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If you are interested in a jumbo mortgage, consider Bellco FCU in Berks County, PA, to take advantage of competitive rates and a wide range of repayment terms that can be customized to fit your life.

It has been nearly 80 years since Bell Telephone employees formed Bell Telephone Credit Union in 1938. Today, Bellco Federal Credit Union remains a member-owned, not-for-profit federal credit union, and continues to offer unique financial products and services to individuals and small businesses in Berks County, PA.

We offer competitively low rates for home purchase, refinance, or construction, and have a number of home financing programs available.

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Who Can Join Bellco FCU?

You are eligible to join Bellco FCU if:

  • You live, work, worship, or go to school in Berks County, PA
  • You are in the immediate family (spouse, parents, children, siblings, grandparents) of a Bellco FCU member, no matter where you live

By opening a primary savings account with as little as $5 and following a few simple steps, you can become a member. And, once you join Bellco FCU, you will be able to remain a member for life, regardless of where you live or work.

What is a Jumbo Mortgage?

When you find a beautiful home in the Reading, PA area, or anywhere in the nation, with a purchase price that exceeds the maximum conventional loan amount, a jumbo mortgage could be a good fit. It can provide competitive rates and terms that may help you avoid taking out a second home loan.

A jumbo mortgage is any mortgage that exceeds the current conventional loan limit of $417,000 ($625,500 in various locations), as defined by Fannie Mae and Freddie Mac, but does not exceed $2.5 million.

Jumbo mortgages are generally available on first homes and vacation homes, but borrowers must be able to meet stricter requirements, such as high credit scores (700 or better), low debt-to-income ratios, and larger down payments (at least 20%).

The locally knowledgeable Bellco FCU mortgage experts will evaluate your creditworthiness based on your past credit use, debts, assets and your current income. Then we’ll calculate how much you can afford to borrow and guide you through the process.

If the terms of the jumbo mortgage are not right for you, Bellco FCU offers home mortgage options with various terms and requirements, including 15- and 30-year fixed rate mortgages, FHA mortgages, VA mortgages, USDA mortgages, and more. We can assist you with a mortgage program that best fits your goals.

Finding the right mortgage, whether conventional or jumbo, will set a solid foundation for successful homeownership. Bellco FCU in Berks County, PA has the tools, information and expertise to help you make the right decisions. Contact us today to learn more!