Armed Forces Bank Review
See how often this lender's Bankrate auction price beats comparable loans from 2025.
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This lender is a Bankrate Auction Participant, meaning we verify their offer authenticity and hold them to high standards to ensure you get the best possible rate offer.
How Bankrate scores Armed Forces Bank
- Price competitiveness
How often this lender's borrowers pay at or below the typical price for a comparable loan.
5 out of 5 - Amount of overpayment
How much extra borrowers ended up paying with this lender compared to the best price for a comparable loan. A higher percentile score is always better.
5 out of 5 - Customer complaints
How often consumers complain about this lender, and whether they get relief.
Clean5 out of 5 - Where and what they lend
How many states and loan types this lender serves.
96%5 out of 5
No lender can pay for a higher Bankrate Rating. Every score comes from the same data and criteria.
2025 ratings, across all four measures
A few more details worth knowing
Though these don't affect the star rating, we show them so you have the full picture.
For applicants age 62 and older, we measure two things: whether this lender denies them more often than its own lending patterns would predict after accounting for loan size, income, debt-to-income ratio, and loan type; and whether it lends to them at rates similar to comparable lenders. Both of those measures fell outside the expected range. Credit scores are not available in this dataset, so they are not included in the analysis. Because that variable is held constant across all lenders, it should reduce the extent to which missing credit-score data affects comparisons between them.
We looked at how often a lender's applications end up as closed loans, not counting any that were denied or the applicant withdrew. At this lender, at least 95% did, which might mean quoted terms held up, applicants were well qualified, or both.
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What Bankrate's editors think
Armed Forces Bank has served military families since 1907, but its Hero Loan program extends the same no-origination-fee treatment beyond the military to law enforcement, firefighters and EMTs, K-12 educators and registered nurses. Borrowers on any of those loans pay only third-party closing costs, with a dedicated loan advisor throughout.
Because it holds VA Automatic Approval status, Armed Forces Bank can close VA loans without waiting on VA sign-off. It also guarantees an on-time close or pays $1,000 at closing.
About 76% of Armed Forces Bank’s mortgages were priced below comparable 2025 loans, and lands in the second-cheapest fifth of lenders that Bankrate reviews when considering excess costs over eight years. It closes about 99% of approved loans and lends across 36 states.
At a glance
Good for military members, veterans, law enforcement, firefighters, EMTs, educators and nurses who qualify for its fee-waived Hero Loan program. Not a good fit for general civilian buyers outside those groups, who’d pay standard lender fees and miss the program’s biggest perk.
What consumers say
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Figures are drawn from public lending and complaint data and weighted by loan volume.
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