Pinnacle Adds Two Options for Home Equity Lending in Charlotte Minority Communities

Pinnacle Adds Two Options for Home Equity Lending in Charlotte Minority Communities

Lines of credit available for majority-minority communities and low- to moderate-income homeowners

October 26, 2023

Pinnacle Financial Partners is deepening its reach into minority and underserved communities while doubling down its commitment to fair and equitable finance in Charlotte. The firm has added two new home lending options specifically for households in majority-minority communities, including one just for those making less than 80 percent of the area median income. These home equity lines of credit (HELOCs) come with more flexible terms and rates than traditional options and are designed to meet the needs of these communities.

They join an array of existing Pinnacle lending options available to help people achieve the dream of homeownership and begin to build wealth using their home equity.

  • The Pinnacle 100 mortgage is designed to help low- to moderate-income borrowers and offers the option to finance the entire purchase price.
    • This option is available to home buyers with a credit score of at least 650 who make less than 80 percent of the area median income.
  • Pinnacle Down Payment Assistance provides up to $15,000 to make a down payment, pay closing costs or lower the mortgage interest rate.
    • This is a loan made to the home buyer that doesn’t need to be repaid for 30 years or until ownership of the home is transferred or it is refinanced.

“A home is often your most valuable personal asset and can form the foundation of a family legacy,” said Kim Graham, Pinnacle’s community development officer. “Some haven’t realized or taken advantage of it because they haven’t been connected with the right tools, like HELOCs, or they lack the knowledge to make it happen. In many cases, an entire community may be underbanked, lacking easy access to the financial tools and advice some of us take for granted. That’s a gap we aim to fill. We’re here to help people realize the potential for wealth they’re sitting on and use it to improve their homes and their lives.”

A HELOC can help protect the value and livability of a home by funding important repairs and upgrades that can increase its value. It’s a particularly important tool in cities like Nashville, where longstanding single-family neighborhoods are seeing sharp increases in property values and development around legacy homeowners. With a primary focus on partnering with highly populated minority and underrepresented communities, HELOCs can be a tool for homeowners who want to take advantage of changing neighborhoods to build greater prosperity for themselves and their families.

These HELOCs are available in amounts from $5,000-100,000. Those interested in learning more or applying can visit for details or visit their nearest Pinnacle office to start a conversation. Eligibility will be determined after application.

Geographic restrictions apply. All mortgage and loan options are subject to credit approval. Programs and details are subject to change without notice.

Pinnacle Financial Partners provides a full range of banking, investment, trust, mortgage and insurance products and services designed for businesses and their owners and individuals interested in a comprehensive relationship with their financial institution. The firm is the No. 1 and fastest growing bank in the Nashville-Murfreesboro-Franklin MSA, according to 2023 deposit data from the FDIC, and is listed by Forbes as No. 27 among America’s Best Banks, higher than any other bank headquartered in Tennessee, North Carolina, South Carolina or Georgia. Pinnacle also earned a spot on the 2023 list of 100 Best Companies to Work For® in the U.S., its seventh consecutive appearance and was recognized by American Banker as one of America’s Best Banks to Work For 10 years in a row and No. 1 among banks with more than $11 billion in assets in 2022.

Pinnacle entered the North Carolina market in 2017 when it acquired BNC Bancorp, offering community bank service with the resources and sophistication of a larger firm. Pinnacle is ranked as the No. 1 workplace in the Triad, Triangle and Charlotte markets, as listed by the Triad Business Journal, Triangle Business Journal and Charlotte Observer.

The firm began operations in a single location in downtown Nashville, TN, in October 2000 and has since grown to approximately $47.5 billion in assets as of September 30, 2023.  As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in 17 primarily urban markets across the Southeast.

            Additional information concerning Pinnacle, which is included in the Nasdaq Financial-100 Index, can be accessed at