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Overall rating of the lender
Advantages and disadvantages
PNC Bank mortgage rates
PNC displays personalized mortgage rates on its website when you enter your zip code and desired loan amount. It displays rates for a variety of fixed rate and variable rate mortgage terms, as well as FHA and VA loan rates.
Take these personalized rates with a grain of salt, however. PNC does not allow you to enter information such as your credit score or the down payment amount at this point, which it will eventually use to determine your rate once you request pre-approval.
PNC rates are comparable to national averages on the Federal Reserve website, so you may be able to benefit from a low rate.
PNC Bank Mortgage Loan Comparison
We compared PNC with two other lenders that offer mortgages in all 50 states: Bank of America and Fairway.
PNC Bank v Bank of America
PNC has more types of home loans than Bank of America, so this will be the obvious choice if you need a mortgage, construction loan, or USDA home equity loan.
You may prefer Bank of America to down payment assistance. PNC has its grant of $ 1,500, but Bank of America has a down payment and closing cost assistance that often results in even more money. Programs vary by state.
PNC Bank vs. Fairway
PNC and Fairway both offer a range of home loans. You will go to PNC for a USDA mortgage, HELOC, home equity loan, or construction loan. But Fairway has reverse mortgages and home improvement loans.
Fairway is the best option if you have a low or no credit rating. Like most lenders, PNC checks your credit score to decide whether or not to approve you for a loan. But Fairway allows you to apply with alternative credit data, such as proof that you pay your bills on time.
How PNC Bank Mortgages Work
PNC provides loans in all 50 US states and Washington, DC. PNC has bank branches across the country, but you cannot apply for a mortgage at a branch – you must apply online.
You can get the following types of home loans through PNC:
PNC does not offer reverse mortgages.
If you are refinancing, you can choose between interest rate and term refinancing or cash flow refinancing. You can also streamline refinancing your FHA, VA, or USDA loan.
Ask the PNC about the PNC Homeownership Grant application. You will receive $ 1,500 to use for purchasing expenses such as closing costs. PNC doesn’t provide a lot of information online, but you can talk to an agent about the grant.
To speak with customer support, call Monday through Thursday 8:00 a.m. to 9:00 p.m. ET, or Friday 8:00 a.m. to 5:00 p.m. ET. Or call Saturday 9:00 a.m. to 2:00 p.m. ET.
Is PNC Bank trustworthy?
Better Business Bureau gives PNC Bank a Note A +. A good BBB rating means that a business responds effectively to customer complaints, has honest advertising practices, and is transparent in the way it conducts its business.
Despite PNC’s excellent BBB score, the bank recently had a public scandal. In 2019, PNC has been accused for helping a man complete a bogus debt relief project that cost clients a total of $ 85 million. In 2014, the PNC suspected the man of leading a scheme and closed his bank accounts. But nine months later, the bank allowed him to open other accounts.
Mortgage and refinancing rates by state
Compare your PNC mortgage rate to the rates for your state below:
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
Caroline from the south
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming
