Because USAA only accepts a select population to their financial institution, they can offer exceptional terms, especially on VA loans. It’s ideal to accept a 5-1 ARM if  your income may increase, you plan to live in the home for only a few years, you are coming to the end of your current home loan, or you expect interest rates to remain steady. Just provide us with some basic information and a Mortgage Loan Officer will call you back to complete your application. This site rocks the Classic Responsive Skin for Thesis. PNC is unique because they will also take into consideration nontraditional credit history, like the amount of on-time rent payments, when determining a borrower’s eligibility. Continue reading to understand the differences between loans and when you would choose one over another. What is your current zip code? PNC offers several options to refinance a mortgage, including: Rate-and-term refinance loans. It may be your best option. A fixed-rate mortgage makes budgeting for your mortgage payment easier than with an adjustable rate mortgage. PNC offers a variety of loan programs to suite multiple needs such as VA, FHA, Jumbo and more. Your rate is calculated based on a variety of factors, including credit qualifications, loan-to-value, loan amount and other criteria. You might discover that banks with higher interest rates will be less expensive in the long run. To find current rates in your area, you’ll need to visit PNC’s website to enter your information. About Us | Contact Us | Privacy | Terms of Use, All lenders offer a variety of products. It’s always best to shop around for the best rate when it comes to refinancing. A digital pre-approval is a great first step in your home buying journey. * Are you eligible for a VA home loan? Read a summary of privacy rights for California residents which outlines the types of information we collect, and how and why we use that information. If you qualify for a VA loan you are subject to lower PNC Bank refinancing rates. Gina Rainey entered the mortgage industry over 20 years ago, as it combined her financial expertise and passion for helping people. After the first rate adjustment, your interest rate can change on a regular basis until you pay off your mortgage. A PNC mortgage pre-approval means you and your co-borrower’s (if applicable) income, employment and assets have been verified and PNC can issue a firm commitment stating that you are eligible to borrow up to a specified amount, based upon your financial profile. Refinancing into a lower rate may lower your monthly payment and save you money over the life of your loan. All lenders offer a variety of products. Both banks do not currently let a borrower complete the entire. See how PNC Bank mortgage rates compare with other lenders rates today to … Other considerations when picking a refinance product: Traditional home equity loan, which starts at $1,000, Accelerated PNC home equity loan, minimum is not disclosed. To get the most of this PNC experience, When you apply, a Mortgage Loan Officer will help you determine the loan that's best for you. Year-to-date business profit-and-loss statement for current year, if more than three months have passed since the end of the tax year, Current homeowner’s insurance policy, and flood any other property related insurance, such as flood insurance, if applicable, Original bank statements for the last three months, including savings, checking, investment accounts, and retirement accounts, Stocks and securities account statements for the last three months, Bankruptcy/Consumer Credit, if applicable, Explanation of discrepancies on credit report. Finding a lender that works with your best interest in mind is just as important as the rates you secure. out a contact form and we'll get in touch. Change the length of your loan to pay it off faster or change from a variable rate to a fixed rate. PNC mortgage refinance loans. Adjustable rate loans are available in periods of 3, 5, 7, and 10 years during which the interest rate remains unchanged, followed by an adjustment period in which the interest rate may increase or decrease on an annual or semi-annual basis, dependent upon the product, resulting in a change in your monthly payment amount. Spend, save and grow your money with Virtual Wallet®. Because of their eligibility terms, USAA does not offer FHA or HELOC products. If refinancing is important to you, but your credit score needs a bit of work, and money is tight, PNC might be a good place to start your refinancing research. Shares. With an Adjustable Rate Mortgage, you’ll start out with a low rate and after a few years, your rate will reset with a new rate that can be either higher or lower depending on market conditions at the time the adjustment occurs. Take advantage of a lower mortgage rate. Member FDIC. With a jumbo loan from PNC, you can finance up to $5 million. There are many fees that can accompany a refi — do the math to see if the fees offset the interest rate. PNC Mortgage Payment. For current homeowners, PNC Bank offers mortgage refinancing and home equity loans. Also, it’s possible to be eligible even if you owe more on your loan than your home is worth. Refinancing at a longer repayment term may lower your mortgage payment, but may also increase the total interest paid over the life of the loan. do not use pnc for your mortgage! A College Student's Guide to Build Good Credit, What You Need to Know Before You Finance Your Next Car, Making Your Money Work Harder at Tax Time & Beyond, How to Make the Most of Your New Virtual Wallet®. PNC Mortgage participates in the U.S. Treasury’s Home Affordable Refinance Program (HARP) – a program that helps previously ineligible homeowners qualify for refinancing. In 2008, PNC Mortgage acquired National Bank. .D. For a first mortgage, they require a lower down-payment. Signed, completed tax returns for the past two years, including personal, partnership, and corporate, if applicable, including all schedules. Refinance a Home Receive a mortgage checkup to determine your best refinancing options with PNC Mortgage. If you are looking to refinance, an FHA loan from PNC Mortgage may be an option for you. 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