SunTrust Mortgage: FAQs

Why is the principal balance on my monthly billing statement not my payoff amount?

Your principal balance is not the payoff amount because the interest on your loan is calculated in arrears. For example, when you paid your August payment you actually paid interest for July and principal for August. The payoff amount also includes any escrow adjustments, release fees, and other charges and credits due on the loan.

Can I access my loan information online?

Yes, you can access your loan information 24/7. Click “Logon to My Account” and create your secure username and password to access your mortgage loan information, view and print an electronic copy of your monthly mortgage statement, update your contact information, obtain a copy of your 1098 form, sign up for email alerts and much more.

Who should I contact to discuss payment assistance?

We are here to help you. We want to assist you with resolving issues that affect your ability to make timely mortgage payments. Whether your challenges are temporary or long term, we may have options to help.  The sooner you contact us, the quicker we can evaluate your circumstances to determine the best options available for you. We will assign a specific Home Preservation Specialist to review your situation and guide you through the process. To discuss payment assistance, please contact a Home Preservation Specialist at 855.223.4680, Monday through Friday 8 a.m. to 10 p.m., and Saturday 9 a.m. to 3 p.m. ET.

Who should I contact if I have questions?

General Inquiries – You can reach a member of our Client Services Department at 800.634.7928, Monday through Friday 8 a.m. to 8 p.m. and Saturday 9 a.m. to 3 p.m., ET.

New Loan/Refinance – You can reach a Loan Officer in our Consumer Direct Department at 800.330.4684, Monday through Thursday, 8 a.m. to 8 p.m., Friday, 8 a.m. to 6 p.m. and Saturday 9 a.m. to 1 p.m., ET, or you may find a Loan Officer  in your area.

Trouble Making Your Payments – You can reach our Collections Department at 800.443.1032, Monday through Friday 8 a.m. to 8 p.m., ET and Saturday, 9 a.m. to 3 p.m., ET.

Insurance Renewals/Bills – You can reach a member of our Insurance Department at 866.515.2139, Monday through Friday 8 a.m. to 8 p.m., and Saturday 9 a.m. to 3 p.m. ET.

 

For more information access our customer service page

How can I payoff my loan more quickly?

The Bi-Weekly® Mortgage Payment Plan is an option to consider if you are looking to build equity faster and pay your home off quicker.1 Here is how it works. You pay half of your monthly mortgage payment every two weeks (set up automatic debit)2 and you go from making 12 full mortgage payments to 26 half payments (this means you make the equivalent of one full extra mortgage payment per year). Your two extra half payments will go straight to principal.

Enrollment is free.  For more information contact Client Services at 800.634.7928, Monday through Friday, 8 a.m. to 8 p.m., and Saturday, 9 a.m. to 3 p.m. E.T.

1 Benefit to the consumer in the form of building equity is through extra payments applied to principal only. Equity gains assume property values remain stable. The number of months of early repayment achieved by enrolling in this program depends on the overall length of time remaining on your mortgage term, with longer remaining terms generating greater benefit. Consult with a professional financial advisor when considering switching to a bi-weekly mortgage payment schedule.

2 Sufficient funds must be in your bank account at time of automatic debit.

What are my payment options?

At SunTrust Mortgage, Inc., we understand our clients have unique preferences. That's why we offer you choices to fit your lifestyle. Whether you choose to make payments online, by phone or by mail - we want to accommodate you! Log On to Your Account to learn more about our various payment options.

Who do I contact to get a payoff amount?

To get a payoff amount, please call our Client Services Department at 800.634.7928, Monday through Friday 8 a.m. to 8 p.m. and Saturday 9 a.m. to 3 p.m., ET.

What is an escrow account?

We collect funds from you as part of your monthly mortgage payments, and deposit them into an account which we maintain on your behalf.  We use the account to pay your real estate taxes, hazard insurance premiums, and if applicable, your flood insurance and/or mortgage insurance premiums.  This allows us to ensure that your annual expenses for real estate taxes and insurance are paid in full and in a timely manner.

Can I set up automatic payments for my mortgage?

You can have your payment deducted from your checking or savings account on the 1st through the 15th of each month using our free SurePay service. Log On to Your Account and then click Payment Options or sign up using the form on the back of your billing statement. You may also be able to set up automated payments using your own bank's online payment system.

 

 

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