Credit Union Home Equity Loans in Berks County, PA

Securing home equity loans from Bellco Federal Credit Union in Berks County, PA, can be a straightforward way to get through the hiccups of life by making good use of the equity in your home.

Introducing Bellco Federal Credit Union

A non-profit federal credit union made up of members with equal ownership, Bellco Federal Credit Union continues in the tradition begun in 1938 when the employees of Bell Telephone Company established their credit union.

We’re proud to offer the citizens and business owners of Berks County the financial products and services that they need to facilitate the day-to-day financial needs of life as well as long term goals and portfolio building. Because we’re owned by members, we’re able to offer spectacular terms and rates as well. Instead of growing profits for shareholders, we’re obligated to our owners/members.

Why Choose a Home Equity Loan?

You’ve likely heard the term “second mortgage” without realizing that it refers to a Home Equity loan. Home equity loans are secured borrowing based upon the equity value that you’ve accrued in your home. To calculate the amount of equity you have in your property, subtract the balance of your mortgage from the appraised value of your home.

Home equity loans can be as high as 85% of your home equity, depending on your credit score and other factors that influence credit worthiness.

This type of borrowing is usually reserved to finance significant purchases and life events like consolidating debt, funding educational expenses, making substantial home improvements, or paying for a once-in-a-lifetime vacation.

Choose a Home Equity Loan from Bellco Federal Credit Union to Gain:

  • Competitive rates

  • Funding to meet sudden or substantial expenses

  • Available funds as a one-time large amount

  • Repayment via monthly, fixed payments

  • Decisions made locally

  • Processing completed locally

  • Considerate, hometown customer service

  • Bellco Loan Protection program available

Fund your life expenses, increase the value of your home, or invest in your dreams with a home equity loan. Bellco FCU will be on your side from the beginning of the process through the cut check and beyond.

Qualifying for a Home Equity Loan

To secure a home equity loan, you’ll need to establish that:

1.    You have equity accumulated in your home.

2.    Your credit bona fides indicate a commitment to repay. A good credit score is just one factor that plays into this equation. Lenders like Bellco FCU will also consider your debt-to-income ratio. We don’t want you to get in over your head financially.

3.    Your income shows the ability to repay and should demonstrate predictability and stability. Remember that you will have two mortgage payments (the original mortgage and the home equity loan repayment).

4.    Additional assets demonstrate to lenders that you’re a safe bet for lending.

Joining the Bellco FCU Community

If you live, work, worship, or attend school in the Berks County community, we welcome you to join the Bellco FCU community as well. We also invite potential members who have immediate family members as existing Bellco FCU members.

The process of establishing membership is surprisingly simple! If you meet the eligibility parameters, deposit $5 into a Member Savings account. This deposit buys your ownership into the credit union, and that share is equal to all other members.

Finance your future with home equity loans from Bellco Federal Credit Union in Berks County, PA!