PNC, PNC HomeHQ, PNC Home Insight and Home Insight are registered service marks of The PNC Financial Services Group, Inc. ("PNC"). PNC has a pending patent application directed at various features and functions of Home Insight® Planner. All loans are provided by PNC Bank, National Association, a subsidiary of PNC, and are subject to credit approval and property appraisal.
How We Verify Income & Assets
Understand how your information is used when you apply for a mortgage.
How We Collect Information
When you apply for a mortgage with PNC, we’re required to review information about your income and any additional assets you own. This helps us determine the terms of your loan, influencing how much home you can afford.
To collect this information, we'll send you a link. You can enter your information about income and assets and provide statements. You'll confirm approval to review this information and process it with our underwriting systems.
Your Role
In many cases, you can link your accounts to provide your information during the mortgage application process. This allows us to verify that information directly from other financial institutions. Linking your accounts is a streamlined, safe and secure way for you to share the information we need to review when underwriting your loan.
For accounts you can’t or would prefer not to link, you’ll need to provide approved documentation like statements.
Once you’ve linked your accounts or shared your information, remember to be cautious when moving your money, as this may cause delays or even change the terms of your loan.
How Your Information is Used
By confirming your income, we can make sure you’ll be able to comfortably make your mortgage payments each month. We consider this information alongside any existing debts you have and use it to calculate your Debt to Income ratio.
Verification of income can come from tax documents like W-2s or tax returns, pay stubs or checking account statements.
This gives us an overview of your net worth – the total value of what you already own, and any other debts you have. We use this information to be sure your mortgage terms make sense for you and support your goals.
Assets may be:
- Cash on hand, not in an account or things that can be converted to cash easily
- Gift money from a loved one
- The value of any businesses you own
- Valuables like art, jewelry, collectibles or cars
We also review the age of your assets to make sure they’ve been in your accounts for a certain amount of time and aren’t newly deposited.
Verification of assets can be done digitally or with paper statements. Often, digital options are simpler and safer - we connect directly to other financial institutions. However, as needed, you can provide paper statements.
Take the Next Step
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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.