SunTrust Mortgage (Truist) Review 2023
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Our Take
4.5
The bottom line:
SunTrust Banks has merged into the Truist Bank brand, so borrowers will end up with a loan from Truist.
Full Review
Pros & Cons
Pros
- Truist offers a complete suite of online mortgage application tools and loan tracking.
- Sample rates are easy to find on the Truist website.
- Truist offers a wide variety of loan options, including construction loans and special programs for doctors.
Cons
- Customized rates aren't available online without starting a Truist mortgage application.
- For borrowers who prefer to apply in person, branches are limited mostly to the South and East.
Compare to Other Lenders
Min. credit score620 | Min. credit score620 | Min. credit score620 | Min. credit score620 | Min. credit score620 |
Min. down payment3% | Min. down payment3% | Min. down payment3% | Min. down payment3% | Min. down payment3% |
Loan types and productsPurchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA | Loan types and productsPurchase, Refinance, Home Equity, Reverse, Jumbo, Fixed, Adjustable, FHA, VA, USDA | Loan types and productsPurchase, Refinance, Fixed, Adjustable, FHA, VA, USDA | Loan types and productsPurchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA, Home Equity | Loan types and productsPurchase, Refinance, Home Equity, Jumbo, Fixed, Adjustable, FHA, VA, USDA |
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Full Review
After merging with BB&T and Suntrust, Truist Bank offers a variety of loans for first-time home buyers as well as repeat buyers and those seeking refinancing in all states but Alaska, Arizona and Hawaii. It provides financing for government-backed mortgages, such as FHA and VA loans.
Conventional borrowers can get fixed-rate loans or adjustable-rate mortgages. Additionally, Truist Bank works with borrowers seeking financing for mortgages larger than the Federal Housing Finance Agency's conforming loan limits, known as jumbo loans. Truist also has a doctor loan program.
» MORE: Read the full Truist mortgage review.
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Methodology
NerdWallet’s overall ratings for mortgage lenders are evaluated based on four major categories: variety of loan types (purchase, refinance, fixed and adjustable, for example), ease of application, rates and fees and rate transparency. Among the factors we consider when scoring these categories are options to apply for and track loans online, the level of detail about mortgage rates on lender websites and our analysis of the rates and fees lenders reported in the latest available Home Mortgage Disclosure Act data. These scores generate ratings from 1 star (poor) to 5 stars (excellent).
