SunTrust Portfolio Affordable Housing:

SunTrust is committed to assist in providing homeownership for individuals in all segments of our community. The SunTrust Portfolio Affordable Housing program was developed to address the home financing needs in certain low-to-moderate income areas and the needs of low-to-moderate income individuals and families. The program is for owner-occupied properties only and has liberal income limits for properties located in a middle-to-upper income census tracks but does not have income limits for properties located in a low-to-moderate income census track. Much of our local market qualifies for the program. Below are some highlights of the program.

1. Single family detached, and townhomes
2. Borrower cannot own other real estate at the time of closing, however they can sell a current home the same day or prior to closing.
3. 97% Maximum LTV.
4. Seller contributions allowed: 6% with LTV =/<90%, 4% with LTV >90%.
5. Down payment can come from gifts, grants, 401K loans, unsecured loans or seller contributions.
6. Borrower must have a minimum of $500.00 of their own money into the transaction.
7. Generally a minimum 620 credit score is required.

8. The loan is not subject to mortgage insurance.

Sandra S. Madison
Senior Mortgage Loan Originator
NMLS # 43902
(434) 566-2420 direct line
www.suntrustmortgage.com/smadison