FHA Home Loans Kutztown, PA
Whether you are looking for FHA loans or other types of home mortgages in Kutztown, PA, join Bellco Federal Credit Union today and take advantage of our wide range of financial products and services!
Originally known as the Bell Telephone Credit Union, Bellco FCU opened its doors in 1938 and 80 years later continues to provide unique financial products and services to individuals and small businesses in Berks County.
Bellco FCU is a member-owned, not-for-profit federal credit union that caters exclusively to the needs of its members and offers a variety of affordable financial services. Our trusted and experienced professionals genuinely listen and offer solutions with the compassion of a true neighbor.
When you join Bellco FCU, you become a partial owner and have a say in any decisions we make. Open a Member Savings account with as little as $5, and establish your membership in just a few steps. This is not a fee; it is a share in the credit union and provides you with voting rights.
Once you become a member of Bellco FCU, your spouse, children, siblings and parents will be eligible to join too and take advantage of competitive rates for mortgages, personal loans, credit cards, and the many other services we offer.
Frequently Asked Questions (FAQs) About FHA Home Loans
What is an FHA loan?
An FHA loan is a home mortgage that is insured by the Federal Housing Administration, a branch of the U.S. Department of Housing and Urban Development. The FHA does not make these loans directly. Instead, the agency works through a wide variety of FHA-approved lenders. This enables you to shop around for the best deal.
Why are FHA loans popular with homebuyers?
FHA home loans have lower interest rates and less stringent qualifications. They are ideal for people with less-than-perfect credit histories who may not otherwise qualify for another type of home mortgage. For most borrowers, the FHA requires a down payment as low as 3.5% of the home’s purchase price. FHA loans can be either adjustable-rate mortgages or fixed-rate mortgages and are available for both purchases and refinances, including cash out refinances.
How much can you borrow with an FHA loan?
The FHA sets maximum loan limits for every state and county. The loan limits in Berks County, for example, are $294,515 for a single-family home, $377,075 for a duplex, $455,800 for a tri-plex, and $566,425 for a four-plex. These limits change periodically, so contact Bellco FCU for the most current lending limits.
Are FHA loans only for first-time homebuyers?
No, the FHA program is not limited to first-time buyers. Anyone can apply for an FHA loan, no matter how many homes they have owned in the past, as long as the house being purchased will be their primary residence and they are able to meet the basic FHA eligibility requirements.
FHA home loans can put you on the road to homeownership in Kutztown, PA. If you are looking for a mortgage with a low down-payment and relaxed credit requirements, get in touch with Bellco Federal Credit Union today.