Truist Bank Home Equity Line of Credit

When you want low-interest financing for a significant amount, you can opt for Truist Bank's home equity line of credit. It's easy to obtain, lets you take out what you need, and you can deduct the interest from taxes when you use it for home improvements.

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Purpose
For financiate: Any expense or investment
Destiny: Free investment
Advantages: Available in various states and adaptable conditions.
Interest
Interest: Adjustable, from Prime + 1.45% to Prime + 6%
APR: 7.70%
Limits
Minimum of years: 5 years
Maximum years: 20 years
Minimum financing: Consult
Maximum funding: Consult
Maximum percentage: Consult
Commissions
Investigation commission: Consult
Opening commission: Consult
Commission for advance payment: Consult
Commission for surrogacy: Consult

More information of Home equity line of credit

You can apply for Truist Bank's home equity line of credit by owning a primary or secondary residence (occupied at least 14 days per year) in states where the bank has a presence, such as Arizona, California, Florida, Georgia, Pennsylvania, Texas or Virginia.

Investment properties, co-ops or mobile/manufactured homes do not apply and there is a limit of one Heloc per applicant.

HELOC Truist BankHere is the information you must provide:

  • Debts (lender, payment amount and balances).
  • Employer or co-applicant information (if applicable)
  • Personal information (name, address, phone and SSN)
  • Financial assets (description, lender and value)
  • Collateral information (asset, lender name, balance/value and description)

Regarding repayment, you have 3 options:

  • Fixed. The rate and installments will depend on the term you choose and has a $15 service fee.
  • Adjustable. The monthly payment would be 1.5% of your balance and the APR varies depending on the prime rate published in the WSJ.
  • Interest-only. You pay the interest calculated on the balance, the minimum payments do not reduce the principal and it has a variable rate.

Truist Bank's home equity line of credit may be the low-cost financing you need to get ahead. Since there are many HELOCs, Busconómico has gathered many reviews of the best ones, like the Bank of America Heloc.

Español: Línea de crédito hipotecaria de Truist Bank