Home Equity Line of Credit Fleetwood, PA

A Home Equity Line of Credit (HELOC) from Bellco FCU can help you tap into the equity you’ve built up in your Fleetwood, PA home and use the funds for large or unexpected expenses. 

Bellco FCU is a member-owned, not-for-profit federal credit union. For 80 years, we have provided unique financial products and services to individuals in Berks County, including HELOCs, traditional Home Equity Loans, fixed-rate mortgages, and more.

What is Home Equity?

Equity is the portion of your home that you own compared to the portion you owe to the lender. In other words, if your home is valued at $250,000 and you owe $175,000, you have $75,000 in equity – or 30%. This means that you still owe 70% of the value of the home (known as Loan-to-Value.) Your equity can be used as collateral for a HELOC.

About Home Equity Lines of Credit 

A Home Equity Line of Credit (HELOC) works very much like a credit card and can be used whenever you need the funds. The interest rate may be lower than that of traditional fixed-rate mortgages, credit cards, and other types of personal loans.

Unlike the conventional Home Equity Loan, the interest rate on the HELOC is adjustable (not fixed), which means it may change over the term of the loan.  

During what is called a “draw period” (typically 5 or 10 years), you can make as many withdrawals as you like up to your credit limit, if and when you need the funds. The HELOC can be an excellent solution when you need to borrow small amounts over a longer period, such as for an extensive home renovation project or to pay ongoing tuition fees.

Not Yet a Member of Bellco FCU?

You are eligible to join Bellco FCU if:

• You live, work, worship, or attend 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

Open a Member Savings account with as little as $5, and establish your membership in a few simple steps. This is not a fee; it is a share in the credit union and provides you with voting rights and a say in any decisions we make. 

Even if you leave your current employer, retire, or move away, you can remain a Bellco FCU member for life. You will have access to your accounts from anywhere by mail, phone, fax, online and at thousands of ATMs across the nation.

If you are interested in a Home Equity Line of Credit in Fleetwood, PA, or need information about other types of loans, the locally-knowledgeable loan advisors at Bellco FCU will be happy to help!