Loans:
Home

Finding a place to call home, and then making the most of it.

That’s what matters most.

Whether you’re buying a home, refinancing, or wanting to use your home’s equity, Park Community can help you achieve your goals. Our low-rate mortgage and home equity products help keep your payments low and your wallet full.

Not sure where to start, click here to learn tips from our Anytime Adviser Home Buying Coach, or call 502.815.1152 (800.626.2870 ext. 1152).

Apply Now View Rates


Purchase Mortgages

Conventional Loans

  • Wide range of mortgage financing options: your choice of 5-30 year terms*
  • Minimal out-of-pocket expenses: Financing available with as little as a 5% down payment
  • No prepayment penalty
  • Low closing costs

FHA Loans

  • Flexible mortgage financing options: your choice of 15 or 30 year terms*
  • Minimal out-of-pocket expenses: Financing available with as little as a 3.5% down payment
  • No prepayment penalty
  • Low closing costs
  • No gift restrictions

USDA Loans

  • Available to members whose property and income meet the USDA eligibility criteria
  • Flexible mortgage financing options: your choice of 15 or 30 year terms*
  • No down payment
  • No reserves required
  • 0.4% annual mortgage insurance (calculated in monthly payment)
  • One time 2% guarantee fee can be included in the loan amount
  • No maximum purchase price limit
  • Not limited to first-time homebuyers
  • No prepayment penalty
  • Low closing costs
  • No gift restrictions

Apply Now  View Rates

 

*Repayment example: $150,000 financed at 4.25% annual percentage rate with a term of 30 years would result in a  principal and interest payment of $765.41. Taxes, property insurance, and flood and mortgage insurance (if applicable) are not included in the monthly payment amount. Your actual payment amount may be higher. An escrow account may be required. Rates, terms, and conditions are subject to change and may vary based on creditworthiness, qualifications, and collateral conditions. All loans subject to approval.


Jumbo Mortgages

  • 15 and 30 year terms available
  • Loan amounts up to $850,000
  • Max LTV/CLTV 90%
  • Condos and Patios up to 80% LTV
  • Fixed Interest Rate*
  • Local underwriting
  • Fast turnaround time

Apply Now  View Rates

 

*Mortgage example, a $100,000 30-year fixed rate mortgage loan with an Annual Percentage Rate of 4.962% requires 360 monthly payments of $529.21. Loan payment amount does not include monthly taxes and insurance and your actual payment may be greater. Offer and rates subject to change. Loan subject to underwriting and credit approval. Additional restrictions apply. Originator ID 421794. Equal Housing Lender.


First Time Homebuyer Program

  • No down payment*
  • $800 towards your closing costs*
  • Fixed interest rate*
  • No PMI* (private mortgage insurance)
  • Local underwriting
  • Fast turnaround time

Apply Now  View Rates

 

*Based on 100% loan-to-value and detached property type. 15 and 30 year terms available. For example, a $100,000 30-year fixed rate mortgage loan with an Annual Percentage Rate of 4.962% requires 360 monthly payments of $529.21. Loan payment amount does not include monthly taxes and insurance and your actual payment may be greater. $800 credit will be given on your HUD-1 settlement as a promotional credit. $800 credit only for loans qualifying and closing under the First Time Homebuyer program. Offer and rates subject to change. Loan subject to underwriting and credit approval. Additional restrictions apply. Originator ID 421794. Equal Housing Opportunity.


Mortgage Refinancing

  • Wide range of mortgage financing options: your choice of 5-30 year terms*
  • No prepayment penalty
  • Cash-out options available
  • FHA and USDA financing options
  • Low closing costs

Apply Now  View Rates

 

*Repayment example: $150,000 financed at 4.25% annual percentage rate with a term of 30 years would result in a  principal and interest payment of $765.41. Taxes, property insurance, and flood and mortgage insurance (if applicable) are not included in the monthly payment amount. Your actual payment amount may be higher. An escrow account may be required. Rates, terms, and conditions are subject to change and may vary based on creditworthiness, qualifications, and collateral conditions. All loans subject to approval.


Second Mortgages

  • Flexible mortgage financing options: your choice of 5-15 year terms*
  • Financing available up to 90% of market value, less first mortgage balance
  • Low closing costs

Apply Now  View Rates

 

*$5000.00 minimum loan amount. Repayment example: $50,000 financed at 4.99% annual percentage rate with a term of 15 years would result in a monthly payment of $359.29. Payments do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater. Maximum LTV is 90% for loans $100,000.00 or less. Maximum LTV for loans over $100,000.00 is 80%. Home equity loans available in KY and IN. Owner occupied properties only. Rates, terms, and conditions are subject to change and may vary based on creditworthiness, qualifications, and collateral conditions. All loans subject to approval.


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
  • 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
  • 5 and 10 year terms available***
  • Financing up to 80% of market value
  • Loans from $5,000-$75,000

Apply Now  View Rates

 *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  principal 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.


Your Mortgage Specialists

Mortgage Staff Pics 0115
Stephanie Hester | Real Estate Loan Originator

Mortgage Staff Pics 01152
John Reinhart | Real Estate Loan Originator

Andrew 75x100
Andrew Pope | Real Estate Loan Originator

doug-for-mortgage-page-75-x-100-1016
Doug Spalding | Real Estate Loan Originator

 
 
 

© 2016, Park Community Credit Union

Louisville Web Design by Blackstone Media