For What it's Worth,
Several years ago...February 2003, we (my unit) received a heads up that deployment was imminent. My wife and I decided we would check into V.A. refinance through USAA. Although I had been a member since ROTC a couple of whiles ago (thought I'd throw that in) the rules were such that we would have to undergo an appraisal. Even though we had already leaned forward in the saddle and paid for an affiliated outside source $550 for an estimate, we were required to use one that USAA chose. So out of our pocket came another...oh just $550. Finally, when the V.A. appraiser arrived, he looked hung over from a binge, dirty shirt and slacks were wrinkled, scuffed shoes and hair all over the place. Did I mention he needed a shave, had B.O. as well as halitosis, my wife offered breathe mints that he turned down, oh really? In a separate POV was a measuring stick guy that went around and through the house taking measurements and pictures, all the while complimenting us on our house and what we had done to it. The disheveled appraiser was there on site for maybe 15 or 20 minutes and did not even go inside (angered my wife off to the max). The measuring stick guy/assistant spent over an hour on site and when leaving apologized for the appraiser, but seriously indicated that he thought the loan would go through for more than enough for the renovations desired (new roof, heat pump etc. etc.) A few weeks later, after badgering USAA we were finally informed that we were not approved for the Re-Fi, but still owed the fee of only $450 due to the inconvenience. Full amount was going to have been added into the closing costs "when" approved. Upon complaining to USAA about the entire ordeal to no avail, ultimately I was off to the other side off the world $1,000 gone from savings and without a loan in place for the Re-Fi.
My wife (Love that girl!) however, would not be denied, she contacted the first appraiser and even though that appraisal had expired by that time they allowed it to remain due to my circumstances. She went with a Conventional/ FHA Loan and was able to get an even Lower Rate. I had signed a General Power of Attorney prior to my departure for my wife to utilize due to the fact that I would be in harm’s way. When I came home for my mid tour, I was just in time for us to receive, due to my wifes due diligence, the cash amount enabling us to do the renovations and have some cash to treat my wife to an awesome time while I was home. I Love USAA, but not their V.A. Mortgage Dept. and I hope the unprofessional appraiser was fired. We are considering a Re-Fi again, but I doubt I will use the V.A. or USAA.
I am sorry to hear about your negative experience with our refinancing department in 2003. We hope you will consider giving us another shot this time around. If you have any questions or we can address any concerns please do not hesitate to call and speak with a mortgage specialist at 1-800-531-8722. Thank you for sharing your story in the community!
The VA Re-Fi at USAA sucks. I am going through it now. They do not tell you up front what you need and how much it iwll cost. Plus if you already have the house with a VA loan, they make you do more things then the VA requires. If I was not almost done with my refi I would walk away from them quickly.