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PNC Bank Home Equity Line of Credit

PNC Bank Home Equity Line of Credit is one of the best lending options made available by the bank to eligible homeowners. A home equity line of credit from PNC allows you to borrow funds whenever you need it. We often need emergency financial support to meet certain unexpected expenses. PNC Bank home equity line of credit comes with great rates, affordable terms and convenient options to fix the payments. You can use the line of the credit amount to payoff pending bills, meet medical emergency, make home improvement or pay your child's tuition fee. To obtain the home equity line of credit, you will have to place your primary residence or your vacation home (with 1st or 2nd lien position), as collateral.

PNC Bank Home Equity Line of Credit Rates

It is a wise decision to check prevailing loan rates and certain disclosure information before you apply for a loan term. PNC offers two types of fixed rate options with its home equity line of credit programs. The first one is the Principal and interest (P&I) fixed rate for terms ranging from 5-30 years. In this rate condition, one can also obtain a maximum of two P&I fixed rate options at one time. The second interest rate options is the Interest-only (I/O) fixed rate available with 5 year term loan. With this rate term, an eligible borrower can obtain a maximum of one I/O fixed rate at a time.

Benefits of PNC Bank Home Equity Line of Credit

Home equity line of credit allows you to convert the equity value of your home into usable cash. The interest rates may also be tax deductible and they are quite lower than unsecured loans and credit cards. The bank also offer variable rate with fixed-rate options along with flexible repayment options. You can also make online application and get a response immediately. Moreover, by enrolling for auto deduction from your checking account, you can get a deduction of 0.25% from your interest rate.

Upon approval, you can decide how much and when to borrow by simply writing a check or transferring funds through online banking. You can get easy access to your funds through telephone banking, by check, online, at PNC branch or by using Visa® Choice Access Card. While you repay the line of credit balance, you can start borrowing again according to your credit limit. Eligible borrowers can also obtain credit life insurance up to the maximum amount allowed by the state. If you have questions or want some assistance then call 800-762-5684 between 7:00 a.m. - 10:00 p.m., ET, Monday - Friday and 8:00 a.m. - 5:00 p.m., ET, Saturday and Sunday.



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