ROUTING NUMBER: 307070050
EMPOWERED BY EQUITY
Finance your plans - big or little with a home equity loan
You’ve invested a lot in your home over the years. Now that investment can pay you back! With a home equity loan or line-of-credit from Kirtland, you’ll be ready for whatever life throws at you:
Home Renovations
Repair Projects
College Tutition
Debt Consolidation
Whether you’re looking for an easier way to pay off your credit cards or a way to pay for the foundation repairs you’ve been putting off, we can make the home equity process easy, understandable, and worry-free. It’s financial confidence and peace of mind that’s there when you need it.
It’s one thing to dream of an updated kitchen. It’s another thing to make your morning coffee in it every day. We can help you get there.
Loan or Line-of-Credit?
You can access the equity in your home in two ways: a loan or a line-of-credit. Loans provide a lump sum for that one-time project or big expense with a fixed monthly payment you can count on. Lines-of-credit are available for you to draw on whenever you need – and you only pay back on the amount you’ve used.
Here are the key differences:
| Home Equity Loan | Home Equity Line-of-Credit | |
|---|---|---|
| What It Is | A loan with fixed payments and a fixed interest rate. | A line of credit (like a credit card) with a variable interest rate that you can use for up to 10 years. |
| A fixed interest rate with predictable monthly payments | Yes | |
| An adjustable interest rate with variable monthly payments | Interest-only payments during the draw period** | |
| Lump sum | Yes | |
| Pay interest only on the money you use | Yes | |
| Rates as low as | 7.00% APR* (fixed) | 7.25% APR* (variable) |
| Maximum Terms | 180 months | 10 years to draw; 20 years to repay |
| Available for investment properties | Yes |
Both loans allow you to borrow against the equity you’ve built in your home over time. Both feature no closing costs, low rates, and local servicing. At Kirtland, there are never any application or annual fees for either of these loans.
No Closing Costs
Low Rates
Pay For Any Project
EMPOWER YOURSELF TODAY
Three easy ways to apply
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Talk with a representatives to ask questions and start your application. Call 1-800-880-5328
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Begin your application at one of our convenient branches.
*APR = Annual Percentage Rate. (IF APPLICABLE on art or images, headlines) Financing available for properties in New Mexico only. Subject to credit approval and based on equity in home. Home Equity loans and lines of credit are limited to 90% loan-to-value. Maximum loan amount is $500,000; draw period of 10 years; repayment period of 20 years; interest only payments allowed monthly during draw period only. Borrower is responsible for homeowners insurance, property taxes, and flood insurance premiums, if applicable. Special restrictions may apply. Consult a tax advisor regarding deductibility of interest. Membership eligibility required. See a Representative for complete details. Equal housing lender.
