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Choice Home Equity Line of Credit
Use a Home Equity Line of Credit to renovate your home, refinance your mortgage, or consolidate debt.[1]
Limited Time Introductory Rate and Cash Offer
The Introductory Rate and Cash Offer applies only to new CHELOCs secured by eligible property in targeted low-to-moderate income census tracts within the PNC Bank Assessment Area.
For the First Six Months
0.25% Intro Rate APR.[2]
After Six Months
6.93% to 14.60% Variable APRs.[3]
Plus get $2000.[4]
Rate Options
One Line of Credit, Two Rate Options.
Variable and fixed rate options throughout the draw period.[1]
You also choose when you need funds. Plus, you can lock - or unlock - the rate on qualifying balances at any time during your draw period.
Variable Rate & Payment
All new balances start at a competitive variable rate and payment.
- Competitive low variable rate and payment that can result in affordable payments.
- Great for home improvements, consolidating debt or refinancing other loans.
Fixed Rate[4]
Choose the stability of a fixed rate & monthly payment.
- Great for large home improvement projects, debt consolidation & major expenses.
- Enjoy the flexibility to lock in a fixed rate on all or part of your variable-rate balance during the draw period.
Best Mortgage Lender, 2025 by Nerdwallet
PNC is proud to be recognized as the 2025 Best Mortgage Lender by NerdWallet for HELOC and Jumbo Loans.
Choice HELOC Application Process
Once you complete your application, you will be assigned a Loan Processor to guide you through closing until you've signed your final paperwork.
Benefits
Why Choose PNC's Choice HELOC.
Fix your roof or consolidate your bills. At rates that may be lower than other loan/credit options with the flexibility to switch between variable and fixed rate.
Low Rates, No Hidden Charges
You pay a fee every time you lock or unlock your interest rate. No surprises.[5]
Switch Between Fixed & Variable Rates
You can follow the market and wait for the lowest interest rate. After you draw your funds you can transfer to a fixed rate part to lock in the fixed rate. You can also go from a fixed rate back to a variable rate.[5]
Potential Home Renovation Tax Benefits
Home renovations made to a home for medical purposes (for example a wheelchair ramp) to install energy efficient equipment (for example, a solar panel) may qualify as a tax deductible expense. Consult your tax advisor.[6]
Get a Rate Reduction[7]
Receive a 0.25% rate discount when you set up and maintain automated payments from a qualifying PNC checking account.
Learn About Home Equity
Watch the Video to Learn About the PNC Home Equity Line of Credit
Video: PNC Home Equity
Choice Home Equity Lines of Credit secured by Texas property are not eligible for a VISA Choice Access Card and will be sent access checks upon request.
Home Equity Line of Credit Frequently Asked Questions
*The property securing the CHELOC must be located in a state where PNC offers home equity products. PNC does not offer the CHELOC product in Alaska, Hawaii, Louisiana, Mississippi, Nevada and South Dakota.
I Want to Learn About
Home Equity Loan Tools & Calculators
Use our simple and fast calculators to find out how much you can borrow, to compare your loan options, or get a home renovation estimate.
Please Note: The tools and calculators provided are for educational and illustrative purposes only. The accuracy of the calculations and their applicability to your circumstances are not guaranteed. Please consult your financial, tax or legal advisor regarding your unique situation. Rates are subject to change at any time without notice.
Insights
Learn More About Home Equity
Borrow
How Do Home Improvement Loans Work?
Explore how home improvement loans work. Understand loan options, eligibility, and tips for making smart financing decisions for your project.
Borrow
When to Refinance Your Mortgage
Is now the right time to refinance your mortgage? Learn about the signs to watch for and how refinancing can save you money in the long term.
Borrow
What is a Home Equity Line of Credit (HELOC)?
A simple way of converting some of your home equity into cash.
Contact Us
Take the Next Steps.
Credit is subject to approval. Certain restrictions and conditions apply.
During the Six-Month Introductory Period: During the six-month period that begins on the closing date (“Introductory Period”), the Introductory Annual Percentage Rate of 0.25% (“Introductory APR”) applies to credit advances taken from the Variable Rate Part of the CHELOC. The Introductory APR is available for applicants with approved line sizes of $10,000 or greater. The Introductory APR does not apply to any balances you transfer to a Fixed Rate Part. No employee or other discounts (such as the automatic payment discount, described below) are available for the Variable Rate Part during the Introductory Period. The 0.25% Introductory Rate Offer applies only to CHELOCs secured by eligible property in targeted low-to-moderate income census tracts within the PNC Bank Assessment Area. The Offer is available for CHELOC applications received from December 1, 2024, through April 30, 2025, and that close by June 30, 2025. The Offer may be discontinued at any time without notice.
After the Six-Month Introductory Period: After the Introductory Period ends, any outstanding balance in the Variable Rate Part will convert to the Variable Annual Percentage Rate (“Variable APR”) per the terms of your CHELOC Account Agreement, which also applies to all subsequent advances. The Variable APR is higher than the Introductory APR and is based on the prime rate published in The Wall Street Journal plus a margin, but it will never be greater than 24% and will never be less than 2.25%.DEPENDING ON THE BALANCE OF YOUR CHELOC, YOUR MINIMUM MONTHLY PAYMENT WILL INCREASE, POSSIBLY SUBSTANTIALLY, AFTER THE INTRODUCTORY PERIOD ENDS. Variable APRs for loan amounts from $200,000 or greater range from 6.93% to 14.60% as of March 12, 2025. Variable APRs shown also reflect a 0.25% interest rate discount for automatic payments from a PNC checking account and a 0.25% interest rate discount for PNC employees. Your Variable APR may be higher or lower and will be based on the then-current variable-rate index value, your credit qualifications, amount of the line, loan to value, the property type, lien position and whether you elect the automatic payment feature from a PNC checking account. If automatic payment is discontinued, you will no longer receive an automatic payment discount.
For a limited time, PNC Bank is offering a check in the amount of $2,000 (the “Offer”) to eligible customers who obtain a CHELOC secured by certain qualifying collateral. To be eligible for the Offer, your CHELOC application must be approved, and your collateral property must be in a low- or moderate-income census tract within targeted PNC Bank Assessment Areas. The Offer is subject to credit and property approval. If you meet the eligibility criteria and open a CHELOC account, a $2,000 check will be mailed to you within 30 days after the CHELOC account opening. We are required to report the value of the Offer to the IRS using the appropriate forms, and it may be considered taxable income to you. Please consult your tax adviser regarding your specific situation. The Offer may be modified or discontinued at any time. The Offer is available for CHELOC applications received 3/1/2025 through 4/30/2025, and that close by 6/30/2025. The advertised discounted margin is only available in targeted census tracts and is subject to change. Offer may be discontinued at any time without notice.
This account provides the option to establish one or more fixed rate lock during the draw period for a term of 5–30 years (except in the state of Tennessee where terms range from 5-20 years). There is a fee each time you choose to use this option. The Introductory APR does not apply to any balances you transfer to a Fixed Rate Part.
Interest on home equity loans/lines that are not considered home acquisition debt may not be tax deductible. Please consult your tax advisor.
To receive a 0.25% discount to the Variable APR applicable after the Introductory period, you must set up Automated Payments from a qualifying PNC checking account at closing. The automated payment discount will be discontinued if automated payments are cancelled. PNC may occassiaonlly ofter a promotional introductory APR. The automated payment discount does not apply to the Introductory APR.
The annual fee is $50.
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. If title insurance is required, fees may range between $605 and $16,270.
There is a fee each time you establish a fixed rate part; however, this fee will be waived if you establish a fixed-rate part at credit line origination.
In addition to any required title insurance, you are required to carry property insurance on the property that secures your account. Flood insurance may be required. Your payments on this account do not include taxes or insurance. PNC Bank will pay certain closing costs including, as applicable, certain state transfer taxes and fees on your behalf. If you pay off and close your line of credit within the first 36 months, you will be required to reimburse us for those closing costs. There are no reimbursable fees for Texas accounts.
This account includes an option to establish a Fixed Rate Part for terms ranging from 5 to 30 years (except in the state of Tennessee where terms range from 5-20 years). Payments include principal and interest amounts based on a level amortization schedule designed to fully repay the Fixed Rate Part amount at the end of the term selected.
Applicable Fixed Rate Part APRs will vary and are based on the index value for fixed-rate options in effect at the time a Fixed Rate Part is established; and a margin value based on your credit qualifications, the repayment term of the Fixed Rate Part, the amount of the transfer, the property type, loan to value, lien position and whether you elect the automatic payment feature from a PNC checking account established at the time of application. Once a Fixed Rate Part is established, the APR for that Part will not change. The minimum amount to establish a Fixed Rate Part is $5,000. Principal repayments during the Draw Period replenish the available credit line and are available for future draws.
Your rate may also be higher or lower as rates are subject to change at any time based on market conditions or other business factors including changes in benchmark interest rates. Call 1-833-353-0111 to obtain the most up to date rates available in your market.
The Fixed Rate Part rates and payments displayed are for new customers only. Existing CHELOC customers can consult their Line of Credit Agreement or find their Fixed Rate Part rates at https://www.pnc.com/en/customer-service/home-equity-customer-service.html.
Suspension of Credit Privileges and Reduction of Maximum Credit Limit. Certain conditions, such as a material adverse change in your financial circumstances or a significant decline in the market value of your home, may result in PNC’s temporarily suspending your ability to take advances on your HELOC or reducing your maximum credit limit. Refer to the application disclosure titled “Important Terms of Our Choice Home Equity Lines of Credit” for a full description of the conditions under which PNC may prohibit additional advances or reduce the credit limit.
Bank deposit products and services provided by PNC Bank, National Association. Member FDIC.
The benefits of a Choice HELOC for debt consolidation depend on your individual circumstances. Because a Choice HELOC may have a longer term than some of the debt you may be consolidating, you may not realize a savings over the entire term of your new Choice HELOC.
Refinancing at a longer repayment term may lower your mortgage payment, but may also increase the total interest paid over the life of the loan. Refinancing at a shorter repayment term may increase your mortgage payment, but may lower the total interest paid over the life of the loan. Contact us to discuss the option that best meets your needs.
If you are currently eligible for benefits provided by Servicemembers Civil Relief Act (SCRA), refinancing current debt may not be beneficial.
Origination Fees: Customers with collateral located in Alabama, Arizona, California, Washington DC, Delaware, Florida, Kansas, Kentucky, Maryland, Minnesota, North Carolina, New Jersey, New Mexico, New York, Oregon, Pennsylvania, Utah, and Washington will incur an Origination Fee payable with the first monthly billing statement after account opening. The Origination Fee will be based on the approved maximum credit limit as follows: for approved lines of credit up to $149,999.99 the Origination Fee will be $199; for approved lines of credit of $150,000.00 to $499,999.99, the Origination Fee will be $299; for approved lines of credit of $500,000.00 to $749,999.99, the Origination Fee will be $399; and for approved lines of credit of $750,000.00 or more, the Origination Fee will be $499.
Customers with collateral in New York and Georgia are responsible for paying all state specific city/county taxes. These taxes are a percentage of the Credit Limit approved by the lender and accepted by the customer. Your taxes for New York could range from $20.50-$21.75 per $1,000 of your credit limit within New York City or $7.50-$12.50 per $1,000 of your credit limit outside of New York City. Your taxes for Georgia are $3.00 per $1,000 of your credit limit. PNC Bank (Lender) will withdraw the total tax amount from your Credit Limit to pay the taxes on your behalf and set up a 0.00% interest segment for the full amount of the taxes paid on your account. You will then pay 1/36th of the total amount over 36 months as part of your minimum monthly payment due. This segment will reduce the Credit Limit by the amount of taxes paid. For example, based on a line amount of $100,000, then based on New York City tax, your estimated total tax would be between $2,050 and $2,175. Your estimated monthly tax segment payment, which is 1/36th of the total tax amount, would be between $56.94 and $60.42, respectively.
Texas Choice Home Equity Lines of Credit can only be secured by a primary residence designated as homestead property and can not exceed 80% combined loan to value of that property. Fees not applicable for accounts secured by Texas property include: Annual Fee and the reimbursement of any closing costs paid on borrower behalf by PNC Bank if customer closes the line of credit within 36 months of account opening. Minimum draw in Texas is $4,000. Choice Home Equity Lines of Credit secured by Texas property are not eligible for a VISA Choice Access Card and will be sent access checks upon request. PNC cannot use a customer’s home equity funds to pay (in part or in full) PNC non-homestead debt at account opening.
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