Home Equity Loans Boyertown, PA
Bellco Federal Credit Union is an excellent source for homeowners interested in home equity loans in Boyertown, PA. We offer many advantages for our owners-members that can't be found with other sources.
About Bellco Federal Credit Union
If you have a residential, employment, academic, or religious connection to Berks County, PA, or an immediate family member who is already a Bellco FCU member, you are eligible to join the credit union. You merely have to deposit $5 into a Primary Member savings account. Established membership with Bellco FCU means you'll be a member for life.
Bellco FCU offers a wide range of financial products and services, and our members can access all of them. They also have an equal voice in operations regardless of the amount that they have on deposit. We started in 1938 as the Bell Telephone Credit Union and continue that legacy of helping members to this day as a not-for-profit, member-owned federal credit union.
From checking and savings accounts to credit cards, auto loans, mortgages, and more, Bellco FCU offers all of the traditional and progressive banking services. Still, we do so with a motivation far different from a conventional bank. We're not out to make profits for shareholders; we pay forward what would otherwise be profit into friendlier rates, terms, and fees.
Bellco FCU - Home Equity Loans
Use existing equity as collateral for the loan
Feature short-term competitive rates
Many repayment terms available
Make it possible to pay for all life expenses - from educational costs to vehicle repairs, home remodel costs, debt consolidation, medical bills, and more.
Securing a Home Equity Loan from Bellco FCU
A home equity loan uses the equity that has accrued during your period of home ownership. Equity is calculated by subtracting the home's value from the balance of the existing home loan. The difference is the equity, which can be used as collateral for securing a home equity loan.
Home equity loans are dispersed as one lump amount, and the loan itself is often called a second mortgage because it is paid back as a fixed amount in a fixed term.
The most important element of taking out this type of loan is the tie of the loan product to the home's equity. When a home equity loan isn't repaid, the house is vulnerable to foreclosure. Homeowners must be cautious about borrowing what they can afford to repay.
Secured debt, the kind of loan that comes based on collateral, can put you at risk of losing that asset, but the benefit of this type of borrowing is that you are eligible for friendlier terms and rates. Bellco FCU enhances these competitive factors even further.
Bellco Federal Credit Union is here for all of your financial needs, and we provide these services with the courtesy you expect from a hometown, non-profit, member-owned credit union. Choose us for checking, saving, or borrowing needs.
When substantial life expenses arise, homeowners in Boyertown, PA, can be ready with the help of home equity loans from Bellco Federal Credit Union. To explore your options, click here or call us at (610) 373-5192.