Anyone Know if USAA is good with VA loan process ?

SPC Ryan Su — Wed, 21 May 2014 16:17:42 -0400

Thinking about using VA loan getting a house in NY. But don't know what are the procedure is , and I'm still in the active duty.

Response by MSgt Keith Hebert made May 21 at 2014 5:08 PM

MSgt Keith Hebert — Wed, 21 May 2014 17:08:56 -0400

Yes usaa is great just give them a call and they will walk you through it very easy

Response by 1LT Private RallyPoint Member made May 28 at 2014 9:25 AM

1LT Private RallyPoint Member — Wed, 28 May 2014 09:25:44 -0400

I have been a member of USAA through my father starting in 1964 and under my name since 1968 and they are excellent in many ways.
I differ on using USAA or other national mortgage companies who primarily market and process via the internet. I like the ability of being able to speak to someone directly in person or via the telephone. Knowing I am always going to be able to speak to the same person. National mortgage companies can do an excellent job on vanilla typce loans but they have great difficulty in working with more complex loans situations; credit challenges and etc.
I would suggest seeking out a direct lender who works in the area you want to purchase. I would check the internet and also the local realtor in your area for references.
If you have any general questions about preparing yourself for the mortgage process I would be glad to assist you. Alot of the basics for preparing yourself for the mortgage process is similar from state to state.
Again Thank you for your service.

Response by MAJ Private RallyPoint Member made Jun 4 at 2014 2:16 PM

MAJ Private RallyPoint Member — Wed, 04 Jun 2014 14:16:33 -0400

I also used USAA - although they immediately sold my mortgage (and then I refinanced). USAA is great for helping with the VA loan process.

Response by SPC Anthony Smith made Jun 4 at 2014 2:16 PM

SPC Anthony Smith — Wed, 04 Jun 2014 14:16:34 -0400

Hi Ryan,

Active Duty military do qualify for the VA Home Loan and I would seek out a VA Lending Specialist in the area you want to buy Ryan. They will hvae answers to all your VA questions and know VA Home Loan savvy realtors you can work with as well. Keep in mind you must have over 12 months of active duty time left to qualify.

Response by SSgt Gregory Guina made Jun 4 at 2014 2:18 PM

SSgt Gregory Guina — Wed, 04 Jun 2014 14:18:14 -0400

I have used a variety of Banks/mortgage lenders. I have not had a problem with any of them. USAA did my first mortgage and refinanced with Quicken due to better rates. Don't get yourself locked in on one lender shop around and find the best deal.

Response by PO3 Private RallyPoint Member made Jun 20 at 2014 10:58 PM

PO3 Private RallyPoint Member — Fri, 20 Jun 2014 22:58:06 -0400

We refinanced our home to USAA and have had a great experience so far. I would highly recommend them.

Response by MAJ Gregory M. made Aug 4 at 2014 1:13 PM

MAJ Gregory M. — Mon, 04 Aug 2014 13:13:49 -0400

I shopped mine around on Quicken Loans and sites like LendingTree and got a better VA rate than USAA... I'm using WestStar Mortgage, they cater to veterans and gave me the lowest rate, no points, and they used an incentive rebate to pay off the VA fee. Even Quicken Loans wouldn't match the terms that WestStar gave me.

Response by Capt Jason Minnich made Aug 4 at 2014 1:54 PM

Capt Jason Minnich — Mon, 04 Aug 2014 13:54:47 -0400

USAA is a great company for many things, but mortgage origination isn't one of them. They have consistently offered me higher rates, higher fees and longer closings than when working with other companies. My first loan was through them and the process for you is very streamlined, however, I subsequently refinanced through another company and got a much better rate with half the points USAA quoted me.

Auto Insurance, all day long, any of their home products (aside from renters insurance), I would shop around.

Response by SGT Patrcia Palmer made Aug 14 at 2014 12:38 AM

SGT Patrcia Palmer — Thu, 14 Aug 2014 00:38:47 -0400

If you are still on active duty where are you currently stationed? Because it makes a big difference when buyig a house it the house is in another state. Also if your trying to buy the house after you get out of the military you will have to have a job and be on that job at least a year before most lender will give you a loan. I agree with the advise of other who stated that you should shop around for the best rate. I would suggest Navy Federal Credit Union they have a good program so shop around. Also remember that you can now print your home loan certificate from ebenefit. Just set up an account it a great account to have because you can do alot there instead of waiting for stuff to be mailed.

Response by SSG Private RallyPoint Member made Aug 16 at 2014 12:15 PM

SSG Private RallyPoint Member — Sat, 16 Aug 2014 12:15:51 -0400

In general the VA process was easy for us. We were pre-approved with USAA; however when it came to closing they were pushing the closing date out approximately 45 days (in May 2012). We shopped around and found a local company who processed the VA loan for us. We found the house, Monday May 14th we completed a new app with the new company, we were closed and moved in on May 25th...YES 11 days later (Ft. Campbell area). BTW our house will be up for sale next Spring because the special duty assignment will be up and we will pcs.

Definitely shop around.

Response by SFC Private RallyPoint Member made Aug 16 at 2014 2:01 PM

SFC Private RallyPoint Member — Sat, 16 Aug 2014 14:01:27 -0400

USA just did my second house. Super easy to work with. We've used them multiple times. From contract to close in 12 days. No BS.

Response by TSgt Pamela Cleere MRP, SRS, ABR, CRS, GRI, Realtor, RB-22176 made Aug 16 at 2014 6:29 PM

TSgt Pamela Cleere MRP, SRS, ABR, CRS, GRI, Realtor, RB-22176 — Sat, 16 Aug 2014 18:29:52 -0400

I have used USAA in the past, and found that their mortgage department is outsourced. I still love using them for checking, insurance, ect. I prefer to
use a local lender that I can see face to face. This is more important in places like Hawaii were sellers consider local lenders when deciding to accept offer.
Many of my clients use Veterans United Home Loans of Hawaii. They are here locally, offer exceptional custumer service, and do not charge origination fees.

Response by SSgt Don Copeland made Aug 20 at 2014 6:00 PM

SSgt Don Copeland — Wed, 20 Aug 2014 18:00:55 -0400

USAA does a good job, but remember they are not truly affiliated with the military or VA. I do a LOT of VA loans being in a strong military community. I compete against them daily, and they do great. Just keep an eye on the fees they are charging and/or the rate they are bumping up in order to cover the fees.

Response by Maj Lee Mobley made Aug 27 at 2014 1:23 PM

Maj Lee Mobley — Wed, 27 Aug 2014 13:23:52 -0400

My experience with a USAA VA loan was horrible. I was medically retired and changed careers. My wife and I have credit scores over 800, no debt and due to changing careers they wouldn't underwrite it. That put a really bad taste in my mouth with USAA. I felt like they weren't there when I needed them. The next 3 banks I delt with approved me on the spot and we picked the one with the best rates. We have slowly moved most of our banking and investments away from USAA and feel that it was a good decision. Shop around for the best rates and give a credit union a try. You will able to sit with a real person vs. navigating your way through USAA's call center. Good luck!

Response by CPL Private RallyPoint Member made Jan 2 at 2018 8:11 PM

CPL Private RallyPoint Member — Tue, 02 Jan 2018 20:11:24 -0500

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Response by CPL Private RallyPoint Member made Jan 2 at 2018 8:11 PM

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Response by SFC Harrice Moore made Oct 9 at 2019 9:12 PM

SFC Harrice Moore — Wed, 09 Oct 2019 21:12:31 -0400

Their processing and underwriting can be difficult at times. Contact Ross Pierson at Veterans United.

Response by SSgt Jason Wood made Jan 18 at 2020 7:13 PM

SSgt Jason Wood — Sat, 18 Jan 2020 19:13:02 -0500

They are actually the worst or tied for the worst with navy fed. Save yourself and go with a local who is also a veteran. VA loans are my specialty and I can help in CA, AZ, TN, GA, FL, CO. Soon NV, NC, VA

Response by SSgt Jason Wood made Jan 18 at 2020 7:13 PM

SSgt Jason Wood — Sat, 18 Jan 2020 19:13:16 -0500

http://www.valoanguy.us

www.valoanguy.us

Response by 1LT Private RallyPoint Member made Jan 18 at 2020 7:39 PM

1LT Private RallyPoint Member — Sat, 18 Jan 2020 19:39:01 -0500

I would find a local direct lender and interview them to determine they are competent with VA mortgages and you feel comfortable with them. I would contact USAA and get a quote from them and compare.
I am a direct lender in Florida and I have been a USAA member for 50 years. My interest rates normally are better and I know our service is better.

Response by Sgt Chris Cornejo made Jan 22 at 2020 9:38 PM

Sgt Chris Cornejo — Wed, 22 Jan 2020 21:38:34 -0500

I use USAA for everything, car/motorcycle loans, insurance, checking, and credit cards. I found better rates and loan officers some where else. They offer discounts if you use one of their recommended real estate agents, but I still found a better deal with a lender that just specializes in VA loans only. Veterans United is one of those lenders. I found that these lenders can close the deal and are ready to jump through the hoops if there are issues that come up at the last minute. I am on my forth VA loan and from my experience you will be better off without using USAA for home loan. The Navy federal credit union did not impress me either. They advertise great rates, but you might pay more, called buy down, to get the attractive rate they advertise. I hope this helped you.

Response by SSgt Mathew Cummings made Apr 12 at 2022 9:22 PM

SSgt Mathew Cummings — Tue, 12 Apr 2022 21:22:32 -0400

USAA has increased rates higher than the average based on 18 different Vets I know who have bought a new house in the past 2 years. As long as your search for approval is in a closer interval, won't hurt your credit as much. Your eligible but you need to contact the VA to get your authorization letter. That's the VBA not the VHA. You can contact the Public Contact office at the VA Regional Office for more information in your area. If your in NY, it's out of Buffalo.