Home Equity Loans and Lines of Credit

Finance a major purchase or project by accessing the equity in your home with Nusenda Credit Union home equity loans and home equity lines of credit (HELOC).

Our home equity loans offer low fixed rates, affordable payments and flexible terms, and the interest may be tax deductible.

With our home equity line of credit loans, you have the flexibility to access cash as needed, with a variable rate and access to your line of credit for up to five years. There is also the option to pay interest only for the initial five years, keeping your payment low if you plan to sell the house in the near future.

Both options qualify for our Earn Your Return program, giving you the opportunity to earn more cash back by increasing your participation in Nusenda Credit Union. Not sure which option is right for your needs? We’re happy to help you make an informed decision. Contact us today!

Call us at 505-889-7755 (800-347-2838 outside the Albuquerque area) or make an appointment at a branch near you.

Home Equity Loans and HELOC Benefits

  • No closing costs or annual fees!
  • Competitive rates
  • Use for any purpose, such as debt consolidation, home improvements, large purchases and medical or emergency expenses


Home Equity Loan — Fixed Rate Home Equity Line of Credit
Maximum LTV No LTV limitation for $25,000 and under
Up to 90% LTV for loans above $25,000
No LTV limitation for lines $25,000 and under
Up to 90% LTV for lines above $25,000
Maximum Loan Amount Up to your approved credit limit Up to your approved credit limit
Term Up to 180 months 5-year draw term
180-month repayment term
Interest-only payment option
Funding Lump sum Draw funds as you need them
  • Funds may be used for any purpose
  • No Closing Fees
  • No annual fee
  • Tax advantages*
  • Credit Protector
  • Earn Your Return eligibility
  • Funds may be used for any purpose
  • Access funds as you need them
  • No closing fees
  • No annual fee
  • Tax advantages*
  • Earn Your Return eligibility

Home Equity FAQs

Q. What is LTV and how do I calculate it?

A. LTV (Loan to Value) tells you how much equity you have in your property and helps you determine if a home equity loan is right for you, since most equity loans have different rates for different LTV levels. Calculate your LTV by dividing your mortgage balance by your property’s appraised value. For example, if you have a mortgage balance of $100,000 and your house is appraised at $150,000, your LTV ratio is 67%.

Q. What if I do not have an open mortgage on my home?

A. That means you have 100% equity in your home, which makes you eligible for home equity products and mortgage products. The product you choose depends on your needs and how much you’d like to borrow. To explore your options, contact us today.

Q. What forms or information do I need to apply?

A. To process your application, you’ll need to provide:
  • Last two years' tax returns. 
  • Two most recent pay stubs.
  • Proof of other income to be considered, such as Social Security, pension, rental income, child support, alimony, etc. (if applicable).
  • Documentation of current mortgage balance. If there is not current mortgage, provide your most recent property tax bill.
  • Declaration page of your homeowner’s insurance and flood coverage insurance (if applicable)

Q. Is the interest I pay on my home equity loan tax deductible?

A. The interest portion of your home equity loan may be tax-deductible, similar to the deduction on a first mortgage. Check with your tax adviser for details.

Q. What types of properties qualify for home equity loans?

A. Single-family dwellings, detached homes, town homes and duplexes can all be used as collateral. At this time, condos and manufactured housing are not eligible for home equity loans.


You’ve come to the right place to get the information you need to manage your day-to-day home equity and Line-of credit needs.


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