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USAA is The American Legion's preferred provider of financial services. Offering a range of top-rated financial and insurance products and services. USAA welcomes honorably discharged U.S. military veterans, active-duty troops and qualified family members and descendants of those who have served. USAA contributes funds to American Legion programs when members join through a dedicated channel: or by calling toll-free at 1-877-699-2654.

Financial Questions & Answers

Financial Questions & Answers


I filed one year ago for bankruptcy. When will I be able to use my certificate of eligibility to refinance my house at a lower rate? – Otis


With such a recent bankruptcy, we’d be surprised if you’re able to refinance at all. While you can check with lenders, we’d guess about two years would have to pass before you’d have a shot at being able to refinance – even with a Veterans Affairs Home Loan. Some folks may not realize it, but good credit management definitely matters when applying for a VA loan. Make sure you manage your credit responsibly moving forward (on-time payments, low balances, don’t apply for new credit unless absolutely necessary, etc.). See FICO’s education page ( for more information. The good news is that it doesn’t look like interest rates are going up anytime soon.