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Berks Community Federal Credit Union will lend up to 75% of the
appraised value of the home minus the amount of the first lien
as second lienholder on the property. Members may make
draws against the line of credit up to 5 times per year for a period
of 5 years. Minimum draw amount is $300.00. The minimum monthly
payment is $100.00 or the amount required in accordance with the
outstanding balance. Payments may be adjusted upward at the time of a
new advance or an increase in the loan interest rate. The variable
rate is indexed to the Prime Rate as of the third Tuesday of the month
with no added margins. Rates are subject to change monthly.
