Reviews

Truist Mortgage review: rates, terms and more

See if Truist Mortgage is the right lender for you. Our unbiased review includes details about their mortgage rates, fees, pros, and cons. Read on and find out more about this lender.

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Truist Mortgage: enjoy a rate discount and $500 off closing costs

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Truist Mortgage full review! Source: The Insider Advisor

Looking for a new lender to help you achieve homeownership? Great! Our Truist Mortgage review might help you with that.

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Truist Mortgage: how to apply

Looking to apply for the Truist Mortgage? Then you’re in the right place. Enjoy rate discounts and a simple application process.

This article will cover the main details about this lender, including terms, rates, pros, and cons. Keep reading to learn more.

Credit Score620 or higher;
Loans OfferedConventional, jumbo, FHA, VA, USDA, Doctor loan, constructions-to-permanent, rate-and-term, cash-out refinance, HELOC.
Minimum Down PaymentAs little as 3%;
APRSee terms;
TermsUp to 30-year term.

Truist Mortgage review: what you need to know

Truist Mortgage is a lender based in Charlotte, North Carolina, and was created in 2019. It delivers home loans through almost all of the U.S. Except Alaska, Arizona, and Hawaii.

This lender offers various loan products, including conventional, jumbo, and construction-to-permanent loans.

They also provide FHA, Va, and USDA options, as well as refinancing and HELOC.

Truist delivers the Doctor Loan, a special program that allows doctors to qualify for 100% financing without private mortgage insurance.

With up to 30 years of repayment terms, borrowers can choose between an adjustable and fixed-rate mortgage.

Truist delivers some great benefits to its customers. Such as rate discounts for existing customers. Also, borrowers can qualify for a $500 lender credit, which they can put toward closing costs.

Furthermore, this lender offers a variety of tools on its website. As a result, borrowers can go through their mortgages as smoothly as possible.

With a simple and fast application process, Truist can be an excellent lender for anyone looking for convenience and transparent interest rates.

Truist Mortgage main features

Multiethnic people meeting at cafe, advisor showing offer to client on laptop
Find out the main details of Truist Mortgage. Source: Adobe Stock

Now that you know how Truist Mortgage works, it is time to compare this lender’s main features before making a decision!

Below, let’s see the benefits and drawbacks of Truist Mortgage. This will help you find out whether this lender is good for you. Check it out.

Pros

  • Enjoy a variety of loan products, including construction loans and Doctor loans;
  • Qualify for a $500 lender credit to put toward closing costs;
  • This lender offers rate transparency;
  • Simple and fast application;
  • Truist delivers rate discounts for existing customers.

Cons

  • Truist might have higher than average interest rates;
  • This lender’s products are not available in Alaska, Arizona, and Hawaii;
  • Borrowers can only access customized rates after applying.

Credit score required to apply

The minimum credit score requirements will vary depending on the home loan product you’re applying for.

As a result, borrowers must have a 620 score to qualify for a conventional loan with Truist.

On the other hand, for FHA, VA, and USDA loans, they’ll also need 620. For jumbo loans, a minimum of 680 is required.

Truist Mortgage application process: how does it work?

If you’re looking for a convenient and fast application process, Truist is what you need. Borrowers can apply through their user-friendly website and access customized rates!

So keep reading if you want to learn more about how to apply for this lender. The following article will explain how it works in detail and the minimum requirements. Let’s go!

Truist logo

Truist Mortgage: how to apply

Looking to apply for the Truist Mortgage? Then you’re in the right place. Enjoy rate discounts and a simple application process.

About the author  /  Beatriz Vieira

Beatriz Vieira is a producer and copywriter who is part of the finance writer team in this portal. She has a degree in Journalism and aims to improve her bilingual writing skills. Her subjects of most significant interest are culture, finances, and self-development.

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