Jumbo Mortgage Rates Reading PA
Homes with a jumbo price tag may require a jumbo mortgage. If you’re purchasing an expensive residence, vacation home, or investment property in Reading, PA, contact us at Bellco Federal Credit Union for the current jumbo mortgage rates and assistance with your application.
Key Details about the Jumbo Mortgage Product
A jumbo mortgage is different from a conforming mortgage in several key ways, but they all circle around to the fact that the amount borrowed is large and not protected by the traditional Fannie Mae and Freddie Mac assurances.
Your jumbo mortgage will come with a higher interest rate, a large down payment, higher closing costs, and a rigid underwriting process. The procedure for securing approval will include extensive documentation, a high credit score, an appropriate debt-to-income ratio, substantial cash reserves, and maybe even a second appraisal.
The professional, knowledgeable Bellco Federal Credit Union staff will walk you through the rigorous process, one step at a time, with professionalism and consideration throughout the underwriting and processing period.
Reasons to Choose Us
Acquiring a jumbo mortgage is something that can be done with a variety of banks and credit unions, so why should you choose Bellco Federal Credit Union?
As a member-owned, not-for-profit financial institution, you’ll have an experience guided by community building rather than profit accumulation. Established in 1938 as Bell Telephone Credit Union, Bellco FCU has proudly offered financial facilitation of dreams to those who live, worship, and work in Berks County for decades.
To become a member, you simply have to open a Member savings account with as little as a $5 deposit. From this point, you’ll have access to an array of financial services spanning the gamut from checking and savings to vehicle loans and even FHA, VA, and jumbo mortgages.
Beyond the jumbo mortgage, members also have access to many other financial products including checking or savings accounts, vehicle and home loans, personal loans, vacation/holiday loans, credit cards, and many other options. Our intentions are to support the local community with greater financial flexibility and guidance.
We also embrace the conveniences of modern living and provide online bill pay, online banking, Apple Pay, Bellco Easy Pay, mobile deposit, eStatements, and a Visa debit card, in addition to many other convenient functions.
Bellco Federal Credit Union can set you on the path to owning the home of your dreams without having to take out a second mortgage or completely drain your life’s savings. Because we make loan decisions locally, we can take your circumstances under advisement, consider your financial situation, and provide solutions that are both realistic and personalized.
A jumbo mortgage can have either fixed or adjustable rate terms and serve to purchase a primary residence, a vacation or secondary home, or even investment properties. For guidance, assistance, or rates clarification in Reading, PA, call on us at Bellco Federal Credit Union for a friendly ear and a helpful hand.