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Loans

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Mortgage Loans NMLS# 466209

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Type of LoanMaximum Loan AmountBase TermBase APR
Home Equity Loan - Line of Credit
Secured by first or second mortgage on member's personal residence (real property only) located in Otero, Chaves, Lincoln, Eddy or Dona Ana Counties. Property must be deeded in member's name at the time of loan application.80%* of the AVM or appraised value (less than five years old), or 100% of the assessed value established by the county assessor, less the first mortgage encumbrance, if any, not to exceed a maximum loan balance of $75,000.180 monthsThe rate is variable. The index is the Prime Rate in the Wall Street Journal. A margin of 2.5% added to the index on 1st lien, and a margin of 3.5% on 2nd lien. The floor is 5%.
Home Equity Loan - Closed End
Secured by first or second mortgage on personal residence (real property only) located in Otero, Chaves, Lincoln, Eddy, or Dona Ana Counties. Property must be deeded in member's name at the time of loan application.80%* of the AVM or appraised value (less than five years old), or 100% of the assessed value established by the county assessor, less the first mortgage encumbrance, if any, not to exceed a maximum loan balance of $75,000.180 monthsThe rate is fixed. The index is the Fed's APOR (Average Prime Offer Rate). A margin will be added to equal an APR of 1.49% above the index on 1st lien, and a 3.49% on 2nd lien.
First Mortgage on real property within Otero, Chaves, Lincoln, Eddy and Dona Ana Counties
1. Conventional - 80% loan to value without PMI*$400,00030 yearsThe rate will be set weekly based upon the current saleable rates in the secondary market. Rates and points may be adjusted upward or downward in order to meet daily competitive rates in the local market.
2. Conventional - 97% loan to value with PMI$400,00030 years
3. VA - loan to value determined by VA Guidelines (minimum of 25% of loan must be guaranteed by VA)$400,00030 years
4. First Time Home Buyers 97% LTV with $1,000 lender credit$400,00030 years

Talk to our mortgage department today at:

Norma Esquero AVP Mortgage Loan Manager NMLS# 478494 (575) 443-7020

SteveyLee Stanley Mortgage Loan Officer NMLS# 1772499 (575) 443-7006

Request a HMDA Disclosure and Statement
Equal Housing Lender NCUA 1582 (Revised2/2012)
TruStage Home Insurance Program

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