
Aven
4.6 Bankrate ScoreLearn more about Aven
PNC stands out for its competitive borrowing limits, lack of draw requirements and the option to fix the interest rate on all or part of its HELOCs. However, customers may want to choose another option because of PNC’s higher-than-average APR, HELOC fees and limited availability in every state.
With roots dating back to 1865, Pittsburgh-based PNC Financial Services Group is one of the largest diversified financial services institutions in the U.S. and a leading home equity loan originator. In contrast to the online-lender trend, PNC maintains a robust brick-and-mortar presence, with a network of approximately 2,300 branches throughout the country.
In 2024, PNC Bank expanded its footprint, announcing plans to open over 200 new branches and renovate 1,400 existing locations throughout the U.S.
PNC scores a 2.6 out of 5 for affordability because of its higher rates and numerous fees.
PNC earns a strong 4.5 out of 5 for availability because of its seven-figure credit lines and lack of a minimum draw.
PNC scores a 4.7 out of 5 for borrower experience due to its variety of contact methods and ability to convert your variable rate HELOC to a fixed rate loan.
You can tap into your home equity — the difference between your home's worth and what you owe on your mortgage — with a home equity loan or a HELOC. With those funds, you can tackle a variety of expenses, like debt consolidation or home renovations.
However, before you dive in, it's important to figure out your loan-to-value ratio (LTV). Lenders use your LTV to determine how much of your equity stake you can actually borrow. (It’s typically 80 percent, although some lenders allow you to access as much as 90 percent.) The amount of equity they’ll let you tap is one consideration when choosing a lender. Be it a retail bank, online lender or credit union, it may offer different home equity loan rates and terms, too. That’s why it’s important to shop around for the best deal.
PNC gets an A+ rating with the Better Business Bureau but is not accredited by the BBB. Trustpilot gives PNC a 1.3 rating based on more than 1,300 reviews.
When discussing PNC, customers on Bankrate use the word “love” a lot, especially for its customer service, with multiple reviewers saying its staff is “professional” and “great to do business with” (“I liked that I was dealing with a local representative that I could sit and meet face-to-face,” one noted) Feedback on the application process is mixed, with some calling it “quick” and “relatively simple” while others deem it “a little daunting” with “lots of paperwork to sign.”
PNC Bank offers home equity lines of credit (HELOCs) for loan amounts ranging from $10,000 to $1,000,000. Its Choice Home Equity Line of Credit (CHELOC), a first-lien HELOC product, allows well-qualified borrowers to obtain a credit line of up to 89.9 percent of their home’s value. Borrowers in certain states might only qualify for a line up to 80 percent or 85 percent on a second-lien HELOC.
The draw period for a HELOC from PNC is 10 years and the repayment term lasts up to 30. PNC does require you to repay both principal and interest during the draw period, although you might be eligible for interest-only payments, depending on your credit.
The interest rate on the HELOC is variable; however, for $100, you can convert to a more predictable fixed rate, with a repayment term of five years to 30 years. To be eligible for this option, you’ll need to convert at least $5,000 of the balance.
Regardless of whether your PNC HELOC has a variable or fixed rate, your APR won’t go any higher than 24 percent or any lower than 2.25 percent. You must sign up for automatic payments from a PNC checking account if you want to receive a 0.25 percent interest rate discount after the introductory period ends.
To be eligible for HELOC, PNC will review your credit history and confirm your employment, income and assets. PNC will also order an appraisal to assess the value of the home. You need at least 10.1 percent equity in your home to qualify.
When you’re ready to apply for a HELOC with PNC, you can do so online, at a local branch or by calling 855-762-9545. Representatives are available Monday through Thursday, 8 a.m. to 10 p.m. ET, Friday, 8 a.m. to 6 p.m. and Saturday and Sunday, 8 a.m. to 5 p.m. ET.
Once PNC has reviewed your application and credit history, you can upload your documents and track your application progress. PNC will then verify your income and home’s value. Once approved, PNC will set up a time to close on the loan.
Selected lender
![]()
NMLS: 446303
Bankrate score
3.9
Bankrate scores are objectively determined by our editorial team. Interest rates, fees, loan terms, borrower requirements and customer service are some of the factors that make up Bankrate's score.
Customer score
4.5
Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate. To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.
|
![]() NMLS: 401052
Bankrate score
4.9
Bankrate scores are objectively determined by our editorial team. Interest rates, fees, loan terms, borrower requirements and customer service are some of the factors that make up Bankrate's score.
Customer score
2.6
Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate. To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.
|
![]() Bankrate score
3.8
Bankrate scores are objectively determined by our editorial team. Interest rates, fees, loan terms, borrower requirements and customer service are some of the factors that make up Bankrate's score.
Customer score
N/A
Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate. To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.
|
---|---|---|
Loan amount |
||
$10,000-$1 million |
$25,000-$1,000,000 |
$10,000 minimum for home equity loan; $25,000 for HELOC |
Min. credit score required |
||
Undisclosed |
700 |
660 |
Repayment terms |
||
10-year draw period and up to 30-year repayment term; 5 years to 30 years for fixed-rate option in most states |
10-year draw period and 20-year repayment term for HELOC (5-year to 20-year repayment term for fixed-rate HELOC); 5 years to 20 years for home equity loan |
10-year draw period and 20-year repayment term for HELOC; 5-30 years for home equity loan |
Funds available in |
||
10 days |
Undisclosed |
2.5 days |
Recent customer review |
||
Terrible I closed on a PNC Heloc in Jan 2025 for $200,000. I started out with a $30,000 draw when i closed. I ended up paying this off within 2 weeks, and paid my balance down to 0. I start... Shaun O. |
The absolute worst HELOC underwriting ever! Hello- I have been in underwriting for five weeks. I'm 62, I've been through about 15 mortgage applications. I can assure you that they don't have a clue what they are doing. ... Jim . |
Customer review No reviews available yet. N/A |
NMLS: 446303
4.5
23 ratings
91% of customers would recommend this lender.
The consumer reviews posted on Bankrate.com ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews.
Bankrate cannot guarantee or verify the accuracy of the opinions shared by individual reviewers, and reserves the right to reject or remove any review, at any time, for any reason at Bankrate’s sole discretion, including but not limited to those that Bankrate deems inappropriate, fraudulent, invalid, irrelevant, or otherwise outside the parameters of the Bankrate Review Guidelines, the Privacy Policy, or the Terms of Use.
In addition to collecting reviews on-site, Bankrate collaborated with third-party Slice MR to survey 450 users nationwide in July 2024. Bankrate and Slice MR collected, averaged and presented responses to nine questions. Users received an incentive for their feedback. Responses are based on individual experiences, and therefore cannot be verified for accuracy. Submissions with user ratings that are materially inconsistent with written sentiment have been removed. User ratings are unedited and have not been reviewed or approved by lenders, nor do these ratings reflect Bankrate’s own reviews of these lenders.
To help serve you with relevant information, the consumer reviews shown below are limited to only those that this advertiser has received during the past 12 months.
Simple application process?
Closed loan with this lender?
Received funds when promised?
Would you recommend this lender?
Simple application process?
Closed loan with this lender?
Received funds when promised?
Would you recommend this lender?
Terrible
Shaun O.
VA (May 8, 2025)
I closed on a PNC Heloc in Jan 2025 for $200,000. I started out with a $30,000 draw when i closed. I ended up paying this off within 2 weeks, and paid my balance down to 0. I started to get alerts from PNC that I had a payment due. I had a new charge for the annual fee and interest. I made a payment for the annual fee. The system would not let me pay the interest. The system was actually showing an account balance of $0 in 2 places, but was showing an amount of $14 in one other place. The system would not let me make this payment because it kept saying I had a 0 balance due. I was starting to get past due notices. I called, and the agent could not initiate the payment for the interest. The only thing should could advise was to try again in a few days. I kept trying every day, and after about 5 days, it finally let me make the $14 payment, which finally got my balance to $0 in all places on the account dashboard. After all of that, I got to use my HELOC again, and it was de-activated for the "late payment". Every effort to rectify this situation, i got passed around to multiple departments, and spent hours on the phone through various efforts. Now I have to go into the branch to try to fix my account. This company has a terrible customer dashboard for making payments, and calling customer service is a dreadful experience. I would save yourself the anguish and go with any other mortgage company!!
Simple application process?
No
Closed loan with this lender?
Yes
Received funds when promised?
Yes
Would you recommend this lender?
No
Simple application process?
No
Closed loan with this lender?
Yes
Received funds when promised?
Yes
Would you recommend this lender?
No
I love pnc
Denise L.
601 N GORHAM ST APT I FAYETTE OH (Aug. 24, 2024)
I love pnc
Simple application process?
Yes
Closed loan with this lender?
No
Would you recommend this lender?
Yes
Simple application process?
Yes
Closed loan with this lender?
No
Would you recommend this lender?
Yes
Anonymous Reviewer
(July 1, 2024)
Great
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Anonymous Reviewer
(July 1, 2024)
PNC is a great bank to do business with and very professional too.
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Anonymous Reviewer
(July 1, 2024)
Very responsive. I like the professionalism and quality of the service
Closed loan with this lender?
No
Would you recommend this lender?
Yes
Closed loan with this lender?
No
Would you recommend this lender?
Yes
Anonymous Reviewer
(July 1, 2024)
The application process was a little daunting. Lots of papers to sign and I was working with someone who was basically new to the staff and had to continually consult with a senior member. But all in all, the process went smoothly I was able to access my funds almost immediately and I will continue to do business with PNC
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Anonymous Reviewer
(July 1, 2024)
Pnc has been my bank for the last 3 years ,although there is a long application they are very helpful @@,professional at every junction,our lending officer was and has been always helpful above and beyond to help get the funds er asked for,they or he responds very well back to our communications,professional business and I recommended them
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Anonymous Reviewer
(July 1, 2024)
They were very helpful and informative throughout the whole loan process.
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Anonymous Reviewer
(July 1, 2024)
It was a long time ago and it was transferred but initially it was great.
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Anonymous Reviewer
(July 1, 2024)
everything was explained, but the minimum loan amount was more than needed, so we had to take a larger loan, and the rep. was stunned when i handed her back 10g,s at closing and told her to reduce the balance as we did not need it and to immediately reduce the amount of the balance, she tried to talk us into keeping it, and I explained several times we did not need or want it. She stated it was not against the rules to pay additional at anytime against the principal so I told her here is a check for 10gs, do it.Do not think they liked that idea, and I paid off the loan in two years instead of 10. lol
Closed loan with this lender?
Yes
Would you recommend this lender?
No
Closed loan with this lender?
Yes
Would you recommend this lender?
No