USAA Mortgage Reviews

We are buying and selling at the same time. We were wise enough to stay away from USAA for a mortgage; however, our buyers were not. We began this process in August and we still have not closed! When the end is finally within sight, they screw it up again. We were supposed to be closing this Thursday, but because USAA does not value its customers or veterans (we are both retired military), they have no sense of urgency to make sure everything is done correctly and on time! Do they think a moving company can change their schedule the day before the appointment? Do they know what a pain it is to contact all your utility companies to schedule turn-ons/offs, only to have to call them back...AGAIN...and have to request different dates? Do they know how hard it is to try and schedule off time from work to handle a closing and a move? I guess the better question is: Do they CARE? The answer is NO. I currently only have insurance with USAA, but as soon as this move happens, I will have zero ties to this sorry company!

I am currently going through their nightmare of a process to obtain a MTG from them. This has been the absolute worst experience I have ever experienced in obtaining a loan. I have received multiple emails, each requesting yet another piece of information they need to process my application. This morning I received an email at 1008, requesting yet another document they need. The icing on this slice of cake is, they need this document by noon today to keep my October 11 closing date (which they have extended 4 times due to all their requested crap!). PLEASE! Do not put yourself through the torture and frustration of getting a mortgage loan with this company! Buying a home is supposed to be an exciting, wonderful time, and I'd honestly rather step on a rusty nail and get a tetanus shot every day for the next month than go through this process with them again! RUN AWAY AS FAST AS YOU CAN FROM USAA MTG DEPT!

Spare yourself and don't go to USAA. I have been a loyal customer with them for YEARS. I have had 2 loans, paid off early, and all my accounts and credit cards with USAA. With a 730 credit score, I set out to mortgage through them because I trusted them. We went over my situation all at preapproval time. The Monday before closing (supposed to close that Friday), they tell me they need documents I already turned in. Then, they say I need one more letter from my supervisor stating I work from home and if I can get those things I'll be approved. I get a letter stating verbatim what they want and they still denied the loan because they didn't think it was enough even though it was what they asked for. I have lost HUNDREDS of dollars on this deal and I am an incredibly financially stable contender. USAA will never see business from me ever again.

They have sold our mortgage to Nationstar Mortgage. It's been a year and a half of calls after calls when we have never missed a mortgage payment. My husband fought and defending this country and this is the way you treat our vets.

Stay away.

USAA is apparently supposed to support their veterans, however, they are failing...miserably! My parents are trying to sell their house. The couple buying their house is getting a loan through USAA - BIG mistake! The closing date has been pushed back twice due to numerous people dropping the ball and not making sure that everything is going as planned and ON TIME! My parents are trying to purchase another home, but they keep getting pushed back because of USAA. USAA does not care at all about contract dates and people potentially losing out on houses they've already put money into trying to purchase. USAA, you be ASHAMED of yourself!

I am posting this review on behalf of my Mom. I'm not going to make this a long drawn out thing, but I feel that this review needs to be made. My Father is a Veteran, and my family has been with USAA for years. My Mother has several open lines of credit with USAA, all in good standing. She applied for a mortgage loan, received the pre-approval, approval, and the title company received the closing documents as well. As with any home purchase, she paid for the home inspection and appraisal. The walkthrough was scheduled for 6:00 pm on 8/27/19, and closing at 9:00 am, 8/28/19.

At 5:19 pm on 8/27, my Mother received a call from an unidentified individual, informing her that the loan was denied! AGAIN THE CLOSING WAS SCHEDULED FOR 9:00 AM THE NEXT DAY! We have NEVER dealt with such an unprofessional, and abhorrent company. My Mother luckily had not yet sold her home, and therefore had a place to go, but a quick Google search will reveal that USAA has done this too many others, who weren't so lucky.

RUN, DO NOT WALK AWAY FROM THIS SO CALLED COMPANY. Do yourself a favor and check out GSF Mortgage, this is the company that carries my husband and I's mortgage, and THEY know how to treat their customers.

I began contacting USAA for information on refinancing our mortgage loan to a VA loan. My husband and I spoke to Tom Cisneros (210) 443-6844. Our inquiry about the loan went from just information completing an application online and authorizing USAA to review our credit report. We discussed our income our debts, and the reason for the refinance. We had mentioned that we were not going to be in town due to a planned vacation and wanted to take care of everything before we left on 6/21/219. After providing all the information over the phone, I was to wait for a call from a person who arranged home appraisals at a cost of $600 with no refund. At any point during the conversation did Mr. Cisneros mentioned a required minimum credit score for a VA loan and when provided our estimated score, we were never told "your score does not meet the VA requirements." However, we did authorize access to our scores. We also received preliminary loan documents with an estimated interest rate for a 30-day period.

Mr. Cisneros called me a couple of days later and talked about someone named Henry about scheduling the appraisal and he said are you sure you want to do this, and not knowing that we did not meet VA requirements, we felt that we must be in a good place to proceed so we did and paid $600 for the appraisal.

Again, never did Mr. Cisneros or the Loan Processor assigned to our application, Lakyma Taylor questioned our credit score as being an issue. I provided Ms. Taylor with a list of documents needed as part of the loan application. The final document requested was a termite inspection and invoice...After that conversation, and not getting information that we may not qualify, I scheduled the termite inspection and work at a cost of $1500. A couple of days later I emailed Ms. Taylor with the inspection report and invoice. A couple of days later I received a call from Ms. Taylor informing me that the loan would not go through because of our credit score not meeting VA requirements of 700 and that we were short 1 point. I pleaded with her to speak to the reviewers about our situation since we were never told this and had invested so much money already.

She said she would check but did not think it would change. Conversations were all recorded by USAA.

We feel very disrespected and not valued as a customer because of this treatment that was irresponsible, careless, and could have been prevented had someone said something about our qualifications, we would have thanked them and move forward. But after the cost of $2,100 investment on an application that USAA loan processor was aware I am disappointed, angry and do not recommend USAA for any type of business. I email CEO Stuart Parker on 621/2019 and cc Mr. Cisneros, his supervisor Mr. Struve, Ms. Taylor and her supervisor Ms. Montgomery; all which never replied to my email. I called Mr. Cisneros once more on 6/21 before we left on our vacation. Upon our return, in our mail we found two letters that were pre-generated one addressed to my husband Paul Mahoney and one to me stating the reason for not qualifying.

Again, this has been a horrible experience, and I am still waiting for a call back regarding our loan application and the cost incurred by the irresponsible and mediocre service to customers and that we received!

I have been a USAA member for 10 years and after this mortgage process, I will be dumping all my accounts with them.

The process is long, laborious, and they blow you off when you have questions. I had two loan processors and couldn’t ever get a hold of them. None of them read the offer or the addendums. They asked me for every document short of a blood test and gave vague instructions that didn’t make sense, and of course not one of MY loan processors were available to answer any questions.

The tedious confusing process I put up with but the thing that put me over was the no contact for two weeks then I get 7 phone calls in one day demanding the money for an inspection immediately or loan application is terminated.

Now we get toward closing, they didn’t read the addendum for replacing the septic system, now they are shaking me down for $600 to "lock in my rate" or "reapply and start (this B.S. process) over again."

I’m probably going through with it because I don’t have time to find another lender.

Do not waste your time or money with this company.

Absolutely awful customer service. Never able to actually talk to a real live person on the phone. On hold FOREVER and when finally get a person, they do not know what they are talking about. AND their interest rates are NOT good at all! NEVER again!

Our experience with USAA Mortgage can be summed up with the phrase "bait and switch." We gave them our income information and they told us we pre-qualified for a conventional loan. Come to find out, they were looking at the VA loan requirements and not the conventional loan requirements. We didn't actually qualify for a conventional loan. This meant we needed to start a new application with a co-signer. The new application meant they had to run our credit again, which lowered our credit score, causing us to get a worse interest rate. We had already done an appraisal (and paid for it) with the original application, but starting the new application meant we had to pay for the appraisal again. They promised that this was a formality and that they would reimburse us. We have yet to receive that $595 reimbursement. They also told us that only one of the applicants on the loan had to be at closing and the others could sign from afar. A few days before closing they told us that we all had to be there or pay $150/person to get power of attorney. We made big decisions based on their incorrect information. Their mistakes cost us hundreds of dollars and they did nothing to make it right or to take responsibility for their mistakes.

Furthermore, the communication was overall inconsistent and confusing. Sometimes they'd call or email me, other times my husband, other times both of us. We got so many versions of different documents we had no idea which was the right one. When we'd call or email to ask questions, oftentimes our questions went unanswered. We are loyal USAA members and have absolutely loved our experience with their banking (we do our checking/savings with them), car insurance, and renter's insurance. However, we were extremely disappointed with the mortgage department and are looking forward to refinancing with a different company as soon as possible.

Protect yourself by not accepting an offer on your property if USAA is the lender. They are irresponsible and will not communicate with anyone. I have never dealt with such incompetence. The way they have handled the closing of my home is unacceptable. Two closings canceled at the last minute without warning. I’ve lost thousands of dollars due to their lack of attention. While I’m not a USAA member, my husband is a veteran and they couldn’t care less about the hardship this delay is causing our family as well as the buyers.