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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!

Apply Now

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Features

Low Rates

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

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

No Application Fees or Annual Fees

It’s simple to apply for a Sandia Area home equity loan. 

Apply Now

Use funds for anything

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 MonthsAPR1 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. 

Your Mortgage

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Forms Required

Copy of Original Warranty Deed
This is the document that proves you own your home/property. You will find this with your property records, likely in a Title Company Folder that was provided to you when you closed on your home purchase.
Copy of Original Owner's Title Insurance Policy
This is an insurance policy you received when you purchased your home/property that protects you against loss resulting from a defect in the Title. You will find this with your property records, likely in a Title Company Folder that was provided to you when you closed on your home/propert purchase.
Copy of Homeowner's Insurance Policy or Declaration Page
This is a type of property insurance that protects your interest in losses thay may occur in respect to your home (fire, theft of contents, etc). Your insurance agent will be able to provide you with a copy of your policy. The declarations page shows limits of coverage for various categories.
Verification of Income
Regulations governing real estate lending make it necessary for us to obtain verification of income. Please provide us with your last two pay statements. If you are self-employed, please provide us with your last two years of signed tax returns.


Debt Protection

Protect your loan—and your loved ones—with optional Debt Protection with Life Plus.

Learn More

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Sandia Area Federal Credit Union
P.O. Box 18044
Albuquerque, NM 87185

1.505.292.6343
1.800.228.4031

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National Credit Union AdministrationEqual Housing Lender

This Credit Union is federally insured by the National Credit Union Administration (NCUA).

Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.

Equal Housing Lender. We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.

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Copyright © Sandia Area Federal Credit Union. All Rights Reserved.

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Financial Calculators

2024 Federal Taxable Income Brackets and Rates (for returns due in April 2025)

Income - Single Income - Head of Household Income - Married Filing Jointly Income - Married Filing Separately Federal Tax Rate
$0 - $11,600 $0 - $16,550 $0 - $23,200 $0 - $11,600 10%
$11,601 - $47,150 $16,551 - $63,100 $23,201 - $94,300 $11,601 - $47,150 12%
$47,151 - $100,525 $63,101 - $100,500 $94,301 - $201,150 $47,151 - $100,525 22%
$100,526 - $191,950 $100,501 - $191,950 $201,151 - $383,900 $100,526 - $191,950 24%
$191,951 - $243,725 $191,951 - $243,700 $383,901 - $487,450 $191,951 - $243,725 32%
$243,726 - $609,350 $243,701 - $609,350 $487,451 - $731,200 $243,726 - $365,600 35%
$609,351+ $609,351+ $731,201 $365,601 37%

2023-2024 Average Cost of Colleges & Universities

Type Residence Tuition & Fees With Room & Board
Public 4yr
Residence:
In-state
Tuition & Fees:
$11,260
With Room & Board:
$24,030
Public 4yr
Residence:
Out-of-State
Tuition & Fees:
$29,150
With Room & Board:
$41,920
Public 2yr
Residence:
In-State
Tuition & Fees:
$3,990
With Room & Board:
$13,960
Private 4yr
Residence:
N/A
Tuition & Fees:
$41,540
With Room & Board:
$56,190

Historic Rates of Return 1926-2023

Inflation 2.9%
U.S. Treasury Bills 3.3%
Long-Term Government Bonds 5.1%
U.S. Large-Company Stocks 10.3%
U.S. Small-Company Stocks 11.8%

Social Security Amount

This calculator will estimate your monthly Social Security amount based on the the income(s) and marital status provided. If you would like to override this estimated amount with a different amount, you may do so by entering that amount here.

72(t) Distribution Amounts

IRS Notice 2022-62 provides that taxpayers may use—beginning with payments starting in 2022 or later—the greater of 120% of the applicable Federal mid-term rate, or 5% to calculate 72(t) payments using the Amortization or Annuitization methods.

The RMD method does not use an interest rate.

Click here for Federal Mid-Term Rates

10-Year U.S. Inflation: Average 1.9%

Year Inflation Rate
2014 1.6%
2015 0.1%
2016 1.3%
2017 2.1%
2018 2.4%
2019 1.8%
2020 1.2%
2021 4.7%
2022 8.0%
2023 4.1%

Source: U.S. Department of Labor

Back End Ratio

Also known as the debt ratio, lenders use this ratio, along with the front-end ratio, to determine the maximum loan amount. Debt ratio equals your combined monthly mortgage payment plus any other monthly debt obligations, such as credit cards and alimony, divided by your gross monthly income. Use a back-end ratio of 33% for conservative results and as high as 42% for aggressive results (usually requires excellent credit and a higher down payment).

Front End Ratio

Also known as the housing ratio, lenders use this ratio along with the back-end ratio to determine the maximum loan amount. The housing ratio equals the combined (principal + interest + taxes + insurance) monthly mortgage payment divided by your gross monthly income. For example, a combined monthly mortgage payment of $1,200 divided by gross monthly income of $4,500 equals a housing ratio of 27%. Use a front-end ratio of 28% for conservative results and as high as 36% for aggressive results (usually requires excellent credit and a higher down payment).

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