Current Home Equity Loan Rates

If you are interested in tapping into the equity in your home, visit Bellco Federal Credit Union to explore our current home equity loan rates.

Bellco FCU has been a member-owned, not-for-profit federal credit union since 1938, and continues to offer unique financial products and services to individuals and small businesses in Berks County, PA.

Our mission is to improve the quality of life for our member-owners, and we align our products and services to help us achieve that mission. Our team will work with you to make sure you get the loan that’s right for you and your budget.

Home Equity Loan Options

There are two different types of home equity loans, and it’s important to think about when and how you intend to use the funds before deciding which option will best suit your needs.

Conventional Home Equity Loan

This is an excellent option if you are looking for a lump-sum payment. It is a second mortgage that is secured by the equity in your home and provides funds in a lump sum at a fixed rate for a fixed term (up to 15 years). 

Use the funds to finance a home improvement project, replace the roof on your home, consolidate your debts, pay off a large unexpected expense, and so on. Repay the loan in budget-friendly fixed monthly payments, just like your original mortgage. 

Home Equity Line of Credit (HELOC)

This option provides more flexibility. It works very much like a credit card and can be used when you need it, such as for financing an ongoing home-improvement project, paying ongoing tuition, or paying for recurring expenses. 

Unlike the conventional home equity loan, the interest rate on the HELOC is adjustable (not fixed), which means it may change over the term of the loan.  

The draw period (the allotted time to borrow on the loan) is typically 5 to 10 years, and minimum payments will be due on the amounts you draw out. As you pay off the principal, your credit revolves, and you can use it again and again for the duration of the draw period. When the draw period ends, you are responsible for repaying the principal and interest on the loan. 

Not a Member Yet?

Anyone who lives, works, worships, or attends school in Berks County may join Bellco FCU, including immediate family members, such as your spouse, children, siblings, and parents.

Simply open a Member Savings account with as little as $5, and set up your membership in minutes. Once you join, you can remain a member for life, whether you change jobs, retire, or move out of Berks County.

Learn about current home equity loan rates from Bellco FCU in Berks County, PA, and enjoy financial freedom. Apply online and get the cash you need to pay for unexpected expenses.