Best USAA Home Equity Loan and HELOC Alternatives for Military Members

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.

• 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

Bethpage 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, Bethpage 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.

Bethpage’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 Bethpage 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

Why we like it for USAA members

LendingTree offers a valuable marketplace solution for military families who want to compare multiple home equity loan and HELOC options. While it’s not military-specific, LendingTree’s platform makes it easy to find competitive rates and terms tailored to individual needs, filling the gap left by USAA’s discontinued home equity products.

With access to a wide network of lenders, LendingTree lets you compare HELOCs and home equity loans with competitive rates. Borrowers can secure up to $2 million, depending on their home equity. The platform allows users to evaluate various options based on rates, draw periods, and repayment terms, making it ideal for military families who want to explore multiple lenders without the legwork.

• Wide network: Compare lenders offering loans from $10,000 to $2 million
• Flexible terms: Draw periods from two to 20 years with customizable repayment options
• Convenience: Online application simplifies the process of finding the right lender