Will a charge off from 3-4 years ago prevent from getting approved for a home loan? Would like to be in a place in the next year to purchase a home and would likely apply for First Time Home buyers or Conventional Loan through USAA. Also is there a specific reporting agency USAA uses while considering which loan is right for you? I have heard that there are some that do not report paid off accounts... 


Thank you


@Flowerchild1, We appreciate you bringing your loan questions to us. We would be glad to discuss and answer your questions. Our mortgage specialists will be available Monday. I will forward this post so they can review and respond. Thank you for using the Member Community to reach out. ~ Suzy

Hello Flowerchild1. Glad to hear of your interest in USAA for your mortgage needs. For charge-offs, we follow our investor (Fannie Mae) waiting period of 4 years. I would still recommend you speak with a licensed Loan Officer to discuss specifics as this may not be the case for every borrower. 800-531-8781. For our credit services, we use Credco Corelogic. Have a great Monday! -MO