PNC is a long time lender, they divide their loan information into three categories: purchase, refinance, and home equity loans, Under each category is listed the various loan packages and programs: The range of loan products available is broad and includes fixed rate mortgages, adjustable rate mortgages, FHA loans, VA loans, jumbo loans, HARP refinance services: mortgage refinancing, cash-out refinancing, new home loans, and reverse mortgages, down payment loans for first time buyers, physicians loans, renovation and construction loans. Each has its own characteristics but they are all subject to evaluation in relation to your own financial situation.
Website Quality, Transparency and Accessibility
PNC’s website for all three subcategories is superior. They are one of the few companies that is upfront about the closing costs: it is very rare that companies will actually explain what is included and how much you will need to close the deal. Finding out what those costs are is very relevant to your eventual financial obligation and more importantly how much upfront money it costs to get the loan. Many companies make money along the loan application process and string you along thinking you will get the loan and get some ugly surprises at closing. The language is accessible in spite of the complexity of the information being communicated.
Digital Tools Save Time and Used Appropriately
The loan process many times boils down to what you can afford both upfront and long term. A good way to check your potential finances is to utilize a monthly payment calculator such as the ones found here. After evaluating your income, assets and employment, you can better assess what amount of loan you can attempt and at what pace. The various qualifications for special rates and down payment deals are well described under each category.