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Use Your Equity to Consolidate Debt

Average home values in the Albuquerque and Santa Fe markets are up by $25,000 or more. Use the extra equity in your home to consolidate debt with a low-rate Home Equity Loan or Home Equity Line of credit.

Plus, pay no closing costs1!

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Use this helpful guide to learn the key differences between a Home Equity Loan and a Home Equity Line of Credit to determine which one is right for you.

 


Home Equity Loan

Home Equity Loan Rates
Effective Date: 09/15/2020
Term in MonthsAPR1 as low asApproximate Payment2
120 4.00% $203
180 4.25% $151
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. Closed End Home Equity Loan is a fixed rate loan. Maximum loan amount is $200,000 and maximum LTV is 80%. 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. Payment example assumes $20,000 loan.

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Home Equity Line of Credit

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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505-256-6063