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PNC Bank FHA Loans Review

Rating: 6.8 / 10 (Very good)
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Headquartered in Pittsburgh, PNC Bank is a diversified financial services provider that has been in business for over 160 years. Through PNC, homebuyers have access to a wide range of mortgages, including FHA-backed loans. The application can be started online but must be completed with a representative, in person or over the phone. After the application process is completed, customers can track its progress and see an estimated closing date using PNC’s Home Insight Tracker.
 
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How Do We Rate PNC Bank?

Breakdown

0.0/5
Geographic Availability
3.5/5
Customer Experience
3.5/5
Lender Reputation

Our Overall Rating: 3.4 / 5 (Very good)

PNC Bank’s webpage is user-friendly and offers many tools that can help future homebuyers gather facts and figures that will help them start their FHA loan application. However, important details about FHA loans are omitted. It is also impossible to fill out a loan application online, which will require most consumers to go to a physical branch. This will be an issue for many homeowners since PNC only has a physical presence in 19 eastern and midwestern states. Considering customer complaints and the lack of information on the PNC webpage, some borrowers may consider shifting their attention toward other lenders.

PNC Bank Loan Specifics

Key FHA Loan Facts

Non-Traditional Credit History Considered
No

Loan Specifics - 3.5 / 5

PNC Bank does not provide details regarding their requirements for FHA loans, which makes it difficult for borrowers to compare lenders.

PNC Bank Customer Experience

Customer Experience - 3.5 / 5

Consumers are unable to fill out an online application or receive a quote through the website. Filling out the Home Insight Planner will give customers an idea of what their monthly mortgage payment will be, but since it is not specifically targeted towards FHA loans, it lacks the option for setting a down payment at 3.5% and doesn't take into consideration the additional mortgage insurance costs incurred with an FHA loan.

Regarding PNC's customer service, dissatisfaction complaints include the inability to speak to a customer service representative 24/7 and attention that is not up to par. Additionally, even though PNC originates loans in all 50 states and the District of Columbia, there are only branches in the East Coast and Midwest.

Online Features

Online Application
No
FHA Mortgage Calculator
No
Online Quote
No

PNC Bank Lender Reputation

Lender Reputation - 3.5 / 5

Just in the past three years, consumers have opened 1,448 complaints against PNC with the BBB. Although these complaints are not all about their FHA mortgage program, customer satisfaction in general is quite low and could affect the FHA loan process. The BBB assigned an D- rating to the company, partly due to the 103 negative reviews of the 106 that were submitted. Although there are consumers who are happy with the attention received and mention that closing time happened on schedule, a significant number of them complain about unsatisfactory loan servicing and modification.

Key Reputational Facts

Company Type
Underwriter
Year Founded
1852
BBB Rating
D-
Number of BBB Positive Reviews
2
Number of BBB Negative Reviews
103
Date Collected
2018-01-25

Complaints & Actions

Nationwide Mortgage Licensing System ID
446303
Nationwide Mortgage Regulatory Actions
2
NMLS Collection Date
2018-01-24
CFPB Total Mortgage Complaints
9,693
CFPB Collection Date
2018-01-24

Company Profile

Full Name
PNC Bank FHA Loans
Company Website
https://www.pnc.com
Headquarters
One PNC Plaza, 249 Fifth Ave, Pittsburgh, PA, 15222
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