A Truist HELOC comes with a closing cost deal most banks don’t match. Truist can advance most of your closing costs, if not all, and never ask for them back if the line stays open at least three years. Close it sooner and the bill may come back to you.
The rest is a standard bank line: a variable rate tied to Prime, a 10-year draw period and a fixed-rate option for part of what you borrow. It’s only offered in 18 states and DC. Not in one of them, or not sure you’ll keep the line three years? Check Figure first, since a rate check there is a soft credit pull. Upstart Home Lending is the second quote worth having, and its HELOC is available for credit scores starting at 600.
- A rate check is a soft credit pull
- $15,000 to $750,000 in credit
- No appraisal on lines under $400,000
- 600 credit scores accepted in most states
- Money can land in as few as 5 days
- You take the whole line at closing, and origination can run up to 4.99%
Truist HELOC vs. Figure vs. Upstart Home Lending
Three lines of credit, side by side. The two online ones come first because you can price them in a few minutes.
| Lender | How you get the money | Amount | Rate | Cost to open and keep |
|---|---|---|---|---|
| Figure HELOC | All of it at closing | $15,000 to $750,000 | Check yours with a soft pull | Up to 4.99% origination |
| Upstart Home Lending HELOC | At least 80% of the line up front, fixed rate2 on each draw | $26,000 to $250,000 | 6.52% to 18.00% APR1 | Origination of 0% to 4.99% of the approved limit1 |
| Truist HELOC | Draw as you need it for 10 years, then repay over 20 | $10,000 to $1,000,000 | Variable. Prime plus 0.25% to Prime plus 6.85%, capped at 18% in most states | Closing costs paid by you or advanced by Truist. Other fees $0 to $10,000 |
Truist terms come from Truist’s HELOC page. Figure terms come from Figure’s site. Upstart Home Lending terms are in the disclosures at the bottom. Check each lender for current numbers.
The Truist HELOC
Here’s what Truist puts on the page, trimmed to the stuff that changes what you’d pay or whether you’d qualify.
| Truist HELOC | What Truist says |
|---|---|
| Line size | $10,000 to $1,000,000 |
| Rate | Variable, the Prime Rate plus a margin from 0.25% to 6.85% |
| Rate cap | 16% in North Carolina and 18% in most of the other states it lends in |
| Draw period | 10 years, then a 20-year repayment period on the variable-rate option |
| Minimum payment | 1.5% of the outstanding balance on variable-rate repayment. Interest-only is also an option |
| Fixed option | Terms of 5, 10, 15, 20 or 30 years, a $5,000 minimum draw, up to five fixed draws open at once and a $15 setup fee |
| Closing costs | You pay them, or Truist advances most if not all and waives repayment if the line stays open at least 3 years |
| Other fees | $0 to $10,000, depending on your state |
| Home valuation | Always required: an appraisal, an evaluation or an automated valuation |
| Credit score | No minimum listed. Excellent credit is required for the lowest rates |
| Time to close | Not listed |
What’s missing? A single number for the rate. Truist prints today’s range on its HELOC page and it moves with Prime, so pull it up the day you apply. Also, Truist says at least half of the people it booked after they applied for the advertised rate got it. The lowest rate isn’t guaranteed.
How the closing cost deal works
Quick version: Truist can pay most of your closing costs and let you off the hook, if the line stays open 36 months. Close early and you may owe them. It’s offered in some states, on lines of $500,000 or less.
This is the best thing about the Truist line, and it’s easy to misread. Truist says it can advance “most, if not all” of the closing costs. So don’t assume zero. Ask for the dollar figure.
The three years matter more than the headline. If you plan to sell, refinance or pay it all off and walk away inside 36 months, the savings can flip into a bill. Keep it three years or longer and you keep the deal.
Think about the line you’d really use. A remodel done in stages or a few years of tuition fits well. A bridge loan until the house sells doesn’t.
More: TD Bank HELOC vs. home equity loan: fees and what to pick
The catches with a Truist HELOC
Read this before you apply
- The three-year clock. Close the line within 36 months and you may have to pay back the closing costs Truist advanced.
- 18 states and DC only. Plus the home has to be your primary home, a second home or a condo.
- No investment homes. Mobile and manufactured homes and co-ops are out too.
- The rate isn’t fixed. It moves with Prime, up to 18% in most states and 16% in North Carolina.
- Payments grow. After 10 years your minimum becomes 1/240th of the balance plus interest.
- No timeline. Truist doesn’t list how long it takes to close.
Where it’s a good deal
- Closing costs can be covered. That’s real money on a smaller line.
- Big lines. Up to $1,000,000.
- Part of it can be fixed. Five terms from 5 to 30 years.
What closing a Truist line early really costs
Say Truist advances $2,500 of closing costs on your line. That’s an example to show the math, not a Truist figure. You borrow, then pay it all off and close the line in month 14 because you’re moving.
| Closing in month 14 | What can happen |
|---|---|
| Closing costs Truist advanced | $2,500 (example) |
| Inside 36 months? | Yes, so Truist may require you to repay them |
| Your cost for closing early | Up to the full $2,500 |
| Same payoff in month 37 | No repayment of the closing costs |
The amount depends on your state and line. Ask Truist for your actual closing costs before you decide.
Bottom line: a closing cost deal with a three-year string. Pick it if you’re staying put.
Moving soon? Get a number from Figure on what you actually need. It won’t hit your score.
Where you can get one: states and homes
Truist lends in AL, AR, CA, DC, FL, GA, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA and WV.
A second home has to be occupied at least 14 days a year, and there’s a limit of one Truist HELOC per person or joint borrower. Truist can take a first or second lien position.
Buying a home and want a line soon after? Truist says that can work if you have enough equity. It may use the appraised value or your purchase price, whichever is lower.
Truist HELOC or Truist home equity loan?
Truist sells both. The HELOC is a line you draw from, $10,000 to $1,000,000, with closing costs paid by you or by Truist. The home equity loan is one lump sum, $25,000 to $500,000, fixed for 5 to 30 years, with closing costs paid by Truist.
Spending in pieces? The line fits. Know the exact number today and want one payment that never moves? The loan does.
More: Rocket Mortgage HELOC: why Rocket only sells the fixed loan
Figure: the HELOC to price if Truist doesn’t fit
Figure is the quick one. A soft pull shows you a rate without hurting your credit. Only the full application is a hard pull.
Lines run from $15,000 to $750,000 with no appraisal under $400,000, and most states accept a 600 credit score. Funding can happen in as few as 5 days.
The trade-off against Truist: you take the whole line at closing, so you pay interest on all of it from day one. And origination can run up to 4.99%, which is $4,990 on a $100,000 line.
More: Our full Figure HELOC review
Grab a quote from Figure, then put it next to Truist’s.
Upstart Home Lending: the second quote
Credit in the 600s? Upstart Home Lending is worth a look. Its HELOC is available for credit scores starting at 600, and the application is 100% online.
Lines run $26,000 to $250,000 with 10 and 15 year terms, at 6.52% to 18.00% APR1. You get a fixed rate2 on each draw, and cash can arrive in as fast as 7 days3. The lowest APR is available only to borrowers who meet specific conditions.
Know this first: you have to draw at least 80% of your Upstart Home Lending line when you open it. A Truist line lets you draw as you go, so borrow less than you’re offered.
More: Read the Upstart Home Lending HELOC review
Check whether Upstart Home Lending could approve you for a HELOC.
Who should pick which
Truist fits if you live in one of its states, you’re staying put for three years or more and you’d like the closing costs covered.
Figure fits if you might move soon, you live outside Truist’s states or you’d like a real rate before a hard pull.
Upstart Home Lending fits if your score is in the 600s, or you want one more quote to hold up against the bank’s.
Maybe a monthly payment is the problem. There are equity deals with no payment at all, where you give up a share of your home’s value instead. Read HEI vs HELOC first, or dig through the home equity guides.
Truist HELOC: the bottom line
Truist has a Prime-based line from $10,000 to $1,000,000 with a closing cost deal that rewards staying three years. It’s limited to 18 states and DC and doesn’t post a closing time or a minimum score.
Keeping the line three years or more? Truist is worth a quote. Not sure, or outside its states? Get a Figure number first.
Figure could make sense if you might close the line within three years, you live outside Truist’s states, or you’d like a quote that won’t touch your credit score.
Truist HELOC FAQ
Yes. Lines run from $10,000 to $1,000,000 at a variable rate based on the Prime Rate plus a margin. You get a 10-year draw period and then a 20-year repayment period, and you can fix the rate on part of the line.
The standard margin runs from Prime plus 0.25% to Prime plus 6.85%, capped at 18% in most of Truist’s states and 16% in North Carolina. Truist shows today’s range on its HELOC page. Want a number to compare? Figure checks your rate with a soft pull.
You can pay them, or have Truist advance most, if not all, of them and waive reimbursement as long as the account stays open at least three years. Close within 36 months and you may have to pay them back. Other fees from $0 to $10,000 may apply, depending on your state.
AL, AR, CA, DC, FL, GA, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA and WV. In any other state, compare Figure and Upstart Home Lending.
Truist doesn’t list a minimum score. Credit is one factor, and excellent credit is required for the lowest rates. Upstart Home Lending is available for credit scores starting at 600, and Figure accepts 600 in most states.
Yes, on all or part of the line. Fixed terms are 5, 10, 15, 20 or 30 years, with a $5,000 minimum draw, up to five fixed draws open at once and a $15 setup fee.
If Truist doesn’t fit, Figure is quick to price. The rate check is a soft pull and money can arrive in as few as 5 days. Upstart Home Lending is a good second look, with HELOCs from $26,000 to $250,000 and 10 and 15 year terms.
Upstart Home Lending disclosures
Upstart Mortgage, LLC dba Upstart Home Lending. NMLS #2443873. Equal Housing Opportunity.
1 Terms 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.
2 A 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.
3 In 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.
Get a second number first.
Truist’s deal only pays off next to another quote. Two HELOCs to price before you apply.
$26,000 to $250,000 with 10 and 15 year terms. Available for credit scores starting at 600.
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