As a member of the US armed forces or a veteran, you might find yourself needing a loan to finance some unexpected expense. If that’s you, then seek no further. That’s because here, we have presented the best loans for military members and veterans. This is to ensure that you have something to help you no matter your particular situation.
You can go through these categories serially or you can click through to check up on the ones that may apply to you at the moment:
Now, here we go:
The Best Military Loans In Different Categories – Details
1. Best Auto Loans for Military
Lenders generally treat military members seeking auto loans preferentially compared to their civilian counterparts. For instance, military auto loan applicants generally enjoy lower interest rates and faster approval.
But, there are still better options for military/veteran auto loan applicants out there. The first place I would advise such an auto loan applicant to look is in the direction of military credit unions.
That’s because they already offer perks such as access to auto-financing programs. In this respect, our number one pick is Navy Federal Credit Union which is available to all members of the US armed forces and their family members. Navy Federal can help with auto financing especially when your need has to do with auto repairs.
Other loan options available for military members to finance auto purchases or repairs are:
- LightStream: Click here to see details.
- Avant (auto repairs): Check your options here.
- Wells Fargo (auto purchase/repairs): See military benefits due to SCRA here.
2. Best Debt Consolidation Loans for Military
For the best debt consolidation loan options for US military members and veterans, check the following:
- PenFed Credit Union: See debt consolidation details for PenFed CU here.
- Marcus by Goldmann Sachs: See details here.
- Upgrade: See details and apply here.
- Navy Federal: See Navy Federal debt consolidation calculator here.
- Wells Fargo: See details for Wells Fargo debt consolidation loans for the members of the armed forces here.
- Avant: See details and apply here.
3. Best Car Loans for Military Members
All that applies to the auto loans for military members above also apply here. However, for car-specific loans for military members, we recommend LightStream. That’s because their loan cap of $100,000 is the highest among all the options sampled and can accommodate any kind of car you want to buy.
Another attractive feature of Lightstream car loans for military members and veterans is an APR range of between 5.29% and 19.99% which is one of the best in the car loan industry in the United States available to members of the armed forces. However, an applicant must have a FICO credit score of at least 660 to be eligible for this.
4. Best Business Loans For Military Members and Veterans
For the best big business loans for military members, we recommend Upgrade personal loans which can be put to a wide range of uses including business. It offers a loan cap of $50,000 at between 7.46% and 35.97% APR.
For veterans looking for money for small business financing, they should first look in the direction of the Veteran Assistance agency of the Small Business Administration of the Government of the United States.
5. The Best Loans For Military Spouses
For the best loan options for military spouses and family members, we recommend USAA. See the USAA military spouse resources here.
6. The Best Student Loans For Military Members
For military members seeking student loans either for themselves or members of their families, we recommend Navy Federal. See the current details for Navy Federal student loans for members of the United State’s armed forces here.
7. The Best Loans for Military No Credit Check
Military members and veterans with low credit scores can access loans without FICO credit checks. There are many options out there but the best that we recommend are VA Financial and Military Loans. But, you may expect higher rates than normal with these no-credit-checks loan offers.
The above is what we can offer you as of the time of writing this. Do well to click on the links provided to get the current features and details at the time you are applying. Thank you.