[b]Harrisburg PA[/b] - Belco Community Credit Union is offering low home equity rates to give their members the most cash for their home. In a traditional home equity loan, the member borrows against the equity of a home, receiving a single large lump sum subject to a fixed interest rate. This type of loan must then be repaid with monthly payments. These loans are fairly easy to qualify for, even with a less-than-perfect credit history.
Fixed interest ensures that the monthly payment remains the same over the life of the loan. With Belco’s low loan rates, this interest rate can be as low as 2.99% annually. When paid over a loan period of up to 15 years, that monthly payment can be easy to manage. This means that there is more money left in the member’s pocket each month. The only requirement for a home equity loan is that when the terms of the loan are met, the full amount of borrowed funds and interest must be paid back to the credit union. Payment methods on these loans are very convenient with electronic payment options and are simple to use. It’s easy for members to submit and track payments on their loan.
In addition, [b]Belco credit union home equity loans[/b] may be tax deductible. To qualify for this deduction in 2018, the loan proceeds must be used to buy, build or substantially improve the taxpayer’s home that secures the loan. At Belco, you can borrow up to 100% of the value of your home, creating more possibilities to save money on your taxes. Consult your tax advisor for complete tax implication information.
With a fast turnaround time between application and approval, Belco’s home equity loan rates ensure that members who apply for a loan will have the best benefits and get the most money from their home.
[b]About Belco Community Credit Union[/b]
Belco Community Credit Union provides unparalleled excellence through its variety of products including members-only checking, savings, loans, business services, and investment vehicles. To find out more about Belco Community Credit Union, visit www.belco.org.