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PNC Bank Mortgage review: how does it work and is it good?

If you dream of buying your own house but don't have much money to start, the PNC Bank Mortgage review can be a lifesaver. Read on to understand how this loan works and how you can start with a 3% down payment. Check it out!

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PNC Bank Mortgage: Loan options for low and moderate income

PNC Bank logo
Learn how to get a mortgage with PNC Bank. Read on! Source: PNC Bank

Are you in the market for a mortgage loan? If so, you should consider this PNC Bank’s mortgage review to understand how the process works and if it’s a good option for you.

PNC Bank logo

How to apply for PNC Bank Mortgage

Are you looking to apply for a PNC Bank Mortgage? Check out our easy online application process – find out how to get started here.

This post will show you their products, discuss the pros and cons, and much more. Ready to get started? Let’s dive in!

Credit Score620 or higher.
Loans OfferedPurchase, Refinance, Home Equity, Jumbo, Fixed, Adjustable, FHA, VA, USDA.
Minimum Down Payment3%.
APRThe APR varies according to the loan amount and terms.
TermsUp to 30 years.

What is the PNC Bank Mortgage?

Home loan / reverse mortgage or transforming assets into cash concept : House model, US dollar notes on a simple balance scale, depicts a homeowner or a borrower turns properties / residence into cash
Are you thinking about buying your home with PNC Bank Mortgage? Read on to understand how it works. Source: Adobe Stock

PNC Bank offers mortgages for low and moderate-income borrowers interested in buying a property.

Before getting a loan, the applicants must take and complete a home buyer education class.

Also, a standard down payment for a loan with them is required, which is 3% of the property’s value.

The PNC Bank Mortgage has options with fixed-rate loans with terms of 30, 20, 15, or 10 years.

In addition, they offer adjustable rate loans, which start as a fixed rate but become variable once it’s passed seven to ten years of terms.

This adjustment is typically made once or twice a year.

PNC Bank also offers a variety of other mortgage products, including Jumbo loans, FHA/USDA, and VA loans.

PNC’s rates and fees might vary by loan type, but they’re typically 3% – 5%. They also have some discounts for purchase customers.

Is the PNC Bank Mortgage good?

PNC Bank Mortgage is good for those who need a loan but don’t have a high income.

To make a smart choice before closing a deal, it’s always important to keep an eye on the pros and cons. Below, you’ll find them.

Pros

  • You can apply online or in person;
  • It is available for low-income borrowers;
  • There are grant options for eligible applicants.

Cons

  • There are no renovation mortgages;
  • The in-person service is only available in some states.

Multiple personalized credit card offers

Applying won't hurt your credit score

You will be redirected to another website

Does PNC Bank Mortgage check credit scores?

Your credit score should be checked to get a mortgage from PNC. You’ll need an excellent FICO score of at least 620 – preferably higher.

Want to apply for the PNC Bank Mortgage? We will help you!

If you don’t have the highest income, we hope the PNC Bank Mortgage review has helped you understand if this can be an option for you.

Check out our post below and learn how to apply for a loan with them.

PNC Bank logo

How to apply for PNC Bank Mortgage

Are you looking to apply for a PNC Bank Mortgage? Check out our easy online application process – find out how to get started here.

About the author  /  Suzana Brito

I'm a Language Studies graduate and have always been interested in writing and sharing knowledge. By creating content about finances and related products, I believe in contributing to people achieving financial freedom and their goals in life.

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