Home Equity
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, consolidate debt, and more!
It's home equity you can build on.
Everything You Need from a Trusted Local Lender
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.
No Closing Costs. No Fees. No Hassle.
Save upfront and over time. Depending on your county, you could qualify for no closing costs—and you’ll never pay application or annual fees with Sandia Area.
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.
Use Funds for Anything
Use your home equity to build anything—a deck, a kitchen, your credit, or even a future.
Compare
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Lower Rates |
No closing costs |
Use funds for anything |
Using your funds |
Rates |
Payments |
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Home Equity Installment Loan |
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Get your funds at once |
Fixed Starting at 6.75% APR1 |
Predictable monthly payments | ||
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Home Equity Line of Credit |
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Borrow as you go |
Variable Starting at 7.25% APR3 |
Pay only on what you borrow |
Home Equity Installment Loan vs. HELOC
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.
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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.
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