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SunTrust vs. Bank of America mortgages

Both are giants in the banking industry, but how do the home loan programs, fees and requirements of these two lenders stack up?

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Fact checked

How do SunTrust and Bank of America Mortgage compare?

SunTrust logo
Bank of America Mortgage logo
  • Choose this lender for access to a variety of government loan programs
  • Watch out for frustrating customer service and billing errors
  • A good option for low-income borrowers
  • Choose this lender for low interest rates
  • Watch out for bad customer reviews
  • A good option for borrowers without much credit history

Loans offered

  • Purchase
  • Refinance
  • Jumbo
  • Home Equity
  • FHA
  • VA
  • USDA
  • Purchase
  • Refinance
  • Jumbo
  • Home Equity
  • FHA
  • VA
  • USDA

Minimum credit score

Conventional: 620

Conventional: 620

States available

Not available in: AK, AZ, HI, OR

Available in all states

Pros

  • Low down payment options available
  • Available online in English and Spanish
  • Full-service banking
  • In-person accessibility
  • Lower than average interest rates
  • Alternative credit data accepted
  • Discounts for existing clients available

Cons

  • Not available in all states
  • Higher than average interest rates
  • High volume of consumer complaints
  • Limited coverage in the Midwest
  • History of irresponsible mortgage lending

Customer reviews

SunTrust is accredited with the Better Business Bureau and holds an A+ rating as of September 2019. Customer reviews tell a different story, though. The company has earned 1 out of 5 stars based on 75 reviews, with most reviewers citing problems with the product, service and billing. Other forums echo similar sentiments. On Consumer Affairs, SunTrust Mortgage has a 1 out of 5 stars based on 32 reviews. While customers were pleased with the mortgage options, they said the service could be slow and representatives were frustrating to deal with.
Bank of America has been accredited with the Better Business Bureau since 1949, and boasts an A+ rating for its operations and interaction. It falls short in the customer service department, though. As of August 2019, the BBB recorded 5,561 complaints, and Bank of America has earned a one-star rating from 280 customer reviews. It's a similar story on TrustPilot, where the bank has a 3.9/10 rating based on 61 reviews. While customers praised the savvy online experience and diversity of mortgage products, many were frustrated with the service they received. It's worth noting that these consumer reviews are for Bank of America as a whole — and not for its mortgages specifically.

Compare other mortgage lenders

Name Product Loans offered State availability Min. credit score
Axos Bank
Conventional, Refinance, Jumbo, Home Equity, Fixed, Adjustable, FHA, VA, USDA
Available in all states
620
Explore a full suite of home loan options with this direct online lender.
Morty
Morty
Conventional
AL, AR, CA, CO, CT, DC, DE, FL, GA, IA, ID, IL, IN, KS, KY, MD, ME, MI, MN, MS, MT, NC, NE, NJ, NM, OH, OK, OR, PA, SC, TN, VA, WA, WI, WV
680
Requires minimum credit score of 680 for conventional loans above $100,000 only. Not currently offering FHA, VA, USDA, Jumbo, or certain types of refinancing. A short online form presents you with multiple loan options and terms to choose from. Not available in every state: make sure you live in a qualifying state before applying.
Rocket Mortgage
Conventional, Refinance, Jumbo, FHA, VA, USDA
Available in all states
620
Streamline your mortgage from quote to final payment — all from your computer or phone.
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Compare up to 4 providers

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