Belco Community Credit Union

Home Equity Line of Credit

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 you 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.

• The line is always available up to your approved credit limit
• 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
• You only need to pay the accumulated interest each month
• No prepayment penalty
• Principal payments immediately free up your available balance for future projects
• Credit limits available up to 90% of the appraised value of your home.       
  
• Interest rate:
  • Interest rate will be indexed to the Wall Street Journal Prime Rate (WSJP) and can vary quarterly
  • You 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
• 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.

Refinance of an existing Belco loan requires a minimum of $5,000 in new money. All loans subject to credit approval.