Home Equity Line of Credit Kenhorst, PA

Do you need to finance life’s hiccups or highlights? From car repairs to tuition, wedding expenses, home repairs, or medical costs, count on your neighbors at Bellco Federal Credit Union to come to your aid when you need a Home Equity Line of Credit in Kenhorst, PA.

Bellco FCU is owned by our members. We’re designed to better the community, not shareholders. As a non-profit, we’re able to provide superior financial products and services with better terms and rates.

The history of Bellco Federal Credit Union extends all the way back to Bell Telephone Company, when the employees started a credit union in 1938. This powerful origin story is an honor we strive to live up to everyday in the way that we treat our members and respect our community.

When you deal with a bank whose goal is turning a profit for the benefit of shareholders, you will pay more interest and have a more difficult time gaining access to credit. Bellco FCU has local decisions and processing in addition to a non-profit basis, so our members are pleasantly surprised with the low or absent fees, low interest rates, high returns, and convenient processes we’re able to offer.

From car and home loans to checking and saving accounts, home equity borrowing, and more, we can meet every stage of your life with a financial solution.

What is a Home Equity Line of Credit, or HELOC?

A HELOC, or Home Equity Line of Credit, is a credit line that operates like a credit card but is secured through the equity of your home. When you need funds, you can spend on this line of credit up to the pre-set credit limit. Because it’s secured through the collateral of your home, the interest rate will be much lower than that of an unsecured credit card.

Home equity is the value of your home once you’ve paid off the mortgage - basically the profit you would make if you were to sell your home. A Home Equity loan involves borrowing a lump sum of money. It’s often called a second mortgage, but a HELOC is a set credit limit that you can spend like a credit card.

The draw period of your HELOC will be the time when you can spend on the credit limit and usually lasts 5 or 10 years. During this time, you can spend, repay, and spend again as much or little as you like. When you have frequent, periodic expenses, this type of borrowing is an excellent option.

If you’re interested in a HELOC, come down to Bellco FCU and speak with your neighborly financial professional. You will need to establish that your income, credit score, debt-to-income ratio, and home equity merit the borrowing, and we’ll establish how much your limit should be.

Are you a Bellco FCU member?

If not, why not? Those who live, work, worship, or attend school in Berks County are eligible. All immediate family members of current credit union members are eligible as well. You only have to deposit a small amount into a Member Savings account to establish membership and have access to all of our financial products and services, including a HELOC.

Membership is lifelong. You may retire or move across the country. Your membership will remain, as will your access to our financial products and services and your voice in the measures we take as an organization.

For a Home Equity Line of Credit in Kenhorst, PA, come to Bellco Federal Credit Union. We’ll help you put your home to work for you.