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PNC Mortgage Advantage

Whether you’re relocating or refinancing, we know you don’t need additional stress and uncertainties. With the
PNC Mortgage Advantage®, we help you reduce worries during the closing process of the loan.

Terms & Conditions

1 For Conventional purchase transactions, the earliest Guarantee Date is the contract closing date, not to be less than 22 days from application. For Government-FHA purchase transactions, the earliest Guarantee Date is the contract closing date, not to be less than 30 days from application. For Government-VA purchase transactions, the earliest Guarantee Date is the contract closing date, not to be less than 45 days from application.

For Conventional and Government (FHA/VA) refinance transactions, the earliest Guarantee Date is the interest rate lock expiration date, or a minimum of 45 days from application. Note: a "pre-lock" does not qualify as the interest rate lock date for the Closing Date Guarantee Program. For refinance transactions, PNC Mortgage will pay you $500 if we do not disburse the funds for your mortgage by your rate lock expiration date.


The Guarantee is valid if:

  • The borrower provides PNC Mortgage with a copy of the original purchase contract that specifies a closing date and provides all required documentation within three days of submitting a complete loan application.
  • The borrower provides PNC Mortgage with any additional required information/documentation within the time frame indicated on any Notice of Incompleteness or Commitment Letter.
  • The borrower locks the interest rate on the loan and completes all loan requirements and conditions, including payment of all Advance Fees (credit report and appraisal fees) at least 10 days prior to the contract closing date and the loan closes and funds with PNC Bank.
  • For purchase loans, the Guarantee includes only transactions that have a written contract between a buyer and seller for the purchase of residential real estate consisting of a one-to-four family unit dwelling (including condominiums).
  • If the property is a foreclosure then the seller's written approval must be executed prior to taking the application.
  • For short sales, the lender(s) need to provide written approval of the short payoff(s) at time of application.
  • Should you qualify to receive a $500 payment due to a missed closing date and PNC Mortgage does not close your loan, you will still receive the $500.
  • Should you qualify to receive a $500 payment, the check will be mailed to your home address within 10 days of your closing date. Any Guarantee payment we make may be reported to the IRS on a Form 1099-MISC.

Exclusions and Limitations.
Products, loans and transactions that are excluded from this Guarantee include: Home Equity Line of Credit; FHA 203k; Rural Housing; Housing Finance Bonds; Grants; down payment assistance programs; State or Local tax credits; Reverse Mortgages; or loans that require subordination of a second lien.


The Guarantee is not valid if:

  • The borrower changes loan products or terms.
  • Applicable law or investor requirements impose a required waiting period prior to closing and that waiting period prohibits us from closing by your contract closing date.
  • The closing is delayed due to borrower's actions, omissions or delays, or is due to those of an unaffiliated third party.
  • The closing is delayed due to the seller's failure to close by the contract closing date or to perform as required under the contract or to satisfy conditions of the loan approval.
  • The borrower does not specify a closing date in the original purchase contract (except contracts for new construction).
  • Closing is not able to occur due to inclement weather, a natural disaster, catastrophic event or other general public emergency beyond PNC Mortgage's control.
  • The borrower's application or loan documentation contains fraudulent information or material misrepresentations.

The Guarantee is not assignable or transferrable and we reserve the right to withdraw, terminate, or amend this Guarantee at any time without notice except for eligible purchase or refinance transactions submitted prior to our withdrawal, termination or amendment.

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© 2014 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.