Borrowing with Home Equity
Home values are up, and that means more equity in your home. Home equity is the difference between what your home is worth and what you owe on it. You can borrow against that value with a home equity installment loan or a home equity line of credit (HELOC) to fund home projects, plan a big event, paying off debt, and more.
It’s home equity you can build on.
Apply Now Get GuidanceHome Equity Installment Loan
Learn More- Fixed Rates Starting at 6.75% APR1
- Receive Funds All At Once
- Predictable Monthly Payments
- No Closing Costs
- Use Funds for Anything
Home Equity Line of Credit (HELOC)
Learn More- Variable Rates Starting at 7.25% APR3
- Borrow As You Go
- Pay Only On What You Borrow
- No Closing Costs
- Use Funds for Anything
Home Equity Explained
Home equity is the portion of your home you actually own—the difference between your home’s current value and what you still owe on it. As you pay down your mortgage and your home’s value rises, your equity builds. With a home equity installment Loan or HELOC from Sandia Area, you can tap into that value for renovations, debt consolidation, big expenses, and more.
Estimate Your Home Equity
Enter your home's value and what you still owe to see your estimated equity and what you could expect to borrow.
This calculator provides an estimate for informational purposes only and does not constitute a loan offer, appraisal, or guarantee of available equity. "Borrow Up To" reflects an estimated maximum of 90% loan-to-value, less your current mortgage balance, and assumes a minimum loan amount of $5,000. Actual home value, equity, and borrowing eligibility are subject to appraisal, credit approval, and other factors. Contact Sandia Area Federal Credit Union for details.
Which Option Is Right for You?
Same low rates, no fees, and no closing costs—just two different ways to borrow. If you know exactly what you need, a home equity installment loan puts the funds in your hands upfront. If your needs are ongoing or evolving, a HELOC lets you draw what you need, when you need it.
Home Equity Installment Loan
A home equity installment Loan is the perfect option if you are unsure how much money you need and want to receive your funds up front with fixed, predictable payments.
Home Equity Line of Credit (HELOC)
A HELOC is a great choice if you want to have control over how much you borrow by taking out what you need when you need it, and only paying interest on what you draw.
Schedule a Consultation
Our lending specialists are here to guide you through every step of the process. From application to closing, we'll provide the support and expertise you need to make financing easy.
Our lending team will contact you within 1-2 business days to answer your questions and help get you started.
Borrow Smarter with Home Equity
When you tap into your home’s equity with Sandia Area, you get more than a great rate—you get a local lender who makes the process simple. No fees, no closing costs, and no surprises.
Apply Now Get Guidance
Serving Homeowners Across New Mexico
Sandia Area offers home equity loans and lines of credit on properties in Bernalillo, Sandoval, Santa Fe, Valencia, Torrance, Cibola, Doña Ana, Rio Arriba, Mora, San Miguel, and Los Alamos counties.
No Closing Costs. No Fees. No Hassle.
Save upfront and over time. You could qualify for no closing costs for loans up to $150,000—and you’ll never pay application or annual fees with Sandia Area.
Great Rates
Because the funds are secured by your home, rates are often lower than other types of borrowing like credit cards and personal loans.
Use Funds for Anything
Use your home equity to build anything—a deck, a kitchen, your credit, or even a future.
Protect Your Home
Sandia Area partners with Inszone Insurance to provide reliable home insurance options, with the coverage that fits your needs. Get a quote today!
Have These Forms Ready!
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
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/property purchase.
Copy of Homeowner’s Insurance Policy or Declaration Page
This is a type of property insurance that protects your interest in losses that 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.
Federally insured by NCUA. An Equal Opportunity Lender. Membership eligibility required. Visit Sandia.org/Membership for complete details. A manufactured home cannot be used as collateral for a home equity loan or line of credit. 1. APR=Annual Percentage Rate. Rate effective 05/20/2026, and subject to change without notice. New Sandia Area loans only. Subject to credit approval. Rates are based on an evaluation of credit history and lien position. “As low as” rate assumes excellent credit history and first lien position. Your rate may differ. 2. Closing costs associated with this product are waived for loan amounts up to $150,000 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. Loans over $150,000 are subject to 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. 3. 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. Borrower is responsible for homeowners’ insurance and, if required, flood insurance. APR = Annual Percentage Rate. Rate effective 05/20/2026, and subject to change without notice. New Sandia Area loans only. Subject to credit approval. Rates are based on an evaluation of credit history and lien position. “As low as” rate assumes excellent credit history and first lien position. 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 6.75% as of 12/12/2025. 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.
