Home Mortgage Loans
Your Loan Starts Here and Stays Here!
Our customers have always made their loan payments at their local Park Bank branch. If you have ever had your loan sold to a huge mortgage servicer, you know why this is important.
Other Park Bank Benefits:
- Relationship Banking: work with ONE MORTGAGE LOAN OFFICER from application to close and after.
- Low Down Payment & Flexible Options: Low, fixed interest rate mortgages with a variety of down payment and repayment.
- A Quality Lender: Park Bank is proud to be approved by both Fannie Mae and Freddie Mac, something that is not common in the industry.
Let's get started! Contact Us to set up an appointment at a convenient location or start the process online.
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Disclosures
Apply Online
You can start the mortgage application 24/7, check rates, calculate your payment and much more with our Mortgage Center.
Print Application
Prefer pencil and paper? Print and fill out our mortgage application to have ready for your meeting with one of our lending specialists.
Building
For Construction Loans, Park Bank is the preferred area lender. Click to learn more.
Borrow Our Truck
If you get your mortgage with Park Bank you can use our moving truck. So, borrow your money and then borrow our truck!
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Mortgage Loan FAQs
A fixed rate mortgage has a fixed interest rate and payment amount throughout the length of the loan. An adjustable rate mortgage often has a lower rate initially than a fixed rate mortgage but will adjust to based on a broader measure of interest rates known as an index.
Private mortgage insurance, or PMI, is an insurance that protects the lender/investor if you are unable to pay your mortgage. PMI is required for mortgages if less than a 20% down payment is made. Freddie Mac and Fannie Mae backed loans, like those provided by Park Bank, allow for cancellation of private mortgage insurance when there is equity greater than 20%.
This can be one of the most frustrating aspects of taking out a mortgage. Just when you develop a relationship with your banker and buy your dream home, a letter is sent that you now have to send your payments (and questions) to someone in another part of the country. This is not a problem for Park Bank mortgage customers because in over a century, Park Bank has never sold servicing for a Park Bank mortgage…ever!
When interest rates fall lower than what you are paying with your fixed rate mortgage, you may want to consider refinancing. Your personal banker will help you determine if it makes sense for you, but a good guide is to calculate how long it will take to get back the costs to refinance. If it is two years or less then it probably makes sense.
Your credit score affects a number of aspects of your life and getting a mortgage is no different. The benefit of a Park Bank mortgage is that you will receive personal attention in determining what it will take to successfully obtain a mortgage.
A Park Bank mortgage application can easily be started online here 24/7/365. Once the application is received, you will be contacted by a Park Bank lending specialist from the location most convenient for you. This person will be your contact from start to finish, answering all of your questions and helping you through the process.
Visit the Consumer Financial Protection Bureau for more of your mortgage questions.
Mortgage and Personal Loans
Construction Loans
New construction or remodeling is stressful enough without having to worry about the financing. We can make this process much easier with our Park Bank construction loans.
What is a construction loan?
Construction loans allow for disbursement to contractors during the construction process, converting to a regular mortgage once the construction is complete.
A Park Bank Construction loan is different
- Simple process: our customers can apply in person or online, bring us their plans and estimates, and we take it from there to get appraisal, approval and loan placement.
- Fast, Free, unlimited daily draws: No cost, in house draws save money and allow for client flexibility.*
- 0.99% Interest Rate (2.025% APR)**
- Local decision making: If issues arise, we can react quickly to correct them.
- No title company: draws are done by your loan officer.
- Seamless transition to fixed rate financing with the same lender to guide the process.
*Fees would be assessed if draws are conducted through a title company.
**APR assumes there will be no draw fees. If draw fees are applicable, the APR may be higher.
Other Park Bank Personal Loans
Park Bank can offer a variety of loan options to help ease financial burdens and provide the best advice to help you choose the right loan for your needs.
Home Equity
Use your home equity for a big home improvement, pay down high-interest debt, or to start a small business can be an easier and cost-effective way to finance.
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Vehicle and RV Loans
Having a pre-approved loan before visiting a dealership can put you in a better buying position. We can offer a variety of term options that best suit your needs.
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Other Personal Loans
Every customer is different, and every situation is unique. Whatever your needs may be, each location has experienced loan officers to talk.
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As a community bank, Park Bank approaches the loan approval process much differently than the large banks. You will always be treated as a valuable customer with decisions made locally and quickly. We take the time to get to know you.
Contact Us to discuss your next personal loan.
Read more about the benefits of banking with a community bank.