Yes, Truist offers a HELOC, and the closing cost deal is the part to read twice. You can have Truist advance most, if not all, of your closing costs and waive getting paid back, as long as the account stays open at least three years.
Close the line sooner and you may owe those costs back.
It’s a bank HELOC with a 10-year draw period, a fixed-rate option for parts of your line and a loan officer who works with you. It’s also only offered in 18 states and DC, and there’s no closing time listed anywhere. Below is what Truist’s HELOC page lists, the catches, and two online lenders to price at the same time.
Short version: Truist if you live in one of its states and plan to keep the line at least three years. Figure or Upstart Home Lending if you need the money sooner or live somewhere Truist doesn’t lend.
| Truist HELOC at a glance | What Truist lists |
|---|---|
| Where | Owner-occupied primary home, second home or condo in AL, AR, CA, DC, FL, GA, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA and WV. Not investment homes, mobile or manufactured homes or co-ops |
| Line amount | $10,000 to $1,000,000 |
| Rate | Variable, the Prime Rate plus a margin, from Prime + 0.25% to Prime + 6.85%. Truist’s page shows that as 7.25% to 13.85% APR right now |
| APR cap | 16% in North Carolina and 18% in most of the other states it lends in |
| Intro offer | A special variable rate for the first 9 months, as low as Prime minus 1.51%. It has an end date and needs excellent credit, so check the page |
| Closing costs | You pay them, or Truist advances most if not all and waives repayment if the line stays open at least 3 years. Offered in some states on lines of $500,000 or less |
| Other fees | Other fees from $0 to $10,000, varying by state, and a $15 setup fee on a fixed-rate option |
| Draw and repayment | 10-year draw period, then a 20-year repayment period on the variable-rate option |
| Fixed-rate option | Fixed-rate draws with terms of 5, 10, 15, 20 or 30 years, a $5,000 minimum draw and up to 5 fixed draws open at once |
| Minimum payment | 1.5% of the outstanding balance on variable-rate repayment. Interest-only is also an option |
| Home valuation | Always required: an appraisal, an evaluation or an automated valuation |
| Time to close | Not listed |
| Minimum credit score | Not listed. Excellent credit is required for the lowest rates |
Truist HELOC catches to know before you apply
1. Is your home in the right state? The list is short: 18 states and DC. The home has to be your primary residence, a second home or a condo, and a second home has to be occupied at least 14 days a year. Investment properties, mobile and manufactured homes and co-ops are out.
2. Will you keep the line three years? If you close the line within 36 months, you may have to pay back the closing costs Truist advanced. Say Truist advances $2,000 (an example, not a Truist figure) and you pay off and close the line in month 20. That $2,000 could come back to you as a bill.
Planning to sell or refinance soon? Pay the closing costs yourself or pick a different lender.
3. Which payment option fits? You can choose variable-rate repayment, interest-only or a fixed-rate repayment on a draw. On variable-rate repayment the minimum is 1.5% of your balance, so a $50,000 balance means at least $750 a month. Interest-only costs less each month but never touches the principal.
4. What happens after the intro rate? The 9-month special rate is only the start. Then the standard variable rate applies and it moves with Prime. Run your budget at a rate a point or two above today’s.
5. How strong are your equity and credit? No minimum score is listed, and credit is one factor next to equity and debt-to-income. Excellent credit is required for the lowest rates, and Truist says at least half of booked applicants who applied for the advertised rate got it. For equity, lenders typically let you borrow up to a combined 75% to 90% of your home’s value, minus your mortgage. Our home equity calculator shows where you land.
6. How long can you wait? After you apply, a representative contacts you for things like tax statements and paystubs, and a home valuation is always required. Ask the loan officer for a closing time in writing before you count on a date.
7. What are the other fees? They can run from $0 to $10,000 depending on your state. Get the full list before you sign, closing costs included.
Two online HELOCs to price next to Truist
Truist’s quote is only useful next to another one. Checking your rate with these two costs nothing and takes a few minutes, and it tells you what the bank option is really saving you.
| Lender | Credit line | Speed | Min. credit | Check your rate |
|---|---|---|---|---|
 Figure | $15K to $750K | As few as 5 days | 600 in most states | Fastest funding |
 Upstart Home Lending | $26,000 to $250,000 | As fast as 7 days3 | Starting at 600 | Online application |
 Truist | $10,000 to $1,000,000 | Not listed | Not listed | 18 states and DC |
Figure: the quicker way to a HELOC quote
Funds in as few as 5 daysFigure is the one to price first if you’re short on time. Its application is online and funding can happen in as few as 5 days. Lines under $400,000 skip the appraisal, while Truist always requires a home valuation.
Lines run from $15,000 to $750,000 and you get the full amount up front. Most states accept a 600 credit score.
- No appraisal under $400,000
- 600 credit in most states
- Lines up to $750,000
The catch: Figure’s origination fee can run up to 4.99%. On a $100,000 line that’s up to $4,990, so compare the total cost against what Truist would charge, not just the APR.
Upstart Home Lending: an online HELOC for credit starting at 600
Credit scores starting at 600Upstart Home Lending HELOCs are available for credit scores starting at 600, which makes it worth a look if you want to compare an online application against a bank’s. The application is 100% online, with no office visits.
APRs run from 6.52% to 18.00%1, lines from $26,000 to $250,000, and terms are 10 and 15 years. You get a fixed rate2 on each draw, and you could have cash sent in as fast as 7 days3.
- Credit scores starting at 600
- 100% online application
- Fixed rate2 on each draw
The catch: the origination fee is between 0% and 4.99% of the approved credit limit1, you have to draw at least 80% of the line when you open it, and the lowest APR needs credit union membership, a 780 FICO, CLTV under 70% and DTI under 45%1.
Is the three-year closing cost deal worth it?
It depends on what you’d pay otherwise. Other fees run from $0 to $10,000 depending on your state, so Truist covering your closing costs can save real money if you’re staying put.
Then look at the other side. Figure’s origination fee can run up to 4.99%, and Upstart Home Lending’s is 0% to 4.99% of the approved limit. On a $100,000 line, 4.99% is $4,990. Truist’s range is wider, so ask every lender for the full cost in dollars.
Keeping the line three years or more and not in a hurry? Truist is worth a quote. Might you pay it off early, or need cash in days? The online lenders can come out ahead.
Truist HELOC or Truist home equity loan?
Truist sells both, and they fit different jobs. The HELOC is a line you draw on as you go. The home equity loan hands you one lump sum at a fixed rate.
| Truist home equity options | HELOC | Home equity loan |
|---|---|---|
| Amount | $10,000 to $1,000,000 | $25,000 to $500,000 |
| Lien position | First or second | Second |
| Closing costs | Paid by you or by Truist | Paid by Truist |
| Terms | Variable: 10-year draw, 20-year repayment. Fixed draws: 5 to 30 years | Fixed: 5 to 30 years |
| Best for | Ongoing or phased costs, like a renovation done in stages | One-time costs, like a single project or paying off cards |
If you know the exact amount you need and you want a payment that never changes, the loan is simpler. If the cost arrives in pieces, the HELOC means you only pay interest on what you’ve drawn.
How Truist’s fixed-rate option works
A HELOC is variable by default, but Truist lets you lock part of the line. You can set up a fixed-rate draw with a term of 5, 10, 15, 20 or 30 years, you need to draw at least $5,000 for it, and you can have up to five of them open at once. There’s a $15 setup fee on each fixed option.
That matters because a fixed draw takes that slice out of the Prime Rate’s reach. The rest of the line stays variable. Fixed-rate draws are priced on your credit, the amount and the term, and they won’t match your variable rate or the intro rate, so ask for both numbers side by side.
Is the Truist HELOC right for you?
Keep reading
Questions about the Truist HELOC
Does Truist offer a HELOC?
Yes. Lines run from $10,000 to $1,000,000 at a variable rate based on the Prime Rate plus a margin, with an option to fix the rate on all or part of your line.
Which states can you get a Truist HELOC in?
AL, AR, CA, DC, FL, GA, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA and WV. Anywhere else, Figure and Upstart Home Lending are online options to price.
What credit score do you need for a Truist HELOC?
No minimum is listed. Credit is one of several factors, and excellent credit is required for the lowest rates. With a lower score, Upstart Home Lending and Figure accept credit scores starting at 600 (Figure in most states).
Does Truist charge closing costs on a HELOC?
You can pay them, or you can have Truist advance most, if not all, of them and waive reimbursement as long as the account stays open at least three years. Other fees from $0 to $10,000 may also apply, depending on your state.
Does a Truist HELOC need an appraisal?
A home valuation is always required, but the method depends on the request: an appraisal, an evaluation or an automated valuation. To skip the in-person appraisal, Figure says there’s none on lines under $400,000.
How are Truist HELOC payments figured?
During the draw period you pick variable-rate repayment, interest-only or fixed-rate repayment. Variable-rate repayment has a minimum of 1.5% of the outstanding balance. Interest-only payments don’t reduce your principal.
How long is the draw period on a Truist HELOC?
10 years on the variable-rate HELOC, followed by a 20-year repayment period. Your payment can change when the draw period ends.
How soon after buying a home can you get a Truist HELOC?
Possibly soon after, if you have enough equity and meet the other requirements. Truist may use the appraised value or the purchase price, whichever is lower, to figure your equity.
Is a Truist home equity loan the same as a HELOC?
No. A HELOC is a line of credit you draw from as you need it. Truist’s home equity loan is a fixed-rate lump sum, listed at $25,000 to $500,000 on its comparison page. Truist offers both.
Upstart Mortgage, LLC dba Upstart Home Lending. NMLS #2443873. Equal Housing Opportunity.
1Terms shown here are subject to change without notice. APRs for initial advances range from 6.52% to 18.00% based on rates offered as of June 2026. The lowest rate is only available to consumers willing to become a member of a credit union and to those who meet a minimum FICO score of 780, CLTV under 70%, and DTI under 45%. Your actual rate will depend on many factors such as your credit history, combined loan-to-value ratio (CLTV), line amount, loan term, lien position, and property state. Origination fee to open an account is between 0% and 4.99% of the approved credit limit. The Annual Percentage Rate (“APR”) is variable and based on the Prime Rate as published in the Wall Street Journal “Money Rates” table plus or minus a margin. Your APR will never be less than 3.99% or greater than 18.00%. Property insurance is required.
2A Home Equity Line of Credit has a variable rate. The APR may change, but the APR that will apply to each draw will be fixed on the date the draw is made. Your APR will be the Prime Rate at the time of draw plus a margin fixed for the life of the HELOC.
3In Q2 2026, 15% of funded HELOCs achieved a closing timeline of 2 days or less and a funding timeline of 7 days or less. This timeline assumes consumers close with our remote online notary, provide supporting documentation promptly, and ensure the information provided is accurate and consistent with our verification process. Delays, discrepancies, and other unforeseen factors may impact the closing timeline.
