How do SunTrust and Wells Fargo 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 down payments as low as 3%
- Watch out for hidden fees and scandals
- A good option for borrowers who want to automate their payments
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 down payment
- Use gift funds
- Easy application process
- Not available in all states
- Higher than average interest rates
- Slow customer service
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.
Reviews for this lender are mixed, but trend toward negative. First-time homebuyers recommend Wells Fargo for its thorough guidance through the home loan process. Other borrowers praise its mortgage specialists for their professionalism and helpful advice over the phone.
Of the complaints, the most frequent was of customer service's slow response time and the excessive documents needed to assess loan applications.
As of September 2019, Trustpilot gives Wells Fargo a rating of 1.5 out of 5 stars based on 157 ratings. The Better Business Bureau doesn’t give Wells Fargo a rating, but it gets a customer score on the site of 1 out of 5 stars based on 442 reviews, and the BBB has recorded over 1,000 complaints closed in the last year alone.
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