ParkeBank | Home Equity Loan Rates

Home Equity Loan Rates

Home Equity Loan Rates – Annual Percentage Rate (APR)

1-5 Year Term	Fixed rate 6.50% APR with a payment deduction from a ParkeBank Account.
6-10 Year Term	Fixed rate 6.75% APR with a payment deduction from a ParkeBank Account.
11-15 Year Term	Fixed rate 7.25% APR with a payment deduction from a ParkeBank Account.
Prime Home Equity Lines of Credit	Variable rate set at WSJ Prime-Current Prime Rate 3.25% (Floor of 5.00% APR and a ceiling of 16.00% APR)

Notes: Add .50% to rate if payments are not deducted from a ParkeBank Account

Home Equity Loans over $250,000 require title insurance. Appraisal fees and other fees may also apply.

Property insurance is required on all Home Equity Loans.

Loan information is provided to assist in evaluating alternatives only & does not constitute an offer to extend credit.

Rates are subject to change without notice.

This is not an advertisement to extend consumer credit by Section 226.2 of Regulation Z.

Loans subject to credit approval.

IMPORTANT FDIC NEWS

The Federal Deposit Insurance Corporation (FDIC) has permanently increased deposit insurance on all accounts to $250,000 per depositor.

All funds in a “noninterest-bearing transaction account” are insured in full by the FDIC from December 31, 2010 through December 31, 2012. This coverage is in addition to the coverage of at least $250,000.