In this paper we study the existence and regularity of stable manifolds associated to fixed points of parabolic type in the differentiable and analytic cases, using the parametrization method. The parametrization method relies on a suitable approximate solution of a functional equation. In the case of parabolic points, if the manifolds have dimension two or higher, in general this approximation cannot be obtained in the ring of polynomials but as a sum of homogeneous functions and it is given in [4]. Assuming a sufficiently good approximation is found, here we provide an “a posteriori” result which gives a true invariant manifold close to the approximate one. In the differentiable case, in some cases, there is a loss of regularity. We also consider the case of parabolic periodic orbits of periodic vector fields and the dependence of the manifolds on parameters. Examples are provided. We apply our method to prove that in several situations, namely, related to the parabolic infinity in the elliptic spatial three body problem, these invariant manifolds exist and do have polynomial approximations.