Mortgage and Home Loans

Mortgage and Real Estate Loans

Are you looking to buy a new house or refinance your existing home? Then trust in your local experts at Del Norte Credit Union to take care of your mortgage loans today. If you are ready to get the process started, use our convenient online mortgage center.

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Since we live and work in Santa Fe, Española and Los Alamos, our team takes great pride in offering the most competitive mortgage loans in New Mexico. 

  • Process your loan locally
  • Underwrite your loan locally
  • Mortgage experts in your Neighborhood.

One of the many benefits of working with us is that we not only understand the local real estate market, but we also understand the challenges that our friends and neighbors face when financing that dream home.

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Let our experts help you make your real estate dreams a reality with one of our many options for mortgage financing in Española, Los Alamos, White Rock, Santa Fe and Northern New Mexico. We proudly offer the following:

New Home Loans

Buying a new home can certainly seem intimidating, but don’t let fear of the unknown keep you from reaching your goal of home ownership. Our mortgage loan experts will guide you every step of the way. Let Del Norte Credit Union make your loan process straightforward and easy to understand.

Refinancing Loans

The benefits of refinancing your mortgage can be a tremendous help to your family. By refinancing, you can lower your monthly payment and put more money back in your budget. Our experts will walk you through the process and determine if refinancing is the right option for you. Your home is an investment, so it's important to get the most out of it.

Home Improvement Loans

Is it time to make those home upgrades you’ve been dreaming of? Perhaps you want to remodel that kitchen or bathroom, or maybe you are ready to make the jump to solar power. Regardless of the project, our home loan experts can match your needs with the right loan solution.

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We have mortgage experts in your neighborhood!

New to home loans? When you want to buy a home in Northern New Mexico, we have resources and tools to help you make the decision. Learn more here.

Buying your first home can be an intimidating and expensive process. Understanding all of the requirements is crucial, especially when it comes to mortgage loans and avoiding costly mistakes. We’re here to help you better understand the process and feel confident when investing in your home. 

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What Goes into Qualifying You for a Home Loan

Stable Income 

Your employment and job history are important factors in showing your ability to repay the mortgage loan. Mortgage lenders will verify your employment status before moving forward with other parts of the process. If you’re self-employed, additional paperwork regarding your business may be required. Generally, what lenders look for is stable work history.

At DNCU, we’ll lead you through these initial steps to ensure you’re on track. If you have any questions or concerns while filling out the application online, give us a call or visit our Santa Fe mortgage center for help. 

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Good credit score

Your credit score also determines your eligibility for a home loan. Maintaining a good credit score improves your eligibility for the most favorable mortgage rates. If you have a low or moderately low credit score that falls below what we require, we can suggest ways to help you improve your score. 

Down payment

You’re in a better position if you apply for a loan with a down payment in hand. One of the requirements that we look into when it comes to mortgage loans in the Santa Fe area is your LTV (loan-to-value) ratio. The more favorable the ratio, the more eligible you become.

What Can I Afford?

All it takes to figure out how much house you can afford is some quick number crunching, and you’re on your way. Factor in your income, existing debts, down payment and other purchase price and payments that make sense for your budget. If you’re having trouble calculating how much you can afford, we’re here to help! Get in contact with us by calling or visiting our location. 

Why You Would Want a Refi Loan?

Refinancing provides you with the opportunity to take out a new loan and pay off your current mortgage. These loans are secured against your home, have lower rates, offer longer loan terms, and allow you to borrow more than you can with a personal loan. At Del Norte Credit Union, we offer varied home refinancing loan options right for your needs. Reasons to refinance:

  • Change your type of loan
  • Lower your mortgage rate and payment
  • Convert to a shorter-term loan
  • Remove Private Mortgage Insurance

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Budgeting for Repairs and Taxes

When buying a home in New Mexico, you may worry about getting a favorable mortgage, the down payment, and/or how to avoid private mortgage insurance. You may also start worrying about home repair costs, renovation costs, and insurance pricing in your budget. So, be sure not to tap yourself out by spending the maximum early on. Budgeting for repairs will depend on the age, size, and condition of the house. And when you’re on the hook and need financing, you can rely on DNCU for a loan that will help you settle the repairs and taxes. Contact us to learn more about our real estate loans.