Rapid Refinance

Take advantage of a low cost solution to refinance your mortgage. 

Consolidate your mortgage and home equity loan with a low fixed interest rate. You may even pay off your home sooner[1, 2].

Ready to Apply?

Provide preliminary information to start the pre-approval or loan process.

Let's Talk

We'll help you with an application.

Check Current Home Equity Rates*

Why choose a Home Equity Rapid Refinance

This is a smart choice when you want to refinance your mortgage and borrow money from your home equity at the same time. Benefits can include:

  • Saving money by refinancing at a lower rate
  • Consolidating a mortgage and home equity loan into one loan and payment
  • Interest rate that’s often lower than a Home Equity Line of Credit or Installment Loan
  • Interest paid may be tax deductible[3]

Why choose PNC

  • Competitive rates.
  • Get a 0.25% interest rate discount when you set up and maintain automatic payments from a PNC checking account[4]*.
  • Fast and easy approval process.


Refinancing Basics

Refinancing can be an opportunity to lower your monthly payments, pay off your loan quicker or reduce your overall interest expense[2].

Similiar to when you first purchased your home, refinancing your mortgage comes with fees and closing costs. To get a better understanding on how much money you might save visit the tools and calculator section below.

Home Equity Calculators

Tools and resources to calculator affordability and more.

Calculator: Am I Better Off Refinancing?

Ways to Apply

  • Online through the website
  • By phone: 1-877-535-6319 (Monday – Friday 7 a.m. to 10 p.m. ET, Saturday – Sunday 8 a.m. to 5 p.m. ET)
  • In person at a branch

What you need to apply with PNC

Find Out What To Expect When You Apply

Submit Your Credit Application
Apply for a home equity line of credit or home equity installment loan application online, by calling 1-877-535-6319 or by visiting a PNC branch.

The minimum amount of information you should be prepared to answer at the time of application includes:

  • Personal Information (Full name, Social Security number, Date of Birth, employment status, income)
  • Contact Information (phone, email)
  • Property Information (address, property type, estimated property value)
  • Requested Loan Amount

Upon submission of your application, PNC will obtain and review your credit history. Approval for credit is contingent upon your credit history and other factors.

Provide Required Documentation
Additional information and other required documentation may be needed to process your credit application. Depending on your individual financial situation, you may be required to provide some or all of the following:
  • Tax statements
  • Copies of pay stubs
  • Financial statements (bank and asset)
  • Information on additional properties you may own

Click here for a list of possible documentation, depending on your individual situation.

Documentation, Credit History and Property Valuation Review

We’ll evaluate your credit history, verify your employment, verify your income, and review all supporting documentation submitted.

We’ll verify ownership and complete a valuation of the property being pledged

as collateral by ordering an appraisal product from an independent service provider, who will always inspect and photograph the property’s exterior. In some cases, this independent service provider may call you to setup a time to inspect both the property’s interior and exterior. A review of all information will enable us to determine that you meet the qualifications for the credit product for which you applied.

Final Credit Decision

If your request for credit is approved, we will communicate the final approval or a counter-offer to you, detailing any closing stipulations. For example, updating the declaration page of the Homeowner’s Insurance Policy listing PNC Bank, NA as loss payee is required. We’ll then schedule a closing date and verify the amount(s) to be disbursed, if applicable, including the amount(s) of any required payoffs.

If we are unable to approve your request for credit, you will receive a communication indicating the reasons for the decline.

Loan Closing and Disbursement of Funds

At closing we will require two forms of identification; one must be a valid photo ID. After reviewing the terms and conditions of your line of credit or installment loan, you will be asked to acknowledge and accept those terms and conditions by signing loan documents.

When using a primary residence as collateral, a three business day right to cancel (“rescission”) period is required by law to allow applicants the opportunity to cancel their home equity line of credit or home equity installment loan application.

Once your right to cancel period has expired, the funds from your home equity line of credit will be available or the funds from your home equity installment loan will be disbursed.

Frequently Asked Questions

Answers to common questions about Rapid Refinance with PNC


Why might I refinance?

  1. When current market interest rates are lower than the rate on your existing loan
  2. You want to pay off your mortgage more quickly with a shorter term
  3. You want to lower your monthly payment
  4. You'd like to convert your adjustable-rate loan to a fixed-rate loan

How much can I borrow?

Banks typically set a maximum loan-to-value (LTV) limit for how much you can borrow. At PNC, the maximum allowable LTV for the Home Equity Rapid Refinance Loan is 84.9%, and in some geographies and loan scenarios, it is lower. To figure out how much you can borrow, you must know three things: 1) your home's value, 2) the sum of all mortgage loans that you have on the property, and 3) the maximum LTV established by your lender. For example, let's assume a home is valued at $200,000, the maximum LTV is 84.9%, and there are $110,000 in mortgage loans already owed on the property. Just multiply the home's value ($200,000) by the LTV (84.9%) to calculate the maximum borrowing limit, which in this case is $169,800. Then subtract out the loans already on the property ($110,000) to know how much equity is remaining. In this example, you could borrow up to an additional $49,800.

What will my rate be?

Rate is calculated based on a variety of factors, including credit qualifications, loan-to-value, loan amount and other criteria. The best available rates include a discount for automatic payment from a PNC checking account[4].

Is my interest tax deductible?

Interest on home equity loans/lines that are not considered home acquisition debt may not be tax deductible. Please consult your tax advisor.

What property types are eligible for Home Equity Lines of Credit or Home Equity Loans?

Single-Family Primary Residence; Vacation, 1-2 Family Homes, Condos, and Townhouses

Is there a prepayment penalty if I payoff my Home Equity Loan?

There is no prepayment penalty imposed for paying off your home equity installment loan account at anytime. However, certain closing costs may be paid by PNC on your behalf at the time of your loan closing. You may be responsible for reimbursement of those costs if you pay off your loan within 36 months of closing. If the loan is paid off 36 months after closing, repayment of these costs is not required.

How fast will I get my money?

Funds are normally disbursed on the fourth business day after you sign your loan documents. This is because Federal regulations require a 3-day rescission period during which time you have the right to cancel your loan.

Can my property taxes and insurance be escrowed with a PNC Home Equity Rapid Refinance?

No. But we can assist you in setting up an Auto Savings plan, to a new or existing PNC account, to help you budget for your property taxes and insurance.

Ready to Apply? Let's Talk

Discuss your preferences, learn more about your options, or apply online in as little as 15 minutes!

Compare Home Equity Products

Learn how you can leverage your home's equity with PNC's Home Equity Loans and Lines of Credit.

Compare Solutions

Apply Now

We are available at branches to discuss your preferences and learn about your loan options.

Apply for a Home Equity Loan

Apply for a Home Equity Line of Credit

Refinancing Demystified

Refinancing Demystified

Learn the ins-and-outs of refinancing your home and how it can help you save.

The video explores how refinancing can be an opportunity to lower your monthly payments or help you pay off your loan quicker[2]

Important Legal Disclosures and Information

  1. Credit is subject for appoval.
  2. 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.

  3. Interest on home equity loans/lines that are not considered home acquisition debt may not be tax deductible.  Please consult your tax advisor.

  4. Discount only applicable as long as payments are set up for automatic deduction from a PNC checking account. The removal of any discount, such as auto deduction or employee, will increase the rate.

*Advertised rates for the Home Equity Installment Loan, Choice Home Equity Line of Credit and Home Equity Rapid Refinance Loan include a 0.25% interest rate discount for automatic payment from a PNC checking account. 

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.

Bank deposit products and services provided by 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.