Home Equity Line of Credit Muhlenberg Township, PA

A Home Equity Line of Credit (HELOC) in Muhlenberg Township, PA can be a valuable financing tool for home repairs, renovations and other large expenses. Expect some of the best interest rates and lowest fees at Bellco Federal Credit Union.

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 and small businesses 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.

Why a HELOC?

If you have equity in your home and need funds to remodel your home, consolidate debts, pay for a wedding, pay a tax bill or another unexpected expense, Bellco FCU can help you get quick access to cash when you need it with a Home Equity Line of Credit (HELOC).

The interest rate on a HELOC may be lower than that of traditional fixed-rate mortgages, credit cards, and other types of personal loans.

A Home Equity Line of Credit works very much like a credit card and can be used whenever you need it. As you pay off the principal, the credit revolves, and you can use it again and again for the duration of the draw period.

If you need funds all at once, a traditional home equity loan may make more sense for you. The Home Equity Loan is considered a second mortgage and may have a higher interest rate than that of your first (primary) mortgage. The funds are provided in a lump sum, and then you make monthly payments to repay the loan.

How to Get Started

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 take advantage of competitive rates for mortgages, personal loans, credit cards, and the many other services we offer. 

If you are facing large or unexpected expenses, consider a Home Equity Line of Credit from Bellco FCU in Muhlenberg Township, PA for the cash you need.