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.
Flex Home Equity Line
- FIXED RATE OPTION
- Terms up to 10 years*
- $2,500 minimum advance
- VARIABLE OPTION
- 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
*Rates, terms, and conditions are subject to change and may vary based on creditworthiness, qualifications, and collateral conditions. All loans subject to approval. Other restrictions and limitations may apply. Variable rate advances: variable rates based on the Prime Rate (index) as published in The Wall Street Journal and may be adjusted quarterly by applying the predetermined margin to the index published 10 days prior to the change date, rates based on credit score, minimum rate is 2.99% and the maximum annual percentage rate is 15% (as of February 18, 2016), $5000.00 minimum line, and $500 minimum advance. Fixed rate advances: payments separate from variable rate advances, maximum term is 240 months, 0.5% will be added to the qualifying rate with a minimum rate of 5.0%, maximum of 3 fixed rate advances at a time, and a $2,500 minimum advance. Maximum LTV is 90%. Repayment example: $20,000 financed at 5.00% annual percentage rate with a term of 7 years would result in a monthly payment of $282.68. Payments do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater. Home Equity Line of Credit available in AL, IN, and KY. Owner occupied properties only. Subject to credit and property approval.
**Consult a tax advisor regarding the deductibility of interest and charges.
***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.