Home Equity Loans Jacksonwald, PA

Expensive moments in life can be overwhelming. How do you fund your child's education or dream wedding, fix your home's septic system, or consolidate high-interest debt without dipping into savings or incurring high interest on loans? As a homeowner, you have power you may not realize. Home equity loans, secured through the equity value of your home in Jacksonwald, PA, allow you to navigate turbulent times with less interest and anxiety. Call the financial specialists at Bellco FCU to learn more!

Bellco Federal Credit Union is a non-profit federal credit union with federal insurance secured through the National Credit Union Administration (NCUA). Established in 1938 as the Bell Telephone Credit Union of the employees of the Bell Telephone Company, we have evolved into an organization focused on collaborating for the financial betterment of the persons and small businesses of Berks County.

The mission of Bellco FCU is to help our joint members-owners. The financial specialists here provide courteous and personalized service with checking and savings accounts and borrowing solutions with a range of terms.

Securing a Home Equity Loan

Bellco Federal Credit Union provides various financial packages, including the Home Equity Loan. This second mortgage is secured borrowing based upon the home's equity and comes as a determined amount, paid back on a fixed schedule with a fixed interest rate and fixed payment.

With this money, you can afford the major hiccups of life. Since it's secured borrowing, the interest rate will likely be lower than other options, but remember, if you don't repay the loan, you lose your collateral. In other words, foreclosure is the consequence if you default on a Home Equity Loan.

Expenses that occur intermittently may be better resolved with a HELOC or Home Equity Line of Credit. This form of borrowing is also secured through your home's equity, but it functions like a credit card.

The initial draw period will be a set period for spending, and the second phase will be repayment. You can spend up to the credit limit and then repay and spend again until the end of the draw period.

When the draw period is over, you will begin repayment and must have the balance repaid by the end of the agreed-upon repayment term.

Why not give us a call at Bellco FCU? Describe your financial situation, and the team of professionals here will guide you through the decision-making process and help you complete the required application.

Both applications require you to establish income, credit worthiness, debt-to-income ratio, and other financial information.

Membership in Bellco Federal Credit Union

If your home, job, worship center, or school is in Berks County, weigh the benefits of joining Bellco FCU. You are also qualified to join if one of your immediate family members is a Bellco FCU member.

Joining is easy! Deposit $5 as a minimum amount in a Primary Member Savings Account. With this buy-in, your membership is established and never expires regardless of relocation, retirement, graduation, or other life changes.

In Jacksonwald, PA, leverage the home equity you have built up in your home with loans from Bellco FCU. To learn more, reach out by phone at (610) 373-5192 or by clicking here.