Home Equity Loans

  • Details

    Parks Heritage is committed to helping you find the home equity loan that's right for you. Our Fixed and Adjustable Rate Home Loans offer low closing costs and 5-, 10-, or 15-year terms. Borrow up to 90% of the appraised value of your home. Applying is easy, and loans can be used to consolidate bills, make major home improvements, pay for college tuition, and much more!

    With a home loan from Parks Heritage, you have our commitment to help you find a loan you can afford today and live with tomorrow.

  • Rates

    Parks Heritage offers a variety of rates and terms making it easy to find the home equity that's right for you.

    Fixed Rate Home EquityVariable rate Home Equity Line of Credit
    TermUp to 180 monthsUp to 264 months
    Draw PeriodN/A7 years
    RatesBased on APOR +/- a marginBased on Prime Rate +/- a margin
    Minimum PaymentN/A$100.00 per month
    Maximum Loan Amount$200,000$200,000
    APR ChangesFixedFebruary and August
    Minimum RateN/A4.00% ARP
    Maximum RateN/A15.00% APR
    Maximum Rate Change Per PeriodN/A1.00% APR
    Interested CalculatedDailyDaily

    Terms & Conditions

    APOR= Average Prime Offer Rate. Index changes weekly. APR is determined at the time of application.

    Home Equity Line of Credit- PERIODIC RATE AND CORRESPONDING ANNUAL PERCENTAGE RATE: We will determine the periodic rate and the corresponding annual percentage rate as follows. We start with an independent index, (the "Index"), which is The Wall Street Journal Prime Rate. When a range of rates has been published, the highest rate will be used. We will use the most recent index value available to us as of 30 days before the date of any annual percentage rate adjustment. To determine the periodic rate that will apply to your account, we add a margin, as disclosed above, to the value of the Index. Then we divide this sum by the number of days in a year (365). To obtain the annual percentage rate we will multiply the periodic rate by the number of days in a year (365). This result is the annual percentage rate.

    MINIMUM PAYMENT EXAMPLE: If you made only the minimum monthly payment and took no other credit advances it would take 7 years 0 months to pay off a credit advance of $10,000 at an ANNUAL PERCENTAGE RATE of 4.0%. During that period, you would make 84 payments of $136.69.

    All loans subject to approval. Rates, terms, and conditions are subject to change without notice. Your overall credit worthiness will determine the rate, term, and amount available to you. Fees and charges may apply.

    Interest will accrue from contract date.

  • Apply

ABA Routing Number: 221375695