HELOC Rates Pennsylvania

Your need for cash may have many causes. Whether you want to take a dream vacation, finance your back-to-school goals, or simply need to pay for car repairs, Bellco Federal Credit Union can assist you with a HELOC, or Home Equity Line of Credit, with competitive rates in Berks County, Pennsylvania.

Throughout the last 80 years, we have served the people and businesses within Berks County, PA. Bell Telephone Credit Union originated in 1938 and has since become Bellco Federal Credit Union. We’re owned by our members and strive to better the community by providing financial products and services without profit-driven motives. 

If you’re interested in becoming a member of Bellco FCU, you must be a resident, employee, worshipper, or student in Berks County, PA. If you meet this qualification or are an immediate family member of a current credit union member, you can open a Member Savings account with a small deposit and initiate your membership with a few extra steps. 

The family here at Bellco Federal Credit Union stands ready to help with customized financial assistance to meet your particular needs. 

What to Know about HELOC Rates

The smart consumer generally shops around for the best rates, and you should do the same for your Home Equity Line of Credit. Bellco FCU prides itself on offering competitive rates.

For your HELOC, the interest rates will adjustable. It will depend on your credit rating, income, and assets. You should also expect to encounter fees to go along with securing the line of credit. As you make your decision, ensure that you are basing your decision on the actual rate rather than a misleading introductory rate or other special promotion.

Details about the interest rate for your HELOC are critical. Pay attention to the period of time over which the interest rate can change as well as how much higher it may go. These seemingly small details can have a large impact on your HELOC.

Additional circumstances to consider regarding your HELOC relate to the terms of repayment. Bellco Federal Credit Union offers the option of an extra ten years to repay the balance, compared to other lenders that might require a balloon payment in which the entire large balance must be repaid at one time. 

If you choose Bellco Federal Credit Union for your HELOC, you’ll have friendly service, customized to your situation, with the lowest possible rates and appropriate terms. Call on us for local decisions and processing.

Securing the Home Equity Line of Credit

In order to qualify for your HELOC, you’ll have to demonstrate a few financial qualifications. 

  • Proof of Income will be required to demonstrate the ability to repay what you borrow

  • A strong credit score will also demonstrate the likelihood of repayment 

  • A low debt-to-income ratio is an indication of probable repayment

  • Additional assets provide further evidence to demonstrate your minimal risk as a borrower

Bellco Federal Credit Union should be your choice for securing a HELOC. Good rates and friendly service in Berks County, Pennsylvania await you online, via phone, and in-person at any of our branches or our website. Make your home work for you when unexpected expenses of life come your way!