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PNC: 2025 Home Equity Review

Written by
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Updated on May 14, 2025

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PNC Bank logo
NMLS: 446303
Bankrate score

3.9

Rating: 3.9 stars out of 5
Our methodology
Customer score

4.5

Rating: 4.48 stars out of 5
Read reviews

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PNC overview

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.

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Bankrate insight

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.

How Bankrate scored PNC

Affordability: 2.6/5

  • APR: PNC’s variable APRs skew higher than the national average. 
  • Introductory APR: PNC offers a six-month introductory APR, a fairly typical term.
  • Fees: PNC charges a $50 annual fee on HELOCs in most states. Customers in California, North Carolina and New York will also have to pay an origination fee, which can run as high as $499. If you decide to convert all or some of your variable-rate HELOC to a fixed rate the bank charges a $100 fee. You won’t have to pay this fee if you convert to the fixed rate when you initially obtain the line of credit, however. 

PNC scores a 2.6 out of 5 for affordability because of its higher rates and numerous fees. 

Availability: 4.5/5

  • Loan products: PNC Bank only offers HELOCs, but they can be converted to fixed-rate loans. Its $1,000,000 maximum is a higher threshold than most lenders. 
  • Footprint: PNC’s reach extends nationwide; however, it doesn’t offer HELOCs to borrowers in Alaska, Hawaii, Louisiana, Mississippi, Nevada and South Dakota.
  • Loan minimum: PNC has a loan minimum loan amount of $10,000 — which is low — or the minimum amount required by state law. 
  • Draw requirement: PNC does not have a minimum draw amount for its HELOCs, unlike many lenders.

PNC earns a strong 4.5 out of 5 for availability because of its seven-figure credit lines and lack of a minimum draw. 

Borrower experience: 4.7/5

  • Rate transparency: No rates are listed online. To receive a rate quote, you have to share how much you want to borrow, where the property is located, how the property is used and details on existing loans or lines of credit.
  • Convenience: Borrowers can complete an application online, over the phone or in person at a branch location. In addition to phone and branch support, PNC also offers a live chat feature on its website. 
  • Customer service: Representatives are available to speak to customers on the phone every day of the week, even on weekends. 
  • Fixed-rate options: While PNC doesn’t offer standard home equity loans, you have the option of converting all or part of your HELOC to a fixed rate — and without charge, if you do it immediately — in effect turning it into a HELoan. 

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.

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Bankrate insight

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’s reputation 

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.

What consumers say about PNC

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.” 

Home equity products offered

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.

How to qualify for a home equity loan with PNC

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.

How to apply for a home equity loan with PNC

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.

Compare PNC with other lenders

Selected lender
PNC logo
NMLS: 446303
Bankrate score
Rating: 3.9 stars out of 5
3.9
Customer score
Rating: 4.5 stars out of 5
4.5
BMO Bank logo
NMLS: 401052
Bankrate score
Rating: 4.9 stars out of 5
4.9
Customer score
Rating: 2.6 stars out of 5
2.6
TD Bank logo
Bankrate score
Rating: 3.8 stars out of 5
3.8
Customer score
Rating: 0 stars out of 5
N/A

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

Rating: 1 stars out of 5

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!

Rating: 1 stars out of 5

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

Rating: 0 stars out of 5

No reviews available yet.

N/A

PNC Bank customer ratings and reviews

NMLS: 446303

logo

4.5

Rating: 4.48 stars out of 5

23 ratings

Knowledge
Rating: 4.4 stars out of 5
Level of service
Rating: 4.3 stars out of 5
Professionalism
Rating: 4.5 stars out of 5
Responsiveness
Rating: 4.3 stars out of 5

91% of customers would recommend this lender.

10 of 22 reviews

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.

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Rating: 1 stars out of 5

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!!

Knowledge
Rating: 1 stars out of 5
Level of service
Rating: 1 stars out of 5
Professionalism
Rating: 1 stars out of 5
Responsiveness
Rating: 1 stars out of 5

Simple application process?

No

Closed loan with this lender?

Yes

Received funds when promised?

Yes

Would you recommend this lender?

No

Knowledge
Rating: 1 stars out of 5
Level of service
Rating: 1 stars out of 5
Professionalism
Rating: 1 stars out of 5
Responsiveness
Rating: 1 stars out of 5

Simple application process?

No

Closed loan with this lender?

Yes

Received funds when promised?

Yes

Would you recommend this lender?

No

Rating: 5 stars out of 5

I love pnc

Denise L.
601 N GORHAM ST APT I FAYETTE OH (Aug. 24, 2024)

I love pnc

Knowledge
Rating: 5 stars out of 5
Level of service
Rating: 5 stars out of 5
Professionalism
Rating: 5 stars out of 5
Responsiveness
Rating: 5 stars out of 5

Simple application process?

Yes

Closed loan with this lender?

No

Received funds when promised?

N/A

Would you recommend this lender?

Yes

Knowledge
Rating: 5 stars out of 5
Level of service
Rating: 5 stars out of 5
Professionalism
Rating: 5 stars out of 5
Responsiveness
Rating: 5 stars out of 5

Simple application process?

Yes

Closed loan with this lender?

No

Received funds when promised?

N/A

Would you recommend this lender?

Yes

Rating: 5 stars out of 5

Anonymous Reviewer
(July 1, 2024)

Great

Knowledge
Rating: 5 stars out of 5
Level of service
Rating: 5 stars out of 5
Professionalism
Rating: 5 stars out of 5
Responsiveness
Rating: 5 stars out of 5

Simple application process?

No

Closed loan with this lender?

Yes

Received funds when promised?

N/A

Would you recommend this lender?

Yes

Knowledge
Rating: 5 stars out of 5
Level of service
Rating: 5 stars out of 5
Professionalism
Rating: 5 stars out of 5
Responsiveness
Rating: 5 stars out of 5

Simple application process?

No

Closed loan with this lender?

Yes

Received funds when promised?

N/A

Would you recommend this lender?

Yes

Rating: 5 stars out of 5

Anonymous Reviewer
(July 1, 2024)

PNC is a great bank to do business with and very professional too.

Knowledge
Rating: 5 stars out of 5
Level of service
Rating: 5 stars out of 5
Professionalism
Rating: 5 stars out of 5
Responsiveness
Rating: 5 stars out of 5

Simple application process?

No

Closed loan with this lender?

Yes

Received funds when promised?

N/A

Would you recommend this lender?

Yes

Knowledge
Rating: 5 stars out of 5
Level of service
Rating: 5 stars out of 5
Professionalism
Rating: 5 stars out of 5
Responsiveness
Rating: 5 stars out of 5

Simple application process?

No

Closed loan with this lender?

Yes

Received funds when promised?

N/A

Would you recommend this lender?

Yes

Rating: 5 stars out of 5

Anonymous Reviewer
(July 1, 2024)

Very responsive. I like the professionalism and quality of the service

Knowledge
Rating: 5 stars out of 5
Level of service
Rating: 4 stars out of 5
Professionalism
Rating: 5 stars out of 5
Responsiveness
Rating: 5 stars out of 5

Simple application process?

No

Closed loan with this lender?

No

Received funds when promised?

N/A

Would you recommend this lender?

Yes

Knowledge
Rating: 5 stars out of 5
Level of service
Rating: 4 stars out of 5
Professionalism
Rating: 5 stars out of 5
Responsiveness
Rating: 5 stars out of 5

Simple application process?

No

Closed loan with this lender?

No

Received funds when promised?

N/A

Would you recommend this lender?

Yes

Rating: 4 stars out of 5

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

Knowledge
Rating: 4 stars out of 5
Level of service
Rating: 5 stars out of 5
Professionalism
Rating: 5 stars out of 5
Responsiveness
Rating: 4 stars out of 5

Simple application process?

No

Closed loan with this lender?

Yes

Received funds when promised?

N/A

Would you recommend this lender?

Yes

Knowledge
Rating: 4 stars out of 5
Level of service
Rating: 5 stars out of 5
Professionalism
Rating: 5 stars out of 5
Responsiveness
Rating: 4 stars out of 5

Simple application process?

No

Closed loan with this lender?

Yes

Received funds when promised?

N/A

Would you recommend this lender?

Yes

Rating: 4 stars out of 5

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

Knowledge
Rating: 4 stars out of 5
Level of service
Rating: 4 stars out of 5
Professionalism
Rating: 4 stars out of 5
Responsiveness
Rating: 3 stars out of 5

Simple application process?

No

Closed loan with this lender?

Yes

Received funds when promised?

N/A

Would you recommend this lender?

Yes

Knowledge
Rating: 4 stars out of 5
Level of service
Rating: 4 stars out of 5
Professionalism
Rating: 4 stars out of 5
Responsiveness
Rating: 3 stars out of 5

Simple application process?

No

Closed loan with this lender?

Yes

Received funds when promised?

N/A

Would you recommend this lender?

Yes

Rating: 5 stars out of 5

Anonymous Reviewer
(July 1, 2024)

They were very helpful and informative throughout the whole loan process.

Knowledge
Rating: 5 stars out of 5
Level of service
Rating: 5 stars out of 5
Professionalism
Rating: 5 stars out of 5
Responsiveness
Rating: 5 stars out of 5

Simple application process?

No

Closed loan with this lender?

Yes

Received funds when promised?

N/A

Would you recommend this lender?

Yes

Knowledge
Rating: 5 stars out of 5
Level of service
Rating: 5 stars out of 5
Professionalism
Rating: 5 stars out of 5
Responsiveness
Rating: 5 stars out of 5

Simple application process?

No

Closed loan with this lender?

Yes

Received funds when promised?

N/A

Would you recommend this lender?

Yes

Rating: 4 stars out of 5

Anonymous Reviewer
(July 1, 2024)

It was a long time ago and it was transferred but initially it was great.

Knowledge
Rating: 4 stars out of 5
Level of service
Rating: 3 stars out of 5
Professionalism
Rating: 4 stars out of 5
Responsiveness
Rating: 3 stars out of 5

Simple application process?

No

Closed loan with this lender?

Yes

Received funds when promised?

N/A

Would you recommend this lender?

Yes

Knowledge
Rating: 4 stars out of 5
Level of service
Rating: 3 stars out of 5
Professionalism
Rating: 4 stars out of 5
Responsiveness
Rating: 3 stars out of 5

Simple application process?

No

Closed loan with this lender?

Yes

Received funds when promised?

N/A

Would you recommend this lender?

Yes

Rating: 3 stars out of 5

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

Knowledge
Rating: 4 stars out of 5
Level of service
Rating: 3 stars out of 5
Professionalism
Rating: 4 stars out of 5
Responsiveness
Rating: 4 stars out of 5

Simple application process?

No

Closed loan with this lender?

Yes

Received funds when promised?

N/A

Would you recommend this lender?

No

Knowledge
Rating: 4 stars out of 5
Level of service
Rating: 3 stars out of 5
Professionalism
Rating: 4 stars out of 5
Responsiveness
Rating: 4 stars out of 5

Simple application process?

No

Closed loan with this lender?

Yes

Received funds when promised?

N/A

Would you recommend this lender?

No