Best Online Mortgage Lenders Of February 2024 – Forbes Advisor

PNC Bank is one of the few online mortgage lenders that has physical branches—and a lot of them.

You can apply in person at one of PNC’s 2,600 bank branches in the following 28 states and the District of Columbia: Alabama, Arizona, California, Colorado, Delaware, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Jersey, New Mexico, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia and Wisconsin.

Overview

PNC Bank operates in all 50 states and provides a wide range of mortgage products, including specialty loans for low- and moderate-income borrowers.

PNC offers an innovative online experience called Home Insight, which provides a deep dive into the home-buying process, enabling customers to determine the mortgage payment they can afford and start shopping for homes with real-time rate quotes and loan products. It also allows customers who have applied for a loan to follow along with the approval process and upload supporting documents.

How To Apply

Borrowers can apply online or in person at a bank location in the following states and Washington D.C.: Alabama, Delaware, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia and Wisconsin.

Customer support by phone is available Monday through Thursday from 8 a.m. to 9 p.m. ET, Friday from 8 a.m. to 5 p.m. ET and Saturday from 9 a.m. to 2 p.m. ET. Preapproval can take as little as 30 minutes or up to one day.

Speed

The average closing time is 45 days, which is about the industry average. In some cases, the closing can be as short as 30 days.

Eligibility

• Minimum credit score of 620; 700 for jumbo borrowers
• Minimum down payment of 0% for VA loans, 3% for conventional loans and 3.5% for FHA loans (PNC doesn’t publish its down payment requirements for other loan types)

Loan Types

PNC Bank offers a wide selection of home loans, including conventional, FHA, VA, USDA and jumbo loans, home equity loans and specialty loans for medical professionals.