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.
Bottom Line: No, I would not recommend this to a friend
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