Last Updated: 04/18/2025
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Highlights
Credit Score Range
660 - 850
Amount Range
$10,000 - $500,000
Maximum LTV
70%
Loan Term (Years)
5 - 30
Truist Bank Home Equity Loans Review
Truist Bank Home Equity Loans is offered by Truist Bank , a bank founded in 2019 and based in Charlotte, NC. Truist Home Equity Loans are available in 11 states and Washington, DC.
Key Takeaways
- Only primary residences considered. Truist Bank Home Equity Loans does not offer financing for vacation homes or investment properties.
- Fast process. In some cases you can close on your home loan within 3 business days.
- Maximum LTV. Truist Bank Home Equity Loans has a maximum loan to value ratio of 70%.
- Fair credit accepted. Borrowers with a credit score as low as 660 may qualify for Truist Bank Home Equity Loans.
Truist Bank Home Equity Loans Pros & Cons
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Truist Bank Home Equity Loans FAQ
How much can you borrow with a Truist Bank Home Equity Loans home equity loan?
A home equity loan allows homeowners to borrow money using their home as collateral (similar to a mortgage). Loan amounts vary depending on the value of the home minus the balance of any mortgages or liens on the property.
Truist Bank Home Equity Loans allows borrowers to apply for home equity loans of up to $500,000. The actual maximum loan amount will vary depending on the value of the property, how much you owe on it, and your creditworthiness.
What are the home equity loan requirements of Truist Bank Home Equity Loans
This lender's maximum loan to value rate is 70%. That means the total debt secured by the property cannot exceed 70% of its value. Let's say you own a property with a current market value of $100k, but you still owe $20k on your mortgage. Your equity would be $80k. In this scenario, if you have good credit, you may qualify for a line of credit of up to $50k.
What are the terms for a home equity loan via Truist Bank Home Equity Loans?
Truist Bank Home Equity Loans offers home equity loans with terms 10 years .
Generally, the APRs of home equity loans do not include points and financing charges, just the interest rate.
What is the estimated funding time for a home loan via Truist Bank Home Equity Loans?
Truist Bank Home Equity Loans will typically fund home equity loans within 3 to 7 days of approval.
What fees does Truist Bank Home Equity Loans charge for a home equity loan?
Truist Bank Home Equity Loans may charge a loan origination fee
What types of property can you use as security for a home equity loan with Truist Bank Home Equity Loans?
Lenders often have restrictions on the type of properties they will accept as security for a home equity loan. Truist Bank Home Equity Loans will consider loans secured by the following property types:
- Primary home.
Is Truist Bank a legit company?
Truist Bank was founded in 2019. It is an established company that has been in business for 7 years.
Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.
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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.
Other Services by Truist Bank
SuperMoney Net Recommendation Score
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Truist Bank Home Equity Loans Community Reviews
Would you recommend Truist Bank Home Equity Loans to your friends?
RS
Robson S.
Feb 28, 2022
May or may not recommend
The worst experience of my life. Horrible customer service. If you have to call someone, the least waiting time on the phone is 1 and half hours.
The worst bank I ever worked with.
GR
Gaby R.
Nov 5, 2020
May or may not recommend
I have had a Suntrust account my whole life, so when I started looking into Home Equity Loans, naturally I looked into Suntrust. They already had all of my information, knew my financial history and what I could pay. It made the whole process super easy and I would definitely recommend this to anyone looking for home loans. They have lots of online and in person services too so I ...Show More
MS
Mariya S.
Sep 27, 2020
May or may not recommend
I had a good experience with their Home Equity line. The process was easy and straightforward. The whole process took around 1 month to complete but they did the best to communicate the stages clearly.
Manuel E.
Feb 13, 2020
May or may not recommend
i just read a report from Diane Costagliola on SunTrust home equity line of credit. Obviously this lady didn't do enough research because SunTrust has a terrible home equity line of credit department. Basically, untrained or insufficient trained employees. Their are not competitive. They approved me for $65000 and then adjusted the approval to $20000. I went to discover and got approved for $120000 but I needed faster closing so ...Show More
Showing 4 of 4 reviews
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