Home Equity Loans Temple, PA

Put your biggest asset to work for you! Home equity loans can help finance expensive turns in the road of life, and Bellco Federal Credit Union is happy to provide this product in the Temple, PA area. Whether you choose to invest in another property, make improvements on that property, pay for education, or meet other financial headwinds, count on the professionals here to treat you considerately and professionally.

Originally formed as Bell Telephone Credit Union in 1938, Bellco Federal Credit Union has been committed to the betterment of the citizens and small businesses of Berks County. The ultimate goal of our credit union is to better the lives and communities of our members, and we’re able to do so since we’re not beholden to shareholders. Instead, we pass “profits” on to members in the form of low or no cost services, flexibility of terms, and terrific rates.

The loan products we offer are diverse so that we can meet the needs of all borrowers.

Understanding Home Equity Loans

One of the financing products that we offer is the Home Equity Loan. Often referred to as a second mortgage, a Home Equity Loan utilizes the equity accumulated in your home as security for the borrowing. You’ll get a one-time sum and repay it over a fixed term with a fixed rate of interest.

Apply the money that you take out on a home equity loan toward any major expense. Whether you consolidate high-interest credit card debt, pay for a dream wedding, or put the money back into the value of the home through remodeling, additions, or landscaping, the money from a home equity loan can be a great benefit with predictable repayment processes.

What Is Equity?

The equity that you can borrow on will depend on the balance of your mortgage and the value of your home. If you owe more than your home’s value, you have negative equity, a condition often referred to as being upside down on your mortgage. However, if your home is worth more than you owe, the difference is the amount of equity you have built up in your home, and this difference is what you can borrow against.

Generally, the longer you have owned your home, the more improvements that you’ve made, and the overall housing market will influence your home equity. It is financially wise to reinvest equity into building more equity by adding value to the home. After all, for most homeowners, the home is the most substantial asset within the financial portfolio of the owner.

Feel free to consult with the financial professionals here at Bellco FCU to determine the wisest path forward for your present situation as well as your future.

Becoming Part of the Bellco FCU Family

If you find Berks County to be where you reside, worship, work, or go to school, you can join Bellco FCU. You are also eligible for membership if you have an immediate family member who is part of the credit union already.

Establishing membership is incredibly simple. Deposit a minimal amount of $5 in a Member Savings account to buy in. This account establishes ownership and membership, providing you with access to services and a voice in the operations of the credit union.

The membership doesn’t expire either. You will continue as a member regardless of life changes.

Find the financing you need for life’s hiccups in Temple, PA with home equity loans from Bellco Federal Credit Union!