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PNC Mortgage Review 2024

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At a glance

PNC Bank
NMLS: 446303
Editor's take

PNC Bank is one of the top 10 mortgage lenders in the U.S., and worth looking into if you’re already a banking customer. Eligible first-time homebuyers could find savings here, too, with the bank’s $5,000 closing cost grant. You can easily shop home loan rates on the bank’s website, as well as use a slew of calculators to help you run the numbers for your mortgage.

Bankrate Score
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4.5
Rating: 4.5 stars out of 5
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Customer Rating
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4.4
Rating: 4.44 stars out of 5

36 ratings

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, USDA, refinancing and more

Credit Good

Min. credit score required

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

Location

Nationwide availability

All U.S. states

Dollar Coin

Min. down payment

3% for conventional loans, 3.5% for FHA loans, none for VA loans or USDA loans

At a glance

PNC Bank

NMLS: 446303

4.5

Rating: 4.5 stars out of 5
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Bankrate Score

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, USDA, refinancing and more

Location

Nationwide Availability

All U.S. states

Credit Good

Min. credit score required

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

PNC Bank overview

PNC was the ninth-largest mortgage originator in the nation in 2022, according to federal data. Founded in 1852 as Pittsburgh National Bank, PNC is a national bank and lender with branch locations in 29 states and mortgages available nationwide. Among the perks of working with this bank on your loan: a no-credit check prequalification and some specials on home purchases. PNC is one of the largest banks in the U.S

Pros and cons of PNC

Pros
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    Online and in-person options to apply

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    Application can be tracked online

Cons
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    Limited mobile app functionality

Our Editor’s Take on PNC Bank

PNC Bank is one of the top 10 mortgage lenders in the U.S., and worth looking into if you’re already a banking customer. Eligible first-time homebuyers could find savings here, too, with the bank’s $5,000 closing cost grant. You can easily shop home loan rates on the bank’s website, as well as use a slew of calculators to help you run the numbers for your mortgage.

How Bankrate scored PNC

  • Affordability: PNC’s mortgages generally come with competitive rates (as of this review), but there are some lender-charged closing costs to take into account.
  • Availability: One of the biggest banks in the U.S., PNC operates nationwide, offering varying types of home loans for a range of borrowing needs.
  • Borrower experience: PNC follows a fairly standard mortgage application process, issuing approvals within a few days and closing typically in just over a month. Notably, its customer service team is available seven days a week.

Affordability: 8.2/10

PNC advertises daily rates on its website, but you’ll need to enter your loan amount and zip code to access them. Its lender fees might include an origination 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 banking customers.

Availability: 10/10

Available to borrowers in all 50 states, PNC offers a robust slate of mortgage products, including conventional and government-insured loans (FHA, VA and USDA), as well as jumbo loans for more expensive properties. The bank also provides solutions if you’re interested in tapping your home’s equity or refinancing.

Borrower experience: 9/10

PNC is not accredited by the Better Business Bureau, but it has an A+ rating from the organization. It has less favorable reviews on Trustpilot, but many of the complaints are related to personal banking, not mortgage products. Still, the bank ranked below average in J.D. Power’s 2023 Primary Mortgage Origination Satisfaction Study.

The process of obtaining a mortgage through PNC might look something like this: If qualified, you’ll get an online preapproval in as little as 24 hours, and a conditional approval in approximately three to five business days. When you’re ready, you can also apply for a loan online. The bank recently revamped its digital application, allowing you to import income information using your bank credentials. At last check, the bank averaged 41 days to close but can accommodate shorter timelines if needed. Unlike some other big bank lenders, PNC doesn’t offer an app for mortgage borrowers, but some of its browser-based mortgage functions can be accessed through the general banking app. You might also be able to e-sign some closing documents.

How to apply for a mortgage with PNC

You can apply for a mortgage with PNC Bank in person at a branch location, online or by phone at 800-614-1227. Here are some tips to prepare for the process:

  1. Check your credit report. It’s important to check your credit report before your lender does, in case there are errors that could impact not only whether you get preapproved but also your ability to get the best mortgage rate. Knowing your credit score also helps you decide what type of loan to apply for. If your score is in the very low 600s, for instance, an FHA mortgage might be best for you, as its standards are more lenient than those for conventional loans.
  2. Gather personal and financial documents. With any lender, you must supply documentation about your income, assets and debts. This includes pay stubs and W-2s and account and loan statements.
  3. Provide details about the property. You’ll need to provide the address of the home and submit to an appraisal. (If you’re refinancing, you might or might not need an appraisal.)

Refinancing with PNC

PNC Bank offers both rate-and-term and cash-out refinancing options.

Compare PNC Bank to other lenders

PNC Bank
Rating: 4.5 stars out of 5
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4.5

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Bethpage Federal Credit Union
Rating: 4.9 stars out of 5
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4.9

Bankrate Score
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Read full review
First Mortgage Direct
Rating: 4.8 stars out of 5
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4.8

Bankrate Score
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Read full review

Loans offered

Conventional, jumbo, FHA, VA, USDA, refinancing and more

Loans offered

Conventional, jumbo, FHA, refinancing and more

Loans offered

Conventional, jumbo, FHA, VA, USDA, refinancing and more

Min. credit score required

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

Min. credit score required

620 for conventional loans, 500 for FHA loans

Min. credit score required

620 for conventional loans, 580 for FHA loans, 580 for VA loans

Down payment

3% for conventional loans, 3.5% for FHA loans, none for VA loans or USDA loans

Down payment

3% for conventional loans, 3.5% for FHA loans

Down payment

3% for conventional loans, 3.5% for FHA loans, none for VA loans and USDA loans

Nationwide availability

All U.S. states

Nationwide availability

Available in all U.S. states except Texas

Nationwide availability

All U.S. states

PNC Bank customer ratings and reviews

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NMLS: 446303

4.4

Rating: 4.44 stars out of 5

36 ratings

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This lender has 0 recent reviews.

Knowledge
Rating: 4.4 stars out of 5
Level of service
Rating: 4.4 stars out of 5
Professionalism
Rating: 4.4 stars out of 5
Responsiveness
Rating: 4.4 stars out of 5
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86% of customers would recommend this lender.