Truist Mortgage Review 2026
Truist offers conventional and some government-backed loans, plus options for taking advantage of the value of your current home. You can also find out current mortgage rates online, including rate discounts for qualifying Truist customers.
See how we reached our verdict below.
- Rates published on Truist website
- Physical branches available for those borrowers who prefer in-person service
- Loan programs available for medical professionals
- May be difficult to see if mortgage products are available in your area online
- Inability to see personalized rates without preapproval
- Branches only available in 17 states and the District of Columbia.
Truist mortgage overview
Truist was founded after the 2019 merger between Suntrust and BB&T banks. The bank is headquartered in Charlotte, N.C.
- Areas of service: Digital services available nationwide
- Digital service: Online lender providing digital mortgages, with physical branches in 17 states and the District of Columbia
- Headquarters: 214 N. Tryon St, Suite 3, Charlotte, NC 28202
- Website: Truist.com
Truist rates and fees
Rates
Truist publishes current rates online for several of its loan offerings, but you’ll need to get preapproved to see rates customized to your financial profile and location.
Truist’s average mortgage rate in 2024 was 0.8 percentage points above the average prime offer rate (APOR), which is what a lender would charge a typical well-qualified borrower. This is slightly higher than average compared to other lenders we reviewed.
The bank’s rates became slightly less competitive in 2024, as this rate spread increased from 0.71 percentage points in 2023.
Fees
Truist doesn’t disclose information about its fees online, so you’ll need to contact the lender for more details.
According to data from the Federal Financial Institutions Examination Council (FFIEC), the average total cost for taking out a Truist mortgage was $5,795 in 2024. This amount includes charges like origination, appraisal and other fees. By comparison, among the lenders we reviewed the average loan costs were $6,861.
Truist offers rate discounts for existing customers who meet specific requirements for its deposit and investment accounts.
Truist also offers special pricing for doctors. Its Doctor Loan program provides mortgages with up to 100% financing and no mortgage insurance to qualified physicians and other medical professionals who have recently graduated.
What types of mortgage loans does Truist offer?
Truist offers a variety of home loans including:
Truist’s conventional loan offerings include fixed-rate mortgages, adjustable-rate mortgages (ARMs), rate-and-term refinancing and cash-out refinancing.
Conventional loan qualification requirements
- Meet minimum credit score requirements
- Minimum 3% down payment
Truist offers loans backed by the Federal Housing Administration (FHA), including purchase and refinance loans.
FHA loan qualification requirements
- Minimum 600 credit score
- Minimum down payment as low as 3.5%
Truist offers loans backed by the U.S. Department of Veterans Affairs (VA) — including purchase, VA cash-out refinance, interest-rate reduction (IRRRL) and jumbo VA loans — available to veterans, service members and surviving spouses. These loans have no down payment or private mortgage insurance (PMI) requirements, and they typically offer lower interest rates.
VA loan qualification requirements
- Typically, no down payment is required for eligible borrowers
- Minimum 640 credit score
- Must obtain certificate of eligibility (COE)
Truist’s jumbo loans are available at fixed rates for up to 30 years for home purchase or refinance and allow borrowers to buy a home with a mortgage amount that exceeds Federal Housing Finance Agency limits.
Jumbo loan qualification requirements
- Loan amounts up to $3 million
- Credit score and loan-to-value (LTV) minimums not specified
Truist offers home equity lines of credit (HELOCs), which are available with a draw period of 10 years and a repayment period of up to 20 years. You will need to contact Truist to find out about any fixed- or variable-rate options.
HELOC qualification requirements
- Minimum $5,000 draw amount
- Fixed-rate options available and come with a $15 fixed option set up fee
- Must meet appraisal requirements based on the home’s value
Truist mortgage qualifications
| Credit score minimum | 600 to 640 |
| DTI ratio
Debt-to-income (DTI) ratio compares your monthly gross income to your monthly debt payments.
| Conventional: Not specifiedFHA: 43%VA: 41% |
| Down payment minimum | Conventional: 3%FHA: 3.5%VA: 0% |
Don’t know your credit score? Get your free score on LendingTree Spring today.
Truist doesn’t disclose the exact minimum requirements it uses to approve or deny your application.
However, HMDA data for 2024 shows:
- The average home purchase loan that Truist approved had a loan-to-value (LTV) ratio of 61.3%.
- Among customers approved for a mortgage, 13.2% of them had a debt-to-income (DTI) ratio below 40%.
- Truist denied 47.4% of applications, much higher than its competitors. Some other large lenders have denial rates in the low teens up through the mid-thirties.
How to apply for a Truist mortgage
1. Choose your loan type
From the Truist.com homepage, navigate to the “Mortgage” tab and select “Buy a home” or “Refinance.”
2. Get prequalified
Select the button labeled “Get preapproved.” You’ll need to supply some financial and personal information, like your name, address and the loan options you are looking for. Submitting this form means that someone from the Truist team will reach out. As an alternative, click on the “Apply now” button to submit your details to get a loan estimate online.
3. Submit a loan application
You’ll work with a Truist loan officer to submit necessary documents to lock in your mortgage rate for the preapproval. You can then use the preapproval letter to tour homes and put in a purchase offer.
Find out more about how to apply for a home loan.
- Identification
- Tax documents
- Bank statement
- Pay stubs
- Debt and asset statements
- Gift letters (if you’re using gifted funds)
Is it safe to get prequalified with Truist?
Yes, it’s safe to get preapproved with Truist — it is one of the largest commercial banks in the U.S. You may need a hard credit pull, which could lead to a small and temporary drop in your credit score.
But despite the potential credit score impact, it’s best to get preapproved before you start shopping for homes to ensure that sellers will take your offer seriously. Plus, your real estate agent might not be willing to show you homes if you don’t have a preapproval letter.
Truist’s customer service experience
You can contact Truist’s general line Monday through Friday 8 a.m. to 8 p.m. EST and Saturday 8 a.m. to 5 p.m. EST.
- General information: 844-487-8478
Truist also has several mortgage-specific phone numbers, depending on where your are in the mortgage process:
- Mortgage application: 800-634-7928 (Monday through Friday 8 a.m. to 8 p.m ET/Saturday 9 a.m. to 3 p.m. ET)
- Mortgage professional: 855-445-0999
- Existing mortgage management: 855-257-4040
You can also schedule an appointment with a mortgage adviser from the “Contact” page online. However, unlike some other banks, Truist doesn’t offer a live chat option on its website.
How does Truist compare to other lenders?
|  |  |
|
| LendingTree’s rating |
Expert review from LendingTree.
Back to our Truist summary |
Expert review from LendingTree.
Read our Truist vs. Fairway Independent comparison |
Expert review from LendingTree.
Read our Truist vs. TD Bank comparison |
| Minimum credit score | 600 to 640 | 500 to 620 | 620 |
| Minimum down payment | 0% to 3.5% | 0% to 10% | 0% to 3.5% |
| Rate spread
Rate spread is the difference between the average prime offer rate (APOR) — the lowest APR a bank is likely to offer any private customer — and the average annual percentage rate (APR) the lender offered to mortgage customers in 2024. The higher the number, the more expensive the loan.
| 0.80% | 0.46% | 0.93% |
| Loan products and programs |
|
|
|
| Better for: | Truist customers who can qualify for rate discounts and borrowers who prefer to apply in person, particularly if they live in the Northeast or South. | Homebuyers seeking more specialized loan options, including renovation loans and reverse mortgages. | Homeowners who want to tap into their home equity using a home equity loan and access rate discounts. |
Truist vs. Fairway Independent
Truist and Fairway each offer a similar package of mortgage options, but Fairway offers additional options like USDA, renovation and reverse mortgage loans. Truist has locations mostly in the Northeast and South, while Fairway has locations in virtually every state (as well as the District of Columbia), including in the West and Midwest.
Read more in our full Fairway Independent mortgage review.
Truist vs. TD Bank
Truist and TD Bank are both large financial institutions offering in-person locations and digital loan options, though both of these banks each only operate in a select number of states. Notably, TD Bank does offer an autopay discount.
Read more in our full TD Bank mortgage review.
How LendingTree rated Truist Mortgage
LendingTree’s mortgage lender rating is based on a five-point scoring system that factors in several features, including digital application processes, available loan products and the accessibility of product and lending information.
LendingTree’s editorial team calculates each rating based on a review of information available on the lender’s website. Lenders receive a half-point on the “offers standard mortgage products” criterion if they offer only two of the three standard loan programs (conventional, FHA and VA). In some cases, additional information was provided by a lender representative.
Truist’s scorecard:
⭕ Publishes rates online
✅ Offers standard mortgage products
✅ Includes detailed product info online
✅ Shares resources about mortgage lending
✅ Provides an online application
Frequently asked questions
Truist allows you to apply for a mortgage and get approved online. You can also look at current mortgage rates, including APR and points for some of its loan offerings.
Truist is a legitimate mortgage lender that operates online and with in-person branches.
You can view more info about Truist’s state licenses and registrations through the Nationwide Multistate Licensing System and Registry (NMLS) website.
The preapproval process will likely affect your credit score, since it initiates a hard inquiry on your credit report. Taking out a mortgage also affects your credit. In most cases, your score is likely to drop by only about 20 points on average and rebound fully within a year, according to LendingTree’s credit score study.
Truist offers a wide variety of loans for most types of home buyers and opportunities for interest rate discounts, which could help save on costs. However, service isn’t available nationwide.
The bank has a rating of about 1 out of 5 stars with the Better Business Bureau, according to more than 1,100 reviews. On Trustpilot, Truist receives about 1 out of 5 stars across more than 1,800 reviews.
This means that the majority of customers who left reviews on these sites were dissatisfied with the service they received — though most of the reviews weren’t specific to Truist’s mortgages. Of customers who left critical reviews, one common theme was frustration with communication, delays in fund transfers and fraud-related alerts for their banking products.
View mortgage loan offers from up to 5 lenders in minutes