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  Truist HELOC
Truist HELOC
in Home Equity Lines of Credit from BB&T
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Truist HELOC

Unaffiliated
in Home Equity Lines of Credit from BB&T
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Highlights
Loan Amount $15,000 - $1,000,000
APR  (Fixed APR) 8.95% - 13.60%
(Verified 01/24/2023)
Maximum LTV N/A

Truist HELOC Review

Truist HELOC is offered by BB&T, a bank founded in 1872 and based in Winston Salem, NC. Truist HELOC are available in 19 states across the USA.

Truist HELOC FAQ

How much can you borrow with a HELOC?

HELOCs are lines of credit that are secured by your home. Once you get approved for a certain amount, you can access your funds by check, phone, credit card, or online up to your HELOC amount.

Truist HELOC allows borrowers to apply for lines of credit of up to $1,000,000. Note that the maximum loan amount you can borrow will vary depending on the value of the property, how much you owe on it, and your creditworthiness.

Typically, borrowers with good credit can qualify for up to 85 percent of the value of the property less the balance on their first mortgage.

What are the terms for a Truist HELOC?

HELOCs have a draw and a repayment period. During the draw period you can borrow as much as you need up to your credit limit. After the draw period, you are responsible for repaying the loan. 

Truist HELOC offers home equity loans with terms ranging from 5 to 30 years.

Is there a minimum draw requirement?

Yes, there is a minimum draw requirement of $5,000.

What range of rates does Truist HELOC offer?

Truist HELOC offers APRs as low as 8.95% and up to 13.60%.

Remember the APRs of HELOCs do not include points and financing charges, just the interest rate. Most home equity lines of credit have a variable interest rate. Fixed interest rates -- if available -- typically have higher APRs, but your monthly payments don't change over the life of the line of credit.

What fees does truist heloc charge for a HELOC?

Truist HELOC may charge a loan origination fee of2% up to 5% of the loan amount of $0 to $10000

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 19 states
  • Alabama
  • Arkansas
  • California
  • Florida
  • Georgia
  • Indiana
  • Kentucky
  • Maryland
  • Mississippi
  • New Jersey
  • North Carolina
  • Ohio
  • Pennsylvania
  • South Carolina
  • Tennessee
  • Texas
  • Virginia
  • Washington
  • West Virginia

Feature Breakdown

Introductory Rate 6.99%
Purchase Intro APR Period (Fixed APR) 12 months
Annual Fee Up to $50
Origination Fee ($) $0 - $10,000
Origination Fee (%) 2% - 5%
Employment Statuses Considered
  • Self-Employed
  • Retired
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Joint Loan Applications Accepted
  • Co-borrower
  • Cosigner
  • Individual Applications
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Cash
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
  • Tax Returns
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
  • Proof of Identity
  • Proof of Residence
  • Government Issued Photo ID
  • U.S. Tax Identification Number
  • Social Security Number
Minimum Draw $5,000
Draw Period 10 years
Repayment Period 20 years
APR Type Fixed APR
Loan Term 5 - 30 years
Loan Amount $15,000 - $1,000,000
APR (Fixed APR) 8.95% - 13.60%
(Verified 01/24/2023)
Interest Rate Types Offered Fixed-Rate Mortgage

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