VA Home Loan Benefits

Are you interested in taking advantage of your VA home loan benefits to purchase a home in Berks County, PA? These flexible, no-down-payment loans have helped more than 22 million veterans and active military families buy a home since 1944.

Before you visit your local bank to research VA mortgage loans, consider the benefits of joining Bellco Federal Credit Union, such as better rates, lower fees, and personalized service.

Bellco FCU offers membership to people who live, work, worship, or attend school in Berks County, including immediate family members, such as your spouse, children, siblings, and parents. 

Open a primary Member Savings account with as little as $5 and follow a few simple steps to become a member. Once you join Bellco FCU, you will be able to remain a member for the rest of your life, even if you change jobs, retire, or move away from Berks County. 

About VA Home Loans

VA home loans are backed by the U.S. Department of Veterans Affairs and are designed to help eligible veterans, reservists, active-duty service members, and some surviving spouses purchase a primary residence with excellent mortgage terms that most conventional and FHA mortgages cannot match.

The VA offers very flexible credit options, and buyers with less-than-perfect credit and limited funds available for down-payment can still become homeowners. The features include:

  • Up to 100% financing of the property value

  • No monthly private mortgage insurance premiums

  • No prepayment penalty

  • Cannot be used for investment or rental properties, bare land, second homes, vacation homes, or homes in a foreign country

  • The seller may contribute up to 4% of the purchase price

  • VA home loan benefits can be reinstated and reused if the home is sold and the existing VA loan is paid off

VA mortgages are available for the purchase or refinance of primary residences that you will live in full-time, e.g., single-family homes, condos, townhouses, manufactured (modular) homes, and some multi-unit properties (up to a 4-plex), provided you occupy one of the units as your primary residence.

The first step is to establish your eligibility with the VA for a home loan. The Certificate of Eligibility can be obtained by applying online, through the mail, or through a VA-approved mortgage lender, such as Bellco FCU. 

Bellco FCU also offers a variety of other home loan options with different terms and qualifications, such as FHA loans, fixed-rate mortgages, adjustable-rate mortgages, USDA Rural Housing loans, and more, that may be available for primary residences, vacation homes, or investment properties.

If you are interested in utilizing your VA home loan benefits, get in touch with Bellco FCU to start your application. Our knowledgeable loan advisors are here to help you establish an affordable home mortgage that meets your needs.