Does USAA plan to bring back Home Equity Loans/LOC's in the future? It will be several years before I even start planning to do any work to my home but I'm just debating whethere I should open an account at my local credit union so I can access and apply for their home equity products or should I wait for USAA to bring them back. I would like to keep most things with USAA so I don't have to worry about dealing with multiple companies.
I also would like to know why USAA discontinued home equity products? Did it have to do with the former state of the housing market or the financial crisis. Other banks and credit unions kept their home equity products active and available, why didn't USAA? I also read that USAA faired exceptionally well through both financial predicaments. What possessed USAA to discontinue thier home equity products?
Hello @Ic1245, at this time we would not be able to confirm if we will start processing new Home Equity Loans in the future. You would have to check back when you are ready to process this loan to see if at that time we are offering this product.
In regards to the reasoning why these loans are no longer offered, please call us at 800-531-8722 and speak to our loan department. Thanks! -Colleen