16 Days before closing USAA back's out!! WHAT!!! Find another Lender to use!!

My wife and I are first time home buyers. I’ve been a member of USAA for 12+ years. Why would I trust anyone else with my home loan right?? WRONG!! My agent told me I shouldn’t use USAA because she always has problems with buyers using them…but I didn’t listen.


Everything was going good. I worked hard for 2 years to get all my finances and credit in order to purchase a home. I was pre-approved and picked a home 25k under my pre-approval limit. I put money in escrow and paid for the inspections twice due to the fact the homeowner didn’t give the inspector access to the attic the first time. I work two jobs and receive disability from the military. I make way more than enough to pay for this home. My credit and debt to income ratio were verified by two USAA employees during the initial two processing steps. I was finally submitted to a processor named Stephanie. She had me jump thru so many hoops. I got all the paperwork she asked for which wasn’t an easy task. Sometimes I had to submit documents more than once for whatever reason. She finally told me she had everything she needed to move my loan forward. Working with her thru this process was very frustrating and she fast talked me every time we were on the phone and requested so many docs that I’d already submitted. During my process, no one at USAA ever explained everything to me or gave me any advice. Being a first time buyer I thought they’d walk me thru everything and explain the process. Wishful thinking I guess


Then came the call, 16 days before closing. Stephanie told me that my loan was sent back stating my debt to income ratio was too high. Mind you it had been verified low enough for this loan by 3 different people including Stephanie. I asked her if they used all of my income. She looked thru what they sent and told me no. She said somehow my second job and disability was left off. She resubmitted the loan with all of my income. Two days later I still hadn’t heard back. I asked for an update and she gave me a call later that day. She told me that they would not be able to use my second jobs income. The company I work for changed their name last year after I’d been working there for almost 3 years. I explained this and showed documentation including W2’s to prove this. Stephanie told me that because they changed the name, my history is invalid and I need to find another lender.


I am in total shock and disappointed by the process USAA put me thru which was an absolute waste of time. Everything happened in an untimely manner. To back out of the loan when we’re so close to closing is absolutely ridiculous…especially for the reason they gave. We’ve already packed our home and gave our landlord notice. Now I have to try and find another lender that can close within the time I have left. After all the verifying they did early in the process, they could have told me they couldn’t give me the loan a long time ago. I feel totally disgusted with the way my loan process was handled. Buying a home should not be this difficult for Veterans. USAA prides themselves on helping Military with things like this but obviously that’s not the case.


 I’m praying we find a lender that can help and when we do, I will cancel all of my accounts with USAA and never use any of their services ever again!! I wish I would have read these reviews before I chose to use them. I’d suggest that anyone reading this find another lender to use!!



Thank you for your willingness to share your experience. We appreciate you serving our country. USAA's mission is to provide our veterans, military members and all members with exceptional service each and every time. It's disappointing to hear that was not the experience you had with the Mortgage application process. I will share your feedback about this matter with our team to ensure your concerns are properly reviewed for areas of opportunity. ~Thank you. Celeste