Home Equity Line of Credit Sinking Spring, PA

A Home Equity Line of Credit (HELOC) from Bellco Federal Credit Union in Sinking Spring, PA can provide the financial freedom you need to help pay for home repairs, renovations, and other large expenses.

Bellco FCU is a member-owned, not-for-profit federal credit union. Since 1938, we have provided unique financial products and services to individuals in Berks County, including HELOCs, traditional Home Equity Loans, fixed-rate mortgages, and more.

About Home Equity Lines of Credit 

Equity is the portion of your home that you own compared to the portion you owe to the lender. In other words, if your home is valued at $200,000 and you owe $150,000, you have $50,000 in equity – or 25%. When you apply for a Home Equity Line of Credit, your equity serves as collateral for the loan.

A HELOC from Bellco FCU may offer the funding you need for large expenses at an interest rate that is often lower than that of traditional fixed-rate mortgages, credit cards, and other types of personal loans. The loan can be particularly convenient when you need to borrow smaller amounts over a longer period, such as for college tuition payments or an ongoing home renovation project.

The line of credit has a set limit, somewhat like a credit card, and is made available to you for a limited time period (typically 5 or 10 years). During what is called a “draw period,” you have the ability to withdraw funds from the line of credit whenever you need them. As you pay off the principal, your credit revolves, and you can use the funds again and again throughout the duration of the draw period.

A Home Equity Line of Credit offers a variety of benefits:

  • Withdraw what you need, when you need it 

  • Use the money however you like

  • Pay interest only on what you withdraw

  • Repay the principal and reuse the funds over and over again during the draw period without reapplying

  • Multiple draw options, including HELOC checks, withdrawals at your local branch, or online and telephone access

  • Interest may be tax-deductible (consult with your tax advisor)

  • Local decision-making and loan processing 

  • Friendly, professional service from start to finish 

  • Bellco Loan Protection is available

Bellco FCU has the tools, information, and expertise to help you make the right decisions. Our knowledgeable loan professionals will evaluate your creditworthiness based on your income, assets, debts, and past credit use and help you determine how much you can afford to borrow. 

How to Get Started

Membership in Bellco FCU is open to people who live, work, worship, or attend school in Berks County, PA. Simply open a Member Savings account with as little as $5, and set up your membership in a few simple steps.

Once you are a member, your immediate family members will be eligible to join too and take advantage of competitive rates for mortgages, personal loans, credit cards, and the many other services we offer. 

If you are facing large or unexpected expenses, consider a Home Equity Line of Credit from Bellco FCU in Sinking Spring, PA for the cash you need.