Which home loan is right for you? Review this chart to see how things like your loan terms, your down payment and other special circumstances could be a factor.

 

Fixed Rate Mortgage

  • Predictable monthly payments for the life of your loan
  • Loan terms between 8 and 30 years
  • Down payments as low as 3% of purchase price
  • Single family loan amounts up to $417, 000
 

Adjustable Rate Mortgage*

  • Lower payments for the first years of your loan
  • Rate is set for a predetermined period, then will reset with a new rate that can be either higher or lower depending on market conditions at the time the adjustment occurs 
  • Could be ideal if you’re expecting an increase in income, or planning to live in the home for a short period of time
 

Jumbo Loans

  • For home loans between $417,000 and $3 million
  • Loan terms between 8 and 30 years
  • Fixed rate, adjustable rate and interest-only payment options 
 

FHA Loan

  • Down payments as low as 3.5%
  • Seller can assist with up to 6% of purchase price toward closing costs
  • Fixed and adjustable rate options

Combination Loans

  • Put down as little as 10% and finance a 20%+ down payment with a first and second mortgage package
  • Lower your monthly payment by eliminating private mortgage insurance (PMI)
  • Interest payments on both loans may be tax-deductible

VA Loans

  • If you are active military, veteran, reservist or National Guard member
  • No down payment required
  • Fixed rate and adjustable rate payment options are available

FHA 203K Loans

  • Finance up to $35,000 of non-structural home improvements
  • Down payments as low as 3.5%
  • Fixed or adjustable rate loans are available
  • Avoid separate bills for mortgage and renovation costs

Specialized Loans

Individual circumstances may make a specialized loan the best choice for you:

 

  • Medical Professional Loan - If you are medical professional just starting your career
  • PNC Community Mortgage - For borrowers in designated areas that meet income criteria
  • Rural Housing Loans - If you want to buy a home in a specifically designated rural area
  • Canadian Foreign National Loan - If you are a Canadian citizen looking to purchase a second home in the US
  • Affordable Lending Programs – Loans for specific market areas based on geographic location and income limits.


* PNC is a registered service mark of The PNC Financial Services Group, Inc. (“PNC”). PNC Mortgage is a division of PNC Bank, National Association, a subsidiary of PNC. All loans are provided by PNC Bank, National Association and are subject to credit approval and property appraisal. Terms and conditions of this offer are subject to change without notice. Rates may increase after settlement.  ©2014 The PNC Financial Services Group, Inc. All rights reserved. Member FDIC