RefiNow™ with PNC Bank

PNC is offering a new Fannie Mae® refinance program that may make it easier for you to access more savings than ever before.

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RefiNow™ Details

Benefits of RefiNow™

  • Eligible borrowers can save between $1,200 and $3,000 per year*.
  • Lower costs can also include a credit up to $500 for your appraisal fee.
  • Expanded eligibility requirements means it’s more likely you will qualify.

Is RefiNow™ right for you?

  • Your current mortgage must be backed by Fannie Mae.  Use Fannie Mae’s lookup tool to see if your loan qualifies.
  • The property must be an owner-occupied single-family residence. Vacation homes or investment properties are not eligible.
  • Your current income must be at or below 80% of the Area Median Income. 
  • You cannot have missed a mortgage payment in the past six months, and no more than one missed mortgage payment in the past 12 months.
  • You’ll need a minimum 620 FICO score, a mortgage with a loan-to-value ratio up to 97%, and a debt-to-income ratio of 65% or less.

*Click here for more information about the benefits of a RefiNow loan.

Important Legal Disclosures & Information

Freddie Mac and Fannie Mae have adopted a new refinance option for loans to borrowers with incomes at or below 80% of area median income and you may be eligible to take advantage of this program. If your mortgage is owed or guaranteed by either Freddie Mac or Fannie Mae, you may be eligible to refinance your mortgage under this refinance option.

You can determine whether your mortgage is owned by either Freddie Mac or Fannie Mae by checking the following websites:

PNC is a registered service 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.

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.

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