A home equity line of credit (HELOC) lets you borrow money against the available equity in your home. PNC's HELOC gives you the option to borrow at a variable interest rate or to lock in a fixed rate on balances of $5,000 or more. Fixed rate. Variable rate. You choose. That's why we call it a Choice Home Equity Line of Credit.
All new balances start at a competitve variable rate and payment.
Choose the stability of a fixed rate & monthly payment.
Select a Rate & Payment to Apply
Have your choice of a variable or fixed rate withdrawal as part of a 15-minute application process.
Once we've reviewed your application and your credit history, you can provide your income documents.
PNC will verify your income and your home's value.
Closing and Funding
PNC will help you set up your closing appointment and sign your papers.
Home renovations made to a home for medical purposes (for example a wheelchair ramp) to install energy efficient equipment (for example, a solar panel) may qualify as a tax deductible expense. Consult your tax advisor.
Estimate the amount of equity that you have available in your home.
Our "Home Improvement Calculator" can create a personalized cost estimate for your project plan. Once you know how much you need, explore borrowing options to find your best financing choice.
Learn how to leverage your home, review these scenarios to see the potential impact of consolidating debt.
Home Equity loans can be used to pay for a variety of things including home renovations, consolidating debt, college tuition, major purchases and more.
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 line or credit for which you applied.
If your request for credit is approved, we will:
If we are unable to approve your request for credit, you will receive a communication indicating the reasons for the decline.
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, 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 application.
Once your right to cancel period has expired, the funds from your home equity line of credit will be available.
Credit is subject to approval. Certain restrictions and conditions apply.
This account includes the option to establish one or more fixed rate parts during the draw period for terms of 5-30 years. A $100 transfer fee applies each time a fixed rate part is established or unlocked. See account terms or ask us for details.
A 0.25% rate discount is included for setting up automatic payment from a PNC Checking account at loan closing.
Bank deposit products and services provided by PNC Bank, National Association. Member FDIC
PNC is a registered service mark of The PNC Financial Services Group, Inc. (“PNC”). All loans are provided by PNC Bank, National Association, a subsidiary of PNC, and are subject to credit approval and property appraisal.
Read a summary of privacy rights for California residents which outlines the types of information we collect, and how and why we use that information.