Home Loans Sinking Spring, PA
Purchasing a home is a big step and can be a complex decision. Bellco Federal Credit Union in Sinking Spring, PA offers a wide range of home loans with competitive rates and terms and can help you make a decision that is right for you and your family.
Bellco FCU is a member-owned, not-for-profit federal credit union. Originally known as the Bell Telephone Credit Union, Bellco opened its doors in 1938 and continues to offer unique financial products and services to individuals and small businesses in Berks County.
Like banks, we accept deposits, make loans and provide a wide array of other financial services. Our goal is to add convenience to your life with products and services that are tailored to your needs.
Membership is available to individuals 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.
Are You Ready to Buy a Home?
Keep in mind that many lenders require a down payment of 20% of the home price. There will also be closing costs, which could include loan-origination fees, discount points, appraisal fees, survey fees, underwriting fees, title search fees, and title insurance.
Even if your mortgage payment is fixed for the next 30 years, your property taxes and insurance rates can rise. You will also have expenses related to the upkeep and maintenance of your home. Be sure to get control of your finances so that you can really afford it. If you have a lot of debt, take the time to pay it off before you buy a home.
Whether you’re ready to purchase your first home or want to upsize, downsize or refinance, we offer mortgage options that are right for you, with competitive rates and flexible terms:
Fixed Rate - A fixed-rate mortgage has a fixed-interest rate for the entire term of the loan, typically 15 or 30 years. Since the interest rate is locked in, your payment will be the same every month.
Adjustable Rate (ARM) - Adjustable-rate mortgages have an introductory interest rate that lasts for a specified time period and then adjusts up or down every year for the remaining time period.
FHA - An FHA mortgage is a government-backed mortgage with less stringent down payment and credit requirements than those of conventional home loans. The initial costs can be significantly lower than other mortgage options.
VA - Designed specifically for active duty military and veterans, this loan option opens the door to home ownership with low to no down payments, fixed interest rates, and favorable loan terms. It also allows those with lower credit scores to qualify.
USDA - USDA Rural Housing loans are backed by the US Department of Agriculture and can be a great home financing option for borrowers who meet the income requirements, offering lower rates than conventional mortgages and other government-backed mortgages, such as FHA and VA home loans.
The Bellco FCU team in Sinking Spring, PA will work with you to make sure you get a home loan that is right for your budget. Contact us today to learn more!