Home Equity Lending 

Limited Time Introductory Rate Offer: During the six-month period that begins on the closing date (“Introductory Period”), the Introductory Annual Percentage Rate (“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 $50,000 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. Introductory Rate Offer is based on a CHELOC secured by a property. The Introductory APR is available for CHELOC applications received August 1, 2024 through December 31, 2024, and that close by February 28, 2025. Offer available only in the following states: Arkansas, Connecticut, Idaho, Iowa, Kansas, Maine, Massachusetts, Minnesota, Montana, Nebraska, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Rhode Island, Utah, Washington, Wyoming. Offer may be discontinued and 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 $10,000 to $1,000,000 range from 8.69% to 16.60% as of October 1, 2024. Variable APRs shown also reflect a 0.25% interest rate discount for automatic payments from a PNC checking account. 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.

Annual Percentage Rates: Current Variable Annual Percentage Rates (APRs) shown are for variable-rate lines of credit for the displayed line amount. Variable APRs for line amounts from $10,000 to $1,000,000 currently range from 8.19% to 16.60%. APRs shown also reflect a 0.25% interest rate discount for automatic payments from a PNC checking account. Your 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. The APR will never be more than 24% or less than 2.25%. A minimum payment of the greater of $25.00 or other amount due under the terms of your Account is required.

Annual Fee: The annual fee is $50. There is no annual fee for Texas accounts.

Account Opening Fees: You must pay certain fees and charges to third parties to open your Account. We will pay some other fees and charges for you. Title insurance may be required for credit lines of $500,000 or more and for credit 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 $450 and $19,265.

Origination Fees: Customers with collateral located in California, North Carolina, and New York 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.

Recordation Tax: 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.

Reimbursable Fees: 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.

Transfer Fee: There is no fee for a Fixed-Rate Part established at the time of account opening. A $100 transfer fee is charged each time you establish a Fixed-Rate Part after account opening.

Fixed Rate Option: This account includes an option to establish a Fixed Rate Part for terms ranging from 5 to 30 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.

Collateral Property: For loans in Texas, the property must be a homestead property.

Insurance: 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.

Debt Consolidation: Debt consolidation combines multiple debts into a new loan with a single monthly payment. You may be able to obtain a lower rate, lower payment or pay off debt faster. Reductions in your monthly payment could come from a lower interest rate, a longer repayment period or a combination of both. By opting to repay the debt over a longer period, you may pay more in interest over time. Contact us to discuss the option that best meets your needs.

Refinancing: Refinancing at a longer repayment term may lower your loan payment but may also increase the total interest paid over the life of the loan. Refinancing at a shorter repayment term may increase your loan 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.

Minimum Payment Due: After closing, the minimum payment due within the first two billing cycles will include: the Origination Fee, if applicable; the Annual Fee; and the minimum payment required for any draw taken in these first billing cycles. There is no Annual Fee or Origination Fee for Texas Accounts.

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 1-855-762-9545 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.

How We Calculate Your Payment: During the Draw Period, the current payment on the Variable Rate Part will be the greater of (1) $25.00 or (2) the sum of the Finance Charge on the Variable Rate Part, Annual Fees, if any, and other fees (but not including Late Charges) which have accrued during the Billing Cycle plus 1/360th of the Principal Balance in the Variable Rate Part at the end of the Billing Cycle. If you have locked in a Fixed Rate Part, your minimum monthly payment will also include the payment for that Fixed Rate portion.

During the Repayment Period, the current payment on the Variable Rate Part will be the greater of (1) $25.00 or (2) the sum of the Finance Charge on the Variable Rate Part, and other fees (but not including Late Charges) which have accrued during the Billing Cycle, plus the greater of 1/360th of the Principal Balance in the Variable Rate Part at the end of the first Billing Cycle in the Repayment Period.

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 approval and property appraisal.

For more information, visit Home Equity Loans & Lines of Credit on pnc.com.