I am currently in the midst of the worst business nightmare I have ever endured. I prequalified with USAA for a mortgage back in October and subsequently found a nice home for me and my 2 young girls. I submitted the earnest depost, conducted a home inspection, appraisal, the whole 9 yards. I have since been chasing my tail with my processor, who doesn't seem to have a clue. I have submitted documents over and over, had absolutely zero communication unless I initiate it, been told 3 different closing cost amounts, had prequal extensions about 6 times, returned to step 1 with employment verifications and tax returns, and now I'm currently in the dark.
It is now almost February and I still do not have a closing date. My attorney has taken up the task of dealing with these idiots as I no longer have the stamina to deal with them. I am now on anti-anxiety medication from dealing with this nightmare. I am crossing my fingers that the seller does not walk because it would break my little girls hearts. They love the house and I don't know what to tell them anymore.
I feel that the processor/underwriters have purposely stalled this file out of spite and shear incompetence. Closing agents have emailed them for status updates and so far have gotten nowhere. I plead with anyone out there intersted in going through USAA for a VA mortgage, LOOK ELSEWHERE! I wish I would have used Navy Federal Credit Union or Chase bank. I am now stuck in the mud with people who couldn't care less about me, my credit or my situation.
I am a veteran who is also a single dad and the way I've been treated by these people is shameful. Stay away from USAA
I enjoy the ability to go through one agency for everything. I have USAA for auto insurance (17+ years), mortgage and home insurance. I can in no way complain about auto insurance. But my home purchase was in the last year. The mortgage process was hellish, especially since i was trying to handle it from overseas and close to the holidays. My mortgage specialist went on vacation and her supervisor took over my account after 2 communications of trying to get a letter from the VA,it was easier for the supervisor to deny my loan due to not being able to get information. I went to Navy Fed and they were like it should not be a problem, not wanting to pay fees all over again and rerun our credit we decided to talk to USAA again. We had to restart the entire process but our loan went through. We aslo got USAA to provide our home insurance coverage. Togehter this should make the payments altogehter simple so we thought. We are about to hit a year in our home. First all the taxes were not calculated properly even though the information and the amounts were almost the exact same as provided before the process started. This caused by payments to jump by $800 because of being $4500 short on escrow and needing to make that amount up the next year as well. The agent acted like that was a small amount of change. Or just pay the lump sum of $4500 and your payment will only increase by $300. Which do you prefer. I would prefer neither i dont have $800 extra laying around and i dont have $300 either after a lump sum of $4500. We are working through this, and got some good news or so we thought. Our insurance is about to renew we get a letter from USAA and the new payments are reduced by a little over $200 a year. We think great. Two weeks later we get a letter from USAA saying our insurance deductible is set lower than the amount required for USAA mortgages. I call and im like USAA is providing the insurance, why would you adjust my deductible lower than what YOU require for insurance???? Basically im told i need to pay to reduce the deductible and it will cost all but about $18 of the $200 we thought we would save this year. So in one year ive had to add $4500 and my mortgage payment has increased by $300. and i have saved $1.50 a month on my insurance instead of the $20 a month their letter said originally. Beware