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Use the equity in your home to help pay for what matters most — now and in the future.

With a SunTrust Home Equity Line of Credit, you can take advantage of a special variable rate, Prime minus 1.01%, currently 3.24% APR for 15 months1 on initial advances of $25,000 or more at closing under the variable rate option. For balances at the end of 15 months and advances after closing with this option, rates start as low Prime + 0.49%, currently 4.74% APR2 (includes a 0.25% interest rate reduction for a SurePaySM (automatic) payment from a SunTrust bank account5.)

  • Lower interest rates than many other loans
  • Interest may be tax deductible3
  • Manage your monthly payment so it works for you
  • Flexibility to draw the money you need, when you need it
  • What can you use this Line of Credit for?
  • Line of Credit Amount
  • Interest Rate
  • Line of Credit Term
  • Access to Funds
  • Fees
  • How to Apply
  • Unsecured vs. Secured
  • SunTrust Client Benefits
  • This is a multipurpose option. You can use it for home improvements, to pay down higher rate balances, educational expenses, or any major purchase.
  • $10,000 to $500,000
  • Promotional Rate: Prime minus 1.01%, currently 3.24% APR for 15 months1, on initial advances of $25,000 or more taken at closing under the variable rate option.

    For balances at the end of 15 months and subsequent advances with this option, rates start as low as Prime + 0.49% currently 4.74% APR2 (includes a 0.25% interest rate reduction5)

    Check Rates in your Area >
  • 10 year draw period and a 20 year repayment period2
  • You can select how much you need when you need it, up to your approved credit limit, during the draw period. Use variable rate checks, Online Banking, or Mobile Banking to access available funds. Or visit your nearest branch.
  • Annual Fee of $65 (Waived for clients with a Signature Advantage account or Premier Banking clients)
    No closing costs, as long as your account is open for 3 years4
  • Apply online, by phone, or at a local branch. Close your line of credit at a local branch.
  • Secured by your home
  • Existing SunTrust clients are eligible for a 0.25% interest rate reduction off our standard rates for new and refinanced equity lines (Payments must be automatically deducted from a SunTrust bank account using a SurePay, (automatic) payment option.5

Apply in 4 easy steps.

  • Step 1

    Complete Application

    Apply online, in a branch or over the phone in less than 15 minutes.

  • Step 2

    Preliminary Loan Decision

    If approved, a SunTrust representative will contact you within 24hours to discuss the details and documents required.

  • Step 3

    Loan Processing

    SunTrust reviews your submitted documents and orders any applicable property services, including title and appraisal.

  • Step 4

    Final Decision & Loan Closing

    Review the final approved terms and schedule a convenient time and day to sign the loan documents in a branch.

 

How large of a line of credit can I obtain?

Important Information About These Products

1 Special Rate Advance: The special advance rate is variable for fifteen (15) months and is applicable only for an initial advance of $25,000 or more taken under the variable rate option at the closing of the line of credit, to be disbursed immediately upon expiration of any applicable rescission period, and is valid for approved applications received by 7/31/17 and that close by 9/15/2017. An initial advance of $25,000 or more taken at closing under this option shall accrue interest at the Special Rate for a period of fifteen (15) months from the date of disbursement of the advance. Special Rate Advance may not be used to pay off or pay down any SunTrust debt. Advances under this option subsequent to the Special Rate Advance, as well as any promotional balance remaining upon expiration of the Special Rate, shall accrue interest at the standard rate(s) and margin(s) as described below and in your Equity Line Agreement. Offer subject to change without notice at any time.

2 Minimum 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 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 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 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 4.25% on 6/15/17. 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 + 0.25% (currently 4.50% APR) to Prime + 8.54% (currently 12.79% 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 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. For each advance taken under the Fixed Rate/Fixed Term option, there will be a $15 processing fee (except in MD and NC). There is a $65 annual fee, if and as allowed by applicable law, which is waived for clients with a Signature Advantage account or clients enrolled in Premier Banking. Preliminary line decisions are usually made within 24 hours on applications received during normal banking hours.

3 Consult your tax advisor regarding deductibility of interest.

4 For new lines 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.

5 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.

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