We applied for a loan through USAA to buy a house. We applied in February 2014 for a loan and our closing date is in September, so plenty of time to have all the paper work in and our application looked at. We were told everthing was good to go. Come September, we were looking at the rates to lock in. I decided to call our loan officer to lock in the rate after a while of seeing the rates fluctuate, I finally was going to lock at a good rate. After talking to the loan officer he informs me that my loan application was denied and that the under writer had some issues with it back in June. After hearing I ask him why wasn't I informed of the issue or the problem, Since I had applied for a VA loan which doesn't require for me to come out of pocket or put any money down towards the house. For some reason the loan officer Sean said that I had to come out of pocket 65K towards closing cost. Than he proceded to ask me if I was with that? or if I was still going to go through with the loan. I explained to him that the reason I was using the VA loan was that so I didn't have to come out of pocket or put any down payment. At this particular time the interest rate that i was interested in was at 3.75 with a negative 0.25 points, which meant money towards closig cost. After hearing that i had to come out of pocket 65K we came to the agreement that he was going to do some research and call me back to see where the deficency was at. After waiting and waiting I did not hear from him at all. The following day I went to the closest USAA office which is pretty much done through the internet. I ended up with the Mortgage supervisor which was no help, I explained to him my situation and for some reason it was my fault which sounded like. At this time I felt like I had no choice but to use USAA since it was a short time frame from closing. I tried pleading my case with the manager about the problem and he said that he couldnt help me and if I wanted to lock in the rate that day, in which with my luck had gone up as far as points which meant I was coming out of pocket. I feel like I was in circle with both of these two mortgage processors, and I was keeping them from doing their job. I have never felt like another number until now. I had never had any issues with USAA and never expected to have so many problems with them as far as the mortage department. I just expected the same best service from this department as well. I should of read the reviews that everyone else has experience and than maybe I should of gone with Navy Federal. As far as recommending the mortgage department loan area to anyone, i will not do it and if I had the chance to do it again. I should of stuck with Navy federal.We were so confused and upset because all the time they had to look over our application and they want to wait till its almost time for us to close to tell us that and not to mention we would not recieve any calls back. We started panicing so we went to Navy Federal and applied there for another loan paid for the credit report. The only problem was that we would not be able to close on the date of our contract. So after all the rollercoaster ride, we get a call from our loan officer. He tells us that he got mixed up with our application with someone elses. Great!! So now we have to lock in with a rate where we have to pay out of pocket for closing as to where if we would have locked in when we were told we did not qualify, we wouldn't have to pay out of pocket and pay more in our mortgage payments.
Can you please email us at firstname.lastname@example.org at your earliest convenience so we can get an expert to look into your situation as soon as possible? Please include your member number and the best number to contact you. We are so sorry for the frustration you have been experiencing and look forward to hearing from you so we can help get this straightened out. Thank you.