Jumbo Loan Refinance and Rates

We Are a Trusted Partner

Whether you need a mortgage pre-approval^[1] 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.

Facts & Figures

If you’re looking to refinance a loan over $832,750 you’ll most likely need a special type of mortgage. With a jumbo loan from PNC, you can finance up to $5 million.

Standard fixed or adjustable rate terms.
Limited Cash-out/Rate-Term Refinance options.
Fixed loan terms between 15 and 30 years.
Finance between $832,750 and $5 million.
Adjustable rate loans are available in periods of 5, 7, or 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 on product, resulting in a change in your monthly payment amount.
Can be used for both primary and second homes, as well as for investment properties.
Borrower will generally need assets beyond those needed for the loan transaction (including required reserve assets).

Cost & Fees

Typically these fees range from 2% to 6% of the loan amount.

Read "What If I Can't Afford Closing Costs?"

For borrowers who establish and/or maintain a relationship with our PNC Private Bank℠ business that includes at least $500,000 in deposit and/or investment balances, relationship discounts may be available for mortgages.

Jumbo Loan FAQ

Tools & Calculators

Comparing loan options? Just looking for how much you can borrow? Use our home lending calculators to understand your home buying options and help you decide.

The Abbreviated Guide Through the Refinancing Process

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.

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.^[2]
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

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 1-888-660-5957 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^[3]	Make a one time, same day payment using our Voice Banking service.	Pay over the phone with Voice Banking by calling 1-888-660-5957. 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.

Credit History	Specific credit requirements vary based on a range of criteria including loan-to-value, debt-to-income ratios, previous credit history, and assets used to qualify for the loan.
Debt-to-Income Ratio	Debt-to-income (DTI) ratios measure how much of a client’s income is allocated to repaying debt obligations. To help prevent clients from overextending themselves financially, PNC considers DTI ratios when reviewing applications for mortgage loans. To calculate an estimate of your DTI ratio, simply divide your total monthly debt payments (including your future monthly house payment) by your total monthly gross (pre-tax) income. It is typically recommended to keep your DTI ratio at or below 36%. However, certain products and programs may allow for a higher DTI ratio based on the different loan characteristics. A PNC Mortgage Loan Officer will help determine your specific DTI ratio requirements.
Down Payment	Jumbo mortgages can be used to refinance a home up to 80% of the home value. Ranges and eligibility may vary based on loan details, consult a Mortgage Loan Officer for additional information.

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Jumbo Mortgage Refinance Loan

Refinancing options for higher loan amounts

Current Rates

We Are a Trusted Partner

Whether you need a mortgage pre-approval[1] 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:

Facts & Figures

If you’re looking to refinance a loan over $832,750 you’ll most likely need a special type of mortgage. With a jumbo loan from PNC, you can finance up to $5 million.

Cost & Fees

Jumbo Loan FAQ

Top customer questions about jumbo loans.

How do I know if I need a Jumbo Loan?

How much can I borrow?

Will my rate ever change?

What will my interest rate be?

Tools & Calculators

Comparing loan options? Just looking for how much you can borrow? Use our home lending calculators to understand your home buying options and help you decide.

Am I Better Off Refinancing?

What Will My Refinancing Costs Be?

How Much Could My Fixed Rate Mortgage Payments Be?

The Abbreviated Guide Through the Refinancing Process

Understand the basics before you start the refinancing process.

Financial Basics

How Does Refinancing Work?

Refinancing Application Checklist

Calculate: Am I Better Off Refinancing?

Making Your Payments

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Whether you need a mortgage pre-approval^[1] 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: