Combination Loan

Buy a home with as little as 10.1% down & enjoy lower monthly costs.


1st and 2nd combination mortgages can eliminate the need for private mortgage insurance and provide flexibility in your home financing

Facts & Figures

Purchase a home with as little as 10.1% down and enjoy lower monthly costs. The 80-10-10 Combination Loan consists of a first mortgage from PNC for 80% of your home’s value, a  a PNC Bank home equity line of credit  second mortgage for 9.9% of the value, and a 10.1% cash down payment.

  • For a 20% down payment, put down as little as 10.1% of the purchase price and finance the remaining 9.9% with a Home Equity Line of Credit 
  • Potentially lower your monthly payment by eliminating private mortgage insurance (PMI)
  • Interest on both loans may be tax-deductible. Consult a tax advisor

Costs & Fees

Typically these fees range from 3% - 5% of the loan amount.

Combination Loan FAQs

Top customer questions about adjustable rate mortgages.

Fixed rate mortgages have a locked interest rate that will remain the same for the life of the loan. The interest rate on an Adjustable Rate Mortgage will change on an annual basis after the predetermined initial interest rate period expires.

With a Fixed Rate Mortgage, the rate and payment will remain the same throughout the life of the loan. If you want to change the terms of your loan, you will have to refinance.

There are few factors that determine how much you will be qualified to borrow: credit history, debt-to-income ratio, loan-to-value ration, and your down payment.

Credit History Specific credit requirements vary based on a range of criteria including loan-to-value, debt-to-income ratios, previous credit history, and assets used to qualify for the loan, but in general successful applicants will have average or better credit.
Debt-to-Income Ratio Specific debt-to-income requirements vary based on a range of criteria including loan-to-value ratio, assets used to qualify for the loan and credit history but typically a successful applicant will have a total debt-to-income ratio (including the proposed loan payment)below 43% of monthly gross income.  Learn "What Percentage of Your Gross Income Should Go Toward a Mortgage Payment?".
Loan-to-Value Ratio / Down Payment Adjustable rate mortgages can be used to buy a home with as little as 5% down when private mortgage insurance (PMI) is purchased.

Your rate is calculated based on a variety of factors, including credit qualifications, loan-to-value, loan amount and other criteria.

Mortgage Calculators

Comparing loan options? Just looking for how much you can borrow? Use our home lending calculators to understand your home buying options and help you decide.

How Much Can I Afford?

Fixed vs. Adjustable Rate

Mortgage Process Guide

Understand the basics before you start the mortgage process.

Credit Score Basics

When you buy or refinance, your credit score is one of the first things a lender looks at. It helps them determine if you qualify for a loan, and what interest rate they can offer you.

Factors that affect your Credit Score:

  • Length of Credit History
  • Amounts Owed 
  • Payment History 
  • New Credit 
  • Types of Credit Used
  • Derogatory Credit

Your credit score reflects how reliable you are as a borrower and is determined by your track record of borrowing and repaying banks, credit card companies and other lenders.

Factors that Determine Your Rate

Lenders start with the par rate, then look at your risk profile to determine what rate they will offer you.

Rates are usually based on a combination of the following factors:

  • Down Payment
  • Loan terms
  • Loan to Value Ratio (The percentage of the lesser of the sales price/appraised property value that is borrowed from a bank or lender. A down payment of 20% would create a loan-to-value of 80%).
  • Points 
  • Loan Product

Escrow Basics

Escrow Payment– That portion of a mortgagor's monthly payments held by a lender or servicer in an account to pay taxes, hazard insurance, mortgage insurance, lease payments, and other items as they become due. Also called impounds or reserves in some states.

An Escrow Account on your loan allows PNC to make payments for certain bills related to your property, such as real estate property taxes, homeowners insurance, flood and other property related insurance, and mortgage insurance. Home buyers are generally required to have an escrow account until a certain loan to value ratio is met.

Escrow Analysis– The periodic examination of escrow accounts to determine if current monthly deposits will provide sufficient funds to pay taxes, insurance, and other bills when due.

Your annual Escrow Analysis Statement contains all the information you need to understand your previous and projected mortgage payments. 

Getting Pre-Approved[1]

Learn how this simple step could help you get the home you want.

House hunting? Getting pre-approved[1] by a mortgage lender can be a smart move, because you'll:

  • Know in advance exactly how much you can borrow, so you won’t waste time looking at out-of-reach properties
  • Be able to better estimate monthly mortgage payment and budget around it
  • Show real estate agents and sellers that you're serious – giving yourself an advantage over other buyers

You can often get a commitment letter from your lender in as little as 48 hours, once your paperwork is complete.

Mortgage Application Checklist

Use this list to gather what you need to apply for a home loan

To apply for a home loan, you’ll need to provide information about your income, assets and debts, plus any circumstances that may impact your ability to repay. 

Be prepared to provide some or all of the items below:


  • Pay stubs for the last 30 days
  • W-2 forms for the last two years
  • Child support/alimony - Child support agreement and/or divorce decree and/or 12 months 
  • Award letter/1099 for social security, pension and disability


  • Signed, completed tax returns for the past two years, including personal, partnership, and corporate, if applicable, including all schedules.
  • Year-to-date business profit and loss statement for current year, if more than three months have passed since the end of the tax year
  • Current balance sheet


  • Original bank statements for the last three months, including savings, checking, and investment accounts
  • Stocks and securities account statements for the last three months
  • Closing Disclosure or Listing Agreement if using funds from the sale of property
  • Sale of asset – proof of ownership, proof of sale, and proof of funds transfer
  • For gift funds – a gift letter, evidence of transfer, and sometimes evidence of withdrawal


  • Cancelled rent or mortgage payment checks for the past 12 months, if not available on credit report
  • Copy of land contract, if applicable
  • Child support/alimony
  • Bankruptcy/Consumer Credit, if applicable


  • Purchase agreement, including legal property descriptions and any addendum
  • Explanation of discrepancies on credit

I've Submitted My Application- Now What?

Once you’ve submitted your home loan application, it’s important to understand what to expect along the way. Your PNC Mortgage Loan Officer and home lending team will assist you from application through the closing process.

Here’s the steps you will go through:

Step 1: Loan application Submitted

Step 2: Loan Estimate and Intent to Proceed

Step 3: Submitting Documentation

Step 4: Loan Decision

Step 5: Final Approval

Step 6: Closing

For a more detailed version of these steps, please check out the Application Through Closing article.

Payment Methods

Main Details

How Does It Work?

PNC Online Banking Pay your mortgage online using PNC Online Banking. It's free, secure and easy to use. You can schedule payments from a PNC deposit account or from an external non-PNC deposit account. Click Make a Payment on your account activity screen in Online Banking.
Automated Payments Enroll in the Automated Payment Program and have your monthly payment automatically deducted from any deposit account, including deposit accounts at other banks. Download, complete, and return the Automated Payment Authorization form to the address or fax number listed on the form, or to your local PNC branch.
Pay by Phone Pay your Mortgage by phone from any account, including accounts at other banks. Call PNC Mortgage to make a payment.
Mail Your Payment Paying by mail You’ll need to write your loan number on the appropriate documents and mail them.
In-Branch Payment Paying in branch Payment is accepted in many PNC bank branch during normal branch hours and is effective as of the date payment is made, although it may take up to 2 business days for the payment to be reflected on your account.
Bi-Weekly Automated Payments Helps you pay off your loan faster and reduce the total interest you will pay on your mortgage. A draft in the amount of half of your monthly payment is made every 2 weeks and held in escrow. A payment is applied after there are sufficient funds to make a complete payment, resulting in 13 payments being made in a year.

Need More Information?

From first mortgage to home equity, from setting up your online account to payment processing – explore the Understanding Home Lending Center to find the answers you need.

We Are a Trusted Partner

You can feel confident choosing us as your financial partner for this important milestone in your life.

Whether you need to start the home buying process, looking for a preliminary preapproval[1] or need help after the closing, we’re available online, on the phone or face-to-face in your neighborhood branch. We’re with you every step of the way. We service most of our customers’ home mortgage loans

Applying with PNC

Mortgage Made Easy

Getting a mortgage doesn't have to be intimidating. Find out how the process works, from getting prepared to closing.

Have questions? Want to learn more?

Home Insight© Planner

Find a Home in Your Budget

Use Home Insight Planner to find a home that fits your budget and needs:

  • See what you can afford with home affordability scenarios based on your actual budget information.
  • Get a clear view of your spending habits and adjust your expenses so you can find a home payment that works for you. 
  • Search for homes within your budget and save the ones you like as part of your customized home affordability summary. 
  • See real-time mortgage rates and learn which mortgage products can make homeownership a reality.


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