Park Bank
Home Loans
Park Bank Home Mortgages

Types of Home Loans

Purchase Your Home with a Fixed Rate Mortgage
With a fixed rate mortgage the interest rate is set when you take out the loan and will not change. Park Bank offers only fixed rate mortgages with a number of repayment terms to fit your financial needs.

Refinancing or Move Your Loan to Park Bank
When you refinance you receive a completely new mortgage with new terms, interest rates, and monthly payments. We will help you determine if refinancing makes sense.

Second Mortgage
A second mortgage is a second home loan, typically a lower amount and shorter term. We can help you determine if it’s better to refinance your first mortgage with a cash out option or obtain a second mortgage.

Construction Loans
We are proud to handle all construction disbursements in-house. By keeping the disbursement handling in-house you don’t pay for each check or each request. Your construction draw can be completed as fast as you say you need it.

Land/Residential Lot Loans
Park Bank can offer loans for land that offer minimal down payments and low closing costs.

First-Time Homebuyer
We are a small bank, and because of that, we’ll take the time to listen to you. To us, you are a big deal.

Home Loans

Rural Development Loans
A USDA loan is a home loan insured by the United States Department of Agriculture for property owners in rural areas. Financing is available for up to 100% of purchase price, meaning no down payment is required for some applicants. Other benefits include:

  • No Mortgage Insurance
  • Fixed Rates/terms
  • No minimum FICO Score
  • Do not have to be a first time Home Buyer
  • Check here for eligibility and other helpful information.

Investment Property/Second Home
Park Bank can offer a number of loan options with varying down payment, interest rates, and loan length periods. Plus, there are no prepayment penalties on consumer loans; you can make extra payments or pay off your loan at any time!