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Contributor
My husband and I wanted to buy our retirement home. Close to family and next to our best friends. So we turned to USAA to get pre approved and use our VA loan 4 months ago. After getting the pre approval my husband made plans to fly home to finalize the purchase and have inspections done. With a few things needing to be repaired to qualify the pre approval time pasted and our 90 days needed to be extended. In my multiple calls during this time I asked a lot of questions and spoke with many different mortgage representatives. On one call I was told I could rent the home out until we moved there. To make sure that the information was correct the next day I called again asking the same question and to clarify what I had been told. I was then told that was absolutely false. Fast forward to 90 days and needing to extend. Something I thought was just me saying I need an extension, quick and easy. The mortgage rep. then says she needed to rerun things, this will be fine because I had been very careful not to change anything on my credit. She then proceeded to explain since my husband would be retiring the loan income would be based off of that. No ma'am it was ran off of our current pay because the first rep told me as long as my husband had more than 12 months it went off of that. To end the story, I was then told the loan was denied and that we should never have been qualified for the first pre approval. I hope my experience helps you decide whether to believe the mortgage rep when you are asking them questions. In our many years of being customs I have never been so disappointed in the company I recommend and brag about be so amazing. I thank for the apologizes that I have been given. It will not replace the money, valuable time that was wasted and loyalty I once had because I trusted USAA.