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SCAM ALERT: Sandia Area members are continuing to report fraudulent phone calls and text messages from people claiming to be Sandia Area member representatives. This includes spoofed phone numbers which appear to originate from Sandia Area. Please be aware that Sandia Area will NEVER initiate a phone call or text message asking for your online banking credentials or to request a transfer of funds. Learn more ► 

Home Equity Line of Credit

Flexibility to use funds over time.

A Home Equity Line of Credit from Sandia Area allows you to access cash when you need it.

As a homeowner, you can leverage the equity in your home into a low rate Home Equity Line of Credit from Sandia Area! It’s a line of credit that uses the available equity in your home. Interest rates on a home equity credit line are typically lower than a standard credit card.

  • Cash for any reason
  • Ongoing access to available credit
  • No closing costs up to $150,0001
  • Rates as low as 3.75% APR1

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What is a Home Equity Line of Credit ?

The Sandia Area Home Equity Line of Credit is much like a credit card or any other type of open-ended credit. You can borrow money as needed, up to the credit limit, for a period of five years.

Your Home Equity Line of Credit is perfect for ongoing expenses and can be used for things like:

  • Home renovations
  • Educational costs
  • Start-up business expenditures
  • Medical expenses
  • Unexpected expenses

Home Equity Line of Credit
Effective Date: 05/13/2020
Term in MonthsAPR1 as low asApproximate Payment2
180 3.75% $156
1. Rates are subject to change without notice. New Sandia Area loans only. Annual Percentage Rate (APR) on approved credit. Rates are based on an evaluation of credit history and lien position. "As low as" rate assumes excellent credit history. Your rate may differ. 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 3.25% as of 03/17/2020. When a range of rates has been published, the highest rate will be used. The current margin is 0.50% and is subject to change. The APR cannot increase by more than 6.0 percentage points above the initial rate. NY Prime Rate plus margin for 80% LTV for 180 months and $150,000; NY Prime Rate plus margin for 80% LTV for 180 months and $200,000. Term of 180 months consists of 5-year draw period followed by 10-year repayment only period. Annual maintenance fee of $35 and an application fee of $35 may apply. Closing costs associated with this product are waived for loans up to $150,000 in Greater Albuquerque and surrounding area on their primary residences with clean title history. Loans over $150,000 or outside of Greater Albuquerque and surrounding area are subject to cost of property appraisal, flood certification, recording fees, and title insurance, which generally range from $1,467 to $1,600. Borrower is responsible for homeowners insurance and, if required, flood insurance. 2. Home Equity Line of Credit payment example assumes $20,000 loan with an owner-occupied property.

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