Explore down payments as low as 3% down.^{Disclosure 1, Disclosure 2}

Buying a home involves several key steps to determine if you’re ready. You’ll want to start with understanding your budget by assessing your financial situation. This involves understanding your credit score, income, and debt-to-income ratio. Getting pre-approved for a mortgage with Truist can help you understand how much home you might afford and strengthen your position when making an offer. 

The timeline for buying a home can vary, but the process generally takes a few months. This includes the time needed to search for a home, get your offer accepted, complete the mortgage process, and close the deal. Having your finances in order beforehand and being prepared for each step can help streamline the process.

Deciding when to buy a home is a personal decision that depends on your unique financial situation and readiness. You’ll want to consider factors like your credit score, debt-to-income ratio, and potential savings for a down payment and closing costs. If you feel confident in these areas and are prepared for the responsibilities of homeownership, it might be time to get started!

The amount you need to buy a home depends on several factors, including but not limited to the home price, down payment, and closing costs. While a 20% down payment was once the standard, there are other affordable home loan options that require much less. Be sure to explore potential financial assistance programs to make homeownership more accessible.

Yes, it’s possible to buy a home without a significant down payment! While saving for a down payment is ideal, several loan programs offer low or no down payment options.^{Disclosure 1,Disclosure 2} Be sure to weigh the pros and cons, considering factors such as mortgage insurance, homeowners association (HOA) fees, and overall loan costs, to determine the best down payment options for your circumstances. 

Relationship pricing provides mortgage benefits to Truist clients who meet designated total deposit and investment levels. Your overall Truist relationship helps determine the benefits you can receive.

Many clients already qualify for a Relationship Pricing interest rate discount based solely on their current balances with Truist. If you’re already meeting the required balance level, you may not need to move anything further.

For clients who are close to the next tier, moving additional deposits or investments may help you reach a higher tier, which in turn can unlock a larger mortgage interest rate discount. This is completely optional, and the goal is simply to give you clear information so you can make the choice that’s right for you.

If you do choose to bring new assets to Truist, those funds generally need to be fully deposited before the verification window so they can be counted toward your Relationship Pricing tier.