Our take: Truist’s HELOC has a few appealing features, but our team generally only recommends HELOCs that earn a 4.0 rating or higher. If you’re looking for stronger options, visit our resource on the Best HELOCs to compare top-rated lenders such as Figure and FourLeaf Credit Union, which offer more competitive terms and higher customer satisfaction.
HELOC
- Personalized help from loan advisors
- Low introductory rate
- High loan-to-value ratio allowed
- Not available in every state
- Restrictions on no closing costs
- Complicated terms and conditions
| Rates (APR) | 9-month introductory rate starting at 6.49%, with variable post-introductory rates of 7.75% – 14.75% |
| Loan amounts | $15,000 – $1,000,000 |
| Repayment terms | Draw: 10 years / Repayment: 5, 10, 15, 20, or 30 years |
Truist is one of the largest banks in the country, formed in 2019 when Branch Banking and Trust Company (BB&T) and SunTrust Bank merged. If you previously had a BB&T home equity line of credit (HELOC) or a SunTrust HELOC, you’re now a Truist customer.
Within the home equity space, Truist focuses exclusively on HELOCs—it does not offer home equity loans. Its line of credit includes a low introductory rate starting at 6.49% APR and a higher-than-average maximum LTV.
Still, the fine print matters. Many of the best perks, including the intro rate and no-closing-costs offer, come with conditions that can catch borrowers by surprise.
Table of Contents
How does a Truist home equity line of credit work?
With its HELOC, Truist allows you to choose a fixed or variable rate, including the option to set up only a portion of your credit line as a fixed rate. These features are unique and allow you to customize your loan, but they come at a cost. You’ll pay a $15 setup fee for fixed rates and a $50 annual fee.
Let’s take a closer look at the rates and terms.
| Rates (APR) | 9-month introductory rate starting at 6.49%, with variable post-introductory rates of 7.75% – 14.75% |
| Rate discounts | 0.50% autopay |
| Loan amounts | $15,000 – $1 million |
| Draw period | 10 years |
| Repayment period | 5, 10, 15, 20, or 30 years |
| Maximum LTV | 89% |
| Fees | $15 setup; $50 annual fee; $0 – $10,000 closing costs |
Special introductory rate
Truist currently offers a special introductory variable rate as low as 6.49% APR for the first nine months. After the introductory period, the rate increases to the standard prime rate, which is 7.75% to 14.75% APR. HELOC rates fluctuate based on federal changes, but that’s standard for every lender.
No closing costs
Closing costs and other origination fees can range from $0 to $10,000. Truist offers to cover your closing costs as long as you qualify for the offer, borrow $500,000 or less, and don’t pay off your HELOC within 36 months. If you pay off the balance within the first three years, you must reimburse Truist the cost.
Get extra help from Truist loan officers
When you apply for a HELOC with Truist, the bank assigns you a dedicated loan officer. It makes the process more personalized, and it’s helpful to work with the same person from start to finish. You can also search for loan officers and contact your top picks directly.
Excellent credit required for the lowest rates
HELOC lending requirements vary depending on the lender. With Truist, you must have excellent credit—usually 800 and above—to qualify for the lowest advertised rates. You can expect higher rates if your credit score is lower.
Must complete an appraisal
You need to complete a home evaluation, but the exact method depends on your loan request. Truist might require an appraisal, evaluation, or automated valuation.
Only borrow what you need
Truist has a minimum draw of $5,000, and you can have a maximum of five fixed-rate draws open at a time. Similar to a credit card limit, your equity replenishes as you repay.
Truist HELOC pros and cons
Pros
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Personalized help from a loan advisor
After you apply, Truist assigns you a dedicated loan advisor. Consistent help from the same person can make the process easier.
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Low introductory rate
Truist offers an introductory rate of 5.99% to qualified borrowers for the first nine months.
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High LTV allowed
You might be eligible to borrow up to 89% of your home’s value, which is much higher than what many other lenders offer.
Cons
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Not available in every state
See below.
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Restrictions on no-closing-costs offer
Truist offers zero closing costs, but you must repay the bank if you pay off your HELOC within 36 months.
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Complicated terms and conditions
The advertised offers are legitimate, but the fees, introductory rates that expire after nine months, and other aspects can be confusing.
States where Truist HELOCs are available: Alabama, Arkansas, California, Washington, D.C., Florida, Georgia, Indiana, Kentucky, Maryland, Mississippi, North Carolina, New Jersey, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and West Virginia
Truist customer reviews
Here’s an overview of customer reviews for Truist on some of the most popular websites.
| Source | Rating | Number of reviews |
| Better Business Bureau | 1.08/5 | 1,328 |
| Trustpilot | 1.2/5 | 2,000 |
| 3.7/5 | 182 |
Truist earns low customer ratings, but we’re still confident it’s a reputable lender. Most large banks, including Wells Fargo, Chase, and Bank of America, earn low ratings. This is partly due to the high volume of customer interactions and their wide variety of products.
How does Truist compare to alternatives?
Due to its low overall LendEDU rating, we recommend comparing Truist with our choices for the best HELOC lenders:
How we rated Truist
We designed LendEDU’s editorial rating system to help readers find companies that offer the best HELOCs. Our system awards higher ratings to companies with affordable solutions, positive customer reviews, and online transparency of benefits and terms.
We compared Truist to several HELOC lenders, using hundreds of data points from company websites, public disclosures, customer reviews, and direct communication with company representatives. We weighted, scored, and combined each factor to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. Our take is represented in our rating, recapped below.
| Company | Rates (APR) | Rating (0-5) |
|---|---|---|
| 9-month introductory rate starting at 6.49%, with variable post-introductory rates of 7.75% – 14.75% |
About our contributors
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Written by Taylor Milam-SamuelTaylor Milam-Samuel is a personal finance writer and credentialed educator who is passionate about helping people take control of their finances and create a life they love. When she's not researching financial terms and conditions, she can be found in the classroom teaching.