Does USAA Offer Home Equity Loans and HELOCs? Best Alternatives for Military Members and Veterans

Why it’s one of the best

LendingTree’s HELOC marketplace lets you indicate if you or your spouse are military members or veterans during the application process, then tailors the results to you. Results like NAF and Amerisave provide special military offers.

The LendingTree marketplace an excellent option for fair credit borrowers who want to compare multiple lenders without the hassle of multiple applications. Its quick, no-cost prequalification process uses a soft credit inquiry, letting you explore rates and terms without impacting your credit score.

LendingTree’s platform also provides access to both HELOCs and home equity loans, giving you a broader range of options. While its network is limited to participating lenders, its emphasis on transparency and ease of comparison can simplify the search for affordable HELOC terms.

• Quick prequalification with no impact on your credit score
• Access to multiple HELOC and home equity loan offers
• No fees to use the platform
• Available in all 50 states + DC

• Limited to lenders in LendingTree’s network
• Does not disclose the full interest rate range of partner lenders

Why we like it for military families

For military families seeking an alternative to USAA’s discontinued home equity loans and HELOCs, Navy Federal Credit Union stands out as a strong option. As the largest credit union in the U.S., it caters exclusively to military members and their families with specialized financial services and competitive home equity products.

Navy Federal offers home equity loans and HELOCs with no application or origination fees—ideal for families looking to access their home equity affordably. These products include competitive interest rates, repayment terms of up to 20 years, and a generous loan-to-value ratio of up to 100%, making it easier to borrow the funds you need.

Under the Servicemembers Civil Relief Act (SCRA), eligible accounts benefit from a maximum 4% interest rate (APR), offering meaningful savings for active-duty members. For military families who relied on USAA for home equity solutions, Navy Federal’s combination of low rates, flexible terms, and military-focused benefits makes it a compelling alternative.

• No fees: No application or origination fees for home equity products
• Generous borrowing limits: Up to $500,000 with 100% LTV
• Flexible repayment terms: Choose between 5, 10, 15, or 20 years

Why we like it for military families

Armed Forces Bank offers military families a versatile alternative to USAA’s discontinued home equity products. With over a century of experience serving active-duty service members, veterans, Department of Defense personnel, and their families, this full-service bank specializes in financial solutions tailored to the unique needs of the military community.

Its HELOC features a six-month introductory rate of 4.99%, followed by a variable rate of 7.99%. Military borrowers can access up to $200,000 with an 85% loan-to-value (LTV) ratio, and amounts over $250,000 are available with LTV limits of up to 70%. The $50 annual fee is waived for those who set up autopay, and low or no closing costs make this an affordable way to unlock home equity for significant expenses, such as home improvements or medical bills.

While it doesn’t operate in Texas, Armed Forces Bank’s HELOC is a strong choice for military borrowers looking for an affordable way to access home equity with military-focused support and competitive terms.

• Introductory rate: Low fixed rate for the first six months
• Flexible limits: Borrow up to $200,000 with LTVs up to 85% or higher amounts with adjusted LTVs
• Affordable fees: $50 annual fee waived with autopay and low or no closing costs

Why we like it for USAA members

For military families seeking a fast and modern alternative to USAA’s discontinued home equity products, Figure offers a tech-forward solution. Known for its quick funding and streamlined process, Figure’s fixed-rate HELOC allows borrowers to apply online and get funds in as little as five days—ideal for those who need fast access to their home equity.

Figure’s HELOC stands out for its flexibility and affordability. Borrowers can redraw up to 100% of the loan amount, enjoy flexible repayment terms, and avoid prepayment penalties. It also offers a discounted rate for autopay enrollment, making it even more cost-effective. However, borrowers must draw the entire loan amount at origination, which may not suit those with fluctuating cash needs.

While not exclusive to military members, Figure’s rapid application process and competitive terms make it an excellent option for homeowners in 45 states, including many military families looking for fast and efficient funding. The main challenge may be credit score, as it almost exclusively approves applicants with a FICO score of 720 or higher.

• Fast funding: Get funds within 5 days of approval
• Affordable terms: Fixed rates with discounts for autopay enrollment
• Flexible repayment: Terms of 5, 10, 15, or 20 years without prepayment penalties
• Generous limits: Borrow up to $400,000 with up to 95% combined LTV

Why we like it for USAA members

FourLeaf Federal Credit Union offers a competitive HELOC that military families can rely on to access their home equity affordably. While not exclusive to military members, FourLeaf serves members nationwide and has an easy membership process open to all, making it accessible for veterans, retirees, and active-duty service members seeking an alternative to USAA’s discontinued home equity products.

FourLeaf’s HELOC stands out for its affordability, with no application, origination, or appraisal fees, and flexible repayment terms. Borrowers with strong credit (VantageScore 720 and up) can secure an attractive 12-month introductory rate, followed by a variable rate. Homeowners can borrow up to $1 million, but it’s worth noting that FourLeaf isn’t the fastest option, with funding taking around 45 days on average.

• Affordable terms: Low 12-month introductory rate with no closing costs or fees
• Flexible borrowing limits: Loan amounts from $10,000 to $1 million