Loans:
HELOC

Making the most of the place you call home.

That’s our goal.

You’ve worked hard to build the equity in your home, and now’s the time to make your home work for you. Whether you want to use the equity to make improvements to your home, consolidate debt, or pay for a major expense, a Park Community Credit Union Home Equity Line helps you achieve your goals.

It all starts with understanding your needs. Apply online, stop by your local branch, or call us at 502.813.2289 to get started.

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Home Equity

Flex Home Equity Line

  • FIXED RATE OPTION
    • Terms up to 10 years*
    • $2,500 minimum advance
  • VARIABLE OPTION
    • Standard, everyday rates as low as 3.50% APR*
    • 10 year draw period*
    • 20 year repayment period*
    • Interest only payments available
    • $500 minimum advance
  • MULTIPLE-LOCK FEATURE
    • One credit line, with up to 4 loans
    • Lock in up to 3 fixed-rate advances at a time
  • Financing up to 90% of market value, less first mortgage balance
  • $5,000 minimum line of credit
  • Possible tax deductible**

Express Home Refi

  • Available on properties without a first mortgage
  • Fixed Rate
  • Terms from 5 to 15 years***
  • Financing up to 80% of market value
  • Loans from $5,000-$75,000

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 *Annual percentage rate. The 3.5% APR is for illustrative purposes only and assumes a borrower with excellent credit. Rates are subject to change without notice. All loans are subject to approval. Availability, terms, rates, and conditions may vary, are subject to change, and are based on loan to value, lien position, creditworthiness, qualifications, and the condition, location, and type of collateral. Available on primary residences only. Fees and costs of $866 fee to open the plan apply. Loans are not available in all states. Property insurance is required. Other restrictions and limitations may apply. $5,000 minimum line of credit. Interest-only repayments may cause your monthly payment to increase, possibly substantially, once your credit line transitions into the repayment period. Variable rate and fixed rate advances available. Variable rate advances: Interest only payments are required. Your monthly payment due may change quarterly based on rate changes. The APR is based on an index plus a margin. The APR will vary with Prime Rate (the index) as published in the Wall Street Journal Prime Rate plus or minus a margin as determined by credit score and loan-to-value ratio. As of November 1, 2016, the variable rates ranged from 3.5% APR to 15.0% APR. Fixed rate advances: 120-month maximum term. 0.5% APR will be added to the qualifying rate with a minimum rate of 5.0% APR. No more than three fixed rate advances at one time. Minimum advance is $2,500.

**Park Community Credit Union does not provide tax advice. Consult a tax advisor regarding the deductibility of interest and charges for your unique tax and financial situation.

***Repayment example: $30,000 financed at 4.125% annual percentage rate with a term of 10 years would result in a  principle and interest payment of $305.59. Taxes, property insurance, and flood insurance (if applicable) are not included in the monthly payment amount. Your actual payment amount may be higher. Rates, terms, and conditions are subject to change and may vary based on creditworthiness, qualifications, and collateral conditions. All loans subject to approval.

 

 

 
 
 

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