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Contributor
I have always had excellent service from USAA to this point. Recently I found a farm in foreclosure close to my home through movers advantage, I made an offer on a USAA preapproved mortgage, the offer was excepted, and my mortgage was subsequently approved. On the second trip to the underwriter for final approval, it was discovered that this house and 30 acres was actually a "farm", something USAA said they weren't aware of although I had found it on their website. Without notice they canceled my mortgage, and said they could not process it as it was an agricultural title. I can completely understand the stance, however with the fact that USAA referred me to a farm insurance company as well as the property was found on their movers advantage site, you would think they would honor this preapproval and mortgage as I was less than 30 days from closing when I canceled my mortgage application.I cannot begin to tell you how disappointed I am in USAA for this, they were nice enough to refund my $350 deposit on my mortgage application. Be warned even if you find it on their site, they may not honor the mortgage pre-approval.

1 REPLY

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Dear Joshua,
I am looking into how something like this could have happened. I am glad you received a refund and appreciate you bringing this issue to our attention. Please bare with me as I find a better answer as to why this property was listed! Thank you