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Truist Mortgage Review 2023

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At a glance



Rating: 4.5 stars out of 5
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Bankrate Score

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, USDA, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing; home equity line of credit (HELOC), construction and renovation loans


Nationwide Availability

Available in all U.S. states except Alaska, Arizona and Hawaii

Credit Good

Min. credit score required

620 for conventional loans

Pros and cons

Checkmark Pros

  • Huge bank with a branch network in several states and Washington, D.C.
  • Latest mortgage rates available online
  • Above-average rating from J.D. Power

Close X Cons

  • Higher rates compared to some other banks
  • Minimum borrower requirements not disclosed online

Truist overview

Headquartered in Charlotte, North Carolina, Truist is the seventh-largest bank in the U.S., representing the union of two banks: BB&T and SunTrust, which merged in 2019. You can visit Truist online to explore different home loan options, which notably often come with promotional closing cost discounts.

Truist is good for 

Borrowers who want to work with a financial giant or are already banking customers

Breakdown of Truist overall score

  • Affordability: Truist’s mortgage rates were well above Bankrate’s averages as of this review, so shop around with a few other banks or lenders to compare costs. If you’re a banking customer, you might be eligible for some discounts.

  • Availability: The bank offers mortgages, including lower-down payment government loans, in the majority of states in the U.S.

  • Borrower experience: J.D. Power ranked Truist above-average for customer satisfaction in mortgage origination in 2022. The bank’s website features a wealth of resources for homebuyers, including calculators and videos.


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.

Affordability: 4.3/5

In terms of interest rate, a mortgage from Truist might cost you more than it would at some other banks. You can compare the bank’s rates on its website and adjust each loan with different discount point scenarios. The bank doesn’t disclose its fees online, but there’s relationship pricing and special incentives for existing customers, according to a bank spokesperson.

Availability: 4.5/5

Truist works with home loan borrowers in almost all states, offering the types of mortgages you’d expect from a big bank: conventional (conforming and non-conforming options); FHA, VA and USDA loans; and a lender-paid mortgage insurance option for first-time homebuyers that cuts the mortgage insurance premiums in exchange for a higher rate. The bank can also assist with refinancing when rates drop.

Borrower experience: 4.7/5

Truist is one of the largest financial institutions in the U.S., accredited by the Better Business Bureau with an A+ rating. (The customer feedback with the BBB, however, is less than favorable: approximately one out of five stars.) The bank made an appearance on J.D. Power’s rankings for mortgage origination customer satisfaction, coming in above industry average.

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. When you’re ready to apply for a loan, you can start the process online, at a branch or by calling 855-257-4040.

Refinancing with Truist

Truist offers refinancing options if you’re looking to lower your rate, change your loan terms or tap your home’s equity. The bank showcases current refinance rates online.

Alternatives to Truist

Written by

David McMillin

Contributing writer

David McMillin is a contributing writer for Bankrate and covers topics like credit cards, mortgages, banking, taxes and travel. David’s goal is to help readers figure out how to save more and stress less.

Edited by

Suzanne De Vita

Arrow Right

Mortgage editor