Reviews

Truist Mortgage Review: Empowering Home Ownership Dreams

Truist Mortgage: Low down payments, wide loan options, and proprietary grants.

Rickie C. Keys, Ph.D., MPH

17 Mar 2024 — 1 min read

Features

Low Down Payment: Starting at 3%, ideal for first-time and low-income home buyers.
Diverse Loan Options: Includes conventional, VA, FHA, jumbo loans, and HELOCs.
Proprietary Grant Program: Assists with down payments and closing costs in select states.
Loan Variety: Offers construction loans, programs for early career doctors, and a range of jumbo loans.
Regional Availability: Primarily serves the South and East, with branches in specific states.

Benefits

Accessibility: Tailored for a wide audience, including those in early careers or with lower incomes.
Competitive Rates: Mortgage rates are below the industry average, making home buying more affordable.
Comprehensive Options: A broad spectrum of loans fits various needs, from purchasing to refinancing.
Down Payment Assistance: Proprietary grants enhance affordability in North Carolina, South Carolina, Texas, and Virginia.

Product Summary

Truist Bank stands out in the mortgage landscape with its commitment to making home ownership accessible to a diverse clientele, including first-time and low-income buyers. Its comprehensive suite of mortgage products caters to a broad range of needs, from conventional loans to specialized programs for early-career doctors. The bank's competitive rates and a proprietary grant program in selected states address the significant hurdle of down payments and closing costs, making it an attractive choice for prospective homeowners.

While Truist shines in offering competitive rates and a variety of loan options, potential borrowers should note the regional limitation of its services and the absence of online rate customization without direct contact. Despite these limitations, Truist's approach to mortgage lending focuses on accessibility and affordability, positioning it as a key player for individuals embarking on the home-buying journey in its serviced regions.

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