I had horrible experience with USAA mortgage department, too. They flatly denied my applications with not further counter offer. My ETS was about 18 months and had plan to reenlist anyway. They wanted a letter from US army saying that I am going to reenlist or proof of jobs after I get out. How possible to get a proof of job when I am still in US Army and have more than 18 months to get out if I wanted to get out. It was really crazy. Funny thing, they will keep asking to apply no matter what happened in the previous application. Don't ever do that which will hurt credit score without doing anything.
Thank you for your comments (on the other threads as well). We sincerely regret the outcome you describe. A mortgage expert will be contacting you for further details to ensure we left no stone unturned for possible solutions. Thank you again for posting in the community.
I have had the same experience. While my loan processor was alwasy friendly with me, it seems like the USAA home mortgage department is understaffed. I did not get same day phone call returns. I was not able to get issues addressed promptly. I was told that agreements were made with the title company, only to find out later that they could not be made. I lost $5,000 in fees and escrow. Slow or now follow up with the VA on the home appraisal caused me to dump another $1000 into escro to extend the contract. Had I known this was all going to go bust I would have taken my losses and run, not thrown good money after bad. I love everything about USAA BUT their mortgage department. I would not reccomend USAA to anyone purchasing a new home. I feel that the mortgage is a go-to product because all the other USAA products are so wonderful. USAA needs to clean house and re-build this line of business or department from the ground up. I'm going with countrywide, or some other bank for my mortgage. Fool me once, shame on me, there won't be a second chance. I'm also considering looking around to see if someone else does other banking services better as well.
With USAA Since 1994
It never got better, USAA failed my mortgage in the last minute, I mean when we sat down to close the mortgage. It has been terrible experience with USAA mortgage and wasted so much time doing paperwork with them , and no outcome
Snowboard4life and DreamHouse,
I am sorry to hear that you have not had a pleasant experience. I have passed this along to our mortgage team and will have someone contact you directly in order to discuss. Thank you both for your comment in Community.
This is 2019 and the Mortgage Application folks are still pulling the same stunts. We were supposed to close on December 17, 2019. Guess which day USAA Mortgage loan department opted to close on, December 16, 2019. Now they have extended it out to January 17, 2020 after my husband had already made arrangements to come home for the original closing date. He tried to cancel his leave but was told that everyone had already been reassigned to cover his being gone. So he is on his way home with no pay until after January 4th. Not the best thing to do when one needs every cent they have to pay movers, set up new utilities, etc. The Mortgage Loan department said we could pay an additional $650.00 to extend our rate for another 30 days. The only problem with that is there are more than 30 days between now and January 17, 2020.
Hello DV92. I am sorry to hear about your closing being delayed. It is always our intention to close you by the estimated close date, but mortgage transactions are not always seamless because of the multiple factors involved, some out of USAA's control. For all VA loans, the VA provides confirmation the borrower is eligible and has proper entitlement to qualify for a VA loan. To verify this, we request a Certificate of Eligibility (COE) at the start of the transaction, but the VA is not always able to provide an immediate copy - which requires the manual process to be started. We needed to wait for the COE to be received before we could order a VA appraisal, and your processor ordered the appraisal immediately upon receipt of the COE. I can also see that your attorney's office is still working on clearing title work. I hope this provides a basic understanding as to why your close date needed adjustment. I can also say that the updated close date provided is an estimate as we will attempt to close your transaction as soon as possible - once all items have been finalized. A complaint will be filed based off your feedback. I will also request your loan processor contact you to discuss your interest rate and answer any additional questions you may have. Have a great day. -MO