Pros and cons of Armed Forces Bank
Pros of Armed Forces Bank:
- Low origination fees well below the national average
- Competitive mortgage rates
- Wide selection of government-backed and conventional loans
- Guaranteed 30-day closing or $1,000 credit
- Support for military borrowers and first responders through Hero Loan program
Cons of Armed Forces Bank:
- Does not publish live mortgage rates online
- Requires contact details to obtain rate quotes
- Limited branch network outside key service areas
- Does not offer promotional rate discounts or closing-cost incentives
Armed Forces Bank mortgage rates
Armed Forces Bank’s 2025 mortgage rates are competitive with national averages, though individual pricing depends on credit score, down payment, and loan type. The bank does not display rates on its website, so borrowers must request a personalized quote. Based on the most recent data, here’s how Armed Forces Bank’s average interest rates compare across common loan programs:
| Loan Type | Average Interest Rate |
| Conventional 30-Year | 6.83% |
| Conventional 15-Year | 5.63% |
| FHA 30-Year | 6.43% |
| VA 30-Year | 6.06% |
Average rate and fee data sourced from public rate and fee records required by the Home Mortgage Disclosure Act (HMDA).
Remember that interest rates vary a lot by customer. Your own rate depends on factors like your credit score, down payment, loan type, and home price.
That means you shouldn’t take average rates (or advertised rates) at face value. Instead, pick three to five lenders you’re interested in and get rate quotes from each one. Then compare the interest rates, closing costs, and other fees you’re offered to see which lender can give you the best deal.
Find your lowest mortgage rate. Start hereArmed Forces Bank mortgage review for 2025
This Armed Forces Bank lender review examines the bank’s complete range of mortgage products, including options for home purchases, refinancing, and home equity. We assessed the lender based on four key criteria: affordability, lending flexibility, trustworthiness, and customer experience.
Armed Forces Bank offers a competitive blend of loan programs with an emphasis on supporting military members, veterans, and community service professionals through its Hero Loan program. Armed Forces Bank keeps its origination and underwriting costs lower than many competitors. Despite its name, the bank isn’t limited to military personnel; any qualified borrower can apply.
Still, borrowers should note that rate transparency is limited. The bank requires contact information to provide detailed pricing, which may frustrate borrowers conducting early research. Despite this, its combination of personal service, responsive loan officers, and guaranteed 30-day closings makes it an appealing choice for buyers who value reliability and efficiency.
Affordability
Armed Forces Bank’s 30-year fixed mortgage rate averages around 6.28%, which is slightly lower than the national average of 6.55%. More notably, its average origination fee of $1,697 is well below the national average of $2,792.34, which gives it a clear advantage with upfront costs.
Thanks to its low fees, Armed Forces Bank scores above average on The Mortgage Reports’ affordability index. Borrowers seeking lower total costs may find meaningful savings here compared to competitors with higher underwriting fees and interest rates. Request a detailed loan estimate to see your full borrowing costs before you lock your rate.
Lending flexibility
Armed Forces Bank offers a diverse range of loan products, including conventional loans, FHA loans, VA loans, jumbo loans, USDA loans, adjustable-rate mortgages (ARMs), and refinancing options. The bank also offers home equity lines of credit (HELOCs) and the Hero Loan program, which is designed for veterans, first responders, teachers, and healthcare professionals.
Conventional loans typically require a credit score of 620 and a minimum down payment of 3%. FHA loans are available to borrowers with credit scores as low as 580 and a 3.5% down payment. Eligible service members can get VA loans with no down payment. Jumbo and HELOC options are also available for larger home purchases or tapping home equity.
Compare your mortgage loan options. Start hereTrustworthiness
Armed Forces Bank holds an A+ rating with the Better Business Bureau and has received few to no mortgage-related complaints with the Consumer Financial Protection Bureau in recent years. These factors suggest a strong record of compliance and responsible lending.
Customer feedback about Armed Forces Bank is mixed. The bank has a Trustpilot rating of 2.5. Some borrowers appreciate the helpfulness of the loan officers and the timely closings, while others have reported issues with communication and difficulty accessing rate information without disclosing personal details. Overall, Armed Forces Bank appears to be a service-oriented lender with a long-standing history in the industry, though borrower experiences vary.
Customer experience
Armed Forces Bank offers an entirely digital mortgage application process, supported by dedicated loan advisors. Borrowers can apply online, obtain preapproval, and track their loan application progress through to closing. The bank guarantees a 30-day closing period and will provide a $1,000 credit if there are any delays on its end.
However, borrowers must provide their contact information to receive rate quotes or detailed loan information, which could be a drawback for those conducting early research. Nevertheless, customers who prefer guided support over self-service tools often rate their experience highly, citing excellent responsiveness and attention to detail.
FAQs about Armed Forces Bank
Time to make a move? Let us find the right mortgage for youArmed Forces Bank provides conventional, FHA, VA, and jumbo loans, as well as HELOCs and refinancing options. Its Hero Loan program waives lender fees, including origination and underwriting costs, for veterans, active-duty personnel, first responders, educators, and healthcare professionals.
You’ll typically need a credit score of 620 and at least 3% down for a conventional loan. FHA loans allow credit scores as low as 580 with a 3.5% down payment, while VA loans often require no down payment for qualified borrowers.
Yes, Armed Forces Bank offers USDA loans that finance up to 100% of a home’s value for eligible rural and suburban buyers. These loans help low- to moderate-income borrowers purchase homes in approved rural areas without a down payment.
You can start by completing the bank’s online application, which takes about 20 minutes. A loan advisor will then reach out to provide personalized guidance, mortgage rate details, and next steps for preapproval.
Armed Forces Bank’s rates are generally competitive, with a 30-year average around 6.28%. Its origination fees are notably low, about $1,697, compared to the national average of $2,792.34. Since the bank doesn’t post live rates, request a quote to confirm your total costs before applying.
Is Armed Forces Bank the best mortgage lender for you?
Armed Forces Bank could be a good option for borrowers who want affordable interest rates, low fees, and responsive customer service. Its Hero Loan program and VA loans are particularly attractive to veterans, first responders, and educators. However, the absence of published rates might discourage those who prefer complete transparency before providing personal information. Nonetheless, the potential for savings and a guaranteed 30-day closing period give the bank a competitive advantage.
If you value low upfront costs and a supportive lending team, Armed Forces Bank delivers a dependable mortgage experience. However, if you’re looking for the best deal via automated rate comparisons or real-time pricing, you may want to compare multiple quotes before applying.
How the Mortgage Reports scored Armed Forces Bank
The Mortgage Reports evaluates and ranks lenders based on four key factors, each weighted to reflect its impact on the borrowing experience.
- Customer experience (20%): Examines the lender’s digital and service accessibility, including the availability of an online pre-approval or pre-qualification process, ease of contact, and the presence of a current rates page on their website.
- Affordability (20%): Assesses the average origination charges and the average interest rate offered by the lender.
- Lending flexibility (40%): Evaluates the lender’s minimum down payment and credit score requirements, as well as the availability of FHA, VA, and USDA loan options.
- Trustworthiness (20%): Measures customer satisfaction and reliability based on Consumer Financial Protection Bureau (CFPB) complaints per 1,000 loans and ratings from reputable third-party review platforms such as Trustpilot.
