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Last Updated: 04/18/2025

Truist Bank Home Equity Loans

in Home Equity Loans from Truist Bank

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

Pros

Cons

No prepayment penalty.
Considers applicants with fair credit.

Charges an origination fee.
No co-sign option available.
Only available in 11 states.

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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Contact

Headquarters

214 N Tryon St

Charlotte, NC 28202

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