How do SunTrust and Bank of America compare?
- 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
Neither of these seems the right fit?
Not available in: AK, AZ, HI, OR
- Low down payment options available
- Available online in English and Spanish
- Full-service banking
- Low interest rates
- Alternative credit data
- Discounts for existing clients
- 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
- Less personalized approach
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 (BBB) since 1949, boasting an A+ rating for its operations after closing almost 5,500 customer complaints over the last three years.
However, it falls short in the customer service department, earning slightly over a one-star rating from 405 customer reviews. It’s a similar story on Trustpilot, where the bank has a 1.4 rating based on 438 reviews as of December 2020. 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.
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