USAA is a private financial company focused on providing financial products to the US military community. USAA offers a full range of mortgage loan products, including VA loans and convention mortgage loans for both mortgage refinance and home purchase loans. USAA mortgage loans, however, is only available to USAA members only. To become a member, consumers must be affiliated with the US military.
Headquarters: San Antonio, TX Website: www.usaa.com
USAA is great mortgage loan option for those in the military. USAA provides many loan options from conventional mortgage loans such as a 30 year or 15 year fixed to VA and jumbo loans. USAA has a helpful customer service team that is able to answer various mortgage related questions. USAA also offers the ability to get a guaranteed closing date or they will reduce the closing cost up to $500.
|Pros:||Great Rates And Customer Service|
|Cons:||Must Be Affiliated With The Military To Get Membership|
Reviews & Ratings
Lebanon, MO | October 30, 2013
I'm a senior citizen, retired military that belonged to USAA for over 40 years. My credit rating range was 824-830 with an annual income exceeding $150,000. For the first time in my life,I was turned down on a loan while trying to refinance my home. The effort took nearly two months while I provided countless documents, W-2's, 1099's, entire Living Trust doc. I then applied at Navy Federal Credit Union and it took less than 3 weeks to secure a 2.65% loan at a better rate. The service was terrible.
Applying for a home loan.
Clarksville, TN | September 18, 2013
It was a nightmare dealing w/ mortgage department. We've been USAA customer for more than 10 yrs. and we finance our first home with them and now trying to get a new one but it was horrible. Our loan officer Mr. Ochor Arunsi and his boss Janice Martucci,jjerking us around if we're approve or not for the loan and asking too many documents and once they have all the documents they needed we didn't heard from them until the next week and now we indeed not approved.We are devastated!Never do again!We closing
Bad at mortgages, very good at the rest.
Cheyenne, WY | August 31, 2013
I've been with USAA for over 20 years. But no mortgages. When buying my first home they would only approve me for 20,000. I was approved by a lender I can't stand for 100K more. I figured they must be extremely conservative when it comes to lending. After reading the comments, perhaps they just should not be in the mortgage business. However when it comes to all types of insurance, and personal banking they have always been very good to me and my family. I would highly recommend them for these services.
Horrible refi experience
Smithville, TX | August 30, 2013
I am a 20+ yr. member of USAA and a vet. In March 2013, I applied to USAA to refi our 80-20 mortgages held by other lenders. Today, nearly six MONTHS later, the refi was finally completed (I hope - I've thought this before only to find out it still wasn't true). The first time, they sent loan paperwork to us to sign, it was completed incorrectly and would have given USAA a mortgage on a tract of land adjoining our home that we own free and clear! Fortunately, the notary and my husband, an oil & gas l
Mortage underwriting and Processors
August 20, 2013
We have a credit score of almost 800, for 2 and 1/2 months we have provided jumped thru hoop after hoop providing documents and now they have the nerve to tell me to extend the date they way an additional 160.00 dollars, NO WAY NO HOW, Run from these people as fast as you can
Clarksville, TN | August 16, 2013
USAA Mortgage Department has ruined my contract...approved the loan over a month ago...one week before closing they are denying the financing...appraisal done, inspection done, sellers driving Uhaul to GA with the whole house in it...everyone's just waiting on USAA to give us the green light and they send a denial instead. Hoping a local lender can save the deal. You owe it to yourself to read the USAA reviews online. They can only muster a 3/5 on their own site, moderated by them. HA! What a joke!!!
Tucson, AZ | April 20, 2013
Refinanced home, no problems until after closing. Took 6 weeks to pay off old loan, paid interest on both loans for 6 weeks yet no one seems to know how to resolve? Now got "late" payment phone call, turns out I owed a payment 5 days after my old loan was paid off. Still no one knows what to do or how to do it. They and their agents are totally lost and incompetent. I am over 60 and have financed literally dozens of homes, never had this many problems or spent this many hours trying to fix them.
North Las Vegas, NV | February 14, 2013
I have been doing most of my banking through USAA for over 6 years. I applied for a pre-approval for a loan back in 1/24/13 and was approved. I called them back to extend the pre-approval not even a month later and it was denied. They stated they couldn't even approve me for more than 80,000 even through my original pre-approval was 185,000. I spent over 6 hours on the phone dealing with them and no one could provide me with a reason why. I went to Veterans United and was approved in minutes!
Not the USAA you know
Chula Vista, CA | September 23, 2012
I wrote on USAA's webpage about a month ago how dissatisfied I was With their mortgage service. I removed that post when I received a phone call thinking they were going to make it right, they did not. The entire process is absolutely horrible. I would suggest anyone going to refinance To go through Navy Federal Credit Union. They have better rates and they are much faster processing your loan. USAA bounced me around from different people and never closed the loan. Thanks NFCU for closing me.
Almost a scam... long time USAA customer
Yulee, FL | September 07, 2012
I love just about every USAA product they offer. we compared USAA to several other companies. Although USAA was a bit high rate and fees the USAA rep talked us into it by telling us it was easier to get a loan since we had a long relationship, that my loan would never be sold, and i could always access it with my usaa account among other options. All lies Loan was extremely stressful compared to me last mortgage. The loan was sold within a week. All negative reviews were deleted from usaa,com.
USAA - not in your best interest
Austin, TX | April 20, 2012
We were suppose to close on our mortgage in 12 days. We were pre approved took all the right steps and b/c I did not have a 3rd credit card they denied me at the last minute. They are no longer they company the use to be and continue running their customers around. They are the perfect recipe for disaster and should be reprimanded for their horrible business practices. I will never use them again. B/c of this incident all of my family members will be taking their business else were as well.
A total disaster
Pensacola, FL | April 18, 2012
We are trying to close on a loan tomorrow and were just called to inform us that we have been denied! They have had the package for over a month and the processor has been saying everything is good. We are back to underwriting this afternoon and waiting after I had to to get the Executive Resolution Team involved. Come to find out that the loan processor totally disregarded some information that was totally incorrect and did not even bother to review or ask any questions! I will NEVER use them again!
Poor Service From Procrssor KG
Bronx, NY | April 04, 2012
I have been banking with USAA for at least a year and have been very happy with them. In fact i brag about the quailty customer service, so with that said it was a no brainer to go with USAA for our mortage. BIG MISTAKE.... Our processor, I wont say her name but her initials are KG and need i say she is the WORST..KG is not responsive at all, she barley answers her phone not to mention NEVER EVER calls back when she says she will. She must have requested the same docs at least 3 times.Hello..read your email
Horrible communication -- you get the run around with different processors
February 18, 2012
Usaa has been satisfactory for all other services. After a 2 months of saying everything is good on a purchase, they decline it on the day before COE. The reason? Something disclosed at the very beginning -- no surprises from me. I went through 4 different people throughout the process. I always had to leave voicemails but never got call backs. They are entitled to decide whether or not to lend money. What is horrible is that they should have disclosed the issue at the beginning. Not after wasting two months
Travis Afb, CA | January 16, 2012
USAA doesn't have the best interest of the military member. My spouse and I are both AD and have tried to shortsale our house twice but USAA has ridiculous requirements and wants to stick it to us. I'm ashamed they clam to be there for us military all they have done for me is give me headaches and stress. My advice DO NOT secure a loan with them...you will regret it if ever you need their help.
New Mortgage Attempt
Fayetteville, TN | January 13, 2012
I am in the process of attempting to get a new VA mortgage loan with USAA. My representative is not responsive at all!!!She never answers her phone or returns calls. She completely ignores my emails. When I complained she informed me that I was sending my emails too early in the morning. She said she don't come to work until 9 AM! According to her, I need to submit a "special" VA form but she has no idea how/where I can get it. I think I have made a grave mistake.
Can't I give zero stars?
Grand Junction, CO | October 05, 2011
I love USAA banking and insurance. I've never had a problem with them until this mortgage. Communication is nearly non existent. The processor called only after I included his manager on an email asking that he return my calls. Now, the day before scheduled closing, USAA says they need more info, they need documents I've already sent, and may not close on time. Bull! Terrible service. Untimely, inadequate communication. I will never, ever use USAA for a loan again.
Cheektowaga, NY | September 28, 2011
This company needs help. They are un-organized, offer lousy customer service and caused a long delay in a military family's homecoming. STAY AWAY.
Don't Waste Your Time!
Narragansett, RI | September 27, 2011
USAA Mortgage will give you the run around and won't fund your loan or refinance in the end.
Best Experience Ever
Macon, GA | August 02, 2011
We've been USAA members for 40+ years and found the refi to be simple and quick. The application process by telephone saved valuable time. They locked our rate for 60 days which we had not expected. The appraiser sent to our home was thorough and professional. The closing attorney came to our home with all the papers ready and extra copies if we messed anything up. Andy, our USAA contact was helpful, and told us exactly what to expect and when. Closing went smoothly and the we couldn't be happier.
Does anyone know what they're doing at USAA Mortgage?
Vineland City, NJ | July 07, 2011
I cannot understand how unorganized and unprofessional the mortgage department at USAA mortgage is. There isn't enough space to list all my frustrations. I was continuosly asked for forms that I submitted several times. I received packages with specific instructions on how to complete forms, however when I called the rep to clarify key points, a completely different set of expectations and instructions were provided. Furthermore, USAA repeatedly required last-minute forms/statements to be sent DURING the closing. I don't think USAA knows how to originate a mortgage loan.
Saint Robert, MO | July 06, 2011
I spoke to 2 different representatives concerning a VA Streamline. One stated I didn't need an appraisal. The second representative stated I did. No appraisal or credit underwriting package is required by VA. However USAA wants one. Depending on who your current mortgage company is, determines if an appraisal is needed by USAA. Doesn't seem fair to me, considering the appraisal fee would come out of my pocket.
Dallas, TX | June 24, 2011
This company is a joke - worst customer service ever!!! Very rude... poor attitudes
Worst lender ever
Oxnard, CA | June 09, 2011
Horrible customer service at mortgage department. Never return calls, don't know what they are doing - NEVER EVER AGAIN. We are now refinancing with different lender after JUST 6 MONTHS because we are stuck with the PMI even though we paid off 20%. With all other lenders you get rid of the PMI but not USAA - we still have to pay $50/month PMI for 5 more years!!! We tried everything, but apparently our value declined too much according to THEIR appraiser that did not even look at our house himself! SCAM!!!
Horrible Service by USAA Mortgage
Ogden, KS | May 09, 2011
Calls are never returned by USAA, e mail remain unanswered, very unfriendly and incompetent. It was definitely a big mistake to choose USAA for our mortgage. We really liked insurance and banking with them but stay clear of their mortgage unit.
Usaa has shown gender bias in loans
Antioch, IL | January 22, 2011
My daudgter and her husband were pre approved for 215000 to buy there dream home.She is in the Air Force and is the primary on the loan. Being military has meant her husband has had a few jobs over the last few years including one in Japan.He was able to find a job in Denver but last mont was lucky enough to find a great job that now takes their income to the 99000 mark. Now usaa has backed out on the day of closing saying her husband need to be in the same type of work for two years.
Lakeside, TX | December 29, 2011
What the heck does that have to do with gender? Since both of their incomes are being used for the loan both members job stability has to be measured. The underwriter obviously didnt think he was stable enough to hold down a job. Whether it was merited or not, it had nothing to do with gender.
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