Ask Rocky
Truist HELOC rates float with the Wall Street Journal Prime Rate. The standard margin runs from Prime plus 0.25% to Prime plus 6.85%, and the APR is capped at 18% in most of the states Truist lends in (16% in North Carolina). The part to read twice is the closing costs. Truist can advance most of them, if not all, and let you skip paying them back, as long as the line stays open at least three years.
So is it worth a quote? If your home is in one of Truist’s states and you’ll keep the line a while, yes. If you might sell or refinance in the next few years, or you live somewhere Truist doesn’t lend, price Figure first. A HELOC from Upstart Home Lending is the second quote to have if your credit score is in the 600s.
- Lines from $15,000 to $750,000
- Check your rate with a soft credit pull. The full application is a hard pull
- No appraisal on lines under $400,000
- Credit scores of 600 accepted in most states
- Funding in as few as 5 days
- You draw the full amount at closing, with an origination fee of up to 4.99%
Our take: Truist’s deal is built for people who stay put. You get a long draw period, a fixed-rate option for part of the line and closing costs that can be covered. It gets expensive if you close the line inside three years. Truist also doesn’t list a minimum credit score or a closing time, so you can’t line it up against another lender until you apply. Get one quote somewhere else first.
Truist vs. Figure vs. Upstart Home Lending, side by side
Here’s how the three stack up on what you’d actually care about. Truist is the only one that can cover your closing costs. It’s also the only one that won’t tell you how fast it closes.
| What to compare | Figure HELOC | HELOC from Upstart Home Lending | Truist HELOC |
|---|---|---|---|
| Line amount | $15,000 to $750,000 | $26,000 to $250,000 | $10,000 to $1,000,000 |
| Rate | See yours with a soft pull | 6.52% to 18.00%1 | Variable, Prime plus 0.25% to Prime plus 6.85%. Capped at 18% in most of its states, 16% in North Carolina |
| How you draw | The full line at closing | At least 80% of the line at closing, with a fixed rate2 on each draw | As needed for 10 years, then 20 years to repay. Part of the line can be fixed |
| Opening cost | Origination fee of up to 4.99% | Origination fee of 0% to 4.99% of the approved credit limit1 | Closing costs paid by you, or advanced by Truist. Other fees from $0 to $10,000 by state |
| Closing it early | Check your agreement | Check your agreement | Inside 36 months you may owe back the closing costs Truist advanced |
| Speed | As few as 5 days | As fast as 7 days3 | Not listed |
| Credit score | 600 in most states | Starting at 600 | Not listed. Excellent credit for the lowest rates |
Truist figures are from Truist’s HELOC page. Figure figures are from Figure’s site. Upstart Home Lending terms are in the footnotes at the bottom of the page. Terms change, so check each lender before you apply.
How Truist sets its HELOC rate
Truist’s HELOC rate is variable. It’s the Prime Rate as printed in the Wall Street Journal plus a margin, and the margin is where you get sorted.
Truist’s standard margin runs from Prime plus 0.25% to Prime plus 6.85%. That’s a 6.6 point spread. On a $50,000 balance, every point of APR is $500 a year, so the best margin and the worst one are $3,300 a year apart.
What decides where you land? Truist says the rate depends on your credit, the line amount, your combined loan-to-value ratio and where the home is. Excellent credit is required for the lowest rates, and Truist adds that at least half of the people who booked a line after applying for the advertised rate got it. Read that as a warning that the headline rate isn’t a promise.
The ceiling is 18% in most of the states Truist lends in and 16% in North Carolina. On $50,000 at 18%, that’s $9,000 a year in interest, or $750 a month if you only pay interest. You probably won’t see it. But a cap tells you what the worst year looks like.
Today’s actual range is printed at the top of Truist’s HELOC page, and it moves with Prime. Look there the day you apply.
Get a number to hold Truist’s quote against. Figure checks your rate with a soft credit pull.
The Truist HELOC closing cost deal, and the 3-year catch
This is the reason people look at Truist. You can pay your closing costs, or you can have Truist advance most of them, if not all, and waive getting paid back as long as the account stays open at least three years.
It’s not available everywhere. Truist offers it in some states, on lines of $500,000 or less. And it’s “most, if not all,” so ask what the dollar figure is before you assume it’s zero.
Now the catch. Close the line within 36 months of opening it and Truist may require you to pay back the closing costs it covered. That includes a payoff because you sold the house or refinanced.
Other fees can show up too. Truist lists them from $0 to $10,000, depending on your state. Ask for the full list in writing, closing costs included.
Worked example: closing a Truist line in month 20
Say Truist advances $3,000 of closing costs on your line. That’s a made up number to show the math, not a Truist figure. You draw some money, then sell the house in month 20 and close the line.
Because that’s inside 36 months, you may be asked to pay the $3,000 back.
| If you close the line | What happens to the $3,000 |
|---|---|
| In month 20 | Truist may require you to pay it back |
| In month 35 | Same, you’re still inside 36 months |
| In month 37 | Past the 36 months, so no repayment of the closing costs |
Illustrative only. Your closing costs depend on your state, your line and your home. Ask Truist for your actual number.
Wait two more months and that bill is gone. If there’s any chance you’ll move or refinance in the first three years, either pay the closing costs yourself or compare a lender that doesn’t tie you down.
Every Truist HELOC cost, in one place
Here’s what Truist lists. It’s shorter than a lot of banks’ lists, partly because the biggest item is the one it can cover.
| Cost | Amount | When it applies |
|---|---|---|
| Closing costs | Varies | You pay them, or Truist advances most if not all. Offered in some states on lines of $500,000 or less |
| Other fees | $0 to $10,000 | At origination, at closing or after closing. Varies by state |
| Repaying advanced closing costs | The costs Truist paid | If you close the line within 36 months of opening it |
| Fixed-rate setup fee | $15 | On a fixed-rate option |
| Home valuation | Always required | An appraisal, an evaluation or an automated valuation, depending on your request |
From Truist’s HELOC page. Fees and terms can change, so check Truist’s current terms before you apply.
Notice what’s not on it. Truist doesn’t list an annual fee or an origination percentage on that page. That’s not the same as saying there isn’t one, so ask.
For comparison, Figure charges an origination fee of up to 4.99%. On a $100,000 line that’s up to $4,990. If Truist covers your closing costs and you keep the line three years, Truist can come out cheaper. If you don’t, it might not.
What the payments look like
During the 10-year draw period you pick how you pay. Variable-rate repayment has a minimum of 1.5% of your outstanding balance, so a $50,000 balance means at least $750 a month. Interest-only costs less each month, but it never touches the principal.
Then the 20-year repayment period starts. The rate stays variable, and your minimum becomes 1/240th of the balance at the end of the draw period, plus interest and any fees. On $50,000 that’s about $208 a month of principal before interest.
So the payment jumps if you’ve been paying interest only. Plan for that before you pick it.
Want to see your own numbers? Try our HELOC payment calculator.
Truist’s fixed-rate option
A Truist HELOC is variable by default, but you can lock part of it. The fixed terms are 5, 10, 15, 20 or 30 years. You need to draw at least $5,000 for a fixed piece, you can have up to five fixed draws open at once and there’s a $15 setup fee on the option.
Fixed pieces are priced on your credit, the amount and the term. They won’t match your variable rate. Ask Truist for both numbers side by side, and whether you can add a fixed draw after closing or only with your first draw.
If locking is the whole point for you, see our guide on how to convert a HELOC to a fixed rate.
Who can get a Truist HELOC
Location is the first filter. Truist lends in 18 states and DC: AL, AR, CA, DC, FL, GA, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA and WV.
The home has to be your primary residence, a second home or a condo. Investment homes, mobile or manufactured homes and co-ops are out. A second home has to be occupied at least 14 days a year, and Truist limits you to one HELOC per individual or joint borrower. It can take a first or second lien position.
Credit is the open question. Truist lists no minimum score, so it’s one factor next to equity and debt. If you buy a home and want a line soon after, Truist may use the lower of the appraised value or your purchase price to work out your equity.
If you’re not sure where you stand, read our guide to HELOC credit score requirements.
Truist HELOC vs. 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 is one lump sum at a fixed rate.
| 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 | Costs that come in pieces | A single, known cost |
From Truist’s comparison page.
Know the exact amount and want a payment that never moves? The loan is simpler. If the bills arrive over months, the HELOC means you pay interest only on what you’ve drawn.
Where else to get a HELOC quote
Neither of these can match Truist’s closing cost offer, and that’s the honest trade. Both give you a number faster. To compare more banks, see how TD Bank’s HELOC rates and Rocket Mortgage’s home equity rates work, or browse every option in our home equity guides.
Figure
Figure is the quote to get first. You check your rate with a soft credit pull, and a full application is a hard pull. Lines run from $15,000 to $750,000, there’s no appraisal under $400,000 and most states accept a 600 credit score.
Funding can happen in as few as 5 days. You draw the whole line at closing and pay an origination fee of up to 4.99%, so borrow what you need and not what you’re offered.
Our Figure HELOC review covers the rest.
Check your rate at Figure. The rate check won’t affect your credit score.
HELOC from Upstart Home Lending
Upstart Home Lending is worth pricing if your score is in the 600s. Its HELOCs are available for credit scores starting at 600, and the application is 100% online.
APRs run 6.52% to 18.00%1 on lines from $26,000 to $250,000, with 10 and 15 year terms. You get a fixed rate2 on each draw, and you could have cash in as fast as 7 days3.
Two rules to know. You have to draw at least 80% of the line when you open it, and the lowest APR is available only to borrowers who meet specific conditions1. Our Upstart Home Lending review goes through the costs.
See if you could qualify with Upstart Home Lending. It takes a few minutes online.
Who should pick which
Truist fits if you live in one of its states, you’ll keep the line at least three years and you’d like the bank to cover your closing costs.
Figure fits if you want a rate before a hard pull, you need money soon or you don’t live where Truist lends.
Upstart Home Lending fits if your credit score is in the 600s and you’ll use at least 80% of the line.
Not sure? Get the Figure quote first. It costs nothing to look, and it gives you a number to hold Truist’s against.
Figure could make sense if you might close the line in under three years, you’re outside Truist’s states or you want to see a rate before a hard credit pull.
Truist HELOC questions, answered
Yes. Lines run from $10,000 to $1,000,000 at a variable rate based on the Prime Rate plus a margin, with a 10-year draw period and a 20-year repayment period. You can fix the rate on part of the line.
The standard margin runs from Prime plus 0.25% to Prime plus 6.85%. The APR is capped at 18% in most of the states Truist lends in and 16% in North Carolina. Truist shows today’s range on its HELOC page. For a number to compare, Figure, checks your rate with a soft pull.
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. Close the line inside 36 months and you may have to pay them back. Other fees from $0 to $10,000 can 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. Anywhere else, Figure and Upstart Home Lending are online options to price.
Truist doesn’t list a minimum. Credit is one of several factors, and excellent credit is required for the lowest rates. With a lower score, Upstart Home Lending HELOCs are available for credit scores starting at 600, and Figure accepts 600 in most states.
During the draw period you can choose variable-rate repayment, interest-only or fixed-rate repayment on a draw. Variable-rate repayment has a minimum of 1.5% of the outstanding balance. Interest-only payments don’t reduce your principal.
Yes. You can fix part of the line with terms of 5, 10, 15, 20 or 30 years, a $5,000 minimum draw and up to five fixed draws open at once. There’s a $15 setup fee.
Start with Figure. It checks your rate with a soft pull and could fund in as few as 5 days, though you draw the full line at closing. Then get a quote from Upstart Home Lending, especially if your score is in the 600s.
Get a second number before you sign.
Truist’s closing cost deal is only worth it next to another quote. These let you start online.
$26,000 to $250,000, with 10 and 15 year terms and credit scores starting at 600.
Keep reading
1 Upstart Home Lending: 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.
Upstart Mortgage, LLC dba Upstart Home Lending. NMLS #2443873. Equal Housing Opportunity.
Truist terms come from Truist’s HELOC page. Terms, pricing and availability change. Check the current terms with each lender before you apply.