PNC Bank Consumer Loan Complaint

Installment loan Shopping for a loan or lease

PNC Bank Consumer loan department,

Installment loan Shopping for a loan or lease Michigan

I had a revolving HELOC - 3.0 %, $180.00 payment, interest only - which was to expire -/-/-. -/-/- PNC Bank sent me a letter offering me a fixed rate 30 year HELOC at 3.84 %. I applied for that loan, and was approved. Then, PNC went back and did an appraisal on the home and sent me a letter stating they could not loan me $75000.00, they could only offer me $73000.00. They re-wrote the loan again, but this time the interest rate was 5.24 %. This increased my payments from $340.00 to $400.00 a month. I feel this increase may hurt me in the long run. I am a single income household. My wife passed away which has decreased my monthly household income by over $600.00. I have tried to work with PNC to find out why I was not given the 3.84 % as they had promised.

PNC Bank customer in Michigan
Sep 08, 2015

* Source: CFPB Complaint Database

PNC Bank response to complaint:
Closed with explanation

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