PNC Mortgage Review 2021

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At a glance

Visit PNC Bank website

NMLS: 680283

4.5

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Bankrate Score

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Loans offered

Conventional, jumbo, FHA, VA, USDA, fixed-rate, adjustable-rate; rate-and-term, cash-out and streamline refinancing, home equity line of credit (HELOC), home equity loan, investment property, interest-only
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Nationwide availability

Available in all U.S. states
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Min. credit score required

620 for conventional loans; 620 for jumbo loans; 620 for FHA loans; 640 for USDA loans

Pros and cons

Pros

  • Available in all 50 states
  • Online and in-person options to apply
  • Application can be tracked online

Cons

  • Doesn’t offer mortgage prequalification
  • Limited app functionality

PNC Bank overview

Founded in 1852 as Pittsburgh National Bank, PNC is a national lender with branch locations in 25 states and mortgages available nationwide. A mortgage preapproval can be obtained almost instantly online if prospective borrowers have all the required information handy. PNC also offers customers some specials for home purchases, but the offers vary by applicant and lock-in date. PNC’s headquarters remains in Pittsburgh today, and it is one of the largest banks in the U.S. by deposits.

Good for

Borrowers looking for a quick preapproval and those who want the option of working with a brick-and-mortar bank

Loan types

  • Conventional
  • Jumbo
  • FHA
  • VA
  • USDA
  • Fixed-rate
  • Adjustable-rate
  • Rate-and-term, cash-out and streamline refinancing
  • Home equity line of credit (HELOC)
  • Home equity loan
  • Investment property
  • Interest-only

Lender fees

PNC’s lender fees can include an origination fee, rate-lock fee and other closing costs. These expenses might vary by loan type and amount and other factors, but typically range from 3 percent to 5 percent of the loan amount, according to its website. Some discounts might be available for purchase customers.

Rates

PNC advertises daily rates on its website, but you’ll need to enter your loan amount and zip code to access them.

Reputation

PNC is not accredited by the Better Business Bureau, but it has an A+ rating on the site. On Trustpilot, PNC is rated two out of five stars, but many of the complaints are related to personal banking, not mortgage products specifically. The bank also ranked No. 9 out of 18 in J.D. Power’s 2020 Primary Mortgage Origination Satisfaction Study and No. 12 out of 36 in the 2020 Primary Mortgage Servicer Satisfaction Study.

Online services

With PNC, borrowers can get preapproved and apply for a loan online. The bank offers online support for preapprovals, tracking and planning, and other tools like calculators as well.

PNC does not offer an app for mortgage borrowers, but some of its browser-based mortgage functions can be accessed through the general banking app. Borrowers can also take advantage of e-signature capabilities.

Minimum borrower requirements

PNC generally follows the conforming loan requirements for mortgages approved by government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, as well as those backed by the Federal Housing Administration (FHA), the Department of Veterans Affairs (VA) and the Department of Agriculture (USDA).

For conventional loans, key requirements include good credit (typically a FICO score of 620 or higher) and a minimum down payment of 3 percent. However, anything less than 20 percent down will trigger the private mortgage insurance (PMI) requirement.

For FHA, VA and USDA loans, minimum requirements are set by the respective agencies. You can find them here:

In addition, borrowers who have insufficient credit history might be able to submit alternative documents, like rent payment history, along with their credit report.

Refinancing with PNC

PNC offers a range of refinancing options, and you can apply for a refi online or in person.

Not sure if PNC is right for you? Consider these alternatives

Breakdown of PNC overall review score

  • Affordability: 14.75/15
  • Availability: 16/20
  • Borrower experience: 14/15

Review methodology

To determine a mortgage lender’s Bankrate Score, Bankrate’s editorial team rates lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews. Here is our full methodology.

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PNC Bank consumer reviews

4.5

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30 reviews

5 stars
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1 stars
26
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4

Customer service rating

Knowledge
4.5
Level of service
4.4
Professionalism
4.4
Responsiveness
4.4

87% of reviews would recommend this lender

0 of 1 rates honored

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1 of 1 reviews

The consumer reviews posted on Bankrate.com ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews.

To help serve you with relevant information the consumer reviews shown below are limited to only those that this advertiser has received during the past 12 months.

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As bad as it gets

Richard Warren | Virginia | 9/3/2021

Written by
Zach Wichter
Mortgage reporter
Zach Wichter is a mortgage reporter at Bankrate. He previously worked on the Business desk at The New York Times where he won a Loeb Award for breaking news, and covered aviation for The Points Guy.
Edited by
Mortgage editor