For Adjustable Rate Mortgages loans ("ARMs"), rates may increase after settlement.
Combination Loan Refinance
Refinance up to 90% of your home's value with no PMI.
Overview
With the PNC Mortgage Combination Loan, you can refinance your first mortgage for 80% of your home’s value, and receive a home equity line of credit for 9.9% of the value.
Facts & Figures
Refinance your home up to 89.9% of your home’s value with a first and second mortgage. With the PNC Mortgage Combination Loan you can refinance your first mortgage for 80% of your home’s value, and obtain a home equity line of credit for 9.9% of the value.
- Potentially lower your monthly payment by eliminating private mortgage insurance (PMI).
- Interest on both loans may be tax-deductible. Consult a tax advisor.
Cost & Fees
Typically these fees range from 2% to 6% of the loan amount.
An Abbreviated Refinancing Process Guide
Understand the basics before you start the refinancing process.
Credit Score Basics
When you buy or refinance, your credit score is one of the first things a lender looks at. It helps them determine if you qualify for a loan, and what interest rate they can offer you.
Factors that affect your Credit Score:
- Length of Credit History
- Amounts Owed
- Payment History
- New Credit
- Types of Credit Used
- Derogatory Credit
Your credit score reflects how reliable you are as a borrower and is determined by your overall borrowing and repayment history to credit card companies and other lenders.
Factors that Determine Your Rate
Lenders start with the par rate, then look at your risk profile to determine what rate they will offer you.
Rates are usually based on a combination of the following factors:
- Down Payment
- Loan terms
- Loan to Value Ratio (The percentage of the lesser of the sales price/appraised property value that is borrowed from a bank or lender. A down payment of 20% would create a loan-to-value of 80% *State specific rules may apply).
- Points
- Loan Product
- Debt-to-Income Ratio
Escrow Basics
An Escrow Account on your loan allows PNC Mortgage to make payments for certain bills related to your property, such as real estate property taxes, homeowners insurance, flood and other property related insurance, mortgage insurance and lease payments. Homeowners are generally required to have an escrow account until a certain loan to value ratio is met.
Escrow Payment– That portion of a mortgagor's monthly payments held by a lender or servicer in an account to pay taxes, homeowners insurance, mortgage insurance, lease payments, and other property related items as they become due. Also called impounds or reserves in some states.
Escrow Analysis– The periodic examination of escrow accounts to determine if current monthly deposits will provide sufficient funds to pay taxes, insurance, and other bills when due.
Your annual Escrow Analysis Statement contains all the information you need to understand your previous and projected mortgage payments.
Refinancing Demystified
Learn more about refinancing and how to find out if the process could be worth it for you.
Looking to refinance? See options to lower your interest rate, payment, change terms, consolidate debt/get cash out, or take advantage of specialized loan products and programs.
Which lending option is right for you depends on a number of factors, such as how much equity you have, how long you plan to stay in your home and if you want to receive money back. Before you decide, you should understand the basics.
To apply for a refinance, you’ll need to provide information about your income, assets and debts, plus any special circumstances that may impact your ability to repay.
In addition, the lender will arrange for an appraisal of your home, flood determination, a title search and title insurance. They may also set up an escrow account to pay for necessary insurance and property taxes.
Refinancing Application Checklist
Use this list to gather the documents you’ll need to refinance.
To apply for a refinance, you’ll need to provide information about your income, assets and debts, plus any special circumstances that may impact your ability to repay.
In addition, the lender will arrange for an appraisal of your home, flood determination, a title search and title insurance. They may also set up an escrow account to pay for necessary insurance and property taxes.
Be prepared to provide some or all of the items below:
Income Verification
- Pay stubs for the last 30 days.
- W-2 forms for the last two years.
- Child support/alimony – Child support agreement and/or divorce decree and/or 12 months of canceled checks.
- Award letter/1099 for social security, pension and disability.
If You Are Self Employed
- Signed, completed tax returns for the past two years, including personal, partnership, and corporate, if applicable, including all schedules.
- Year-to-date business profit and loss statement for current year, if more than 120 days have passed since the end of business tax year.
Property Information
- Most recent property tax bill.
- Current Homeowner's insurance policy, flood, and any other property related insurance, if applicable.
Assets
- Original bank statements for the last two months, including savings, checking, and investment accounts.
- Stocks and securities account statements for the last two months.
Payment History
- Child support/alimony – Child support agreement and/or divorce decree and/or 12 months of canceled checks.
- Bankruptcy/Consumer Credit, if applicable.
Additional Information, If Applicable
- Explanation of discrepancies on credit.
| Payment Methods | Main Details | How To Use |
|---|---|---|
| PNC Online Banking | Make a payment to your account using PNC Online Banking. You can schedule one time or recurring payments. | Navigate to PNC Online Banking and select your account. Click Make a Payment on your account activity screen to schedule a payment. |
| Automated Payments | Enroll in the Automated Payment Program and have your monthly payment automatically deducted from your deposit account. | Download, complete, and return the Automated Payment Authorization form using the instructions on the form OR call 1-800-822-5626 to have the form emailed to you to be submitted electronically. |
| Bi-Weekly Automated Payments | Enroll in the Bi-Weekly Automated Payments Program and have half of your monthly mortgage payment automatically deducted every 2 weeks from your deposit account. | Download, complete, and return the Bi-Weekly Automated Payment Authorization form to the address or fax number listed on the form, or to your local PNC branch. |
| Pay by Phone - Voice Banking | Make a one time, same day payment using our Voice Banking service. | Pay over the phone with Voice Banking by calling 1-800-822-5626. If paying from a non-PNC deposit account, have your account number and routing number available. |
| In-Branch Payment | Make a payment at any PNC Branch. | Visit a PNC Branch during normal branch hours to make a payment. The payment is effective as of the date the payment is made, although it may take up to 2 business days for the payment to be reflected on your account. |
| Mail Your Payment | Make a payment to your account by mail. Customers residing in AK, AZ, AR, CA, CO, HI, ID, IA, KS, LA, MN, MS, MO, MT, NE, NV, NM, ND, OK, OR, SD, TX, UT, WA, or WY: Address for regular mail payments: PNC Mortgage Payments PO Box 31001-2929 Pasadena, CA 91110-2929 Address for overnight mail payments: PNC Bank c/o Pasadena Tech Center 465 N Halstead St Ste 160 Pasadena, CA 91107 |
Send a check in the mail along with the payment slip provided at the bottom of your monthly billing statement. If you do not have a statement, please make sure to write your PNC account number on your check. Customers residing in AL, CT, DE, DC, FL, GA, IL, IN, KY, ME, MD, MA, MI, NH, NJ, NY, NC, OH, PA, PR, RI, SC, TN, VT, VA, WV, or WI: Address for regular mail payments: PNC Mortgage Payments PO Box 771021 Chicago, IL 60677 Address for overnight mail payments: PNC Bank 350 East Devon Ave Itasca, IL 60143 |
Need More Information?
From first mortgage to home equity, from setting up your online account to payment processing – explore the Understanding Home Lending Center to find the answers you need.
We Are a Trusted Partner
Whether you need a mortgage pre-approval or help after the closing, we’re available online, on the phone or face-to-face in your neighborhood branch. Here’s what you can expect from us:
- Pre-approval Services – So you can house hunt with confidence knowing how much you can afford.
- Online Application Support - Our digital mortgage application lets you track and update your application, through every step of the approval process.
- Service After the Closing – We’re with you every step of the way. We service most of our customers’ home mortgage loans.
Recommended Resources
Have Questions?
We're Here to Help
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. Refinancing at a shorter repayment term may increase your mortgage payment, but may lower the total interest paid over the life of the loan. Contact us to discuss the option that best meets your needs.
Important Notice to Servicemembers and Their Dependents. If you are currently eligible for benefits provided by Servicemembers Civil Relief Act (SCRA), refinancing current debt may not be beneficial.
PNC is a registered mark of The PNC Financial Services Group, Inc. (“PNC”). All loans are provided by PNC Bank, National Association, a subsidiary of PNC, and are subject to credit approval and property appraisal.
©2025 The PNC Financial Services Group, Inc. All rights reserved.
PNC Bank, National Association. Member FDIC
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.