PNC Mortgage

PNC Mortgage

 4.0/5 (714 reviews)
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About PNC Mortgage

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Based in Pittsburgh, Pennsylvania, PNC Bank is one of the largest banks in the U.S. It has branch locations scattered throughout 29 states and offers checking and savings accounts, credit cards, loans, mortgages and investment services. Some of PNC Bank's most popular accounts are its Virtual Wallet, which is an all-in-one checking and savings account, and its “S is for Savings” account for kids.

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    • Variety of loan types
    • Check rates with no identifying information
    • Homeownership grants and special offers
    • Loan officers available seven days a week


    • Physical branches in only 28 states
    • HELOC not available in all states

    Bottom Line

    PNC Mortgage is a full-service mortgage lender that offers services online and at branches in 28 states. You’ll find many loan options for purchasing and refinancing, plus a HELOC with a choice of a fixed or adjustable rate. PNC lets you see rate estimates with no credit check.

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    Rated with 4 stars

    Good service. … Very flexible and communicative about the entire house-buying process. .... Allow you to keep the same agent for all the application procedures and then when trans...

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    Rated with 5 stars

    My husband and I took out our mortgage in 2001, our mortgage was sold to PNC in 2006 I believe. We have never had any issues with them. The few times we have had to call, they wer...

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    PNC Mortgage lets you check current mortgage rates for home purchase loans on its website by entering the home value, down payment amount, your credit score range and the property ZIP code.

    PNC shows you interest rates and annual percentage rate (APR) estimates for 10-, 15-, 20- and 30-year fixed-rate loans as well as adjustable-rate loans with seven- and 10-year fixed-rate periods. Keep in mind these estimates assume certain debt-to-income (DTI) ratios, loan-to-value (LTV) ratios and other factors.

    In 2022, mortgage rates on 30-year fixed-rate loans have risen to levels not seen since 2008, according to the Federal Reserve Bank of St. Louis. This has made adjustable-rate mortgages (ARMs) more appealing to some borrowers because these loans start with a fixed-rate period that often has a rate lower than a fixed-rate loan.

    The risk with this type of loan, though, is that rates might increase in the future, which will raise your monthly payment. An ARM might be worth considering if you plan to sell or refinance the home before the rate changes, however.

    Over the past three years, PNC Mortgage’s average rate for home purchase loans has remained close to the national average. In 2021, the average rate for this type of loan from PNC was 0.17% lower than the average in the U.S.

    PNC average home purchase rate vs. national average

    YearDifference from national average
    Information pulled from public Home Mortgage Disclosure Act data. Rates reflect noncommercial home purchase loans only.

    Application process

    The application process with PNC starts on the website, where you fill out a questionnaire indicating whether you need a purchase or refinance loan and enter details about yourself and your financial situation. Alternatively, you can work with a loan officer at a PNC branch or call to speak to a loan officer any day of the week.

    Within three business days of completing your application, you’ll get a Loan Estimate with estimated loan terms. If you decide to proceed, your loan officer will request documentation to verify your income and assets and help set up a property appraisal.

    Your loan officer will next notify you of an initial approval decision and then a final approval decision. The closing usually takes place seven to 10 days after the final approval. PNC has a digital tool called Tracker that you can use to manage your application, view the status and send messages to your loan officer.

    PNC Mortgage application features

    Online application
    Mobile document upload
    Physical branches 28 states
    Publishes minimum rate on website
    Rate lock60 days
    Pre-qualification (no hard credit pull)
    Certified approval letter

    Loan types

    PNC Mortgage’s home loan products include the following:

    • Conventional loans
    • FHA loans
    • VA loans
    • USDA loans
    • PNC Community Mortgage (requires only 3% down, allows down payment assistance, doesn’t require private mortgage insurance).

    In 2021, PNC Mortgage received 26,465 applications for home purchase loans. Of these, it closed 17,318 (about 65%) loans.

    Loan applications for home purchases only by year

    Home purchase applications26,46526,77231,423
    Home purchase loans closed17,31816,29018,121
    Home purchase applications denied2,5882,6502,826
    Home purchase preapprovals denied1854051,182
    Information pulled from public Home Mortgage Disclosure Act data. Includes conventional, USDA, VA and FHA mortgages.


    Many homeowners refinanced in 2020 and 2021 due to historically low interest rates. In both years, refinance loans made up a majority of PNC Mortgage loans.

    With higher rates in 2022, fewer people are expected to refinance. Still, you might consider a refinance if it can get you a significantly lower rate than what you’re currently paying.

    Home purchase vs. refinance loans by year

    Home purchase loans18.55%18.08%20.06%
    Refinance loans47.36%50.86%41%
    Cash-out refinance13.01%6.65%6.33%
    Information pulled from public Home Mortgage Disclosure Act Data. Includes conventional, USDA, VA and FHA mortgages.

    HELOC and home equity loans

    If you already own a home, have built up equity and need cash, you might consider PNC’s Choice Home Equity Line of Credit. The CHELOC, as it’s called, gives you the choice of a variable or fixed interest rate and the ability to switch from one to the other during the draw period.

    Depending on where the property securing the loan is located, you can borrow up to 89.9% of the fair market value of the home. The CHELOC is not available in Alaska, Hawaii, Louisiana, Mississippi, Nevada or South Dakota.


    PNC Mortgage does not publish specific mortgage requirements online. The company states that, in general, you should be able to put down 3% of the sale price and that your monthly debts shouldn’t exceed 36% of your gross monthly income.

    National mortgage requirements by type

    Min. credit scoreMin. down paymentCompare with other lenders
    ConventionalTypically 620Typically 3%Mortgage lenders
    FHA5003.5% with 580 credit scoreFHA lenders
    VASet by lender (often 580)0%VA lenders
    USDASet by lender (often 640)0%USDA lenders

    Cost and fees

    According to PNC Mortgage, closing costs range from 3% to 5% of the loan amount. These costs may include the following on a purchase loan:

    • Origination fees
    • Settlement services (fees for appraisals, title search, credit reports, inspections, document recording)
    • Property insurance prepayment
    • Interest prepayment
    • Escrow deposits for taxes and insurance
    • Mortgage insurance
    • Discount points

    For a refinance, closing costs may not include all of the above fees. The company recommends asking about a no-closing-cost option. You can use the calculator on PNC’s website to estimate closing costs on your loan before applying; after you apply, refer to the Loan Estimate for an estimate of all loan costs and fees.


    How does PNC Mortgage work?

    PNC Mortgage breaks down the mortgage process into six steps:

    1. Work with a loan officer to submit an application and supporting documents.
    2. Review your Loan Estimate and confirm you want to proceed with applying.
    3. PNC verifies your income and assets and requests additional information if necessary.
    4. PNC issues an initial loan decision by email or phone.
    5. PNC makes a final approval decision; you may need to submit additional documents as part of this step.
    6. PNC provides the closing date and Closing Disclosure at least three business days before closing date.
    Is PNC Mortgage legit?

    PNC Mortgage is a part of The PNC Financial Services Group. PNC is one of the largest financial institutions in the U.S., with assets over $540 billion as of mid-2022, according to the company.

    Where is PNC Mortgage available?

    PNC Mortgage is licensed to originate loans in all 50 states and Washington, D.C. It has about 2,500 physical branches in 28 states.

    PNC Mortgage Reviews

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    How do I know I can trust these reviews about PNC?
    • 4,212,289 reviews on ConsumerAffairs are verified.
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    • Our moderators read all reviews to verify quality and helpfulness.

    For more information about reviews on please visit our FAQ.

    Page 1 Reviews 0 - 10
    Rated with 1 star
    Verified Reviewer
    Original review: March 13, 2023

    Predatory. They threatened to charge 36k for homeowners insurance when price of policy is 6k. Awful customer service. Awful culture in the institution. They never follow up on their promises or calls. Worst bank I have ever dealt with by far. Go elsewhere!

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    Rated with 1 star
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    Verified Reviewer
    Original review: March 6, 2023

    Ever since this bank took over my mortgage, I have had nothing but problems. They didn't pay my taxes so it went delinquent, I received delinquent letters so I call to ask them and they said they would take care of it, two months later it still was not paid. I turned around and paid it along with the late fees. I called and asked them about it and they did a so-called investigation just to come back and say that my taxes were current. I knew that because I paid for it. Now they send me a letter that my escrow is $2k short so I asked them why they claim that it's because they paid all my taxes. Not, because I paid for it, so they asked me for proof and I send them my information and they still claim that they paid for it. This is the worst mortgage company to deal with.

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      Rated with 1 star
      Verified Reviewer
      Original review: March 4, 2023

      Avoid at all costs! Mortgage was sold to them and, long story short, they’re horrible in every way…Frequently providing inaccurate and conflicting information, typically failing to provide attendants with sufficient notes on account to answer questions, and refusing to provide access to any level of support beyond those attendants. I’m seriously considering getting a new loan, at a worse rate, simply to ensure I never have to deal with again. Don’t get stuck, like me, especially with so many alternatives

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      Rated with 1 star
      Verified Reviewer
      Original review: March 3, 2023

      PNC Bank did not file my signed paperwork to lock in my rate. Had to resign 2 months later & was told I will get my original rate. When it came time for my payment they wanted me to pay the higher rate along with my locked payment. Costing me over $1000 more. Tried to work with customer service for over 3 weeks & got nowhere. Their customer service is horrible. I would not deal with this bank if at all possible!

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      Rated with 1 star
      Verified Reviewer
      Original review: Feb. 10, 2023

      Refinanced with PNC. Paid two month advance payment. A year later changed payment method to twice monthly, paid another two month advance charge. 6 months later I told PNC that I was canceling my homeowners insurance because they were tripling my insurance. Told insurance company too. PNC had paid my escrow a week earlier. PNC then paid my escrow again a month later. They admit that they double paid but because of hurricane claims my problem would have to wait. A week later they doubled the automatic withdrawal from my account. No notice! Severely over drafting my account! They overpaid by 5k and I am screwed for lord knows for how long! Customer service essentially tells me to suck it up until they get around to it! RUN FROM PNC!

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      Rated with 1 star
      Verified Reviewer
      Original review: Dec. 30, 2022

      Nothing but issues with PNC. They didn't pay the insurance renewal from escrow billed to them, then sent me a bill when they bought their own policy. Decided to payoff loan, and it was marked paid in full on their website. There was no place on the website to end auto pays, but hey, the loan was paid in full, right? Wrong! They took another payment after marking my loan paid in full, and said I have to wait 20 days to get a refund. I've had lots of mortgages over the years, but never have I had as many issues as I've had with PNC Bank. Highly advise avoiding them if possible.

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      Rated with 1 star
      Verified Reviewer
      Original review: Dec. 16, 2022

      Unfortunately I cannot tell the story with 200 characters. So, I shall cut to the chase; stay away from this company. They will lure you in with full confidence and assurance. Once you are on the hook they will slow down the process, drag until rates continue to move, make excuses, ask for repetitive information. No matter how cooperative you are, there is always a "but also need ...". Go with a specific mortgage company not a giant bank, all they care is fees and interest. Wasted 60 days. Lost a lower rate I could have had if I didn't fall for these Fraudsters...

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      Rated with 1 star
      Verified Reviewer
      Original review: Nov. 10, 2022

      PNC received my ACH payment then said that my bank did a stop transfer. So I checked with my bank and waited 3 days. My bank said and verified that they had not stop nor received back my funds. I received paperwork from bank, went to PNC to report and give them the paperwork from my bank. PNC then said it has to be your bank or you did something wrong when you set up ACH. I set everything up line their paperwork and customer service said to when I called the verifier I had done it right. Because PNC had just taken over my mortgage acct. Now going on 5 days later. They say it will take up to the 28th of the month to find out where my funds went to. And now I can not even set up next month's payment until this matter is taken care of. Worst customer service I have ever had. They make everything your fault and tell you so.

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      Rated with 1 star
      Verified Reviewer
      Original review: Nov. 9, 2022

      My mortgage was transferred to this bank and from day one I've been having nothing but issues. I was told in a letter that my automatic payments would continue and they included my bank's name and last four numbers of my account. Then a month later I get a letter saying my payment was late and that they don't have that information. I was unable to create an online account to see anything with them and spent hours on the phone. I was then told not worry because I wouldn't have to make a payment for a while due to it being a new transfer. That was incorrect and had to spend more time on the phone with them setting up the automatic transfer.

      I received the forms they requested (by snail mail), mailed it in and still did not got automatic payments the following month. I literally gave up and just send my payments in the old school way and hope it covers the min amount since I'm enrolled in paperless billing but have no access to their online banking. It's a mess and certainly still struggling. I miss my old mortgage company! So simple and stress free.

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      Rated with 1 star
      Verified Reviewer
      Original review: Nov. 2, 2022

      My loan was sold to PNC from AmeriSave as these things happen. I'm writing this review as I'm still on the phone with them to provision my account. I'm on my fourth person trying to help me. Each time, the person said they would get me some help, they just forward my call to the next person with no information, which means that I have told my story starting with my name, account number, blab, blab, blab. This is my first interaction with them. This is not the time to refinance, but as soon as I can, I will.

      3 people found this review helpful

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        ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. To learn more about the content on our site, visit our FAQ page. Specific sources for this article include:
        1. Federal Financial Institutions Examination Council, “HMDA Data Publication.” Accessed Aug. 25, 2022.
        2. Federal Reserve Bank of St. Louis, “30-Year Fixed Rate Mortgage Average in the United States.” Accessed Aug. 25, 2022.

        PNC Mortgage Company Information

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