3.0
6 reviews
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USAA Mortgage

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USAA Mortgage
 
3.0

(based on 6 reviews)

Ratings Distribution

  • 5 Stars

     

    (3)

  • 4 Stars

     

    (0)

  • 3 Stars

     

    (0)

  • 2 Stars

     

    (0)

  • 1 Stars

     

    (3)

50%

of respondents would recommend this to a friend.

Pros

No Pros

Cons

No Cons

Best Uses

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Reviewed by 6 customers

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1.0

Lied to me about preapproval amount then denied me

By 

from USA

Comments about USAA Mortgage:

USAA told me I was preapproved at $180K for a home loan. I found a home for $160,500 and paid $625 in inspection fees, then was told I my debt to income ratio was too high. When I asked about the $180k preapproval they said they had my income higher in the beginning and to have a nice day. That was it. Screwed me out of $625.

Customer Service
Failed to add and subtract basic numbers correctly

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5.0

PERFECT COMPANY

By 

from Wesley Chapel, FL

Comments about USAA Mortgage:

We had our first and second mortgage with USAA when we built our home in 2006. They were excellent to deal with from the minute we applied up until closing. We were able to see the progress of our loan online at anytime, or simply call and get any questions answered. It took 8 months for our home to be built, and I was nervous about the closing procedure. I had heard nightmares about mortgage companies dragging their feet with closing and funding the loan.
Our closing agent assured us that we had nothing to worry about since we were financing with USAA. She told us they were the best and always fund the loan hours in advance of closing. We were scheduled to close at 7:00, my husband works midnight's so we wanted to do it right when he got off of work. USAA had the loan funded the night before and we had no issues with closing. They were fantastic!

Customer Service
I have been a USAA customer for 15 years now, and I have to say they have the best customer service around.

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5.0

USAA is Outstanding

By 

from Saint Anne, IL

Comments about USAA Mortgage:

USAA is a company that exhibits integrity and professional service to their customers. USAA is a company geared towards the military service personnel. Active duty and retirees. They offer an extensive line of services to include: checking, savings, loans, credit cards, insurance, investment managing, financial planning. If you have a need the quality staff at USAA will work with you until your situation is resolved. Every year the company shares a portion of their profits with their members. A nice added bonus to a customers account.

Customer Service
The staff at USAA is of the highest caliber of individuals. Friendly, helpful, knowledgeable and courteous. Always a pleasure doing business with the staff at USAA.

Types/Options
USAA is equipped to handle all your financial needs. Excellent coverage for your home and vehicle with reasonable rates. Lots of customer discounts for being a long time member. The company handles and processes claims quickly and efficiently.

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(1 of 1 customers found this review helpful)

 
1.0

Can't Trust Their Pre-Approval

By 

from USA

Comments about USAA Mortgage:

A couple with pre-approval from USAA mortgage for $140,000 put an offer of $135,000 on the home I am selling. After 6 weeks, an inspection, and an appraisal the buyers received a rejection letter stating their income is not sufficient for the amount requested for the mortgage 8 days before closing. Our deal fell apart...difficult for the buyers who had paid for the inspection & VA appraisal, more difficult for us who wasted 6 weeks, didn't get to keep any earnest money, paid a contractor a non-refundable deposit on work the buyers wanted done, missed out on another buyer who called our agent 3 times during the above process, and will now need to pay to extend a contract for staging furniture. The reason given to the buyers is that they would not include the wife's part-time income when determining whether or not they could afford the mortgage. Why not? It is part of their income. USAA even told them they would get the loan if they could include her income. So, if they weren't going to be able to count that income to get the loan, why use it to give them pre-approval. Sellers beware...pre-approval from USAA doesn't mean much!

Customer Service
Lender would not speak to my realtor to explain what happened.

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1.0

Run as fast as you can!

By 

from USA

Comments about USAA Mortgage:

We began to have problems with them during the purchase of our first home in 09. We had been pre approved,and began our home loan application. Like stated before by others we had to jump through hoops on everything. finally it's closing time and out of no where we are blindsided by usaa telling us they screwed up and that we would have to pay over $3000 due to some papers not beings sent to the title company on time???!!! It was pay or lose the house so we payed,causing us a bit of hardship! Now fast forward to 2012, talking insurance deductibles with a coworker we found we were over paying by double! ???? Double??? That's right double! I have a perfect driving record the person I compared quotes with was the same age lived in the same area etc. the only difference was he drove a new vet while I drive a Buick..... I called my coworkers company and sure enough more than half the price for the same coverage. Still trying to be a loyal usaa customer I called and inquired if they would match. The agent told me to fax the quote and yes they would,so that is what I did. I received a call about 1hour later telling me that yes it is the same amount of coverage but no they will not honor the quote. The explanation being I have to pay extra for good service. Really? What do I get as a customer for loyalty and a clean record? I should have taken the sign however I didn't. Obviously I did switch my insurance company wrote it off and moved on. I recently sold my home to upgrade to a bigger home to accommodate for my growing family. I found a pre authorised short sale that fit the bill. I call usaa for a pre authorised approval letter bid and went under contract on the home. The next day I call to formally begin the application. The young man I spoke with used high pressure tactics and flat out lying to pressure me into locking my rate. I was concerned with the closing date he provided and told him I didn't expect to close so soon, I asked what would happen if we didn't close by the date and was told not to worry nothing would happen,that as a loyal usaa customer I would be taken care of. This could not be further from the truth! I was told my closing costs would be estimated at about $3000 yet as we progressed it hit double! Like others they told us they would not approve the loan unless we satisfied a negative account on our credit even though we were in the process of fighting the account due to the companies complete disregard to the soldiers and sailors act. We sat on our pride and settled the account for the better of our family. We were asked to give them a letter explaining inquiries into our credit..however the inquiries were from them and were for the mortgage! Everything took longer since we constitutionally had to resend information that we had already sent. After 3 weeks of running around we were conditionally approved based on the acceptance letter from the short sale. We sighed in relief to soon! As I stated we we told there would be no negative impact if we went past the set close date this was not the case. First we were told that after the close date our rate would expire and that we would have to pay $206 every 15 days including holidays( which for us was ,thanksgiving,Christmas,and new years)mind you my processor was not even working for 2 weeks of this. After arguing the fact that I had never been told this information and eventually their listening to the audio from my application they agreed to give us 1 extension on them which catches us up to today's whammy. I just received a call from my processor telling us that once again they have screwed up and yet it again we are the ones to suffer for it. Mind you it has only been 2 months since we went under contract to purchase the home however the bank is sick of waiting on us to close and so they call to threaten me with the information that this is the last extension they will be giving us period. If we do not have the approval letter and close by the 15 days they will not approve our loan and we will have to reapply in 30 days!!!!!!!!! Is this how a company is supposed to treat its loyal customer, with lies, threats, and disregard? I might be more understanding if they had been waiting for 6+ months however that is not the case. As of today it has been 64 days exactly most of those days being through the holidays. Due to their disregard we will have to start over again displacing my family that much longer in a dirty weekly rate hotel in las Vegas ,I'm sure that is more than enough visual for most. We will not be applying again with them and have really been disappointed in the way we have been treated and the negative position they have
put us in.

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5.0

They best company ever!

By 

from USA

Comments about USAA Mortgage:

I love this company! We have been banking with them for 8 years and have loved every minute of it. They provide great customer service. The rates they offered were way lower then the other two banks that we were members of. We were turned down on a personal loan from a local bank. We went to Usaa and they wired the money in the next day.

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