Home Equity Line of Credit
Build on the equity in your home with more flexibility!
With a home equity line of credit (HELOC), you have the flexibility to borrow what you need as you need it. Plus, you only pay interest on the amount you draw!
Features
Rates as low as 8.00% APR1
Because the funds are secured by your home, rates are often lower than other types of borrowing like credit cards and personal loans.
No Closing Costs
Depending on the county your property is located in, you may qualify for no closing costs, saving you thousands.2
No Application Fees or Annual Fees
It’s simple to apply for a Sandia Area home equity loan.
Use Funds for Anything
Use your home equity loan to build anything—a deck, a kitchen, your credit, or even a future.
Home Equity Line of Credit Rates
Effective Date: 12/20/2024
| Term in Months | APR1 as low as |
|---|---|
| 180 | 8.00% |
| Federally insured by the NCUA. An Equal Opportunity Lender. Membership eligibility required. Visit Sandia.org/Membership for complete details. 1. APR = Annual Percentage Rate effective as of 12/20/2024. Rates are subject to change at any time without notice. All loans, terms, and conditions are subject to credit approval. “As low as” rate assumes excellent credit history. Not all applicants will qualify for the lowest rate. All consumer loans are charged simple interest with no pre-payment penalty. New Sandia Area loans only in the counties of Bernalillo, Sandoval, Santa Fe, Valencia, Torrance, Cibola, Dona Ana, Rio Arriba, Mora, San Miguel and Los Alamos on primary residences with clean title history. “As low as” rate assumes excellent credit history and first lien position. Borrower is responsible for homeowners’ insurance and, if required, flood insurance. Home Equity Line of Credit is a revolving credit line. Maximum loan amount is 90% LTV for 180 months up to $200,000. Loans over $200,000 will be reviewed on a case-by-case basis. Term of 180 months consists of 5-year draw period followed by 10-year repayment only period. Home Equity Line of Credit is a variable APR (Annual Percentage Rate) based on the value of an index plus a margin and is subject to increase. The index is the NY Prime Rate published in the Money Rates column of the Wall Street Journal and is 7.50% as of 12/20/2024. When a range of rates has been published, the highest rate will be used. The current margin could range between 0.50% - 1.50% and is subject to change based on your credit score. The HELOC has a floor of 3.75% and a ceiling of 18.00% and will change by no more than 0.25% per month. | |
Understand Your HELOC Options
Calculate your available equity and see how a Home Equity Line of Credit (HELOC) can turn your home's value into cash for home projects, experiences, or expenses.
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