Your PNC Loan Officer and your home lending team will assist you from application through the closing process. But here’s an overview of what you can expect:
Step 1: Loan application Submitted
You’ve worked with a PNC Loan Officer to submit your home loan application and supporting documentation.
Step 2: Loan Estimate and Intent to Proceed
- PNC will provide your Loan Estimate three (3) business days after we receive your application.
- Your Loan Estimate outlines the terms of your loan, including the loan amount, interest rate, projected payment and closing costs.
What you need to do: If you haven’t already, contact your Mortgage Loan Officer to confirm that you want to proceed with your application. Please sign and return the forms enclosed in your welcome package and any additional documentation requested.
Step 3: Documentation
- Your Mortgage Loan Officer will work with you to verify your loan income and/or assets
- Buying: If an appraisal of your home is required, the appraiser will contact the seller's realtor to schedule schedule an appointment.
- Refinancing: If an appraisal of your home is required, the appraiser will contact you to schedule an appointment.
What you need to do: If you receive a request for additional information, it’s important to respond as quickly as you can or your closing date may be impacted.
Step 4: Loan Decision
- After we’ve reviewed your loan application, your Mortgage Loan Officer will notify you by phone or email to provide initial approval of your loan.
- If your loan is not approved, you’ll receive a letter explaining the decision.
What you need to do, as applicable: Insurance needs to be in place prior to final loan approval. Now’s the time to decide on homeowner’s, flood and other coverage. Please see below for more on types of insurance and insurance FAQs.
Step 5: Final Approval
- Your Mortgage Loan Officer will call or email you regarding your loan status and final approval.
- All loan conditions and requested information needs to be received prior to final approval. Closing typically takes seven (7) to ten (10) days after the final approval.
What you need to do: In some cases, we may ask for additional documentation prior to final approval. If requested, it’s important to act as quickly as possible.
Step 6: Closing
- PNC will provide your closing date along with your Closing Disclosure so that you receive this information three (3) business days before the closing date. Your Closing Disclosure includes details on the terms of your loan, including the loan amount, interest rate, expected payments, closing costs and more.
- For the closing, you’ll need to bring your homeowner’s insurance policy and other required insurance policies, a certified check for all closing costs and valid photo ID.
- Please check out our Closing Costs section below for more information.
What you need to do: Let your Mortgage Loan Officer know immediately if any changes need to be made to your Closing Disclosure. This could delay closing.
Want to track your application?
Home Insight Tracker keeps you informed during each step of the mortgage application process. Upload documents to complete your application and exchange secure messages with your home lending team.
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Additional Resources:
Learn more about recent home lending regulatory changes, how these changes impact you and the home buying process. Visit the Consumer Financial Protection Bureau consumerfinance.gov and the Mortgage Bankers Association.
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