Build Your Dream Home

Whether building or renovating, learn how PNC's construction loan options could work for you

Construction & Renovation to Permanent Financing & Lot Loans

Building or renovating a home is an exciting time for homeowners. Whether you’re a first-time builder or a seasoned professional, everyone needs a little guidance along the way.

PNC’s primary responsibility is to furnish financing, while adhering to all applicable regulatory guidelines. We do this by providing outstanding service, being a resource of information, monitoring the project’s progress and disbursing funds in a timely manner.

PNC Construction Image

Important: These products are only available to customers with collateral in Alabama, Arizona, California, Colorado, Florida, Georgia, New Jersey, New Mexico, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Washington. This product is not yet available to customers outside of these states.

ADD IN

What If I Need More Information?

Download our PNC Construction Loan guide for more information.

Click Here to View and Download Guide

Required Documentation During Each Draw Phase

Disbursement of Funds for Completed Work

Requesting a disbursement of funds from PNC is easy and convenient. The typical disbursement process is as follows:

1

PNC will inspect the project to determine the progress. If inspections exceed the number of prepaid inspections (typically three for renovation and six for construction), additional inspection fees may be charged and are the homeowner’s responsibility.

2

The inspection schedule will determine completion based on a percentage complete basis. The actual building cost may differ at any stage of completion.

3

Inspections are usually obtained within 48 hours of notice and corresponding draw made within 24 hours of the receipt of the inspection report and required documentation. If the homeowner and/or builder fail to complete a required document correctly, funds will not be released until the error is corrected.

4

Funds are disbursed to the homeowner, to the builder or jointly as agreed to by the parties after an inspection of the property. Only items completed at the time of the inspection will be given credit.

5

Once the method of disbursement is established, any change in the disbursement method, regardless of who is requesting the change, is required to be submitted in writing by the homeowner.

6

If applicable, Earnest Money and the Startup Draw are calculated and factored into the first draw, which may be at closing. The homeowner and/or builder will provide a breakdown that details how funds were used.

Important Dates to Remember

Closing Date Your loan is closed; you’ve drawn the funds you need and you’ll begin construction. You’ll receive a Welcome Email shortly after.
1st of each month after closing Your interest-only payment will be due.
17th of each month after closing We prepare your interest bill and send it to you.
30 days before you complete construction Contact your Draw Coordinator to talk about final requirements and your final draw (the final amounts you need to complete construction.)
Conversion Date This is typically the date you complete construction. Your loan will change from the construction phase to the permanent phase and your payments will go from interest-only to mortgage payments of both interest and principal.

Frequently Asked Questions

Contact Us

Call Us

Talk with a representative about your options.

Call 1-888-608-5402

Schedule an Appointment

Find a convenient time to meet with us.

Make an Appointment