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 lower payments than a fixed rate mortgage, consider an Adjustable Rate Mortgage.

Ready to Apply?

Provide preliminary information to start the pre-approval or loan process.


Let's Talk

Discuss your options with a mortgage loan officer.


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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 a mortgage pre-approval[1] or help after the closing, we’re available online, on the phone or face-to-face in your neighborhood branch. Here’s what you can expect from us:

  • Pre-approval Services – So you can house hunt with confidence knowing how much you can afford.
  • Online Application Support — Home Insight® Tracker lets you track and update your application, through every step of the approval process. 
  • Service After the Closing – 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 3, 5, 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

Try Out PlannerLearn More

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.

Getting Pre-Approved

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

Getting Pre-Approved[1]

 

 

 

 

 

 

 



 

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.

Or start the process with a pre-approval »

 

 

Making Your Payments

 Payment Methods

Main Details

How Does It Work?

Cost

PNC Online Banking Pay your mortgage online using PNC Online Banking. It's free, secure and easy to use. With the Transfer Funds feature you can schedule payments from PNC accounts or accounts at other banks. Or use Online Bill Payment to set up a payment from a PNC checking account. Free
Automated Payments Pay your mortgage using automated payments from any account, including accounts at other banks. Schedule recurring monthly automated payments and stop worrying about missing deadlines. Free
SpeedPay Pay your mortgage using SpeedPay from any account, including accounts at other banks. By logging into your account online or calling PNC Mortgage, you can make an immediate payment. $7 or free from a PNC account[2]
Mail Your Payment Paying by mail You’ll need to write your loan number on the appropriate documents and mail them. Free
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. Free
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. Free

Ready to Apply? Let's Talk

Discuss your preferences, learn more about your loan options, and see if you are pre-qualified.

Online:

Provide some preliminary information to begin the pre-approval or loan process today!

Get Started Online

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-qualified.

Find a Loan Officer

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?

 

Important Legal Disclosures and Information

  1. Pre-approvals are subject to property underwriting and appraisal. Borrower must satisfy pre-approval conditions outlined in commitment letter. Loan amount subject to property appraisal.

  2. All SpeedPay transactions will require a $7 transaction fee, unless payments are made from PNC Bank accounts or are otherwise restricted by state law.

PNC, PNC HomeHQ, PNC Home Insight, and Home Insight are registered service marks of The PNC Financial Services Group, Inc. ("PNC"). PNC has pending patent applications directed at various features and functions of Home Insight Planner and Home Insight Tracker. 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.

©2020 The PNC Financial Services Group, Inc. All rights reserved. PNC Bank, National Association. Member FDIC

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