Compare Home Equity Products

Products

Choose three

Choice Home Equity
Line of Credit[1]

 

Important Rate Disclosures

Home Equity
Installment Loan[1]

 

Important Rate Disclosures

Home Equity
Rapid Refinance[1]
 

Important Rate Disclosures

Good For

If you want the flexibility to access funds for large expenses, now and in the future

If you want to borrow a specific amount, and desire the stability of a fixed rate, term, and monthly payment

If you want a lower cost option to refinance your mortgage or access the equity in your home

Major one-time expenses

Yes

Yes

Yes

On-going access to funds

Yes

No

No

Debt Consolidation

Yes

Yes

Yes

Education

Yes

Yes

Yes

Interest Rates

Variable-rate with Fixed Rate Lock options

Fixed

Fixed-Reference 1stLien Home Equity Installment Loan Rates

Payment Options

Variable Payment Options:

  • Principal and Interest
  • Interest-only

Fixed Monthly Payments on the portion of the balance moved to the Fixed Rate Lock

Automatic deduction available

Fixed Monthly Payments

Automatic deduction available

Fixed Monthly Payments

Automatic deduction available

Costs at Closing

No application fee

No costs at closing for lines of $250,000 or less

Insurance: you are required to carry property insurance on the property that secures your account.  Flood insurance may be required. Title Insurance may be required for lines of $500,000 or more and for lines of lesser amounts depending on a number of factors, including the manner in which the property was acquired. Payments on this account do not include taxes or insurance

Property Search fee: $12-$250 (KY, IN, NJ, OH, WI, MO GA, NC, SC and AL only)

$10 GA Residential Mortgage Act Fee, applicable in GA only

 

Important Rate Disclosures

No application fee

Recording and satisfaction fees (amounts vary by geography)

Insurance: you are required to carry property insurance on the property that secures your account.  Flood insurance may be required. Title Insurance may be required for loans of $500,000 or more and for loans of lesser amounts depending on a number of factors, including the manner in which the property was acquired. Payments on this account do not include taxes or insurance

Property Search fee: $12-$250 (KY, IN, NJ, OH, WI, MO GA, NC, SC and AL only)

$10 GA Residential Mortgage Act Fee, applicable in GA only

 

Important Rate Disclosures

No application fee

Recording and satisfaction fees (amounts vary by geography)

Insurance: you are required to carry property insurance on the property that secures your account.  Flood insurance may be required. Title Insurance may be required for loans of $500,000 or more and for loans of lesser amounts depending on a number of factors, including the manner in which the property was acquired. Payments on this account do not include taxes or insurance

Property Search fee: $12-$250 (KY, IN, NJ, OH, WI, MO GA, NC, SC and AL only)

$10 GA Residential Mortgage Act Fee, applicable in GA only

 

Important Rate Disclosures

Servicing Fees

$50 annual fee (waived with a Performance Select Checking account)

N/A

N/A

Terms

Principal & interest contract:

  • 10 year draw period followed by an additional 30 year repayment period

Interest only contract:

  • 7 year draw period followed by an additional 30 year repayment period

Fixed Rate Lock Terms available:

  • 5 to 30 years

Important Rate Disclosures

Up to 30 years

 

Important Rate Disclosures

Up to 30 years

 

Important Rate Disclosures

Discounts

Choice Home Equity Line of Credit

0.25% interest rate discount when your monthly payment is automatically deducted from your PNC checking account[2]

Home Equity Loan

0.25% interest rate discount when your monthly payment is automatically deducted from your PNC checking account[2]

Home Equity Rapid Refinance

0.25% interest rate discount when your monthly payment is automatically deducted from your PNC checking account[2]

Choice Home Equity Line of Credit

Important Rate Disclosures

Good For

If you want the flexibility to access funds for large expenses, now and in the future

Major one-time expenses

Yes

On-going access to funds

Yes

Debt Consolidation

Yes

Education

Yes

Interest Rates

Variable-rate with Fixed Rate Lock options

Payment Options

Variable Payment Options:

  • Principal and Interest
  • Interest-only

Fixed Monthly Payments on the portion of the balance moved to the Fixed Rate Lock

Automatic deduction available

Costs at Closing

No application fee

No costs at closing for lines of $250,000 or less

Insurance: you are required to carry property insurance on the property that secures your account.  Flood insurance may be required. Title Insurance may be required for lines of $500,000 or more and for lines of lesser amounts depending on a number of factors, including the manner in which the property was acquired. Payments on this account do not include taxes or insurance

Property Search fee: $12-$250 (KY, IN, NJ, OH, WI, MO GA, NC, SC and AL only)

$10 GA Residential Mortgage Act Fee, applicable in GA only

 

Important Rate Disclosures

Servicing Fees

$50 annual fee (waived with a Performance Select Checking account)

Terms

Principal & interest contract:

  • 10 year draw period followed by an additional 30 year repayment period

Interest only contract:

  • 7 year draw period followed by an additional 30 year repayment period

Fixed Rate Lock Terms available:

  • 5 to 30 years

Important Rate Disclosures

Discounts

Choice Home Equity Line of Credit

0.25% interest rate discount when your monthly payment is automatically deducted from your PNC checking account[2]

Home Equity Installment Loan

Important Rate Disclosures

Good For

If you want to borrow a specific amount, and desire the stability of a fixed rate, term, and monthly payment

Major one-time expenses

Yes

On-going access to funds

No

Debt Consolidation

Yes

Education

Yes

Interest Rates

Fixed

Payment Options

Fixed Monthly Payments

Automatic deduction available

Costs at Closing

No application fee

Recording and satisfaction fees (amounts vary by geography)

Insurance: you are required to carry property insurance on the property that secures your account.  Flood insurance may be required. Title Insurance may be required for loans of $500,000 or more and for loans of lesser amounts depending on a number of factors, including the manner in which the property was acquired. Payments on this account do not include taxes or insurance

Property Search fee: $12-$250 (KY, IN, NJ, OH, WI, MO GA, NC, SC and AL only)

$10 GA Residential Mortgage Act Fee, applicable in GA only

 

Important Rate Disclosures

Servicing Fees

N/A

Terms

Up to 30 years

 

Important Rate Disclosures

Discounts

Home Equity Loan

0.25% interest rate discount when your monthly payment is automatically deducted from your PNC checking account[2]

Home Equity Rapid Refinance

Important Rate Disclosures

Good For

If you want a lower cost option to refinance your mortgage or access the equity in your home

Major one-time expenses

Yes

On-going access to funds

No

Debt Consolidation

Yes

Education

Yes

Interest Rates

Fixed-Reference 1stLien Home Equity Installment Loan Rates

Payment Options

Fixed Monthly Payments

Automatic deduction available

Costs at Closing

No application fee

Recording and satisfaction fees (amounts vary by geography)

Insurance: you are required to carry property insurance on the property that secures your account.  Flood insurance may be required. Title Insurance may be required for loans of $500,000 or more and for loans of lesser amounts depending on a number of factors, including the manner in which the property was acquired. Payments on this account do not include taxes or insurance

Property Search fee: $12-$250 (KY, IN, NJ, OH, WI, MO GA, NC, SC and AL only)

$10 GA Residential Mortgage Act Fee, applicable in GA only

 

Important Rate Disclosures

Servicing Fees

N/A

Terms

Up to 30 years

 

Important Rate Disclosures

Discounts

Home Equity Rapid Refinance

0.25% interest rate discount when your monthly payment is automatically deducted from your PNC checking account[2]

Important Legal Disclosures and Information

  1. Credit is subject to approval.

  2. Discount only applicable as long as payments are set up for automatic deduction from a PNC Checking account. The removal of any discount, such as auto deduction or employee, will increase the rate.