VA Home Loans Kutztown, PA

If you are looking for the most competitive rates and terms on VA home loans in Kutztown, PA, Bellco Federal Credit Union is the best place to start!  

It has been 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.

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.

Everything You Need to Know About VA Loans

VA home loans are designed to help eligible veterans, reservists, active-duty service members, and some surviving spouses purchase a home by offering excellent mortgage terms that most conventional and FHA mortgages cannot match.

Here are a few things you should know:

  1. VA home loans are not issued by the U.S. Department of Veterans Affairs. Instead, the VA guarantees a portion of each loan to help servicemen and women secure great rates and terms and to give lenders like Bellco FCU confidence that the loan will be repaid. 

  2. Qualified borrowers can finance 100% of the home's value without making any down payment. There is also no prepayment penalty. This means you can make extra payments whenever you want and save a lot of money in interest over the life of your loan.

  3. VA loan limits vary by county, but the maximum no-money-down loan amount in Berks County is currently $453,100 for a single-family home.

  4. The VA mortgage program tries to accommodate as many military buyers as possible with a simple, accessible mortgage, so you may find it easier to qualify for a VA loan, even with a foreclosure or bankruptcy in your history.

  5. 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 four-plex), as long as you live in one of the units.

  6. VA home loans cannot be used for investment or rental properties, bare land, second homes, vacation homes, or homes in a foreign country.

  7. Unlike other low down-payment mortgage options, VA loans do not require PMI (mortgage insurance). There is, however, a VA Funding Fee (about 2% of the loan amount) on both purchase and refinance loans. This fee can be rolled into the loan amount and is waived completely for veterans with service-connected disabilities.

  8. VA home loans are reusable. If you later decide to sell your home and pay off your existing VA loan, you can apply for reinstatement of your home loan benefits and reuse them again and again.

VA home loans are a great way for military service members and veterans to purchase a home in Kutztown, PA! Contact a VA-approved lender like Bellco FCU to get started.