Park Community Credit Union - Mortgage Types

A home loan that never wears out its welcome

Whether it’s a Cape Cod, English Tudor, mid-century modern, Victorian, shotgun ranch, treehouse, dollhouse, or your dream house, we offer a variety of mortgage products with fast pre-approvals and great rates.

  • Looking for that first home?
    Park ?’s first time home buyers!

    • 30 year Fixed Rate or 7/7 ARM
    • Up to 100% Financing
    • Low Closing Costs
    • No PMI

    Details

    First Time Homebuyer: Rates as of 7/1/2021, however, mortgage rates are subject to change daily. Interest rate would be based on current day pricing when locking the rate with an originator. Based on 100% loan-to-value and detached property type. For example, based on a 7/7 ARM (adjustable rate mortgage) $350,000 financed at 3.929% APR with a term of 30 years would result in a principal and interest payment of $1,571.66. The principal and interest portion of your payment may be higher at the beginning of each new ARM term based on market conditions. For example, a $350,000 30-year fixed rate mortgage loan with an Annual Percentage Rate of 4.285% requires 360 monthly payments of $1,672.60. Loan payment amounts do not include monthly taxes and insurance and your actual payment may be greater. $150,000 max loan amount on a Duplex, financed at 100% LTV. Offer and rates subject to change. Loan subject to underwriting and credit approval. Additional restrictions apply.

    First Step Mortgage: Rates as of 7/1/2021, however, mortgage rates are subject to change daily. Based on 100% loan-to-value and detached property type. For example, based on a 5/5 ARM (adjustable rate mortgage): $100,000 financed at 4.098% APR with a term of 30 years would result in a principal and interest payment of $477.42. Loan payment amount does not include monthly taxes and insurance and your actual payment may be greater. The principal and interest portion of your payment may be higher at the beginning of each new ARM term based on market conditions. Offer and rates subject to change. Loan subject to underwriting and credit approval. Additional restrictions apply. Closing credit up to $2,000 will be given on your Closing Disclosure settlement as a promotional credit.

    West End Louisville First Step Loan: Rates as of 7/1/2021, however, mortgage rates are subject to change daily. Based on 100% loan-to-value and detached property type. For example, based on a 5/5 ARM (adjustable rate mortgage): $125,000 financed at 4.079% APR with a term of 30 years would result in a principal and interest payment of $596.77. Loan payment amount does not include monthly taxes and insurance and your actual payment may be greater. The principal and interest portion of your payment may be higher at the beginning of each new ARM term based on market conditions. Offer and rates subject to change. Loan subject to underwriting and credit approval. Additional restrictions apply.

  • Don’t want to commit?
    Adjustable Rate options:

    • 3% down payment

    Details

    3/3, 5/5, 7/7, and 10/10 ARM: Rates as of 3/16/2021, however, mortgage rates are subject to change daily. 3/3 ARM Repayment Example: $150,000 financed at 3.187% annual percentage rate (APR) with a term of 30 years would result in a principal and interest payment of $642.56 5/5 ARM Repayment Example: $150,000 financed at 3.313% APR with a term of 30 years would result in a principal and interest payment of $652.81. 7/7 ARM Repayment Example: $150,000 financed at 3.438% APR with a term of 30 years would result in a principal and interest payment of $663.14 10/10 ARM Repayment Example: $150,000 financed at 3.815% APR with a term of 30 years would result in a principal and interest payment of $694.67. Loan payment amount does not include monthly taxes and insurance and your actual payment may be greater. The principal and interest portion of your payment may be higher at the beginning of each new ARM term based on market conditions. Owner Occupied Single Family Residence and Stand-Alone Condos/Patio Homes only. Loan subject to underwriting and credit approval. Additional restrictions may apply.


    Residential Professional: Rates as of 3/16/2021, however, mortgage rates are subject to change daily. Qualifying professionals include: Chiropractic (D.C., D.C.M.), Dentistry (D.D.S., D.M.D.), Law (LL.B., J.D.), Medicine (M.B., M.D.), Optometry (O.D.), Osteopathic Medicine (D.O.), Pharmacy (Pharm. D), Podiatry
    (D.P.M., D.P., Pod. D.), Theology (M.Div, M.H.L., B.D., Ordination), Veterinary Medicine (D.V.M., V.M.D.), CPA. Based on 100% loan-to-value and detached property type. For example, based on a 3/3 ARM (adjustable rate mortgage): $500,000 financed at 3.145% APR with a term of 30 years would result in a principal and interest payment of $2,141.88. Loan payment amount does not include monthly taxes and insurance and your actual payment may be greater. 100% financing up to $500,000 maximum loan amount – For Residents/New Physicians. 95% financing up to $850,000 maximum loan amount – For Established Employees. Offer and rates subject to change. Loan subject to underwriting and credit approval. Additional restrictions apply.

  • Like the comfort of a locked-in rate?
    Fixed Rate options:

    • Terms range from 10-30 years
    • 5% down
    • PMI required if LTV is over 80%

    Details

    Conventional Fixed Rate Mortgages: Rates as of 3/16/2021, however, mortgage rates are subject to change daily. Interest rate would be based on current day pricing when locking the rate with an originator. Based on 80% loan-to-value and detached property type. For example, a $150,000 30-year fixed rate mortgage loan with an Annual Percentage Rate of 3.365% requires 360 monthly payments of $652.81. 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.

  • Got equity?
    We’ve got options!

    • Flexible Terms
    • Up to 90% LTV
    • Low closing cost options

    Details

    *Annual percentage rate. The 4.24% 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 April 4, 2018, the variable rates ranged from 4.24% 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.

Realtor in a suit standing at the front door of home for sell while pointing to his name tag that states

Not sure where to start?

Fill out the form below for one of our Mortgage Experts to contact you or call 502.272.2770 for more information.