Home Equity Loans Lincoln Park, PA

Borrowing through Home Equity Loans secured through your residence in Lincoln Park, PA, is one way that Bellco FCU assists members-owners with financing substantial purchases or expenses without cashing out personal or retirement savings.

Bellco Federal Credit Union is owned by members and functions as a non-profit with federal insurance made possible by the National Credit Union Administration (NCUA). Since our establishment in 1938, we have offered the citizens and small businesses of Berks County particularly appealing financial facilitation.

Bellco FCU is not a for-profit bank. We are a non-profit that pays what would be considered our profits to members through great rates, lower and no fees, and courtesy and local processing.

From checking and savings accounts to financing a home, car, vacation, or education, please speak with our financial specialists for an honest, considerate ear and guidance.

The Appeal of Home Equity Loans

While the lending options we offer at Bellco FCU are numerous, a Home Equity Loan can be quite appealing to homeowners. Commonly known as a second mortgage, a Home Equity Loan is secured as opposed to unsecured borrowing. This type of lending is a double-edged sword in that you gain lower interest rates and flexible terms, but the consequences of nonpayment are dire. If you fail to repay a Home Equity Loan, you risk losing your house.

A Home Equity Loan leverages equity. Equity is the difference between your home's value and primary mortgage balance. It's the amount you own free and clear of the bank.

When you secure a Home Equity Loan for a lump sum amount, you'll make fixed monthly payments calculated with a fixed interest rate for a specified period.

If you're facing a big one-time expense, this form of borrowing is the way to go. Fix the roof, put in a pool, take a European trip of a lifetime, fund a child's education or wedding, or consolidate high-interest credit card debt. Ensure your income is secure before committing to this type of loan.

An alternative that also leverages your home equity is a Home Equity Line of Credit. This type of borrowing operates much like a credit card in a cyclical fashion. Homeowners can spend intermittently up to the predetermined balance, paying down what's spent and then respending during the draw period. At the end of this term, homeowners will begin to repay the line of credit and must have the balance repaid by the end of a set time.

Becoming a Member of Bellco Federal Credit Union

The residents, employees, worshippers, and students of Berks County can buy into Bellco FCU, as can any immediate family member of an existing Bellco FCU member. Doing so requires a $5 minimum deposit into a Primary Member Savings Account.

This membership is for life, by the way. When you retire, change jobs, move, find a new congregation, or graduate, your status as a member-owner won't change!

Empower yourself as a homeowner with Home Equity Loans in Lincoln Park, PA, through Bellco Federal Credit Union. We offer courtesy, personalization, and competitiveness in services and products for your financial life. Call (610) 373-5192 to contact us via phone or follow this link to learn more.