By entering in basic information, value of property, loan amount, estimated credit score, and zip code of the area you are interested you will get corresponding interest rates for several popular loan programs.

Results will show you a snapshot of mortgage refinance rates and corresponding annual percentage rate (APR) for competitive programs that PNC offers. The interest rate is the percentage you pay to borrow money from a lender for a specific period of time called the term. The APR listed is the interest rate plus additional fees or expenses associated with taking the mortgage. APRs are a great way to compare lenders. You will be able to expand the results to show multiple programs along with various adjustable-rate programs. Rates are market sensitive so your results shown will have a date and time.

Mortgage refinance rates are based on the perceived risk of lending. The greater the risk to the lender, the higher the mortgage refinance rate to offset that risk. And several factors determine risk, including general economic conditions, specific lender practices, and individual borrower qualifications. Individual factors like credit score, and loan characteristic’s such as Loan to Value and Debt to Income will also drive rates. To get a complete understanding of how rates are determined please visit our Mortgage Rates Explained Insight article.

Interest rate refers to the (APR) annual cost of a loan to a borrower as expressed as a percentage.

Annual Percentage Rate is the annual cost of a loan to a borrower that also includes fees. Fees may include such things as application fee, origination fee, discount points and mortgage insurance.

APR helps you get more information about what you are really paying. Every lender is required to provide you with the rate and corresponding APR which allows you to have a good basis to compare your cost to borrow. Review rates along with APR’s when shopping for a lender.

Your mortgage refinance rate influences both your monthly payment and how much money you will pay overall, so getting the best rate available is very important. Factors that affect your rate include credit score, value of the home and the length of your financing term. If you maximize each you will lower that rate. Key steps to help lower your rate:

• Improve credit score.
• Have a steady employment history.
• Lower your debt to income (DTI) ratio.
• Look for alternative loan programs (term, adjustable rates, etc.).