Home Equity Loans

Use your home equity to consolidate debt, make home renovations or finance a major purchase[1].

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Check Current Home Equity Rates*

Why choose a Home Equity Installment Loan

A Home Equity Installment Loan is a smart choice when you need to borrow a specific amount and want the stability of a fixed payment. Benefits include:

  • Enjoy a fixed rate for the life of your loan, with options up to 30 years
  • Interest rate that’s often lower than a credit card or personal loan
  • Closing costs that are typically lower than a mortgage refinance

Why choose PNC

In addition to competitive rates, you'll also enjoy:

  • 0.25% interest rate discount when you set up and maintain automatic payments from a PNC checking account[2]
  • Fast and easy process to see if you're approved.


Home Equity Basics

A Home Equity Installment Loan is a great option for home improvement projects, debt consolidation, one-time purchases and more.  It provides access to your funds and the stability of a fixed rate and payment during the life of the loan.

Not sure if a home equity installment loan is right for you? Use our tools and calculators for a better understanding of how a home equity installment loan may assist in meeting your financial needs..

Ways to Apply

  • Online through the website
  • By phone: 1-877-535-6319 (Monday – Friday 7 a.m. to 10 p.m. ET, Saturday – Sunday 8 a.m. to 5 p.m. ET)
  • In person at a branch

What you need to apply with PNC

Find Out What To Expect When You Apply

Submit Your Credit Application
Apply for a home equity line of credit or home equity installment loan application online, by calling 1-877-535-6319 or by visiting a PNC branch.

The minimum amount of information you should be prepared to answer at the time of application includes:

  • Personal Information (Full name, Social Security number, Date of Birth, employment status, income)
  • Contact Information (phone, email)
  • Property Information (address, property type, estimated property value)
  • Requested Loan Amount

Upon submission of your application, PNC will obtain and review your credit history. Approval for credit is contingent upon your credit history and other factors.

Provide Required Documentation
Additional information and other required documentation may be needed to process your credit application. Depending on your individual financial situation, you may be required to provide some or all of the following:
  • Tax statements
  • Copies of pay stubs
  • Financial statements (bank and asset)
  • Information on additional properties you may own

Click here for a list of possible documentation, depending on your individual situation.

Documentation, Credit History and Property Valuation Review

We’ll evaluate your credit history, verify your employment, verify your income, and review all supporting documentation submitted.

We’ll verify ownership and complete a valuation of the property being pledged

as collateral by ordering an appraisal from an independent service provider, who will always inspect and photograph the property’s exterior. In some cases, this independent service provider may call you to setup a time to inspect both the property’s interior and exterior. A review of all information will enable us to determine that you meet the qualifications for the credit product for which you applied.

Final Credit Decision

If your request for credit is approved, we will communicate the final approval or a counter-offer to you, detailing any closing stipulations. For example, updating the declaration page of the Homeowner’s Insurance Policy listing PNC Bank, NA as loss payee is required. We’ll then schedule a closing date and verify the amount(s) to be disbursed, if applicable, including the amount(s) of any required payoffs.

If we are unable to approve your request for credit, you will receive a communication indicating the reasons for the decline.

Loan Closing and Disbursement of Funds

At closing we will require two forms of identification; one must be a valid photo ID. After reviewing the terms and conditions of your line of credit or installment loan, you will be asked to acknowledge and accept those terms and conditions by signing loan documents.

When using a primary residence as collateral, a three business day right to cancel (“rescission”) period is required by law to allow applicants the opportunity to cancel their home equity line of credit or home equity installment loan application.

Once your right to cancel period has expired, the funds from your home equity line of credit will be available or the funds from your home equity installment loan will be disbursed.

Frequently Asked Questions

Answers to questions about home equity loans with PNC

Frequently Asked Questions

What is a home equity loan?

A home equity installment loan is a one-time loan secured by your home that provides homeowners the ability to borrow a single lump sum against the available equity in their home. Both the interest rate and monthly payments are fixed, ensuring you have a predictable repayment schedule for the life of the loan.

How much can I borrow?

Banks typically set a maximum loan-to-value (LTV) limit for how much you can borrow. At PNC, the maximum allowable LTV is 84.9%, and in some geographies and loan scenarios, it is lower. To figure out how much you can borrow, you must know three things: 1) your home's value, 2) the sum of all mortgage loans that you have on the property, and 3) the maximum LTV established by your lender. For example, let's assume a home is valued at $200,000, the maximum LTV is 84.9%, and there are $120,000 in mortgage loans already owed on the property. Just multiply the home's value ($200,000) by the LTV (84.9%) to calculate the maximum borrowing limit, which in this case is $169,800. Then subtract out the loans already on the property ($120,000) to know how much equity is remaining. In this example, you could borrow up to an additional $49,800.

What will my rate be?

Rate is calculated based on a variety of factors, including credit qualifications, loan-to-value, loan amount and other criteria. The best available rates include a discount for automatic payment from a PNC checking account[2].

Is my interest tax deductible?

Interest on home equity loans/lines that are not considered home acquisition debt may not be tax deductible. Please consult your tax advisor.

What property types are eligible for Home Equity Lines of Credit or Home Equity Loans?

Single-Family Primary Residence; Vacation, 1-2 Family Homes, Condos, and Townhouses

Is there a prepayment penalty if I payoff my Home Equity Loan?

There is no prepayment penalty imposed for paying off your home equity installment loan account at anytime. However, certain closing costs may be paid by PNC on your behalf at the time of your loan closing. You may be responsible for reimbursement of those costs if you pay off your loan within 36 months of closing. If the loan is paid off 36 months after closing, repayment of these costs is not required.

How fast will I get my money?

Funds are normally disbursed on the fourth business day after you sign your loan documents. This is because Federal regulations require a 3-day rescission period during which time you have the right to cancel your loan.

Ready to Apply? Let's Talk

Discuss your preferences, learn more about your options, or apply online in as little as 15 minutes!

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Learn how you can leverage your home's equity with PNC's Home Equity Loans and Lines of Credit.

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Home Equity Explained

Learn how you can leverage your home's equity to remodel your home, consolidate debt, tuition and more.


Important Legal Disclosures and Information

  1. Credit is subject to approval.

  2. Discount only applicable as long as payments are set up for automatic deduction from a PNC checking account. The removal of any discount, such as auto deduction or employee, will increase the rate.

  3. Interest on home equity loans/lines that are not considered home acquisition debt may not be tax deductible.  Please consult your tax advisor.

*Advertised rates for the Home Equity Installment Loan, Choice Home Equity Line of Credit and Home Equity Rapid Refinance Loan include a 0.25% interest rate discount for automatic payment from a PNC checking account. 

Bank deposit products and services provided by PNC Bank, National Association. Member FDIC

PNC is a registered service mark of The PNC Financial Services Group, Inc. (“PNC”). All loans are provided by PNC Bank, National Association, a subsidiary of PNC, and are subject to credit approval and property appraisal.

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