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Home Equity Line of Credit


Need extra money for home improvements, college tuition, vacation, or consolidating debt? Or, maybe you just want peace of mind knowing you have access to cash for unexpected expenses. Either way, a myLOC Home Equity Loan from Belco gives you the flexibility to use your home’s valuable equity to achieve your goals. Use a myLOC Home Equity Loan like a traditional line of credit, and pay interest only on the portion your borrow with a variable interest rate. Or, lock in a segment of your line and make fixed, predictable monthly payments for a set term and at a set rate. It’s your choice – stay with a variable rate or convert to a fixed- rate option on your line without applying for a separate loan.

  • Flexible  and convenient way to tap into your home’s equity whenever a need arises because the line is always available up to your approved credit limit.
  • myLOC features a 10-year draw period and a 10-year repayment period (20 total years).
  • Advances can be made online through Money Manager, over the phone with Belle, or at any Belco branch.
  • Convenient monthly billing statements report your minimum monthly required payment. You only need to pay the accumulated interest each month. You can pay as much as you want in addition to the minimum payment since there is no prepayment penalty. Your principal payments immediately free up your available balance for future projects.
  • Credit limits available up to 90% of the appraised value of your home.         stock-photo-68807957-woman-installing-laminate-flooring
  • Interest rate:
    • Interest rate will be indexed to the Wall Street Journal Prime Rate (WSJP) and can vary quarterly
    • You also have the option to “lock in” a portion of your balance with prevailing fixed rates (There is a $50 fee for each portion locked.)
  • Available for owner-occupied primary residences located in Pennsylvania.
  • Interest paid may be tax-deductible; consult your tax advisor to review tax implications.
  • No application fee.
  • Borrower responsible for paying applicable recording fees.
Equal Housing Opportunity Lender. We Do Business in Accordance With the Federal Fair Housing Law
and the Equal Credit Opportunity Act. NMLS#528042
If you would like a copy of Belco’s Home Mortgage Disclosure Act, please mail your request to us at: 449 Eisenhower Blvd., Harrisburg, PA 17110.
All loans subject to credit approval.