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We are in the process of being reviewed for a mortgage.  I have been reading the horror stories and now I am concerned.  We received conditional approval and all the paperwork is supposed to be in Underwriting.  I hope we are not another unhappy USAA member.  We are supposed to be closing on 6/12.  We are without a home since we sold ours and need everything to go along smoothly.  I am crossing my fingers we are not another unhappy statistic.

13 REPLIES

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HotRod32;

 

1. USAA, like any large organization, has its "good days" and "bad days".  If you haven't received your "Loan Application Package" yet, then you will need to complete that. That said, I believe from your post that you have submitted all the required documents and that your suppose to be in the "underwriting" phase of your mortgage, so I believe you are over a majority of the "hurtles".

 

2. You need to keep on top of things, be proactive, and don't simply "wait" for something to happen.

 

3. Based upon your current "close date" I recommend the following:

 

  • You will need to call your "loan processor" at least once per week (starting next week) for the next two weeks and ask them "What is the status of my loan?".

  • Starting around May 26 I would start talking to your "loan processor" (if needed) at least twice per week and asking them "Am I ready for closing?" and "Has the loan paperwork been sent to the Title Company?".  ALSO, call your Title Company and ask them "Have you received my loan paperwork?"

  • On June 5 (one week out from closing) double check everyone is "on track" and the Title Company has all it needs to close on the expected date.

  • For the next month or so keep a close watch on your Documents on the USAA Main Website.

4. LOOK: Click here for a guide on the USAA Mortgage Process.

 

Good luck on your new home purchase.

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Does the Loan Application Package come snail mail or email? I submitted my info and I'm waiting on the Loan Application Package so I can submit documentation. 

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I never got a packet until I called and asked.  You shouldn't have to do that, but it definitely sped things up.

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Everyone;

 

1. Your Loan Application Package should arrive via FedEx (unless USAA has decided delivery method).

 

2. That said, you should also check your Documents online on the USAA Main Website by first clicking on My Account Tools and then by clicking on View Documents in the Documents and Forms Section.

 

3. Within your online Documents, you should look for a document with the title "Disclosures Only" (unless USAA has decided to change the name) which will have a large number of pages (in my experience 94 to 99).

 

  • This will be a "online version" of the Loan Application Package.

4. USAA has the ability to do your Loan Application Package "electronically".

 

If you have access to a scanner you can:

 

  • Print out just the documents needed to complete your loan (NOT THE WHOLE "Disclosures Only" FILE),

  • Manually complete / sign the needed documents.

  • Scan to JPEG the completed documents, and;

  • Combine the scanned JPEG Documents into single MS Word Document, and SAVE FILE as PDF, then;

  • E-Mail PDF Document to your Loan Processor.

 5. I hope this helps you.

 

ADDED: If you have access to the full version of Adobe Acrobat you can scan directly into a PDF document (skipping the whole combine several JPEG's into a single MS Word Document).

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I have had nothing buy very positive experiences with USAA. Mayne I'm the lucky one. Anyway, if it doesn't work out try Churchill Mortgage!
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Tgarner567,

We are so glad you are pleased with our services! Thank you for your membership!

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Hotrod, Run, Run for the hills!!!  Go with a local lender if you want to close on time.  The service you receive from USAA mortgage services will not be half of what you will get from someone local.  I wish it wasn't so late in the game or we would change.  We are a week late closing right now.  

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Run.... 

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Oh my gosh... I'm just getting started with pre approval for mortgage... Yeah, now I'm wondering... Should I just go down the  street to my local bank and take my chances....    where are all the good happy beginings/ending....