Adjustable Rate Mortgage Loans and Rates

A set rate mortgage for a defined period of time, which will adjust later.

If you’re buying a home and want initially lower payments than a fixed rate mortgage, consider an Adjustable Rate Mortgage.

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We're 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.

Facts & Figures

If you’re buying a home and want lower payments than a fixed rate mortgage may provide, consider an Adjustable Rate Mortgage (ARM) from PNC Mortgage. With an ARM, you’ll start out with a lower interest rate than a fixed rate loan and, after a predetermined number of years, your rate may change (higher or lower) and will continue to adjust on a regular basis until you pay off your mortgage.

  • Lower payments for the first years of a loan
  • Ideal if you’re expecting an increase in income, are willing to accept future interest rate risk, or don’t plan to own the home for a long period
  • Adjustable rate loans are available in periods of 7 and 10 years during which the interest rate remains unchanged, followed by an adjustment period in which the interest rate may increase or decrease on an annual or semi-annual basis, dependent upon the product, resulting in a change in your monthly payment amount.

Costs & Fees

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

Home Insight® Planner

Set your budget. Search for homes. See real time rates.

  • Create a household profile to generate home affordability scenarios
  • View finances and adjust categorized expenses to find payment budget
  • Connect budgets, rates, products, and homes to understand what you can afford
  • Search for homes within your budget
  • Save homes you want as part of your home summary

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Adjustable Rate FAQs

Top customer questions about adjustable rate mortgages.

What is an Adjustable Rate Mortgage?

An Adjustable Rate Mortgage (ARM) is a loan with an interest rate that periodically adjusts to reflect current market rates. The amounts and times of adjustment are agreed upon in a document called an Adjustable Rate Note, which is signed by the borrower.

Making Your Payments

 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.

Ready to Get Started? Let's Talk

Discuss your preferences, learn more about your loan options.

Online:

Provide some preliminary information to begin the loan process today!

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With a Loan Officer:

We are available at branches nationwide to discuss your preferences, learn about your loan options, and see if you're pre-approved.

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Important Legal Disclosures and Information

  1. Preliminary preapproval is not a commitment to lend, a condition of loan approval or an application for credit.

  2. PNC Mortgage pay by phone transactions are free via our automated phone service or with agent assistance.

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® and 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.

For Adjustable Rate Mortgages loans ("ARMs"), rates may increase after settlement.

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