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Interest Only Mortgages

With an Interest Only Loan from PNC Mortgage you have the option to pay interest only for the first ten years with no penalty for principal payments. If you are looking for a low monthly payment this product may be right for you.

Interest only mortgages are ideal when:

  • You aren't concerned about paying your loan off quickly.
  • You prefer to keep your monthly payment as low as possible for the first 10 years.

30-year Fixed Rate Interest Only**

Combine the security of a fixed interest rate for 30 years with a low interest only payment for the first ten years and you've got our 30-year Fixed Interest Only Loan.

Interest Only ARM's* **

Our Interest Only ARM's are fixed for anywhere from 1 to 10 years after which time they may adjust. You are only required to pay interest for the first 10 years regardless of the initial fixed rate term.

**Interest only loans provide for payment of interest only for a set period of time, and payment of principal and interest for the remainder of the loan term. Interest only payments do not reduce principal. At the end of the interest only period, your monthly payment will increase, possible substantially, because you will be required to pay down the outstanding principal and all accrued interest.
*Interest is fixed for a set period of time, and adjusts periodically thereafter. At the end of the fixed rate period, the interest and monthly payments may increase.
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The PNC Financial Services Group, Inc. ("PNC") provides investment and wealth management, fiduciary services, FDIC-insured banking products and lending and borrowing of funds through its Subsidiaries, PNC Bank, National Association and PNC Bank, Delaware, and National City Bank, which are Members FDIC. Securities products and brokerage services are offered through PNC Investments LLC and/or NatCity Investments, Inc., registered broker-dealers and members of FINRA, and SIPC. Insurance products and advice may be provided by PNC Insurance Services LLC and/or National City Insurance Group, Inc, licensed insurance agency affiliates of PNC, or by licensed insurance agencies that are not affiliated with PNC; in either case a licensed insurance affiliate will receive compensation if you choose to purchase insurance through these programs. A decision to purchase insurance will not affect the cost or availability of other products or services from PNC or its affiliates. PNC does not provide legal, tax or accounting advice.

Investments and Insurance: Not FDIC Insured. No Bank or Federal Government Guarantee. May Lose Value.