Choice Home Equity
Line of Credit

Enjoy the flexibility to access your funds when you need them.

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Why Choose a Choice Home Equity Line of Credit

This is a smart choice when you want the flexibility to borrow what you need, whenever you need it.  Benefits include:

  • Draw from it as often as you want, up to your available credit limit.
  • Draw from line for up to 10 years.
  • Flexible repayment options: interest and principal interest rate that’s often lower than a home equity loan.

Why Choose PNC

  • Get a 0.25% interest rate discount when you set up and maintain automated monthly payments from a PNC checking account.
  • Easy access to funds by check, Online Banking, Telephone Banking, PNC branch, and your Visa® Choice Access Card.
  • Access to your money typically within four days of closing.

Choice Home Equity Line of Credit Basics

A Choice Home Equity Line of Credit provides the flexibility to fit your unique lifestyle. This equity option allows you to lock in a fixed rate on all or any part of your balance. Plus, you only pay interest on the amount you use.

Keep reading for FAQs and information on how to apply for a Choice Home Equity Line of Credit with PNC.

Notary Assisted Closing

With Notary On Call, you can close on your Choice Home Equity Line of Credit wherever or whenever it’s easier for you — including evenings and weekends. Just choose the date, time and place, and we’ll arrange for a notary to meet you with the paperwork you need. 

Here's How it Works

Schedule

Close on your home equity loan or line of credit wherever you want.  At home, at work or in a PNC branch, choose a location convenient for you with our Notary On Call service.  Let us know your preference and we’ll get you scheduled.

Confirm

A representative will call you to confirm the closing time and place.  Additionally, they’ll confirm the name of the notary you’ll be working with to close on your home equity loan or line of credit.

Close

Your notary will come prepared with all of the required documents needed to complete your closing.  Once complete, they will then deliver final documents to PNC for account funding or disbursements as per the agreement.

Notary On Call service is available for Home Equity loans or lines for applications received from February 11, 2019, to May 19, 2019, for loans secured by properties in the states of Florida or Virginia only. The closing must take place in Florida, Virginia or the District of Columbia. Home Equity loans or lines must close by June 30, 2019. If closing is after June 30, 2019, Notary On Call may not be available.

Calculate: What is my home's equity?

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

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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 a Choice Home Equity Line of Credit with PNC

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 to remodel your home, consolidate debt, tuition and more.

Important Legal Disclosures and Information

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

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

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.

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 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.

Read a summary of privacy rights for California residents which outlines the types of information we collect, and how and why we use that information.