Both PNC Mortgage and Bank of America Mortgage offer a comprehensive suite of mortgage products and online application processes. Bank of America stands out with its faster online pre-approval and potential origination fee discounts for preferred customers. However, PNC offers a wider array of specialty loan products and has a partnership with Blend for an optimized digital experience. Customer service reputation is mixed for both, so borrowers should weigh their options carefully based on their individual needs and preferences.
| Attribute | PNC Mortgage | Bank of America Mortgage |
|---|---|---|
| Interest Rates Offered | PNC's interest rates tend to be near the industry average but can be competitive for borrowers with good credit or a substantial down payment. They offer both fixed and adjustable-rate options and provide rate estimates based on your financial profile. | Competitive mortgage rates as of August 14, 2025: 30-year fixed: Rate 6.375% APR 6.608% Points 0.906. Monthly Payment $1,248; 15-year fixed: Rate 5.500% APR 5.855% Points 0.782. Monthly Payment $1,634; 5y/6m ARM variable: Rate 5.875% APR 6.845% Points 0.821. Monthly Payment $1,183. Rates are tailored based on loan amount, down payment, and ZIP code. |
| Loan Types Available | PNC offers a wide array of loan options, including conventional, jumbo, FHA, VA, and USDA loans. They also offer specialty products like construction loans (in select states), renovation loans, lot loans, and medical professional loans. Refinancing options and HELOCs are also available. | Conventional loans, FHA loans, VA loans, Jumbo loans, Fixed-rate mortgages (15, 20, and 30-year terms), Adjustable-rate mortgages (ARMs), Affordable Loan Solution mortgages |
| Down Payment Requirements | Down payment options are flexible. Some programs, like the PNC Community Loan, allow down payments as low as 3% and accept gift funds. VA and USDA loans may have no down payment options. | Down payments can start as low as 3% for conventional loans and 3.5% for FHA loans. The Affordable Loan Solution mortgage also offers a 3% down payment option. VA loans may have no down payment requirement. |
| Closing Costs | Expect closing costs to be between 3% to 5% of the loan amount. PNC may offer discounts for existing banking customers, and grants may be available for down payment or closing costs. | Typically range from 3% to 5% of the loan amount; closing cost calculator available. |
| Loan Origination Fees | PNC charges average origination fees. | Typically between 0.5% and 1% of the loan amount. Discounts available for Preferred Rewards program members. Promotions waiving origination fees have been offered for certain loans. |
| Customer Service Reputation | Customer service ratings are mixed. PNC has received lower ratings on sites like the Better Business Bureau and Trustpilot and has a higher number of complaints to the CFPB than other lenders. However, PNC is known in the mortgage industry for its exceptional customer service. | Scored above the industry average in J.D. Power's mortgage origination satisfaction study and ranked high in mortgage servicing satisfaction. Better Business Bureau gives an 'A' rating. Trustpilot gives a 'Bad' rating. |
| Online Application Process Ease | PNC offers an online application process and provides online tools for mortgage rate quotes and application tracking. They have a Home Insight Planner and application tracker. PNC has partnered with Blend to digitally optimize the online mortgage application process. | Offers an online application process and Home Loan Navigator tool for tracking applications, uploading documents, and e-signing forms. |
| Pre-approval Process Speed | You can get an online preapproval in as little as 24 hours and conditional approval in 3-5 business days. PNC offers a preliminary pre-approval process that provides a faster answer by requiring a less detailed review of your financial documentation. | Easy to apply for mortgage prequalification online, over the phone, or in person. Online preapproval typically takes only a few minutes. |
| Refinancing Options | PNC offers various refinance options, including fixed-rate and adjustable-rate loans. They also offer cash-out refinancing. If you're eligible for an FHA Streamline Refinance, there is no loan-to-value maximum, and an appraisal may not be necessary. | Rate-and-term and cash-out refinancing options available. |
| Geographic Availability | PNC lends mortgages nationwide, with branch locations in many states. | Licensed to lend in all 50 states with a large network of physical locations. |
| Minimum Credit Score Requirements | The minimum credit score for a conventional loan is typically 620. However, specific loan programs like FHA and USDA loans may have different minimum credit score requirements. | At least 620 for conventional loans; FHA loans may be available with a minimum score of 580. |
| Debt-to-Income Ratio Requirements | PNC recommends a maximum debt-to-income ratio of 40%, but a lower percentage increases your chances for a conventional loan and better interest rates. | Most lenders prefer a DTI of 36% or less. |