PNC is a registered service mark of The PNC Financial Services Group, Inc. (“PNC”). All loans are provided by PNC Bank, National Association, a subsidiary of PNC, and are subject to credit approval and property appraisal.
Build Your Dream Home
Whether building or renovating, learn how PNC's construction loan options could work for you
Construction & Renovation to Permanent Financing & Lot Loans
Important: These products are only available to customers with collateral in Alabama, Arizona, California, Colorado, Florida, New Mexico, Texas and Washington. This product is not yet available to customers outside of these states.
How Do I Get Started?
If you're ready to start building, renovating, or purchasing a lot to build, fill out the form below to be contacted by a certified Mortgage Loan Officer (MLO).
What If I Need More Information?
Download our PNC Construction Loan guide for more information.
Required Documentation During Each Draw Phase
- Builder's Risk Insurance
- General Liability Insurance
- Foundation Survey, Foundation Title Endorsement or other foundation documentation accepted by PNC based on state-specific requirements
Final Inspection
Once the project is 100% complete, contact your Draw Coordinator to schedule the final inspection by the appraiser. Some loan types require a new appraisal in lieu of a final inspection; the homeowner is responsible for the cost.
Final Survey
Based on state-specific requirements
Flood Insurance
If applicable
Homeowner’s Insurance
Provide policy and proof of payment showing payment paid for one year.
Final Affidavit
Provided by PNC
Soil Treatment Letter or Termite Bond
If typical for the area
Paid Real Estate Tax Receipt
For most recent tax period
Certificate of Occupancy
If required/provided by local authority
Well Approval
If applicable and provided by local authority
Septic Approval
If applicable and provided by local authority
Notice of Completion
Final Lien Waiver
Other State-Specific Requirements as Applicable
** Your Draw Coordinator will provide required documents near completion of construction
- Homeowner's and builder's approval
- Builder's Risk and General Liability Insurance
- Invoices, if applicable
Disbursement of Funds for Completed Work
Requesting a disbursement of funds from PNC is easy and convenient. The typical disbursement process is as follows:
Important Dates to Remember
| Closing Date | Your loan is closed; you’ve drawn the funds you need and you’ll begin construction. You’ll receive a Welcome Email shortly after. |
| 1st of each month after closing | Your interest-only payment will be due. |
| 17th of each month after closing | We prepare your interest bill and send it to you. |
| 30 days before you complete construction | Contact your Draw Coordinator to talk about final requirements and your final draw (the final amounts you need to complete construction.) |
| Conversion Date | This is typically the date you complete construction. Your loan will change from the construction phase to the permanent phase and your payments will go from interest-only to mortgage payments of both interest and principal. |
Frequently Asked Questions
These products are only available to customers with collateral in:
- Alabama
- Arizona
- California
- Colorado
- Florida
- New Mexico
- Texas
- Washington
This product is not yet available to customers outside of these states.
Monthly interest-only payments, which are calculated on the loan funds disbursed.
If you are in a flood zone, flood insurance will be collected during the construction phase.
Some of the most common expenses you should expect to pay are:
- Final construction phase interest
- Escrows for tax and insurance(s)
- Prepaid interest on the permanent phase
- Additional inspection fees — if applicable
For more information, review the Post-Closing Fees and Other Loan Expenses in the PNC Construction Loan Fact Sheet.
No. Both the homeowner(s) and builder must approve each draw request.
Escrows for taxes and insurance are collected on your conversion date.
Borrowers are responsible for making all escrow payments that come due during the construction phase.
Subject to lender approval
In the event the improvements are not complete and/or you are unable to meet the requirements prior to maturity, additional fees and/or interest rate increases may apply.
The lender will determine if an extension is appropriate. This is subject to qualification and applicable fees. Some restrictions apply.
- Meet PNC requirements, follow established procedures and adhere to the terms of the loan.
- It’s both the homeowner and the contractor’s/builder's responsibility to complete the project within the building contract terms.
- Meet frequently to discuss the project, issues, changes, etc.
- Make frequent jobsite visits together.
- Resolve disputes quickly and fairly.
- Have timely and effective communication.
- Inform PNC of any changes or issues as they arise.
Contact Us
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