms are available up to 84 months.4 This is an unsecured loan requiring no collateral. The entire process, from application to funding, is completed online for fast and efficient access to funds.

      Important information about these products:

      1 Consult a tax advisor regarding deductibility of interest.

      2 Your actual rate may vary based on a number of factors, including loan term. Variable rate loans are available on loan amounts of $100,000 or more. Available rates may change without notice. Property insurance required. Loan approval and final terms are subject to a review of your credit history, income and other factors. Rates effective 06/11/2018.

      3 Payment example: Financed loan amount of $100,000 after a down payment of 15% with a 20-year term at a rate of 5.50% Annual Percentage Rate (APR) would result in 240 monthly payments of $687.88.

      4 Payment example: Monthly payments for a $10,000 loan at 4.04% APR with a term of 3 years would result in 36 monthly payments of $295.42.

      What's the difference between a SunTrust marine loan and a LightStream boat loan?

      SunTrust marine loans are available for boats 25’ and longer with loan amounts from $25,000 to $4,000,000. You can choose a fixed or variable interest rate, and we offer terms up to 240 months.2,3 Depending on the boat you are financing, the interest you pay on a marine loan may be tax deductible.1 A marine loan is a secured loan and requires a minimum down payment, as well as a marine survey. If the boat you are financing qualifies for U.S. Coast Guard documentation, SunTrust requires the boat to be documented and secured with a ship’s mortgage. A marine loan application can be submitted online, in a branch, or by fax or mail. SunTrust marine loan specialists are experts when it comes to boat financing and can provide hands-on guidance throughout the loan process.

      A LightStream boat loan can be used to finance any size boat with a loan amount from $5,000 to $100,000. Interest rates are fixed, and terms are available up to 84 months.4 This is an unsecured loan requiring no collateral. The entire process, from application to funding, is completed online for fast and efficient access to funds.

      Important information about these products:

      1 Consult a tax advisor regarding deductibility of interest.

      2 Your actual rate may vary based on a number of factors, including loan term. Variable rate loans are available on loan amounts of $100,000 or more. Available rates may change without notice. Property insurance required. Loan approval and final terms are subject to review of your credit history, income and other factors. Rates effective 06/11/2018.

      3 Payment example: Financed loan amount of $75,000 after a down payment of 15% with a 20-year term at a rate of 5.50% Annual Percentage Rate (APR) would result in 240 monthly payments of $515.91.

      4 Payment example: Monthly payments for a $10,000 loan at 4.04% APR with a term of 3 years would result in 36 monthly payments of $295.42.

      Do you offer other options to finance a boat, motorhome or RV?

      Many people use their home equity line of credit to finance a renovation, consolidate debt, pay for education or make a big purchase. If your home has available equity, using your equity through a line of credit offers many benefits including potential tax deductions and return on your investment. Consult your tax advisor regarding the deductibility of interest.

Customer Service
800.786.8787 (800.SUNTRUST)

Online Banking, PC Banking, Bill Pay, and Mobile Banking
800.382.3232

TDD (Telephone Device for the Deaf)
800.854.8965

International Toll Free
800.ST.TRAVEL (800.7887.2835)

Account-specific questions
Sign onto Online Banking

General banking comments, questions, or suggestions
Complete a Contact Us form

Write Us
Mail your questions, comments, or suggestions to (No deposits or payments accepted at this address):

SunTrust Bank
P.O. Box 85024
Richmond, VA 23285-5024

Bank by Mail
You may mail checking, savings, or money market deposits to (Be sure to include a deposit slip or your name and account number. Do not send currency via U.S. mail):

SunTrust Bank, Special Handling
VA-RIC-9292
P.O. Box 27572
Richmond, VA 23261-7572

Qualified Written Request, Notification of Error, Request for Information (QWR/NOE/RFI)
For closed end Equity Loans, (this does not apply for Equity Lines of Credit) Federal Law permits you to contact us in writing regarding your account in order to request certain types of actions and/or information (with exceptions). These requests include (1) a Qualified Written Request, (2) Notice of Error, and (3) a Request for Information. If you submit a QWR, NOE, or RFI to request information or because you believe an error has been made, please include your name, loan account number, and explain in detail what information you are requesting or the reason you believe the account is in error.  Please send all QUALIFIED WRITTEN REQUESTS/NOTICE OF ERROR/REQUEST FOR INFORMATION to SunTrust Bank, TN-Nashville-8105, PO BOX 305050, Nashville, TN 37230-5050.

Mail All Other Payments and Payoffs as follows:

Access 3 / SunTrust Equity Line of Credit Payment Address
SunTrust Bank
P.O. Box 791274
Baltimore MD 21279-1274

All other lines of Credit Payments
SunTrust Bank
P.O. Box 79282
Baltimore MD 21279-0282

Consumer Loan Payments
SunTrust Bank
P.O. Box 791144
Baltimore, MD 21279-1144

Overnight Loan Payments
SunTrust Bank
Consumer Loan Payment / Box 791144
1000 Stewart Ave
Glen Burnie, MD 21061

Loan/Line Payoffs
SunTrust Consumer Lending Payoffs
P.O. Box 79232
Baltimore, MD 21279-0232