Home Equity Loans Blandon, PA

Enjoy financial freedom with Home Equity Loans from Bellco FCU in Blandon, PA. If you are facing large expenses, such as home improvements, dream vacations, weddings, tuition expenses or debt consolidations, they can be a great choice.

As a member-owned, not-for-profit federal credit union, Bellco FCU has been offering unique financial products and services to people and small businesses in our local communities since 1938. 

Unlike for-profit financial institutions, we return excess earnings to our members in the form of low interest rates on loans, high-yield investment accounts, low- or no-fee easy access account services, and the friendliest service around!

Whether you are in the market for an auto loan, personal loan, or a home mortgage or Home Equity Loan, we have a solution that can help you meet your financial goals.

Home Equity Loan or HELOC?

Bellco FCU offers a variety of financing options, including the traditional Home Equity Loan. This 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). It is similar to refinancing your mortgage, but without many of the closing costs. 

Use the funds to replace the roof on your home, finance a home improvement project, assist with debt consolidation, pay off a major unexpected expense, and so on. The loan is repaid in budget-friendly fixed monthly payments, just like your original mortgage. 

If you are planning home improvements that will be done in stages or need the funds for continuing medical bills or tuition payments, you may want to consider a Home Equity Line of Credit (HELOC), which can provide you with more flexibility.

This option 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 traditional 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 principal and interest on the loan. 

If you’re not sure which type of Home Equity Loan will best meet your needs, the trusted and experienced professionals at Bellco FCU are always available to answer your questions and help you choose the best solution.