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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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© 2012 The PNC Financial Services Group, Inc. All rights reserved. Bank deposit products and services provided by PNC Bank, National Association, Member FDIC. PNC is a registered service mark of The PNC Financial Services Group, Inc ("PNC"). PNC Mortgage is a division of PNC Bank, National Association, a subsidiary of PNC. All loans are provided by PNC Bank, National Association and are subject to credit approval and property appraisal. Terms and conditions of the offer subject to change without notice.

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