Best HELOC Rates Berks County, PA

When looking for the best HELOC (Home Equity Line of Credit) rates in Berks County, PA, consider Bellco Federal Credit Union. We offer competitive rates, low fees, local decision-making and loan processing, and attentive, friendly service.

Bellco FCU is a member-owned, not-for-profit federal credit union in Berks County, PA, that caters exclusively to members and offers a variety of affordable financial services. We provide a safe place to save and borrow at reasonable rates with exceptional customer service.

Membership in Bellco FCU is open to people who live, work, worship, or attend school in Berks County, PA. Simply open a Member Savings account with as little as $5, and set up your membership in a few simple steps.

Once you are a member, your immediate family members will be eligible to join too and can take advantage of our competitive rates for mortgages, personal loans, credit cards, and the many other services we offer.

About HELOCs

A Home Equity Line of Credit, also known as a HELOC, enables you to borrow against the equity in your home (usually 80% to 90% of your home equity value), on an as-needed basis. Similar to a credit card, you can repeatedly pay back and borrow from the line of credit whenever you need the money during what is called a “draw period,” (typically 5 or 10 years).

During the draw period, you will be required to make modest payments on the HELOC. As you pay down the principal, your credit line revolves, and you can use the funds again and again for the duration of the draw period. When the draw period ends, you will enter a repayment period during which you will pay off the debt more aggressively.

A HELOC can be an excellent source of funds if you need major home repairs, such as replacing your roof, central air conditioning, furnace, old cast-iron plumbing, or when remodeling a kitchen. A HELOC may also be a good option if you are paying for a child’s college tuition. Pay the tuition, pay off the amount, and then borrow from the line of credit again next semester. 

A HELOC from Bellco FCU may offer the funding you need for large expenses at a lower interest rate than that of traditional fixed-rate mortgages, credit cards, and other types of personal loans. 

Take advantage of current regular HELOC rates as low as 3.99%APR (subject to change at any time) and our special 6-month Introductory Rate of 1.99%APR (may be discontinued without notice).

Bellco FCU also offers the traditional Home Equity Loan, a second mortgage that is secured by the equity in your home and provides funds to you in a lump sum at a fixed rate for a fixed term (up to 15 years). It is similar to refinancing your mortgage, but without many of the closing costs. The loan is repaid in budget-friendly fixed monthly payments, just like your original mortgage. 

To explore the best HELOC rates in Berks County, PA and decide which type of home equity loan better suits your needs, contact Bellco FCU today. We are eager to help you accomplish your goals!