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When we talk about mortgage loans, we can refer both to mortgages to buy a house, build it, renovate it or refinance it, as well as home equity loans and home equity lines of credit (HELOCs), which offer you the opportunity to get money for any purpose you can think of with much more favorable conditions than personal loans.
PNC Bank offers you a wide variety of mortgage loans with which you can cover any need. On the one hand, there are regular mortgages with fixed or adjustable interest rates. In the case of choosing a variable or adjustable rate (ARM) you can choose a first fixed-rate term of between 7 and 10 years.
If the house you want to buy has a very high price, you can also access Jumbo loans, which are mortgages of high amounts, which can reach up to 5 million dollars, but are not available to everyone, since you must demonstrate a high solvency and sufficient income to be able to meet their repayment.
With PNC Bank you can also obtain FHA loans, mortgages with the support of the Federal Housing Administration, with which you can get the money you need to buy a house with much more flexible conditions and less restrictive requirements. They are designed for families who have difficulty accessing regular mortgages.
In addition, as we have already mentioned, you also have home equity lines of credit with which you can use the value of your home as collateral to obtain cheaper financing and better conditions than personal loans.
From Busconómico we always recommend that before getting into debt with a bank you compare several options to find the best one, so we analyze for you the mortgages of the main banks in the United States, such as Chase Bank or TD Bank, so that you can choose with all the information.
Español: Préstamos hipotecarios de PNC Banks