Mortgage Rates for Reading, PA

There are a range of mortgage rates for Reading, PA and they vary from lender to lender. At Bellco FCU, we offer very competitive mortgage rates because we are not-for-profit credit union. We are owned by our members and pass our earnings on to them in the form of lower rates and fewer fees.

In 1938, Bellco FCU was founded by employees of the Bell Telephone Company. Since then we have continued to support the residents of Berks County, PA with a range of services including checking and savings accounts, credit cards, personal loans and mortgages. 

A Range of Mortgage Options 

There are numerous mortgage options available if you are looking to buy a new home, refinance your existing home or start construction on your home. The experts at Bellco FCU can help you decide which option is right for you. 

  • 30-Year-Fixed Rate Mortgage - If you are buying a home that you intend to stay in for a significant length of time, this might be the right option for you. The rates stay fixed throughout the length of the loan so you always know what your mortgage payment is going to be. 

  • 15-Year-Fixed Rate Mortgage – This mortgage is similar to a 30-year-mortgage but it is only half as long. You will have higher monthly payments but you will build equity in the home faster and the home will be paid off in half the time. 

  • Adjustable Rate Mortgage (ARM) – An adjustable rate mortgage starts off with a certain interest rate for a set period of time. After that time, the rate can adjust up or down throughout the remaining term of the loan. 

  • FHA Mortgage – An FHA mortgage is backed by the government and therefore has lower requirements than a typical 30-year-mortgage. The down payment requirement is lower (around 3.5%) and credit score requirements are lower. This is a good option for anyone who wants to buy a home but may not have very good credit or has very little credit history. 

  • VA Mortgage – This type of mortgage is only open to people who have served in the military, are currently serving, reservists, or some surviving spouses. It is backed by the Department of Veterans Affairs. It offers much better terms than a traditional or FHA loan. 

  • Construction Loans – If you are planning to build a home, you can also apply for a construction loan. A construction loan can have favorable terms and help you get the money you need to pay your contractor. 

A knowledgeable Bellco FCU financial advisor can evaluate your situation and tell you which of these mortgages would work best for your situation. If you are not a member of Bellco FCU it is easy to join and there are just a few requirements. 

Become a Member of Bellco FCU

If you currently live, work, worship or go to school in Berks County, PA you qualify to become a member. All you need is $5 to set up a member savings account and you could be a member after just a few simple steps. The $5 buys you a share in the credit union and you then become an equal voting member. 

To explore mortgage rates in Reading, PA, visit Bellco FCU online. If you are member, you can apply for a mortgage right through our website. If not a member, join today!