As you asking I am telling PNC Bank Home Equity Line of Credit gives you unparalleled flexibility by providing you the choice of when to borrow money, and how to pay it back.

Features and Benefits
Payment Choice: Two variable-rate payment choices to choose from - principal and interest or interest-only

Flexibility: Ability to lock in a fixed rate on all or any part of the variable-rate balance

Accessibility: Convenient access to your home equity line of credit funds by check, online, telephone banking, at any PNC branch and by using your Visa® Choice Access Card

Tax Benefits: The interest you pay on your home equity line of credit is typically tax deductible

Two Variable Rate Payment Options to choose from

Principal and interest - 1/360th of the principal balance in the variable rate part at the end of the billing cycle plus accrued interest and fees
Interest-only - The sum of accrued interest and fees during the billing cycle

A Fixed Rate Lock Payment Option

Principal and interest fixed rate with terms from 5-30 years
Two Principal and interest fixed rate lock options at any one time

Flexible Draw and Repayment Terms

Principal and interest Contract: 10-year draw period, followed by a 30-year repayment period
Interest-only Contract: 7-year draw period, followed by a 30-year repayment period

0.25% interest rate discount when your monthly payment is automatically deducted from your PNC checking or savings account[3]
You may be able to avoid the monthly service charge on a Performance Checking Account


Home Equity Line of Credit Costs at Closing:*

No application fee
Insurance: you are required to carry property insurance on the property that secures your account.

Flood insurance may be required. Title Insurance may be required for lines of $500,000 or more and for lines of lesser amounts depending on a number of factors, including the manner in which the property was acquired.


Payments on this account do not include taxes or insurance

Annual Fee: $50 (waived with a PNC Performance Select Checking Account)
$10 GA Residential Mortgage Act Fee, applicable in GA only

Home Equity Line of Credit Servicing Fees:

Cash Advance Fee - $0
Late Charge - The greater of $40 or 10% of the total amount of the payment
Return Payment Fee - $30
Stop Payment Fee - $20
Return Credit Line Check Fee - $30
Overlimit Fee - $30
Fixed Rate Transfer Fee - $100