USAA Mortgage Reviews

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.

USAA is a horrible company to do business with. I have been with this company for about 30+ years and it appears to be time to withdraw all my investments and go with another financial services company for all of my needs because their level of service just keeps dropping and dropping and dropping. I have noticed this over the past 2 decades. Their service started to go down when they opened their member enrollment to military non-officers, and it just keeps getting worse, and worse, and worse. It appears to me that they are now all and only about turning a profit, rather than assisting their members with their financial needs. I used to recommend USAA to all my family and friends but my advice is to now go with another company, or companies.

I went to USAA Mortgage services to apply for another mortgage. I have one prior mortgage with USAA a few years ago. No problems back then. I never missed a payment or had any insurance claims. I applied for another mortgage and the experience was beyond ridiculous and outright farcical. Never have I had such an incompetent and angering experience. After four days of finding out if I qualified as by USAA rules as given to me months ago. By their rules, I did (or so I thought so). I couldn't get a straight answer from any rep and those who said they would call didn't.

So I went online and did my research. It would seem the mortgage division had been sold off to a failing bank. My suspicion is graft and old boy network. Who knows, but it stinks. I went to Rocket Mortgage who were extremely professional and gave me the best banking service I can remember. They had me qualified within 20 minutes and gave me forthright info on how to best service my own mortgage. Refreshing, to say the least.

All I can say is, take no notice of the ads on TV, they really don't care about veterans, it's all about the almighty buck, nothing more. The failing bank that took over USAA Mortgage services has brought all their problems and mismanagement that obviously plagued them in the first place. I see nothing but trouble ahead for anyone who manages to obtain a mortgage from USAA. Run as far and fast as possible. USAA Mortgage has become infantile, unprofessional, and outright lazy. In other words, THEY SUCK!

I tell everyone to avoid USAA Mortgage. I have had two mortgages through them, and both experiences were terrible. I am in the process of an assumption with the second mortgage, and it has also been an extremely frustrating experience. They constantly lost documents that I had submitted and then extended the processing time because of said missing documents. I signed the contract for house #2 in November 2013 and didn't close until April 2014. The original closing date was in December 2013. Thankfully the sellers were very understanding and allowed us to sign multiple contracts updating the closing date.

With the assumption, each time I call for an update, I get a different answer. One person will say that the assumption is approved and will be finalized within 30-60 days, and a week later a different representative will tell me it takes up to a year.

I used a local bank for mortgage #3 and did not have any issues. I am refinancing house #1 through MyVeteransUnited, and haven't had any issues there either. I will NEVER use USAA Mortgage again, even if they are the cheapest option. It's not worth having to deal with the incompetence.

Have been working with a USAA lender. The original call was specific. Myself and my dad on the same loan for a home as co-borrowers/co-owners. He would move to Oregon right after closing. After the initial call, we conversed via email only (except when I called in the end).

In the email, it was summarized. I live in Oregon, my dad in Texas, and as soon as we got a house he would be moving to Oregon and that I had no place for him until then. On the initial call, this was fine.

As soon as we started delving into the particulars of the loan, i.e. DTI, income, school loans etc., things started changing.

It was an act of Congress to simply get my question of "if you don't have pmi then who pays that PMI? Does my interest rate increase?" That took almost two weeks to answer. That in itself raised a red flag on timeliness and transparency.

Then right before we went to pull credit, the news was sprung on me that only my income would be counted, not my dad's. "Why would we co borrow if his income wasn't counted?" "Well, so you both could be on the loan" was the answer. Why put someone on the loan when you weren't counting his income and why run his credit when he wasn't going to be listed as a true co-borrower, not a cosigner.

Then the whammy answer, "we cannot include your dad on the loan because he won't be living in Oregon at time of close." "Well, didn't we go over this in the beginning?" "Yes, but I looked into our policy further and he must live in Oregon."

At this point, I strongly said "you do not pull my credit."

I called and pretended I was a new potential client and was told that without my USAA number they could not help me or give me answers for a potential home loan.

Yeah, you know what, screw this, some other lender has my home loan now, with my dad as co-borrower, co-owner and we close on Memorial weekend, and in September, he moves to Oregon.

This experience has made me shy away from having any of my accounts with USAA to include my auto insurance, in which they told me that since I got a speeding ticket of less than 10 mph over the limit that I lose all discounts for 5 years. The only ticket in many, many years! They also did this more than a year after my ticket.

Their insurance is now a $92 increase a month. I pay more than $200 a month for one car, one ticket, good credit.

I've always liked USAA but now, between bad home lending information, timeliness on answers, changing answers and now the auto insurance, I'm walking away.

Just closed my VA loan with USAA and the experience was smooth as glass. If you have all of the information in order and don’t require any special treatment, a VA loan via USAA is the way to go.

I am still in the process of attempting to close on my refinance through USAA. It's been 2 months now, with USAA continually putting their hand out for more money to extend the rate lock.

At the beginning, they sent me a list of services I could shop for, one being a title company. I specified a local title company at the very beginning, but USAA did not honor my request and instead selected their own third-party vendor. I paid $525 up front for an appraiser of their choosing. My home appraised for double the amount we are seeking to borrow, but they wanted a new survey and required me to parcel a portion of my land because my 90-year-old mother lives in a mobile home on the property. This caused a delay and resulted in three extensions for the rate lock at $148 each, plus $1299 to the surveyors.

Additionally, they required me to put a railing around the deck on my home for a deck that is maybe 2 feet off the ground. That cost me an additional $500 in materials. Then, their closing agent/title company required a new inspection to make sure the repair was done. We were on track to close last Friday until the closing agent decided they wanted a new appraisal because we parceled 4/10 of an acre.

But, the absolute worst thing they did was lie to me and say that the original appraiser was out of his office for an extended period of time and the only other appraiser they could find could not come out for 2 weeks and it would cost me $900 for a new appraisal. I had the phone number for my original appraiser and personally called him. Surprise! He was willing to come the following day and called his contact with the 3rd party vendor to request the work order.

USAA attempted to continue their deception by declaring they were able to get my appraiser the next day. I quickly corrected the processor on this and demanded to speak with the supervisor. Of course, the response has been unsatisfactory, and they continue to insist they have acted within the confines of the law. However, it will cost me an additional $148 to extend the rate lock an additional week.

USAA is bleeding me dry, and if I hadn't already sunk so much time and money into it, I would pull the plug on the whole deal. I've already made it clear this is absolutely the last time I extend even though interest rates have already gone up and I am considering backing out of it anyway and going to a small local bank. I absolutely would NEVER go with USAA again.

I have a mortgage with USAA that requires an escrow for taxes and insurance. I also have a son with leukemia, and for that I need flexibility at times with my bills. I called them in hopes of getting overage in my escrow account paid to my loans principle and reassessing my mortgage payments. Not a huge difference in my monthly payment, but sometimes an extra 50-75 dollars a month DOES make a difference in hard times. I have always paid my creditors on time and want to continue to do so even with my son's leukemia.

I found out they paid my taxes and will not pay my insurance even though it is also through them until the end of the year (about 35 days from now). I have requested that they pay my insurance early and apply any remaining overage in my escrow to my mortgage principle to reduce my monthly payments once applied and re-evaluated. They will NOT pay my insurance early or reassess my monthly payment until 12/31/17.

n their decision, people are screwed over by paying more than they would have to in interest and monthly payments than if they had done as I requested. It seems they are more interested in screwing customers over and making extra money than helping them continue to afford their mortgage in rough times.