PNC, PNC HomeHQ, PNC Home Insight, and Home Insight are registered service marks of The PNC Financial Services Group, Inc. ("PNC"). PNC has pending patent applications directed at various features and functions of Home Insight Planner and Home Insight Tracker. All loans are provided by PNC Bank, National Association, a subsidiary of PNC, and are subject to credit approval and property appraisal.
What to Expect: From Application Through Closing
Know what to expect after submitting your home loan application.
Use This List To Gather What You Need To Apply for a Home Loan
Your PNC Loan Officer and your home lending team will assist you from application through the closing process. But here’s an overview of what you can expect:
Use This List To Gather What You Need To Apply for a Home Loan
Your PNC Loan Officer and your home lending team will assist you from application through the closing process. But here’s an overview of what you can expect:
What You Need to Apply
Use this list to gather what you need to apply for a home loan
To apply for a home loan, you’ll need to provide information about your income, assets and debts, plus any circumstances that may impact your ability to repay. Be prepared to provide some or all of the items below:
Additional Resources
Learn more about recent home lending regulatory changes, how these changes impact you and the home buying process.
Closing Costs 101
Get a better idea of what fees and charges to expect during the closing process — whether you're buying a home or refinancing
- Buying a Home
- Refinancing
Buying a Home
The closing is the final step in the home buying process. Make sure you’re prepared to pay closing costs, which can be up to 3% to 5% of the purchase price.
Within 3 business days of your complete application, the lender will provide a Loan Estimate that details the fees, charges and other costs you can expect to pay beyond the sale price of your home. Closing costs typically include:
- Origination Fees - These are the lender’s charges for processing your mortgage.
- Settlement Services - These charges cover expenses paid to other parties on your behalf, including fees for appraisals, title search, credit reports, document recording, inspections and conveyance taxes.
- Property Insurance - Your loan approval conditions will require you to prepay for the purchase of one year of insurance coverage to protect your new home.
- Interest Prepayment - If you close a loan before the end of the month, the lender will require you to prepay interest on the loan for the number of days remaining in the month.
- Tax & Insurance Escrow Deposits – If required by your loan approval terms, you’ll also have to make initial deposits into your escrow account to pay for real estate taxes and insurance.
- Mortgage Insurance - If you put less than 20% for a down payment, you may be required to have mortgage insurance and make an initial mortgage insurance payment at closing.
- Discount Points - Sometimes, you can obtain a lower interest rate by paying points to your lender. A point represents 1% of the loan amount.
- In the terms of FHA this would be the total loan amount which includes the Up Front Mortgage Insurance Premium. But this lump sum is allowed to be financed into the loan, so you don't have to actually write a check for it at closing.
Estimating Closing Costs
Get a better idea of what fees and charges to expect during the closing process— whether you're buying a home or refinancing
Related Resources
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