New Mexico Bank & Trust
Home Equity Line of Credit

Use the equity available in your home to fund your passions at an affordable rate.

Limited Time HELOC Offer

Limited Time HELOC Offer

 

Fund Your Passion With a HELOC - No Closing Costs!4

Fund Your Passion With a HELOC - Low Closing Costs!4

Whether it's navigating the great outdoors, kicking your favorite dish up a notch with your culinary skills, furnishing your living space with just the right look and feel, or anything in-between New Mexico Bank & Trust is here to help fund your passion.

Take advantage of these additional rate discounts after the introductory rate based on eligible deposit accounts held at New Mexico Bank & Trust.3

Rate Discount Deposit Account Balance APR
0.00% $0 - $49,999.99 as low as 4.00%2
0.25% $50,000 - $99,999.99 as low as 3.75%2
0.50% $100,000 - $199,999.99 as low as 3.50%2
0.75% $200,000 and above as low as 3.25%2

 

What’s the difference between a Home Equity Line of Credit and a Home Equity Installment Loan?

Both loans use the equity in your home as collateral, so what’s the difference?

A Home Equity Line of Credit (HELOC) is a revolving credit line similar to a credit card. The borrower can draw money on the HELOC, pay it back, and then draw on it again if they choose. 

A Home Equity Installment Loan is a fixed term loan with a fixed interest rate. The borrower will receive the lump sum of the amount they are approved for, and then will pay it back with a fixed term and fixed interest rate.

A HELOC may be the best option if you aren’t sure when or how much money you need. If you do not draw money from your HELOC, you do not have to make any payments. A Home Equity Installment Loan would be a good option if you have a larger project that you know the cost of up front.

Apply for a new loan or account with a video call.

Contact Us to Get Started

 

Speak With One of Our HELOC Experts

 

Tara Blanchard, NMLS #1896645

tblanchard@dubuquebank.com

563.589.2164

Michelle Hager, NMLS #1223973

mhager@dubuquebank.com

563.589.2116

Linda Duccini, NMLS #537310

lduccini@dubuquebank.com

563.589.2173

Nikki Peebles, NMLS #539666

npeebles@illinoisbank.com

815.777.5107

Kyle York, NMLS #930003

kyork@illinoisbank.com

815.484.7553

Brenda Nayonis, NMLS #509216

bnayonis@illinoisbank.com

815.489.2147

Jessica Hayes, NMLS #925249

jhayes@arizbank.com

480.844.4546

Dominic Paxinos, NMLS #543066

DPaxinos@rmbank.com

406.777.7810

Karla Johnson, NMLS #1735790

KJohnson@rmbank.com

406.655.6028

Jolene Bradstreet, NMLS #543048

Email Jolene

406.751.7062

Stephanie French, NMLS #1185100

SFrench@rmbank.com

406.765.3212

Delga Madrigal, NMLS #1651609

Madrigal@citywidebanks.com

303.365.3663

Elaine Cheshire, NMLS #1831814

ECheshire@citywidebanks.com

720.873.3791

Jordan Cross, NMLS #1651608

JCross@citywidebanks.com

970.855.0528

Serena Faith Masterson, NMLS #932585

SMasterson@citywidebanks.com

303.595.2553

Kim Webb, NMLS #1041994

KWebb@citywidebanks.com

720.873.3776

Danielle Culver, NMLS #1450679

DCulver@citywidebanks.com

303.365.3711

Dayana Cuen, NMLS #1894403

DCuen@citywidebanks.com

970.855.0705

Drew Brown, NMLS #2076738

Abrown2@mnbankandtrust.com

952.746.3366

Matt Hunkins, NMLS #1845901

MHunkins@mnbankandtrust.com

952.746.3384

Regina Esquibel, NMLS #421472

REsquibel@bankbv.com

913.234.2403

Patricia Heinen, NMLS #1138672

PHeinen@bankbv.com

785.284.7816

Ryan Brady, NMLS #1857772

RBrady@bankbv.com

913.234.2256

Cathy Ford, NMLS #772754

CFord@bankbv.com

816.548.4038

Nayri Anwaya, NMLS #725497

nanwaya@premiervalleybank.com

559.256.6434

Kimethy Ellis, NMLS #1442997

kellis@premiervalleybank.com

209.966.5444

Sabrina Ostrowski, NMLS #746570

sostrowski@premiervalleybank.com

559.642.0635

Andrea Santiago, NMLS #2085250

asantiago@premiervalleybank.com

559.256.6486

 


1Annual Percentage Rate (APR) shown above is variable after 6-month introductory rate and subject to change without notice. Introductory APR for loan-to-value (LTV) between 80% - 90% will be 3.24%. After the introductory rate, the index used to determine the interest rate is the Wall St. Journal Prime Rate. Index as of 10/26/2021 was 3.25%, plus a margin of 0.75%. Your margin and APR will be based on credit history, loan-to-value, eligible deposit account balance with New Mexico Bank & Trust and automatic monthly payments. The minimum APR for plans with an 80% or less LTV is 3.25% and LTV between 80%-90% will be 4.50%. Maximum APR is 17.50% on all plans. $50 annual fee will be assessed on the anniversary date of the loan.

2Automatic payment from New Mexico Bank & Trust checking account is required or 0.25% will be added to the APR.

3Eligible deposit accounts include personal consumer checking, savings, and money market accounts. Funds must be in deposit account prior to final loan approval.

4No closing costs. Hazard insurance is required and flood insurance may be required.

The offer is available on new lines only, owner occupied homes. In order to qualify as a new line, you may not have had a line using the same owner-occupied home as collateral with New Mexico Bank & Trust within the past 30 days. Not available on piggyback loans to purchase property, homes that are for sale and/or listed for sale, purchase money HELOCs and refinancing existing bank mortgage or HELOC debt even if new money. Subject to credit approval and normal underwriting guidelines. Contact lender for details. Apply by 12/30/2021.

1Annual Percentage Rate (APR) shown above is variable after 6-month introductory rate and subject to change without notice. Introductory APR for loan-to-value (LTV) between 80% - 90% will be 3.25%. After the introductory rate, the index used to determine the interest rate is the Wall St. Journal Prime Rate. Index as of 10/26/2021 was 3.25%, plus a margin of 0%. Your margin and APR will be based on credit history, loan-to-value, eligible deposit account balance with Minnesota Bank & Trust and automatic monthly payments. The minimum APR for plans with an 80% or less LTV is 5.00% and LTV between 80%-90% will be 6.25%. Maximum APR is 17.50% on all plans. $50.00 annual fee will be assessed on the anniversary date of the loan.

2Automatic payment from Minnesota Bank & Trust checking account is required or 0.25% will be added to the APR.

3Eligible deposit accounts include personal consumer checking, savings, and money market accounts. Funds must be in deposit account prior to final loan approval.

4Low closing costs. Borrower responsible for mortgage registration tax and state deed tax, if applicable, which ranges from $0 - $3,000. Hazard insurance is required and flood insurance may be required.

The offer is available on new lines only, owner occupied homes. In order to qualify as a new line, you may not have had a line using the same owner-occupied home as collateral with Minnesota Bank & Trust within the past 30 days. Not available on piggyback loans to purchase property, homes that are for sale and/or listed for sale, purchase money HELOCs and refinancing existing bank mortgage or HELOC debt even if new money. Subject to credit approval and normal underwriting guidelines. Contact lender for details. Apply by 12/30/2021.

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