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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.

Frequently Asked Questions

Can SunTrust approve my loan before I pick out a boat?

Yes. SunTrust offers conditional approvals for boat loans for a specific loan amount.

Are interest rates higher for used boats and refinancing?

No, not at SunTrust. We charge the same low rates for new and used boats whether you're purchasing or refinancing.

Does SunTrust charge any points, service charges or fees for boat loans?

No. SunTrust does not charge any points, service charges or other fees when providing boat loans. However, the U.S. Coast Guard charges fees for documentation and lien recordation for documented vessels. Most buyers choose to have a documentation service handle the filings because of the complexity involved.

Does SunTrust finance boat taxes, warranties, slip or document fees?

No. However, SunTrust does add freight charges and reasonable commission costs to the purchase price of the boat when determining the amount that may be financed.

Can I get a loan on my wooden work boat from SunTrust?

No. SunTrust specializes in financing fiberglass and aluminum-hull pleasure crafts only. Wood, steel and ferro-cement hulls do not qualify for financing. Nor does SunTrust finance commercial or charter boats.

When should I get a marine survey, and what does it cost?

We recommend getting a survey for any boat you plan to purchase. SunTrust requires a survey for any boat we finance that is more than five years old. (Most insurance companies use the same standard.)

Should I get my boat documented with the U.S. Coast Guard?

SunTrust requires all qualifying boats to be federally documented with the U.S. Coast Guard. Vessels larger than five net tons can be documented, and this usually occurs in boats 25' or more in length. U.S. citizenship is required for documentation.

I'm ready to apply for a marine loan for my boat. What do I do next?

There are several ways to apply:

  • Online
  • Download and print a PDF version of the application, then mail or fax it to the following
    SunTrust Marine and RV Lending
    4020 University Drive, Suite 101
    Fairfax, VA 22030
  • Use our secure e-mail form to request information.

 

Can SunTrust approve a loan for me before I pick out a RV motor home?

Yes. You should know how much you qualify for before you shop for your motor home. SunTrust offers conditional approvals for specific loan amounts. To discuss this option, contact us at 800.797.2628. If you're ready, download our PDF application form to apply now.

Are interest rates higher for used or refinanced motor homes?

No, not at SunTrust. We charge the same low rates for new, used and refinanced motor homes.

Does SunTrust charge any points or other fees on an RV loan?

No. However, we do add freight charges and a reasonable dealer prep fee for RV and motor home loans to the purchase price when determining the amount that may be financed.

Can I get a loan on my conversion van?

Yes. We specialize in financing Class A motor homes, Class B conversion vans and Class C motor homes.

When should I get a motor home inspection and what does it cost?

It's always a good idea to get an inspection when purchasing a motor home, regardless of its age. SunTrust requires an inspection on all motor homes it finances. SunTrust can provide you with a list of qualified inspectors in your area. They typically charge about $150 per inspection.

How can I apply for an RV loan?

There are several ways to apply for a RV or motor home loan:

  • Online
  • Download and print a PDF version of the application, then mail or fax to the following:
    SunTrust Marine and RV Lending
    4020 University Drive, Suite 101
    Fairfax, VA 22030
  • Use our secure e-mail form to request information.

 

Why Get A Home Equity Line of Credit?

Many people use their home equity line of credit to finance a renovation, consolidate debt, pay for education, or make a big purchase. 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.)

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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

Request for Information or Notification of Error
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 (QWR), (2) a Notice of Error (NOE), and (3) a Request for Information (RFI). If you submit a QWR or NOE, please include your name, loan account number and the reason you believe the account is in error. If you submit a RFI, please include your name, loan account number and the specific information requested.

Mail All Other Payments and Payoffs as follows:

Access 3 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
CLS Monetary
TN-Nash-7967
41 Rachel Drive
Nashville, TN 37214-3684

Loan/Line Payoffs
SunTrust Bank
CLS Monetary
P.O. Box 305008
Nashville, TN 37230