Flexible financing with competitive rates
BB&T offers a variety of loan options with quick approvals and helpful service. Let us help simplify the process for you.
Which loan is right for you?
Whatever your needs may be, we make it easy for you to borrow money. Pay for major purchases or save money by consolidating your higher-interest debt with our competitive rates and flexible terms.
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You may be interested in:
Choose one or more of the above boxes to see your options.
Whether you purchase, refinance or buy-out the lease of your vehicle, we provide competitive rates and flexible terms.
- Refinance your existing loan with our competitive interest rates
- Purchase a used car from a private seller or dealer
- Avoid excess mileage fees with a lease buy-out loan
Unsecured loans and lines of credit
Get access to funds without collateral when you want to consolidate debt, pay for a vacation or make home improvements.
- Choose a fixed rate and term for predictable payments
- Manage cash flow fluctuations with a preferred line of credit
- Pay off your loan early at any time with no penalty
Save money by combining your outstanding debts into one loan at a competitive interest rate.
- Simplify your finances with one monthly payment
- Eliminate high-interest credit card debt
- Enjoy competitive interest rates and flexible terms
Boat and marine lending
From new and used boat loans to yacht refinancing, our easy lending options will keep you sailing in the right direction.
- Shorten your term and lower your payment with our refinance plans
- Purchase from a private seller or a dealer
- Benefit from quick approvals and knowledgeable service
Enjoy flexible payment options when you finance your RV, motorcycle, airplane or personal watercraft.
- Get knowledgeable service and quick approvals
- Purchase new or used from a private seller or dealer
- Pay off your loan early at any time with no penalty
Home equity loans and lines of credit
Use the equity in your home to pay for everything from home improvements and car purchases to college tuition and more.
- Competitive interest rates
- No closing cost option1
- Convenient account access methods
Do you have financial assets that you'd like to use as collateral?
Depending on your collateral, you could get up to 100% financing without ever having to touch your investments or deposits.
Use your life insurance, savings, CDs, mutual funds, brokerage accounts and bonds as collateral, and enjoy flexible repayment options.
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Interested in a credit solution for overdraft protection?
BB&T Constant Credit is a line of credit that can be used for overdraft protection. Get instant access to cash by writing a check or transferring money from your account.
Automatically transfer money from your line of credit account in the event of overdrafts. Credit lines are available from $300 to $7,500.
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Are you looking for a student loan?
You can finance college expenses with many of our lending options, including home equity loans that may provide tax-deductible interest.
If you're looking for federal student loans, contact your school's financial aid office or visit StudentAid.gov (opens in a new tab).
What you should know before borrowing
When you know what lenders are looking for and how to improve your ability to borrow, you can make the best financial choice for your situation.
What lenders are looking for
When you apply for a loan, lenders generally look at the five Cs:
- Credit history. This includes your credit score, how long you've had credit, and whether you pay your bills on time.
- Capacity. Your capacity is your ability to make payments on the loan. Lenders will review your employment, income, and debt-to-income ratio—that's your monthly bills divided by your gross income.
- Capital. This is the amount you've put down toward the purchase. It also covers the funds you have in your safety net—your total assets such as savings, stock and investments.
- Collateral. To secure credit for an auto loan, your collateral is your car. For a mortgage, it's your house. If you default on your loan, your lender can assume ownership of the collateral.
- Conditions. These can include your plans for the loan, economic conditions, and co-signers or guarantors.
What you need to apply
- ID. You'll need your Social Security card and a government-issued ID.
- Proof of income. You will need a recent payroll stub or a W-2 tax form.
- Employment and tax return information. If you're applying for a mortgage or personal loan, you'll need to supply 1–2 years of your federal tax returns.
- Financial statements. For mortgages and other large loans, lenders will require you to supply copies of your banking and investment account statements.
With these basic items taken care of, you'll be ready to get started.
What you can do to improve your ability to borrow
- Pay your bills on time. Don't make late payments, because they’ll stand out in your credit history.
- Check your credit score and correct any errors. If any of your information is incorrect, the credit agencies will need to amend your report.
- Pay off smaller debts first. This will improve your payment history and increase your debt-to-income ratio.
- Build up your savings. This will give your financial balance sheet a boost and give you an important financial safety net.
- Don't over-apply for credit. Each time you apply for credit, your credit score will go down for a short time. If you apply for several loans within a few months, your credit score will be impacted.
Where can you check your credit score?
The bottom line
Be a smart shopper and never rush into a major financial decision. Find the best loan and interest rate for your situation. Ultimately, you can save money and avoid last-minute surprises by being well prepared.
Does debt consolidation make sense for you?
Debt consolidation can improve your finances in two big ways.
By consolidating your debt, you can:
- Reduce the amount of interest that you pay
- Make your finances easier to manage by reducing your total number of bills
If you're overwhelmed with debt, this option can really help gain more control of your financial life.
There are a number of ways to consolidate debts. You might consider:
- Low interest credit cards. If you can obtain a low-interest card, use it to consolidate smaller debts (less than $3,000, for example). To save the most, pay it off during the introductory rate period.
- Personal loans. A personal loan offers you a fixed rate and term. If you consolidate your debts with a personal loan and pay it off, then those debts would be eliminated. While you would be able to count on predictable payments, you would not be able to increase the amount of the loan.
- Home equity loan. If you have larger debts to consolidate, you can use your home as collateral to secure an installment loan with a lower fixed rate. Consider a home equity line of credit with an adjustable rate if you’d like to have ongoing access to credit for expenses.
- Refinancing. If you plan to stay in your home for a time, you can use the cash-out option to pay for your debts and enjoy a lower fixed rate. But you'll need to remain in your home long enough to recoup closing costs.
As you choose whether to consolidate your debts, you'll need to:
- Create a long-term debt management plan. Once you've consolidated, you'll still owe the same amount. If you don't pay it off—or if you take on more debt—then you've just added to your debt issues.
- Consider the costs. Loans can come with fees, and if you refinance, you'll have to pay closing costs. So weigh the costs carefully before you decide whether debt consolidation is right for you.
- Have realistic expectations about low interest rates. Low rates go to consumers with good credit. If you're having problems paying your debts, you may not be able to take advantage of the lowest rates.
Ultimately, debt consolidation is your choice. With the right solution and a careful consideration of the costs, you can simplify your finances and save money.
If you want more advice about how to manage your debt, speak to a nonprofit credit counselor. They can provide you with impartial advice about your specific situation.
Ready to get started?