Choice Home Equity
Line of Credit

Use a Home Equity Line of Credit* to renovate your home, consolidate debt or prepare for unexpected expenses.[1]

Rate Options

One Line of Credit, Two Rate Options.

Variable and fixed rate options throughout the draw period.[2]

You 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.

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 other unexpected expenses.

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.

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 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. 


Why Choose PNC's Choice HELOC.

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.

Low Rates, No Hidden Charges

You pay a fee every time you lock or unlock your interest rate[2]. No surprises.

Pay Interest on Only What You Use

If you have $50,000 credit limit and only use $10,000, you will only pay interest on the $10,000.

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.[2]

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[3]

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

Learn About Home Equity

With a PNC Home Equity Line of Credit (HELOC) you can:

Renovate your home

Refinance your mortgage

Consolidate debt

Prepare for life's unexpected expenses

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

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.

• Borrow up to 89.9% of the fair market value of your home for 1st lien Choice HELOCs.

• Borrow up to 85% of the fair market value of your 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. Minnesota
  4. Massachusetts
  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

* 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 Loans

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

HELOC Pros and Cons

Learn more about the pros and cons of a HELOC loan, and help determine if it's right for you.

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

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.

How Much Can I Borrow?

Estimate the amount of equity that you have available in your home.

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.

Learn More About Home Equity


HELOC Requirements: What Homeowners Need to Access Equity

Are you interested in acquiring a Home Equity Line of Credit (HELOC?) Find out what you'll need in order to access the equity in your home.


Personal Loan vs. Personal Line of Credit

A personal loan and a personal line of credit are popular options for borrowers, but they're not the same. Explore key differences in this guide from PNC.


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.

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