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Choice Home Equity Line of Credit

Use a Home Equity Line of Credit* to renovate your home, refinance your mortgage, or consolidate debt.

Home Equity - As Low As Rate Master

Rate Options

One Line of Credit, Two Rate Options.

Variable and fixed rate options throughout the draw period.

You also choose when you need funds. Plus, you can lock - or unlock - the rate on qualifying balances at any time during your draw period.

Variable Rate & Payment

All new balances start at a competitive variable rate and payment.

  • Competitive low variable rate and payment that can result in affordable payments.
  • Great for home improvements, consolidating debt or refinancing other loans.

Fixed Rate[2]

Choose the stability of a fixed rate & monthly payment.

  • Great for large home improvement projects, debt consolidation & major expenses.
  • Enjoy the flexibility to lock in a fixed rate on all or part of your variable-rate balance during the draw period.

#1 Ranked HELOC Nationwide


PNC is proud to be recognized as the 2024 Best Mortgage Lender for Home Equity Lines of Credit by NerdWallet

January 2024

Choice HELOC Application Process

Once you complete your application, you will be assigned a Loan Processor to guide you through closing until you've signed your final paperwork.


Select a Rate & Payment to Apply

Have your choice of a variable or fixed rate withdrawal as part of our application process.


Provide Documents

Once we've reviewed your application and your credit history, you can provide your income documents by uploading them via Tracker, where you can also track your application progress.


Loan Processing

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. 


Why Choose PNC's Choice HELOC.

Fix your roof or consolidate your bills. At rates that may be lower than other loan/credit options with the flexibility to switch between variable and fixed rate.

Low Rates, No Hidden Charges

You pay a fee every time you lock or unlock your interest rate. No surprises.

Switch Between Fixed & Variable Rates

You can follow the market and wait for the lowest interest rate. After you draw your funds you can transfer to a fixed rate part to lock in the fixed rate. You can also go from a fixed rate back to a variable rate.

Potential Home Renovation Tax Benefits

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.

Get a Rate Reduction

Receive a 0.25% rate discount when you set up and maintain automated payments from a qualifying PNC checking account.

Learn About Home Equity

Watch the Video to Learn About the PNC Home Equity Line of Credit

Video: PNC Home Equity

Choice Home Equity Lines of Credit secured by Texas property are not eligible for a VISA Choice Access Card and will be sent access checks upon request.

Home Equity Line of Credit Frequently Asked Questions 

Learn how to leverage your home, review these scenarios to see the potential impact of consolidating debt.

You can use your Home Equity to:

Consolidate Debt 

  • If you are finding it hard to manage monthly payments for credit cards, student loans and auto loans, you may be able to consolidate your debt with a home equity line of credit and make one monthly payment.
  • Use our debt consolidation calculator to get an idea of a rate and monthly payment.


  • Whether you are renovating to get more space, reduce energy costs, or to turn your house into your dream home, accessing your home equity can be a good option.
  • Estimating the cost of your project is the first step. Get quotes from multiple contractors, and to be safe, add 20-30% to the total to account for potential overages.
  • Estimate the cost of a home renovation with our tool.

Repairs or Maintenance

  • Regular maintenance and minor repairs are a part of homeownership. But if your home needs more costly repairs, like a new roof or floors, using your home equity could be a smart choice.
  • Estimating the cost of your project is the first step. Get quotes from multiple contractors, and to be safe, add 20-30% to the total to account for potential overages.

Finance a Purchase

  • Whether planned or unplanned, large purchases or expenses can throw a wrench in your budget. You can access the equity in your home to finance things like a car, tuition or to pay for a wedding.
  • Remember, the interest you’ll pay on a home equity line of credit will add to the overall cost of any purchase. Your interest rate and monthly payment may vary over the life of your loan product you choose to use, and if you can’t make a payment you may put your home at risk. So carefully consider if the expense is worth it.

If you own a home and are looking to borrow money, consider the benefits of a home equity line of credit.
Home Equity line of credit can be used to pay for a variety of things including home renovations, consolidating debt, college tuition, major purchases and more.

The Benefits:
A Choice Home Equity Line of Credit (Choice HELOC) gives you easy access and flexibility in spending your funds.

  • Interest rates are typically lower than credit cards and other loans.
  • Fixed and Variable Rate Options are available for a balance you've taken.
  • The interest paid may be tax-deductible; consult a tax professional to assess your situation.

The Risks:
Since a Choice Home Equity Line of Credit uses your home as collateral, you will need to consider potential risks:

  • If payments are missed, there is the possibility that you could lose your home.
  • The maximum amount borrowed is a portion of your home's value which is determined by the market. So, if the market takes a down turn - you can owe more than your house is worth.

Annual Fee

The $50 Annual Fee will be charged to your Account by the second Billing Cycle following account opening and each year thereafter, during the Draw Period.

Origination Fee

  • The Choice HELOC has an origination fee. The Origination Fee is a one-time fee paid on your first monthly billing statement.
  • The Origination Fee is currently being charged in California, North Carolina, and New York. The amounts:
Total Line Amount Fee
Up to $149,999.99
$150,000 - $499,999.99
$500,000 - $749,999.99
$750,000 and up

Lock-in Fee

  • There is a $100 charge to convert a balance from a variable rate into a fixed rate lock. There is a $100 charge to unlock a balance that is currently in a fixed rate lock.
  • There is no charge to convert a balance from a variable rate to a fixed rate lock at the time of loan origination - meaning, when you sign the papers to finalize the loan. Any fixed rate lock or unlock after origination will trigger the $100 fee.

Late payment fee

If your monthly payment is submitted after the payment due date, you may be subject to a late payment fee.

Reimbursable Fees

  • PNC Bank pays for some items when you take out a Choice HELOC:
    • For CHELOCS with an application date of June 23 ,2023 and before: The valuation fee, property search fee, recording fee and county/state taxes, as applicable, are reimbursable to PNC on a prorated bases if the borrower pays off and closes the HELOC in less than 36 months from origination. Texas has no reimbursable fees.
    • For CHELOCS with an application date of June 24, 2023 and after: In addition to the valuation fee, property search fee, recording fee and county/state taxes, as applicable, the credit report and flood report fees are reimbursable. There are additional fees that may be incurred on some applications and will also be considered to be reimbursable in full.  Most common fees include, but are not limited to: extended property search, property condition report, instant income verification, notary or electronic close, attorney fees, settlement fees, etc.
  • If you close the account within the first 36 months after opening, then you will be responsible to pay those fees back to PNC. Please note: paying the balance to $0.00 will not trigger those fees, only closing or cancelling the account or selling your home.

PNC and Non-PNC customers may borrow up to 89.9% of the fair market value of their home for 1st lien Choice HELOCs.

PNC customers may borrow up to 85% of the fair market value of their home for 2nd lien Choice HELOCs.

Non-PNC customers may borrow up to 80% of the fair market value of their home for 2nd lien Choice HELOCs.

These collateral states can only go up to 85% loan to value of the home for 1st lien Choice HELOCs:

  1. Connecticut
  2. Kansas
  3. Massachusetts*
  4. Minnesota*
  5. Tennessee

These collateral states can only go up to 80% loan to value of the home for 1st and 2nd lien Choice HELOCs:

  1. Arkansas
  2. Colorado
  3. Idaho
  4. Iowa
  5. Maine
  6. Montana
  7. North Dakota
  8. Nebraska
  9. New Hampshire
  10. New Mexico*
  11. Oklahoma
  12. Oregon
  13. Rhode Island
  14. Texas
  15. Utah
  16. Vermont
  17. Washington
  18. Wyoming

These collateral states can only go up to 80% loan to value of the home for 2nd lien Choice HELOCs:

  1. Arizona
  2. California
  3. Florida
  4. Massachusetts
  5. Michigan
  6. Minnesota
  7. New York

* Please Note: New Mexico can go up to 85% in 2nd lien; it can only go to 80% for first lien

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 line or credit 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 all applicants to provide 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, any funds requested at closing from your home equity line of credit will be issued on the following day.  It can take up to 10 days after your loan closing for your home equity line of credit to be available to access for additional disbursements

*The property securing the CHELOC must be located in a state where PNC offers home equity products. PNC does not offer the CHELOC product in Alaska, Hawaii, Louisiana, Mississippi, Nevada and South Dakota.

I Want to Learn About

Home Equity Explained

Learn your options for getting funds out of your home, weigh the pros and cons, and explore what you can do with your Home Equity.

Fixed Rate Lock

A fixed rate lock gives you the flexibility to lock in a specific rate and provides a consistent monthly payment for all or a portion of your line of credit balance.[2]

Other Lending Products

Learn your options for getting funds out of your home, weigh the pros and PNC has been lending for over 100 years. We can help find the right product for you.

Home Equity Loan Tools & Calculators

Use our simple and fast calculators to find out how much you can borrow, to compare your loan options, or get a home renovation estimate.

What Will my Renovation Cost?

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.

Not Sure Where to Start?

Visit our lending hub for resources, articles and links to help you make the best decision for your borrowing needs.

Please Note: The tools and calculators provided are for educational and illustrative purposes only. The accuracy of the calculations and their applicability to your circumstances are not guaranteed. Please consult your financial, tax or legal advisor regarding your unique situation. Rates are subject to change at any time without notice.


Learn More About Home Equity


What Home Improvements Really Pay Off?

Want to sell your home? First, make sure your upgrades fetch maximum curb appeal.


HELOC vs. Home Equity Loan

Home equity lines of credit (HELOCs) and home equity loans are similar in that they both offer ways to turn your home equity into cash. But these two financial tools are not the same.


Is a HELOC a Good Idea Right Now?

Is a HELOC a good idea for you? Weigh the benefits of easy access to equity against the risks with our comprehensive guide.

Contact Us

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