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BB&T mortgage is no more. The company has merged with SunTrust Bank to form Truist, which means its state licenses may expand in the future.
This review is no longer being updated, and the fees mentioned do not apply to Truist. Read our review of Truist to find out if it’s the right fit for you, or compare other mortgage options.
Conventional: 620
FHA: 660
USDA: 640
VA: 620
Jumbo: 720
Refinance: 620
Minimum credit score
3%
Minimum down payment (Conventional)
Only available in: AL, DC, FL, GA, IN, KY, MD, NC, NJ, OH, PA, SC, TN, TX, VA, WV
State availability
Loan products offered | Conventional, Jumbo, FHA, VA, USDA, Home Equity/HELOC, Refinance |
---|---|
Minimum credit score | Conventional: 620 FHA: 660 USDA: 640 VA: 620 Jumbo: 720 Refinance: 620 |
Minimum down payment (Conventional) | 3% |
State availability | Only available in: AL, DC, FL, GA, IN, KY, MD, NC, NJ, OH, PA, SC, TN, TX, VA, WV |
NMLS # | 399803 |
Review by
Heather Petty is a personal finance writer at Finder, specializing in home and personal loans. After falling victim to a disreputable mortgage broker when buying her first home, she’s on a mission to help readers avoid similar experiences when managing their own finances. A self-proclaimed word nerd, her writing and analysis has been featured on MSN, Credit.com and MediaFeed, among other top media. Heather previously worked as a technical writer and editor for the casino systems industry and is an internationally published young adult mystery author. She earned a BA in English with a minor in journalism from the University of Nevada, Reno.
BB&T offers some unique loan programs to help with down payments and those with low credit scores. Its online application helps streamline prequalification, but loans are limited to 15 states and Washington, DC.
BB&T is not currently available on Finder
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BB&T examines your financial and credit history to find out if you qualify for a loan. Requirements vary depending on the loan you apply for, but you’ll undergo a full credit check and need to provide information about your assets, income and debt.
To determine if you meet the requirements for a BB&T mortgage, start the prequalification process. Provide your financial and personal information to see if you qualify and how much you can expect the mortgage to cost.
The documentation you’ll need for a mortgage from BB&T depends on your financial background and the type of loan you’re looking for. Expect to provide at least the following documents during the application process:
BB&T doesn’t disclose its mortgage-related fees on its website. Typical mortgage fees and costs you can expect are:
The home mortgage application process begins online:
In addition to its more traditional products, BB&T also offers:
This bank offers a nice variety of mortgage loans, with refinance and home equity options. But where BB&T really shines is for new homeowners and borrowers without a lot of money for a down payment. In addition to FHA mortgages, the bank provides the HomeNow and CHIP options, which allow gift funds to go toward a down payment and require you to take a homebuyer education course to be eligible.
Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.
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BB&T Bank has poor reviews online. The bank has no rating with Trustpilot and isn’t accredited with the Better Business Bureau (BBB). Out of its 256 customer reviews, the bank has an average 1.06 out of 5 stars as of April 2021. However, it has an A+ rating with the BBB, primarily for its response to over 1,100 complaints in the last three years, centered around poor customer service and high fees.
Positive online reviews report a streamlined mortgage process and a website that’s easy to navigate.
BB&T traces its roots back to 1872 as a small community bank in North Carolina. Today, BB&T has more than $230 billion in assets and more than 1,700 branch locations across the South and Midwest. BB&T services started with small-town banking but have expanded into commercial banking, insurance, asset management, corporate mortgages, capital markets and specialized lending.
The bank has recently merged with SunTrust Bank and will soon be called Truist, which should fully integrate in 2022, making it the sixth-largest bank in the US.