PNC: 2021 Home Equity Review

Courtesy of PNC Bank
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PNC Financial Services Group has been in business for more than 160 years and provides various banking and lending services in more than 40 states and Washington, D.C. Headquartered in Pittsburgh, Pennsylvania, the bank operates primarily in the Mid-Atlantic, Midwest and Southeast.

PNC offers just one home equity product: a home equity line of credit (HELOC). Unfortunately, PNC’s website has very little information on the product, so you’ll have to call the bank or submit an application for more details.

PNC snapshot

Loan types offered HELOC
APR range Not specified
Loan amount range Not specified
Minimum credit score required Not specified
Repayment terms Not specified
Average time to approval Not specified


To find out whether PNC is a good fit for your home equity needs, it’s important to know both the benefits and drawbacks of what the lender has to offer. Here are some of its best features:

  • Fixed-rate option: You may convert all or some of your HELOC to a fixed rate during the draw period for a $100 fee. The terms for the fixed-rate lock are five to 30 years.
  • Flexible borrowing options: While the site doesn’t advertise a specific dollar amount maximum, PNC lets you borrow up to 84.9 percent of the fair market value of your home.


PNC may not be a good fit for everyone. Here are some of its drawbacks:

  • No transparency on the website: Many home equity lenders are upfront about rates, terms and eligibility requirements. PNC’s website has none of this information, so you’ll need to take the extra step in contacting the lender to determine if its HELOC is right for you.
  • Terms can vary based on where you live: PNC operates in more than 40 states, and your offers could vary by ZIP code.

Types of fees charged

PNC does not specify what types of regular fees it charges on its HELOC, although many HELOC lenders will have late fees, returned check fees and prepayment penalties. If you convert some of your HELOC to a fixed rate, PNC charges a $100 fee each time.

Loan products offered

PNC offers several mortgage and mortgage refinancing products, as well a HELOC. Details are scarce about PNC’s HELOC, but you may borrow up to 84.9 percent of your home’s value. Interest rates are variable; however, for a $100 fee, you can convert some or all of your balance to a fixed rate with a repayment term of five to 30 years. This is a good option if rates are low and you want the security of a fixed monthly payment.

How to qualify for a home equity loan with PNC

PNC doesn’t disclose any minimum credit score or maximum debt-to-income ratio requirements, so it’s tough to get an idea of whether you might get approved without applying. If you want to minimize time spent filling out applications, as well as credit inquiries, it may be better to consider a home equity lender that provides this information upfront.

Also, keep in mind that PNC doesn’t offer home equity products nationwide. You’ll need to apply to find out if you live in an eligible area and to check which products are available to you.

How to get started

If you’ve shopped around and are ready to apply with PNC, you can do so online, at a local PNC branch or by calling 1-855-762-9545. Representatives are available Monday through Thursday from 8 a.m. to 10 p.m. ET, Friday from 8 a.m. to 6 p.m. ET and Saturday through Sunday from 8 a.m. to 5 p.m. ET.

If you apply online, you’ll start by by entering basic loan details and information about your property. During the application process, which can take as little as 15 minutes, you’ll need to provide the following:

  • Personal information, including your name, contact information, Social Security number, date of birth, income and employment status.
  • Property information, including your address, property type and estimated property value.
  • Desired loan amount.

Once you submit your application, the lender will run a credit check. Note that you may also need to provide supporting documents to complete the application process, including tax returns, pay stubs, bank statements and more.

How Bankrate rates PNC

Overall Score 4.0
Availability 3.0
Affordability 4.4
Customer Experience 4.5

Editorial disclosure: All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.

Written by
Ben Luthi
Contributing writer
Ben Luthi is a personal finance and travel writer who loves helping people learn how to live life more fully. His work has appeared in several publications, including U.S. News & World Report, USA Today, Yahoo! Finance and more.
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