PNC Bank Home Lending Grants (PNC Grant / Low-Income Grant / LMI Borrower Grant)

What is PNC Bank Home Lending Grants (PNC Grant / Low-Income Grant / LMI Borrower Grant)?

PNC Bank Home Lending Grants (PNC Grant / Low-Income Grant / LMI Borrower Grant) is a grant for homebuyers in New Jersey, administered by PNC Bank, N.A.

• PNC Bank offers a set of home-lending grants for low- and moderate-income borrowers: a Low-Income Grant up to $2,500 (income at or below 50% of AMI), a Low to Moderate Income Borrower Grant up to $3,000, and the PNC Grant up to $5,000. Funds can be applied to discount points, down payment, closing costs, or escrow at closing, and eligibility and amount vary by subject property location within PNC's assessment area (including New Jersey).
• Low-Income Grant up to $2,500.
• LMI Borrower Grant up to $3,000.
• PNC Grant up to $5,000.
• Usable for points, down payment, closing costs, or escrow.
• Funding comes from PNC Bank (CRA / affordable lending grant programs).

How much assistance does it provide?

PNC Bank Home Lending Grants (PNC Grant / Low-Income Grant / LMI Borrower Grant) offers between $2,500 and $5,000 in assistance.

• Award tiers: Low-Income Grant up to $2,500 (income ≤50% AMI for property location); Low to Moderate Income Borrower Grant up to $3,000 (income ≤80% AMI in an LMI census tract within PNC's assessment area); PNC Grant up to $5,000 (targeted LMI census tract within PNC's assessment area).
• The program can be combined with PNC Community Loan and other PNC affordable lending products; grants may combine where eligible.
• Amounts are the program's published maximums, not an offer — PNC Bank, N.A. determines any individual award.

Do you have to pay it back?

PNC Bank Home Lending Grants (PNC Grant / Low-Income Grant / LMI Borrower Grant) is structured as a grant, so it is not repaid.

• Repayment is triggered by Grant; no repayment terms stated.
• The assistance is recorded in None (grant) position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

PNC Bank Home Lending Grants (PNC Grant / Low-Income Grant / LMI Borrower Grant) is open to buyers who will live in the home as their primary residence.

What are the income limits?

PNC Bank Home Lending Grants (PNC Grant / Low-Income Grant / LMI Borrower Grant) limits household income to 80% of the area median income, which varies by county and household size.

• Low-Income Grant: qualifying income ≤50% of AMI for the property location. LMI Borrower Grant / PNC Grant: qualifying income at or below 80% of AMI based on property location, generally in low- or moderate-income census tracts within PNC's assessment area.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

PNC Bank Home Lending Grants (PNC Grant / Low-Income Grant / LMI Borrower Grant) can be used for Primary residence.

Where does it apply?

PNC Bank Home Lending Grants (PNC Grant / Low-Income Grant / LMI Borrower Grant) serves buyers purchasing anywhere in New Jersey.

• The program targets specific areas: Low- or moderate-income census tracts within PNC Bank's assessment area (includes New Jersey).

How do you apply?

Applications for PNC Bank Home Lending Grants (PNC Grant / Low-Income Grant / LMI Borrower Grant) go through PNC Bank, N.A., which publishes the current terms and the application steps on its own site.

1. 1

   Contact PNC Bank, N.A. to reserve funds

   Funds are reserved through Apply through a PNC mortgage loan officer / Home Lending Center; eligibility auto-reviewed., and are subject to availability.

2. 2

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.