My experiences are mixed
I had a positive experience refinancing a mortgage with USAA about 2 years ago.. The house was located in another state and I had enough equity to do a conventional refinance versus a VA refinance. The process was relaitvely smooth.
I am currently working with USAA for a mortgage on a new property. That experience has been neutral to negative. It started out well but the closer it gets to closing the more negative it becomes.
For example, the mortgage specialist I was assigned was frequently out of the office. His out of office emails would have the wrong person's name and phone number. The backup person I was dealing was fairly decent at responding but would not completely answer my questions.
Also, it seems when policies benefit USAA they enforce them, but when it doesn't they give you the run around. For example, I was told when I started the loan process that even though the new HUD regulations didn't take effect until October, USAA would be implementing the,. One of the new regulations is borrowers are to receive documents 3 business days before closing. Today I was told since I started my application prior to 3 Oct, I would receive my closing documents "hours" before closing (the specialist's words).
This is poor customer service and I feel like a bait and switch. Especially, since I was told this afternoon I would receive the final documents 1 hour prior to closing. So I have to review the closing documents, go to the bank to wire funds, and make it to the title company in less than an hour.
Depending on how closing process goes I may reconsider my use of USAA. The customer service in regards to new mortgages definitely needs some improvement.
For other borrowers, I would recommend USAA for refinancing, but you may want to work with a mortgage broker or a local bank credit/union for a new mortgage.
