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|Interest Rate Type||Variable|
|Payment Type||Principal + Interest|
|Discounts Applied*||0.25% interest rate discount for automatic payment from a PNC checking account and 0.25% interest rate discount for a $25,000 draw at closing excluding funds to pay PNC debt|
(waived with a Performance Select Checking account)
*Certain restrictions and conditions apply. For important information on rates, fees and applied discounts, click on the "Important Disclosures" link(s) in the rate chart.
The fees shown herein are the current PNC Closing Costs and Servicing Fees for new loans and lines of credit as of Thursday June 5, 2014 11:58:23 ET, and may not necessarily be applicable if your loan or line of credit was originated at an earlier or later date or by a PNC predecessor. Please call 1-888-PNC-BANK (1-888-762-2265) for information about servicing fees specific to your account.
The SCRA provides financial relief and protections to eligible servicemembers and their dependents. PNC is grateful for your service and we would like to help you understand your benefits and protections under SCRA as well as other similar benefits that PNC may be able to provide to you.
To find out more, please contact us at:
You may be asked to provide some or all of the items listed below to decision your credit request. In order to expedite the process, please provide all required information at the time of application. If you apply online or over the phone, you will be asked to fax, mail or email this information.
Personal Information for Applicant and Co-Applicant:
Required Income Documentation for Applicant and Co-Applicant
You may fall into one or more of these categories. Please submit all documents that apply.
If you are an EMPLOYED WAGE EARNER / COMMISSIONED:
If you are SELF-EMPLOYED
If you receive SUPPLEMENTAL or RETIREMENT INCOME:
Required Property Information
Additional Information, if applicable and may be required during the review process
The minimum amount of information you should be prepared to answer at the time of application includes:
Upon submission of your application, PNC will obtain and review your credit history. Approval for credit is contingent upon your credit history and other factors.Provide Required Documentation
Click here for a list of possible documentation, depending on your individual situation.
Documentation, Credit History and Property Valuation Review
We’ll evaluate your credit history, verify your employment, verify your income, and review all supporting documentation submitted.
We’ll verify ownership and complete a valuation of the property being pledged
as collateral by ordering an appraisal product from an independent service provider, who will always inspect and photograph the property’s exterior. In some cases, this independent service provider may call you to setup a time to inspect both the property’s interior and exterior. A review of all information will enable us to determine that you meet the qualifications for the credit product for which you applied.
Final Credit Decision
If your request for credit is approved, we will communicate the final approval or a counter-offer to you, detailing any closing stipulations. For example, updating the declaration page of the Homeowner’s Insurance Policy listing PNC Bank, NA as loss payee is required. We’ll then schedule a closing date and verify the amount(s) to be disbursed, if applicable, including the amount(s) of any required payoffs.
If we are unable to approve your request for credit, you will receive a communication indicating the reasons for the decline.
Loan Closing and Disbursement of Funds
At closing we will require two forms of identification; one must be a valid photo ID. After reviewing the terms and conditions of your line of credit or installment loan, you will be asked to acknowledge and accept those terms and conditions by signing loan documents.
When using a primary residence as collateral, a three business day right to cancel (“rescission”) period is required by law to allow applicants the opportunity to cancel their home equity line of credit or home equity installment loan application.
Once your right to cancel period has expired, the funds from your home equity line of credit will be available or the funds from your home equity installment loan will be disbursed.
What is a Home Equity Line of Credit?
How much can I borrow?
What will my rate be?
Is my interest tax deductible?
What property types are eligible for Home Equity Lines of Credit or Home Equity Installment Loans?
Are there any fees if I payoff my Home Equity Line of Credit?
How fast will I get my money?
Credit is subject to approval.
Certain restrictions and conditions apply.
Interest on home equity loans/lines that are not considered home acquisition debt may not be tax deductible. Please consult your tax advisor.
Discount only applicable as long as payments are set up for automatic deduction from a PNC checking account. If automatic payment is discontinued, you will no longer receive an automatic payment discount and your rate will increase.
Rate Discount Eligibility for $25,000 draw at closing: (1) Rate discount of 0.25% is available for a minimum draw of $25,000 at closing, (2) the rate discount is valid for home equity lines of credit and not for home equity loans, (3) the eligible amount drawn at closing excludes any funds used to pay any PNC debt, (4) offer may not be combined with other discounts with the exception of the Automatic Payment Plan and employee discount, and (5) offer is not valid on any existing PNC line of credit and may be modified, extended or discontinued at any time.