Truist HELOC Review 2025: Why We Gave It a 3.1/5 Star Rating

3.1 _/5

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HELOC

• Low intro rate (5.99% APR for 9 months)
• Option to lock draws into fixed rates
• No closing costs on loans up to $500K if they stay open at least three years

• Truist has a small service area compared to online lenders and national banks
• No published max CLTV
• HELOCs closed early must repay closing costs
• $15 fee per fixed-rate draw; $50 annual fee in some states

The Truist Home Equity Line of Credit (HELOC) offers up to $1 million in revolving credit with the option to convert draws to a fixed APR.

It’s a solid pick if you already bank with Truist and want to keep everything in-house. But the Truist HELOC falls short of top-rated HELOCs when it comes to availability, customer reviews, and transparency.

Table of Contents

1. How does the Truist HELOC work?
   1. Fixed- or variable-rate options
   2. Special Advance Rate (introductory offer)
   3. Borrowing amounts and uses
2. Truist HELOC requirements
3. Truist HELOC costs and fees
4. How you’ll repay your Truist HELOC
   1. Draw period (10 years)
   2. Repayment period (20 years)
   3. Does Truist charge an early payoff penalty for its HELOC?
5. How does Truist calculate your home equity?
6. Pros and cons of the Truist HELOC
7. How Truist HELOCs compare to other options
   1. Truist vs. Figure
   2. Truist vs. Aven
8. Is Truist a good loan company? Customer reviews
9. How to contact Truist for lending questions and issues
10. How to apply for a Truist HELOC
11. FAQ

How does the Truist HELOC work?

The Truist HELOC gives you access to a revolving line of credit between $15,000 and $1 million, secured by your home equity. You only borrow what you need, and as you repay, your available balance replenishes.

Fixed- or variable-rate options

Truist gives you two ways to draw: with variable-rate draws or fixed-rate HELOC draws.

Variable-rate draws	Fixed-rate draws
Standard borrowing option	Optional lock-in for up to 5 draws at a time
Rates from 7.50% – 14.85% APR	Terms from 5 – 30 years
Payment: Interest-only or 1.5% of balance	$15 setup fee per fixed-rate draw
Rate fluctuates with Prime + margin	APR locked at time of draw
Less predictable payments	More predictable payments; good for large expenses

Special Advance Rate (introductory offer)

As of July 2025, Truist offers an intro HELOC rate of 5.99% APR (Prime minus 1.51%) for the first nine months after opening your HELOC. But there are a few catches:

• The rate only applies to variable-rate draws, not fixed-rate segments
• You’ll need excellent credit to qualify
• After nine months, the rate jumps to your standard variable APR (currently 7.50% to 14.85% as of July 2025)

The HELOC rates for Truist’s intro offer are a decent short-term perk if you plan to draw a large amount early and pay it down quickly. But make sure you’re ready for the rate reset when the promo ends.

Borrowing amounts and uses

You can borrow between $15,000 and $1 million through a Truist HELOC.

There’s a $5,000 draw minimum, and you can have up to five fixed-rate draws open at any one time.

With a Truist HELOC, you can use funds however you want, including:

• Home renovations or repairs
• Debt consolidation
• Education or medical bills
• Emergency expenses
• Major purchases

Truist HELOC requirements

To qualify for a Truist HELOC, you’ll need to meet a few specific criteria:

• Property type: Must be an owner-occupied primary or secondary residence (no investment properties, manufactured homes, or co-ops)
• Location: Property must be in Truist’s service area (Alabama, Arkansas, California, Washington, D.C., Florida, Georgia, Indiana, Kentucky, Maryland, Mississippi, North Carolina, New Jersey, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia).
• Credit profile: Excellent credit (800+) is required for the lowest rates, although Truist doesn’t publish an exact minimum.
• Loan-to-value ratio: Truist doesn’t publicly list a max CLTV
• Banking relationship: Clients with at least $100,000 in Truist deposits or investments may qualify for Premier Banker access with added perks.

Not sure if your property meets the HELOC requirements? It’s worth calling to chat with a Truist mortgage specialist.

Truist HELOC costs and fees

Truist advertises no closing costs on HELOCs up to $500,000—but only if you keep the account open for at least 36 months. Otherwise, you may have to repay the costs Truist covered.

Here’s a quick breakdown:

Fee	Amount
Closing costs	Waived if loan is under $500K and stays open at least 3 years; other closing costs go up to $10,000
Early closure fee	Repay closing costs if closed within 36 months
Fixed-rate draw fee	$15 per segment
Annual fee	$50 (only in Alaska, Arkansas, California, Florida, Georgia, Indiana, Kentucky, New Jersey, and Ohio)
Interest rate (standard)	7.50% – 14.85% APR

Some fees vary by location, loan amount, or credit. Make sure to ask about them upfront, especially if you’re comparing Truist to other no-fee HELOC options.

How you’ll repay your Truist HELOC

Truist gives you flexibility in how you repay your home equity line of credit (HELOC), including a 10-year draw period followed by a 20-year repayment term. Here’s how the repayment structure breaks down:

Draw period (10 years)

During the draw period, you can borrow from your credit line as needed and choose from multiple repayment options:

• Interest-only payments: Pay only the interest that accrues each month on your outstanding balance. This keeps payments low during the draw period but does not reduce your principal.
• 1.5% of balance: Pay 1.5% of your outstanding balance each month, which covers both interest and some principal.
• Fixed-rate loan option: You can lock in a fixed interest rate on a portion of your balance. When you do, that portion converts into a fixed-rate loan with equal monthly principal and interest payments over a set term of 5, 10, 15, 20, or 30 years. You can have up to three fixed-rate balances at one time.

Truist may offer an introductory rate on your HELOC for a limited time—often significantly lower than the variable APR—before the regular rate kicks in. This intro rate only applies during the early part of the draw period and can help reduce initial borrowing costs.

Repayment period (20 years)

Once the 10-year draw period ends, the remaining balance—including any amounts not already fixed—enters the repayment period. Here’s what to expect:

• Variable-rate balance: Any unpaid variable-rate balance from the draw period will be repaid over 20 years with monthly payments of both principal and interest. The rate remains variable and may change over time based on market conditions.
• Fixed-rate draws: Any portions you previously converted to a fixed rate will continue to follow their original amortization schedule (e.g., 10-year, 20-year term), with fixed monthly payments.

Does Truist charge an early payoff penalty for its HELOC?

No, Truist doesn’t charge a penalty for early payoff. But if you close your HELOC within 36 months, you may need to repay any closing costs the bank covered upfront.

How does Truist calculate your home equity?

Truist calculates home equity by subtracting your current mortgage balance from your home value.

Your credit limit is typically based on a percentage of that amount, often up to 85% CLTV (combined loan-to-value)—though Truist doesn’t publicly confirm its max.

Home value is determined using a third-party valuation, which could be an appraisal or an automated tool. If you think the valuation is off, you can request a Reconsideration of Value.

Pros and cons of the Truist HELOC

Weigh these pros and cons of a HELOC with Truist Bank before you make your decision:

Pros

• Low intro rate (5.99% APR for 9 months)

• Option to lock draws into fixed rates

• No closing costs if loan stays open ≥ 36 months

• Borrow up to $1 million

Cons

• Limited availability only in Truist’s service area

• No published max CLTV; less transparent than top-rated competitors

• HELOCs closed early must repay closing costs

• $15 fee per fixed-rate draw; $50 annual fee in some states

How Truist HELOCs compare to other options

Truist HELOCs boast some nice perks. But when stacked against top-rated competitors like Figure and Aven, it starts to show its age. Here’s how it compares.

Truist vs. Figure

Figure offers a fixed-rate HELOC from the get-go, so you’re never left wondering what your monthly payment will be. It also boasts three-day funding, a fully digital process, and wider availability across states.

Figure may be a better fit for speed and simplicity. But Truist does offer more customizable repayment, plus in-person support if you’re located in its service area.

Truist vs. Aven

Aven’s AvenCash product is a fixed-rate HELOC with credit line access and no draw fees or annual fees. It’s more modern, with real-time access via card and a fully digital experience.

Truist, on the other hand, lets you segment draws into fixed rates, but charges $15 per draw and $50 annually in some states. Still, if you want local support or already bank with Truist, you may prefer having a branch to visit.

Is Truist a good loan company? Customer reviews

Truist holds a 3.1/5 editorial rating, which is lower than many competitors. Customer reviews are mixed.

Here’s what we found on major platforms:

Source	Customer rating	Number of reviews
Trustpilot	1.2/5	1,795
Better Business Bureau (BBB)	1.1/5	1,370
App Store	4.8/5	939.9k
Google Play	4.8/5	322k

It seems like Truist’s in-person experience varies widely by location, which is where the mix of good and bad reviews come in. If you value reliable support, you may want to compare reviews in your area or consider lenders with stronger overall satisfaction.

How to contact Truist for lending questions and issues

Got questions about your Truist HELOC? You have a few options:

• Phone: Call 844-4TRUIST (844-487-8478)
  Available Monday–Friday, 8 a.m. to 8 p.m. ET, and Saturday, 8 a.m. to 5 p.m. ET.
• Online chat: Available through your Truist online banking account
• In-person support: Visit a Truist branch near you to speak with a loan officer

You can also visit Truist’s HELOC page for more product details or to start an application.

How to apply for a Truist HELOC

You can apply for a Truist HELOC online, over the phone, or at a local branch. The application takes just a few minutes and includes a soft credit pull upfront.

Here’s what you’ll need to provide:

• Personal info (name, address, Social Security number)
• Income and employment details
• Info on your home and current mortgage
• Details on assets and debts

FAQ

Is Truist’s introductory HELOC rate worth it?

Yes, if you plan to borrow and repay within 9 months. Truist offers a 5.99% intro APR for that period, which is longer than many competitors. After that, the rate becomes variable and may rise, so it’s best for short-term needs

Can I get a Truist HELOC for a vacation home or rental?

No. Truist only allows HELOCs on owner-occupied properties like primary residences or second homes. Rentals and investment properties aren’t eligible.

Does Truist have good HELOC rates compared to other lenders?

Generally yes. Truist’s HELOC rates are often slightly below national averages, especially for borrowers with strong credit. However, some credit unions or online lenders may offer lower rates depending on your profile.

How we rated Truist’s HELOC

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 and best-for designation, recapped below.