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ROUTING NUMBER: 307070050
A little brew,
a little home loan,
and a whole lot of fun!
Thursday, July 28 • 5:30–7:30 p.m.
We're Your Home Equity Leader
Put your home to work. Apply online, day or night!
No Closing Costs
Low Rates
Local Payments and Service
Loan or Line-of-Credit?
You have two great options for accessing your equity. A home equity loan provides a lump sum of cash for your projects or expenses; a home equity line-of-credit allows you to pay as you go for your expenses and make payments only on what you’ve used. Each has features and drawbacks depending on your situation.
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 | 6.75% APR* (fixed) | 7.50% APR* (variable) |
| Maximum Terms | 180 months | 10 years to draw; 20 years to repay |
| Available for investment properties | Yes |
Financial Workshops & Educational Resources
Financial Wellness Center
We have developed a Financial Wellness Center, in partnership with MoneyEdu, to offer online courses, a full article library, and personal credit counseling agents that can meet with you on your time.
Using the Equity in Your Home
Home equity can be tapped for any reason – from home renovations to paying off high-interest debt. Topics include:
- How home equity is determined.
- Ways to access your home equity.
- The potential pros and cons of tapping home equity.
- How tapping home equity may affect your first mortgage
Calculate Your Payments
No need to guess what your monthly payments will look like on your home equity loan—try it now!
Once you’ve calculated your payments, click Save or Apply Now to send us your information. A representative will follow up to answer any questions or help you get started.
Home Equity at Work
Remodel a kitchen
Landscape that yard
Handle home repairs
Replace the roof
Emergency funds
Consolidate debt
Pay for an education
Alternative to a credit card or personal loan
READY TO APPLY? LET’S GET STARTED!
Click
Apply online, any time!
Call
Give us a call, and a representative will help you get started.
CALL 1-800-880-5328
Visit
Stop by any of our convenient branches to apply for your home equity loan or line-of-credit.
Financing available for properties in New Mexico only. Loans subject to credit approval and based on equity in home. Closing costs may vary based on transaction. Actual savings based on transaction amount. Home Equity loans are limited to 90% primary and secondary residence; $10,000 minimum. Home Equity lines of credit are limited to 90% primary and secondary residence; 80% investment property; $10,000 minimum. Borrower is responsible for homeowners insurance premiums, property taxes, and flood insurance premiums, if applicable. Consult a tax advisor regarding deductibility of interest. As with all lending services, full disclosures, terms, and conditions will be supplied with your mortgage or home equity disclosures. Membership eligibility required. Kirtland CU welcomes veteran, active-duty, and retired members of all branches of the U.S. military, including NM National Guard and Reserve, who have ever been served by KAFB; contractors, employees, and retirees of businesses who work on or with KAFB under contract with the U.S. Government; members and employees of partner organizations throughout Albuquerque; and family members of eligible or existing members. Special restrictions may apply. Contact us for complete details.
