PNC Bank mortgages are currently offering a $50 application document award and a $500 close date guarantee.
This PNC mortgage offer is valid for residents of DC, DE, FL, IL, IN, KY, MD, MI, MO, NJ, OH, PA, VA, and WI.
You’ll get a $50 document award for submitting all supporting documents within 3 days of your mortgage application.
Plus, the close date guarantee ensures that PNC Bank will close your loan on or before the contract closing date, or they’ll give you $500.
Check out these PNC Bank Mortgage Promotions to save on mortgages with PNC Bank.
PNC Bank $50 Document Award
Application Process Preparation – At application, PNC Mortgage will review your documents and discuss any additional ones that may be missing. PNC Mortgage requires that the missing documents be provided within 3 days.
Additional Documentation – If PNC Mortgage’s underwriters request additional documentation in order to approve your loan, the missing information is required within 5 days of the request.
Tying Up Loose Ends – If there are any additional documents needed to finalize the process when your loan is approved, the missing documents are required within 3 days of receiving your loan commitment letter.
PNC Bank $500 Close Date Guarantee
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 3 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 1-to-4 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 PNC Bank 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 PNC Bank reserves the right to withdraw, terminate, or amend this Guarantee at any time without notice except for eligible purchase or refinance transactions submitted prior to PNC’s withdrawal, termination or amendment.
Take advantage of this PNC Bank mortgage promotional offer to get $50 cash back for your application and a $500 closing date guarantee.
Review this PNC Bank Checking Account Bonus as well to get a cash reward when you open a PNC checking account.
Get your home mortgage from PNC Bank to take advantage of this special offer.