Headquartered in Charlotte, North Carolina, Truist is the sixth-largest bank in the U.S., representing the union of two banks: BB&T and SunTrust, which merged in 2019. The two institutions have been going through the lengthy process of converting branches and products to the Truist brand. Borrowers can visit Truist online to explore different home loan options.
Borrowers who want to work with a financial giant
- Rate-and-term and cash-out refinancing
- Home equity line of credit (HELOC)
- Home equity loan
- Construction and renovation loans
Truist’s lender fees are not disclosed online, but there is relationship pricing and special incentives for existing customers, according to a bank spokesperson.
You can view daily mortgage rates on the Truist website, and adjust each loan with different discount point scenarios.
Truist appeared in J.D. Power’s recent mortgage origination report, ranking somewhat below average for customer satisfaction.
The Truist website offers robust digital tools for borrowers, including the ability to obtain an online prequalification or preapproval and crunch the numbers with a mortgage payment calculator.
Minimum borrower requirements
You won’t find Truist’s credit score or debt-to-income (DTI) ratio requirements online as you browse. Its loan programs include a range of low-down payment options and a lender-paid mortgage insurance option for first-time homebuyers that reduces the monthly PMI in exchange for a higher interest rate.
Refinancing with Truist
Truist offers refinancing options for borrowers looking to lower their rate, change their loan terms or tap their home’s equity. Current refinance rates are available online.
Not sure if Truist is right for you? Consider these alternatives
Breakdown of Truist overall review score
- Affordability: 4.3/5
- Availability: 4.5/5
- Borrower experience: 4.7/5
To determine a mortgage lender’s Bankrate Score, Bankrate’s editorial team rates lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews. Here is our full methodology.