The USAA mortgage department is horrible. My wife and I were prequalified for a larger amount than we asked for. Then we found a house for significantly less than what we were even asking for. Two weeks after submitting our contract and full application to USAA my wife left the processor a voicemail to find out how everything was going. He did not respond so the next day I left him a voicemail. It was two days after that that he called me back and told me he had a message from my wife. He also told me that the loan originator made a mistake and did not count my student loans so we should not have been prequalified at all. Say what?!?! We already found a house, paid for an inspection and put down a deposit. Now we find out that USAA made a mistake? So I ask what we need to do to fix this and his response is that the only thing we can do is reapply in two months, which is after closing is scheduled.
As you can imagine this is extremely dissatisfying. My wife and I are not only unappy with the mistake that was made causing us to lose money, but also the lack of communication. We already gave notice to our landlord based on the fact we were buying this house and are also out the money we paid for an inspection because USAA told us the beginning everything was fine. It was later we find out the originator didn't know what she was doing. We will be completely leaving USAA.
Thank you for taking the time to comment here in the community. I have shared your experience and comments with our mortgage department for further review. Thank you.
In my personal circumstances I do understand the difference between a prequal and preapproval which is why we asked for a preapproval and were told they don't do those. So we provided USAA everything they asked for and the loan originator chose to leave out my student loans which it turns out was a mistake on her part. This was admitted by the loan processor who told me I needed further documentation and could reapply after my closing date.The home inspection is allowable under a VA loan unless you can get it as a concession. The seller must pay for a WDO inspection. We have not gotten to the appraisal.
I hope you found another lender. I would not wait on USAA but instead go somewhere else. If you were already prequalified they should have honored it. I am not feeling warm and fuzzy right now with USAA.
We would really appreciate some more information about how we can bring back that loving feeling. If you could send us a message here with further details we would be much obliged. Thank you.