PNC Home Mortgage

PNC Home Mortgage Review

PNC Home Mortgage is offered by PNC Bank, a bank founded in 1845 and based in Pittsburgh, PA. PNC Home Mortgage is available in 50 states (and Washington, DC).

Key Takeaways

• 3 different mortgage programs offered. PNC Home Mortgage offers FHA, VA, jumbo, conforming, and conventional mortgages.
• Financing for a variety of property types. Offers home loans for manufactured, single, and multi-family homes.
• Standard interest rates types. PNC Home Mortgage offers adjustable-rate mortgages and fixed-rate mortgages.
• Considers personal use and investment properties. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
• No origination fee. PNC Home Mortgage does not charge a fee for processing your application on some loan options.
• High maximum LTV ratio. PNC Home Mortgage has a maximum loan to value ratio of 97%, which is higher than average. Most lenders want you to have at least 20% equity.
• Fair credit accepted. Borrowers with a credit score as low as 600 may qualify for PNC Home Mortgage.
• Maximum DTI ratio. PNC Home Mortgage has a maximum debt-to-income ratio of 36%. Your DTI is calculated by dividing your monthly debts (including your proposed mortgage payment) by you monthly income and multiplying by 100.

PNC Home Mortgage Pros & Cons

PNC Home Mortgage FAQ

How much can you borrow via PNC Bank?

PNC Home Mortgage allows borrowers to apply for loan amounts of up to $5,000,000. Note that the maximum loan amount you can borrow will also vary depending on the type of mortgage you choose, regardless of the lender you choose.

What is the maximum loan term you can get with PNC Home Mortgage?

PNC Home Mortgage offers mortgages with terms ranging from 10 to 30 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What mortgage rates does PNC Bank offer?

Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.

PNC Home Mortgage offers home loans with APRs starting at 2.138% .

Do they charge mortgage origination fees?

No, PNC Home Mortgage does not charge a mortgage origination fee.

Some lenders charge an origination fee for processing, underwriting, and funding a mortgage. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does PNC Home Mortgage charge prepayment fees?

No, PNC Home Mortgage does not charge prepayment fees. This means you will not have to pay additional fees if you decide to repay the mortgage early.

What mortgage programs are available?

Besides conventional mortgages, PNC Home Mortgage offers the following mortgage types:

• FHA loans: FHA loans are mortgages insured by the FHA. They offer competitive mortgage rates and have less stringent eligibility requirements. However, borrowers must pay a mortgage insurance premium. For instance, you can apply for an FHA loan with a credit score as low as 580. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
• Jumbo loans: Any mortgage with a loan amount above the conforming loan limits set by the Federal Housing Finance Agency ($548,250 as of 2021).
• VA loans: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses. VA loans offer competitive mortgage rates, and don't have a minimum credit score. However, the mortgage lenders that offer them will typically require a credit score of at least 640.

What property usage types does PNC Home Mortgage allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. PNC Home Mortgage allows the following property usage types: 

• Primary home
• Secondary homes and vacation properties
• Investment properties and house flipping projects

What is the customer service phone number?

The customer service number for PNC Home Mortgage is (888) 762-2265.

What is the support contact email?

The support contact email for this business credit card is info@pnc.com.

How do people rate the customer service and user experience?

Overall, this business credit card is strongly recommended based on community reviews that rate customer service and user experience.