We are beginning year 3 of a 10 year mortgage with USAA.  Would it be worth refinancing.


@Nurse14, That is a great question. I am going to forward this to a subject matter expert to tackle once they are back in the office. ~Tom

What about equity line of credit?
I'm thinking when I want to pull equity out again I will get equity line of credit. It sits there and you don't pay until you use it.

Hello sonylove. Thanks for your question. Ultimately- it would be your discretion to pursue any type of mortgage transaction, but we are here to answer your questions. The lowest refinance term USAA offers would be 10 years, but you may be eligible for a lower rate producing a lower monthly payment. You would need to do some math (and a loan officer may be able to assist) to confirm if this would be in your best interest based off your loan term starting again at 10 years. Please be aware that there may be a lengthy hold time to speak with a loan officer due to an influx of calls. Currently, USAA does not offer home equity products. Thank you. 

I can't get anyone at USAA to talk to me about a refi.  The only option at usaa.com is an 800 number to call and the estimated wait time is 2 hours.  What's going on with USAA?

Hi @JCookthank you for reaching out to us. There is a lot of excitement around USAA mortgage offerings and we are thrilled to be serving so many of our Members during such an important process. We would love the opportunity to serve you and apologize for the longer than normal hold times. We are available 7 days a week

I think USAA created that call “backlog” while they raised interest rates.
I’m in the same boat. I was thinking about refinancing so I called USAA a few minutes ago although I’ve been trying to get through to them all-week. The loan officer quoted me some terrible rates and it seems USAA has raised their rates over the past week to prevent people from getting a better rate from them. Despite having a perfect mortgage payment history and near-perfect credit, USAA couldn’t provide me with a sensible rate that would qualify me for a VA IRRL. Because USAA raised their rates this week, I’m unable to refinance my VA loan. Their disservice is causing me to consider taking my business elsewhere after being a loyal USAA member for over 15 years.