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Truist HELOC review

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Minimum credit score
Not stated
State availability
Only available in: AL, AR, CA, DC, FL, GA, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA, WV


Apply online in minutes, but rates are high and customer reviews skew negative.

Truist offers home equity lines of credit (HELOCs), but you need good credit to get the best rates, which now start higher than other lenders offering more competitive introductory rates and relationship discounts. And watch out for poor customer reviews.

In this guide

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  • Details
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Loan products offered HELOC
Minimum credit score Not stated
APR range 9.15% to 16%
Repayment terms 10-year draw, 20-year repayment
Loan limits Minimum: $10,000
Maximum: $500,000
State availability Only available in: AL, AR, CA, DC, FL, GA, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA, WV

Our take on Truist

In 2019, BB&T and SunTrust merged to become Truist, the sixth-largest bank in the US. But despite its large size, Truist’s HELOC rates aren’t that competitive and its service levels appear to be lacking. Its best rate for good credit borrowers currently sits at 9.15% APR — over 1% higher than the introductory rates from AppleTree Credit Union or Citizens Bank.

And unlike lenders like U.S. Bank or PNC Bank that offer rate discounts of 0.25% to 0.5% for setting up autopayments from a linked checking account, Truist doesn’t have any relationship discounts to help you save on interest. Depending on the amount of your HELOC, even a quarter or half percent off could help you save hundreds in interest over the long term.

On the plus side, Truist doesn’t charge closing costs if you keep the line open for at least three years — although this is pretty standard in the industry. Most concerning about Truist are the thousands of overwhelmingly negative customer reviews it’s garnered on sites like Trustpilot and the Better Business Bureau (BBB), with thousands of complaints registered.

We recommend comparing more lenders to find the best HELOC rates and service levels for your needs.


  • Online application process
  • Closing averages 30 to 35 days
  • Annual fee waived in many states


  • Overwhelmingly negative customer reviews
  • $50 annual fee in AL, FL, GA, IN, KY, NJ, and OH
  • No relationship discounts available

What home equity products does Truist offer?

Truist offers HELOCs with a 10-year draw period and a 20-year repayment period. While a Truist HELOC is a variable-rate line of credit, borrowers have the option of “fixing” all or part of the line to a fixed-interest loan for a $15 fee. Truist doesn’t offer home equity loans.

Requirements are standard

Like other lenders, Truist uses your credit score to determine your eligibility and interest rate. To get the best rate, you’ll need to have a credit score of 740 or above, in addition to sufficient equity in your home, proof of income and a low debt-to-income (DTI) ratio. A large amount of debt — like a second mortgage or a car payment — can make it harder to qualify for a HELOC.

Truist fees are higher than competitors

Unlike many other HELOC lenders that try to entice customers with interest rate discounts, Truist doesn’t offer low introductory rates or relationship discounts. This means you could pay a lot more in interest with Truist HELOC than if you went with a competitor like U.S. Bank, AppleTree Credit Union or PNC Bank.

While other lenders, like Figure for example, charge origination fees on HELOCs, they may also have lower introductory rates and fast turnaround. Whenever you consent to pay origination fees or closing costs on a HELOC — which many lenders waive — make sure any benefits like reduced interest or faster turnaround make the extra cost worth it to you.

On the plus side, Truist doesn’t charge an annual fee on its HELOC in most states. And this fee is only $15 a year in the states where the annual fee applies. Other lenders may charge an annual fee of $50, $75 or more — although this fee is often waived for the first year.

Truist reviews are overwhelmingly negative

BBB rating A+
Trustpilot rating Bad
Customer reviews verified as of 12 June 2023

Compared to other banks, Truist’s customer reviews are overwhelmingly negative. On Trustpilot, a whopping 96% of online reviewers give the bank a “bad” rating — the worst possible. And while Truist has been accredited by the BBB since 1986 and has an A+ business rating, thousands of customers give Truist a poor customer service rating, with over 4,000 complaints filed in the past three years.

Frustrated customers report dismal customer service experiences, including being transferred to multiple departments and waiting on hold for minutes or hours, a lack of response from customer service reps and no email or phone support for certain issues. One customer on the BBB reported making 30 calls to the company and finding no resolution to their problem.

Truist fares better on WalletHub, where it earns an average rating and more mixed reviews — both positive and negative — although nearly all recent reviews are negative. Again, these reviews mention terrible customer service and high levels of frustration when trying to resolve issues.

How to get a HELOC with Truist

If you choose to proceed with a HELOC application, here are the steps to take:

  1. Navigate to the Truist website and select Loans, then Home Equity Line of Credit.
  2. Select Apply Now and follow the prompts to enter your property information, your personal details, Social Security number, employment history and income.
  3. Review the application and submit it for review.
  4. Wait to be contacted about the next steps.

Documents you’ll need

Prepare to provide:

  • Contact information and Social Security number.
  • Address and employment history for the past two years.
  • A list of income, debts, or other personal obligations.
  • Current mortgage or lien information.
  • Homeowners insurance declaration page.

Other home loans from Truist

Truist also offers these home loans:

  • Conventional mortgages. Choose from a 15- or 30-year fixed-rate mortgage.
  • Jumbo mortgages. A high-value mortgage with limits exceeding the borrowing limits on conforming loans as set by the US Federal Housing Finance Agency (FHFA).
  • FHA and VA loans. Government-backed loans that have more flexible eligibility requirements and lower down payments than traditional mortgages.

Alternatives to Truist

Between Truist’s poor customer ratings and relatively high rates compared to other HELOC lenders, we recommend comparing more lenders to find the best deal. The best lenders offer relationship discounts and low promotional rates on their HELOCs and home equity loans that can help you save on interest.

Whichever lender you choose, be sure to read the fine print about closing costs, interest rate caps, the ability to fix the rate on your line and prepayment penalties. For more information on how HELOCs work and eligibility requirements, see our guide to HELOCs.

Compare interest rates for home equity loans, HELOCs and cash-out refinancing

Use our tool to get personalized estimated rates from top lenders based on your location and financial details. Select whether you’re looking for a Home Equity Loan, HELOC or Cash-Out Refinance.

If you selected a home equity loan or HELOC, enter your ZIP code, credit score and information about your current home to see your personalized rates.

In the Cash-Out Refinance tab, select Refinance and enter your ZIP code, credit score and other property details to see what you might qualify for.

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