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PNC Mortgage Review 2021

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PNC Bank was created in 1983 from a merger of two Pennsylvania-based banks: Pittsburgh National Corporation and Provident National Corporation.

The lender is headquartered in Pittsburgh and provides a digital presence that offers access to online banking and easy-to-navigate mortgage tools to help you check current mortgage rates, determine an affordable mortgage payment and locate a loan officer.

Working with PNC Bank

PNC is licensed to originate home loans in all 50 states and the District of Columbia. Branch locations are available in 22 states.

Mortgage applications can be started online, by phone or at a local branch. In 2019, PNC originated $11.5 billion in mortgages and $2.3 billion in home equity loans.

PNC Bank borrowing requirements

PNC doesn’t publish information about minimum credit score requirements online, though its most recent weighted-average FICO score was 769 for newly originated loans, according to its 2019 annual report.

PNC mortgage products are available for the following property types:

  • Single-family homes
  • Multifamily homes (two to four units)
  • Condominiums
  • Townhomes
  • Cooperative apartments
  • Manufactured homes

PNC Bank mortgage products


  • Conventional loans. PNC offers 3% down, fixed-rate conventional loans with repayment terms ranging from 10 to 30 years, as well as adjustable-rate mortgages (ARMs) with initial fixed terms of three, five, seven or 10 years.
  • Jumbo loans. Loan amounts up to $5 million and repayment terms from 15 to 30 years are available for jumbo mortgages. PNC offers both fixed- and adjustable-rate options.
  • FHA loans. The Federal Housing Administration (FHA) insures FHA loans, which typically require a minimum 580 credit score to make the minimum 3.5% down payment.
  • VA loans. The U.S. Department of Veterans Affairs (VA) backs VA loans for military members, veterans and eligible spouses. In most cases, no down payment is required.
  • USDA loans. Borrowers with low to moderate incomes may qualify for a home loan backed by the U.S. Department of Agriculture (USDA). No down payment is required, but properties must be in designated rural areas.


PNC offers several options to refinance a mortgage, including:

Home equity loan products

  • Home equity lines of credit (HELOCs). A HELOC is a revolving credit line that works similarly to a credit card. Credit lines start at $10,000.
  • Home equity loans. This loan is paid in a lump sum, and has loan amounts starting at $1,000.
  • Home equity rapid refinance loans. PNC provides this product as a lower-cost way to refinance or tap home equity, which comes with a fixed rate and up to a 30-year repayment term.

PNC Bank special mortgage programs

  • PNC community loans, which require a minimum 3% down payment. No private mortgage insurance (PMI) is required, and standard fixed- or adjustable-rate options are available.
  • Medical professional loans, which cater to doctors, fellows, interns and residents. Loans are available up to $1 million and don’t require PMI.

There are also $1,500 grants available for eligible borrowers who need help covering their mortgage closing costs.

The mortgage application process

  • How to apply. Borrowers can start the mortgage application process online, by phone or in person at a local branch. PNC offers a digital mortgage preapproval process to help applicants determine how much they can afford to borrow.
  • Disclosure process. When applying in person, you will need to bring all required documentation with you to present to the loan officer. For online applications, you can enroll in PNC’s Home Insight® Tracker. This digital tool allows users to keep up with their application status, upload documents, verify application details and communicate with the lending team.
  • Submitting loan for approval. Once your application and all documentation have been submitted and reviewed by your loan officer, your loan will be submitted for approval. PNC will most likely order a home appraisal during this point in the process.
  • Final approval. Once the loan receives final approval, you’ll be cleared to close and can schedule your mortgage closing day.
  • Closing. PNC will provide you with a closing disclosure three business days prior to closing. At the closing, you’ll pay your down payment and closing costs and sign documents to officially buy your home.
  • Servicing. PNC has an in-house loan servicing department and services a majority of the loans it closes. You can make payments and manage your mortgage through your online banking account.

Communication during the process

Once you have applied for a mortgage, your application is assigned to a loan officer and home-lending team. You will receive their contact information so you can call or email them as needed. In addition, when using PNC’s Home Insight Tracker, you can view your home-lending team’s contact information and exchange secure messages with them through this digital tool.

The PNC lending team can be reached at 877-508-3339 Monday through Thursday from 8 a.m. to 10 p.m. ET; Friday from 8 a.m. to 6 p.m. ET; and Saturday through Sunday from 8 a.m. to 5 p.m. ET. You can also fill out an online contact form or find a local loan officer to contact directly.

Pros and cons of a PNC mortgage


  • Lends in all 50 states
  • Offers a range of conventional and government-backed loan options
  • Offers special mortgage programs for borrowers with unique needs
  • Provides a digital mortgage application process


  • Doesn’t have physical branch locations in every state
  • Lacks information online detailing minimum credit score and debt-to-income ratio requirements

Today's Mortgage Rates

  • 2.35%
  • 2.13%
  • 3.10%
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