Take care of today, plan for tomorrow.
Use a Home Equity Line of Credit to renovate your home, refinance your mortgage, consolidate debt or prepare for unexpected expenses.[1]
Resume ApplicationYou also choose when you need funds, and pay interest only on what you borrow.
Plus, you can lock - or unlock - the rate on qualifying balances at any time during your draw period[2].
All new balances start at a competitive variable rate and payment.
Choose the stability of a fixed rate & monthly payment.
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 a 15-minute application process.
Provide Documents
Once we've reviewed your application and your credit history, you can provide your income documents.
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.
Fix your roof, consolidate your bills or pay for unexpected expenses. At rates that may be lower than other loan/credit options with the flexibility to switch between variable and fixed rate.
You pay a fee every time you lock or unlock your interest rate[2]. No surprises.
If you have $50,000 credit limit and only use $10,000, you will only pay interest on the $10,000.
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.[2]
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.
Receive a 0.25% rate discount when you set up and maintain automated payments from a qualifying PNC checking account
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.
Need a home equity loan but aren't sure how much you can borrow? Answer a few questions and we'll help you understand your home's equity.
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.
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.
Visit our lending hub for resources, articles and links to help you make the best decision for your borrowing needs.
Learn how to leverage your home, review these scenarios to see the potential impact of consolidating debt.
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.
A Home Equity line of credit gives you easy access and flexibiltiy in spending your funds. You can:
Since a Home Equity line of credit uses your home as collateral, you also need to consider potential risks:
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 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, 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 (except in the state of Tennessee where terms range from 5-20 years). A $100 transfer fee applies each time a fixed rate part is established or unlocked. See account terms or ask us for details.
To receive a 0.25% interest rate discount to the Variable APR applicable after the Introductory Period ends, you must set up Automatic Payments from a qualifying PNC checking account at closing. The automatic payment discount will be discontinued if you cancel automatic payments. The automatic payment discount does not apply the Introductory APR.
Bank deposit products and services provided by PNC Bank, National Association. Member FDIC
Carrier fees for data usage may apply.
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.
Texas Collateral Information for CHELOC:
Texas Choice Home Equity Lines of Credit can only be secured by a primary residence designated as homestead property and can not exceed 80% combined loan to value of that property.
Fees not applicable for accounts secured by Texas property include: Annual Fee and the reimbursement of any closing costs paid on borrower behalf by PNC Bank if customer closes the line of credit within 36 months of account opening.
Minimum draw in Texas is $4,000.
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.
PNC cannot use a customer’s home equity funds to pay (in part or in full) PNC non-homestead debt at account opening.
The PNC Financial Services Group, Inc. All rights reserved.
PNC Bank, National Association. Member FDIC
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