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PNC Bank vs. Bank of America mortgages

When choosing a home loan between these two big banks, it comes down to rates versus fees.

Updated

Fact checked

How do PNC and Bank of America Mortgage compare?

PNC logo
Bank of America Mortgage logo
  • Choose this lender for low down payment options
  • Watch out for poor customer service
  • A good option for commercial real estate loans
  • Choose this lender for low interest rates
  • Watch out for bad customer reviews
  • A good option for borrowers without much credit history

Loans offered

  • Purchase
  • Refinance
  • Jumbo
  • Home Equity
  • FHA
  • VA
  • USDA
  • Purchase
  • Refinance
  • Jumbo
  • Home Equity
  • FHA
  • VA
  • USDA

Minimum credit score

Conventional: 620

Conventional: 620

States available

Available in all states

Available in all states

Pros

  • Multiple loan choices
  • Low down-payment options
  • Online application tracking
  • In-person accessibility
  • Lower than average interest rates
  • Alternative credit data accepted
  • Discounts for existing clients available

Cons

  • Limited branch locations
  • Customer complaints
  • High volume of consumer complaints
  • Limited coverage in the Midwest
  • History of irresponsible mortgage lending

Customer reviews

PNC isn't credited with the Better Business Bureau (BBB), but receives an A- rating from it as of September 2019. On average, customers give PNC a low 1 out of 5 stars on the BBB site. Of the over 1,500 complaints on the BBB website, only two are unanswered and one is unresolved. Many customers report having issues with customer service, unexpected fees and poorly handled fraud cases.
Bank of America has been accredited with the Better Business Bureau since 1949, and boasts an A+ rating for its operations and interaction. It falls short in the customer service department, though. As of August 2019, the BBB recorded 5,561 complaints, and Bank of America has earned a one-star rating from 280 customer reviews. It's a similar story on TrustPilot, where the bank has a 3.9/10 rating based on 61 reviews. While customers praised the savvy online experience and diversity of mortgage products, many were frustrated with the service they received. It's worth noting that these consumer reviews are for Bank of America as a whole — and not for its mortgages specifically.

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