USAA Ratings and Reviews

Customer reviews for brand_bank_loan_refinance_my_home (Unknown)

brand_bank_loan_refinance_my_home (Unknown)

Overall rating:
3.329 / 5
3.3
 / 
5
(657 reviews) 652
Open Ratings Snapshot
Rating breakdown 657 reviews
5 Stars
316
4 Stars
47
3 Stars
36
2 Stars
53
1 Star
205
392 out of 65760%customers recommend this product.
Customer questions and answers:
49 Questions | 50 Answers
Customer reviews for (Unknown)
Review 1 for (Unknown)
Overall rating 
1.0 / 5
1.0 / 5

2 weeks to find out don't offer 30 year fixed rate

Written on2/19/15
Customer avatar
Rich175
Military Branch:Army
Features 
1.0 / 5
1.0 / 5
Customer Service 
1.0 / 5
1.0 / 5
Applied online for a 30 year fix rate refi mortgage. Several days later I called to find out what was up. Was told they were too busy to talk with me about it but they would call in "3 to 5" days. After 10 days and no response I called to complain. I told the rep I was trying to do a 30 year fixed rate refinance. He told me I would have to try a different financial institution. Suggested US Bank. Why didn't they tell me that 2 weeks earlier? By the way, I called US Bank. Their rates were not competitive. I have been a USAA member since 1970. This is not what I have come to expect from them.
No, I do not recommend this product.
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Review 2 for (Unknown)
Overall rating 
2.0 / 5
2.0 / 5

PUT YOUR RATES BACK ONLINE

Written on1/8/15
Customer avatar
Anonymous
Features 
1.0 / 5
1.0 / 5
Customer Service 
3.0 / 5
3.0 / 5
What are you hiding USAA? Put your mortgage rates back online. I was able to do a simple search and find the rates, but you made it so I have to call in and get a quote for a Mortgage rate. PUT YOUR RATES BACK ONLINE like other banks.
I recommend this product.
Response from USAABy USAAModerator1/29/15
Our goal is to ensure you are provided with the service you have come to expect from USAA and regret your experience did not meet your expectations. Interest rates have been temporary suspended from USAA.com while we transition to a new system which will allow USAA to offer more loan product diversity. Your feedback has been shared with the executive management and we appreciate the opportunity to address your concerns. Thank you for your membership and your service.
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Review 3 for (Unknown)
Overall rating 
1.0 / 5
1.0 / 5

The Worst Experience I ever had with any Lender

Written on12/24/14
Customer avatar
Patty USAA
Military Affiliation:Retired
Military Branch:Marine Corps
Features 
1.0 / 5
1.0 / 5
Customer Service 
1.0 / 5
1.0 / 5
Would not even know where to start with the most horrible experience I have had with USAA. Worst part is that I was taking the money so I could lend to my son who is Army National Guard preparing for deployment. I endied up liquidating assets so he could close since I saw this experience was heade in wrong direction. I love the bank, auto loan dept, my wealth management team etc. I WILL NEVER use the mortgage department again.
No, I do not recommend this product.
Response from USAABy USAAModerator12/26/14
Member experience is our number one priority and we regret your experience. We will have a subject matter expert review your file to determine what caused the delays in processing your loan and someone will reach out to you to discuss the specifics of your situation. Thank you for the feedback and for taking the time to notify us of your concerns.
+3points
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Review 4 for (Unknown)
Overall rating 
5.0 / 5
5.0 / 5

Refi Experience

Written on11/6/14
Customer avatar
OCAPAP
Features 
5.0 / 5
5.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
I was concerned from reading the reviews about refinancing with USAA, but figured I would give them a shot. It couldn't have been an easier process. We started on 9/30 and closed on 10/24. The online uploading of documents was great. Any questions I had were submitted by email and answered quickly by our Mortgage Processor. Our Mortgage Processor kept in contact with us at all times.
I recommend this product.
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Review 5 for (Unknown)
Overall rating 
5.0 / 5
5.0 / 5

Refinance was easy and fast

Written on8/12/14
Customer avatar
Coffeemum92
Military Affiliation:Separated
Military Branch:Navy
Features 
5.0 / 5
5.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
We just closed on our Refinance with USAA today and I am very excited to share that it was truly an easy, painless, and fast process. After reading reviews, I was a little apprehensive about attempting a refi with USAA, but any worries we had were for not. The application process was easy, our formal application packet arrived quickly and again was easy to complete and return. Our mortgage processor was responsive and very pleasant as was our appraiser. Our closing was scheduled quickly and completed on time. From application date to closing date was less than 6 weeks! No resubmitting of info, good, clear upfront info on fees and dates. And the closing happened right in our home at a time that worked for us. All in all, we couldn't have asked for a better experience. If you are considering USAA for a refi, I say go for it!
I recommend this product.
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Review 6 for (Unknown)
Overall rating 
1.0 / 5
1.0 / 5

Second try

Written on8/10/14
Customer avatar
MandT
fromNorthern Virginia
Features 
1.0 / 5
1.0 / 5
Customer Service 
1.0 / 5
1.0 / 5
This is the second time we used USAA for mortgage related transactions. And for the second time, total disappointment, stress, and just a terrible experience. Unfortunately, we were overseas both times, so we had no choice. We were even told that what made it a horrible experience the first time had been remedied. Not true. We already had to submit a survey about our refinance experience and were told that management would see our comments and this would be handled, truly doubt it. Both times the loan processors seemed to be out of touch and in over their heads given they were constantly coming in on weekends to work on their portfolios. Our processor this time kept mixing things up, not finding documents we had submitted, and took vacation without notifying us or giving us a POC. This led to a botched closing that ended up lasting twice as long as it should have. Such a shame because we use USAA for everything else and are happy.
No, I do not recommend this product.
Response from USAABy USAAModerator8/21/14
Our goal is to ensure that you receive the level of service and professionalism that you’ve come to expect from USAA and regret your experiences did not meet your expectations. Someone will be contacting you regarding this matter to discuss the details specific to your situation. Thank you for taking the time to provide us with your feedback.
+6points
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Review 7 for (Unknown)
Overall rating 
3.0 / 5
3.0 / 5

Appreciate the product reviews

Written on6/10/14
Customer avatar
Fishbomber
fromDayton, OH
Military Branch:Air Force
I am considering a refinance and I read the reviews online. I use USAA exclusively for my banking and insurance. It's a great company. My last experience with USAA mortgage services was unpleasant (2001) and I won't go into the details here. I decided to use a different bank after reading the reviews. (I gave this comment 3.0 stars becasue that's where they sit now).
I commend USAA for posting all reviews. With the number of retired Generals running around that place, I would hope that one of them will put some emphasis on improving this business area. A 60% score is not good enough to attract my business despite a 100% commitment to the company in other areas.
No, I do not recommend this product.
+6points
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Review 8 for (Unknown)
Overall rating 
5.0 / 5
5.0 / 5

We Just Had a Great Experience with our Refi!

Written on6/10/14
Customer avatar
Mrs. Mimi
Features 
5.0 / 5
5.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
After reading some posted reviews, I was a little anxious with refinancing with USAA. But, as usual, USAA went above and beyond with providing us with excellent customer service ( Carl A. was the most engaged processor I've ever worked with and even called us twice a week to follow up! If we left a message or had a question, it was answered usually same day or next.) Our refi was done in just a little over 40 days from first phone call to closing date and the attorney even came to our house to close- super convenient. Thanks Carl and thanks to USAA- I will continue to sing your praises!
I recommend this product.
+1point
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Review 9 for (Unknown)
Overall rating 
1.0 / 5
1.0 / 5

Hard time refinancing

Written on5/15/14
Customer avatar
catkid
Military Affiliation:Retired
Military Branch:Air Force
Customer Service 
1.0 / 5
1.0 / 5
We have been USAA for years. Both prior active duty members. So very disappointed in our refinancing experience. We have tried multiple times to contact someone in the mortgage department who can assist us, but to no avail. Our loan processer is rude and very unhelpful, her supervisor is the same. We have left multiple phone messages for them. If we do speak with them our mortgage processer is not able to answer our questions, her supervisor states he would look into our loan and notify us in 24-48 hrs. It literary has been a week and we still haven't heard from them or been able to contact them. Very happy with USAA insurance, not so for the mortgage department.
No, I do not recommend this product.
Response from USAABy USAAModerator5/16/14
A Member Advocate is reviewing your file. Refinancing is an important transaction and we are pleased you chose USAA—we value your trust!

We appreciate the opportunity to look into matters and make this situation right for you. Thank you for your review—we will contact you shortly to provide an update on your loan status.
+5points
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Review 10 for (Unknown)
Overall rating 
1.0 / 5
1.0 / 5

What Has Happened to USAA Being There for us?

Written on5/12/14
Customer avatar
Career Member
fromOmaha
Military Affiliation:Retired
Military Branch:Air Force
Features 
2.0 / 5
2.0 / 5
Customer Service 
1.0 / 5
1.0 / 5
I started a Mortgage request mid March. Whenever documents were requested, I submitted them same day! We have been waiting for an abstract to be completed for almost 8 weeks?? The appraiser appraised the property $200k less than two other appraisers! I was told I will have to pay another $900 to keep the rate locked in because we cannot finalize the abstract AFTER I recommended a reputable abstract company when I began the process. 8 weeks for an abstract!! Who is USAA working with?? Plus, this abstract company cannot even get our data correct! We are still WAITING. When I call, the USAA is pleasant, but cannot get anyone to resolve the abstract issue while costing me big bucks.
No, I do not recommend this product.
Response from USAABy USAAModerator5/16/14
Based on a quick review, it appears your loan is ready to close. Additionally, the cost to extend your rate lock is .125 points, which equates to $240.21.

A Member Advocate will follow-up with you to provide more detail about the delay with obtaining the abstract. We regret your experience has been less than expected but want you to know we will work very hard to restore your faith in USAA. Thank you for your review.
+3points
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Review 11 for (Unknown)
Overall rating 
1.0 / 5
1.0 / 5

Re-fi terrible experience

Written on5/12/14
Customer avatar
CBCH
Features 
2.0 / 5
2.0 / 5
Customer Service 
1.0 / 5
1.0 / 5
Over 40-years of home ownership and never a single instance of this ineptitude. I understand the mortgage company is a sub-contractor...if so, they need to find another one. I'm thinking there must be a reason the re-fi company is this bad, but not one I'd care to imply in this review. We spoke with one person who quoted a 30-year rate, then she "disappeared" and a week later, a different person called who offered a much better rate that I locked in. When papers arrived later, my wife noticed that I had locked in a rate on a 15-year loan, not the 30-year I had agreed to with the first representative. We decided to let the mistake go, so as to not hold up the process. Well, the process got held up anyway, with request after request for new, or sometimes previously sent documents. I got to a supervisor one time whose grammar was atrocious. A second attempt left me with the original rep. As our closing date has passed, I've told them we're going back to the original 30-year loan.
No, I do not recommend this product.
Response from USAABy USAAModerator5/16/14
Thank you for the opportunity to review your loan file. We’re sorry to hear about your experience! A Member Advocate will contact you to provide an update on your file. In the meantime, we’d like to clarify a couple of things you wrote about…your loan is being processed by USAA employees. It appears the last communication from the processor on May 14 listed documentation required from you in order to proceed. We appreciate the opportunity to handle your refinance, and we look forward to getting things back on track and closing your loan. Thank you for your continued membership and trust.
+3points
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Review 12 for (Unknown)
Overall rating 
2.0 / 5
2.0 / 5

What Has Happened To USAA Mortgage?

Written on2/26/14
Customer avatar
Jeff Reynolds
fromNorthern Virginia
Military Affiliation:Retired
Military Branch:Army
Features 
2.0 / 5
2.0 / 5
Customer Service 
2.0 / 5
2.0 / 5
My experience was flat out unsatisfactory for what I expected from USAA. Multiple document requests from multiple processors, appeals to supervisors who didn't return calls, and delayed closing documents that weren't ready until the night before closing. My prev experience in 2004 was fine, but now it's not the same company. Personnel seem inexperienced and unsure, there is no sense of urgency, and there is no overall "take charge" case manager. You're assigned a "processor" but you'll be contacted by others and asked to provide documents that you sent in previously. Internal coordination lacking. Even the wire transfer to fund the loan on closing day was muddled; confusion over whether the 3-day right to recission prevents wiring funds prior to the 3-days expiring. My bank tried to wire funds to a USAA account that wouldn't accept them at first. In the end we closed at a good rate but I couldn't recommend this firm now to anyone. Their insurance is great but banking, not so much.
No, I do not recommend this product.
Response from USAABy USAAModerator2/27/14
Your membership and trust are important to us and we regret your experience was not more in keeping with your previous business history with USAA. We know that a good interest rate does not take the place of excellent customer service; rest assured your concerns will be reviewed by management and addressed with the appropriate personnel. Thank you for taking time to write a review.
+3points
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Review 13 for (Unknown)
Overall rating 
5.0 / 5
5.0 / 5

VA loan refinance

Written on2/21/14
Customer avatar
BooBoo Puppy
fromBremerton WA
Features 
5.0 / 5
5.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
I expected the re-fi to take longer to complete based on previous customer comments. Our transaction, from beginning to end, took 34 days. USAA bent over backwards to make this easy for us. My questions were answered immediately and completely to my satisfaction. I highly recommend USAA for any of your financial requirements.
I recommend this product.
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Review 14 for (Unknown)
Overall rating 
1.0 / 5
1.0 / 5

Mortgage Refinance Quote

Written on2/18/14
Customer avatar
Dave in DC
Features 
1.0 / 5
1.0 / 5
I just went through the online quote process for the refinance of a primary residence (single family attached home, ie, townhouse). The website provided 30 year fixed, 15 year fixed, 5-1 ARM, and FHA loan options. However, all loans were capped at $417K, despite my online data which clearly indicated I would need a "high balance" or "jumbo" loan product. Frustrating. It did say, "not all products are offered online, contact a representative..." It is not easy or appropriate for me to conduct personal business during a normal work day, lasting 12+ hours. That's why I was hoping to get some personal business done tonight, when it is more convenient for me. Oh well. Guess I'll have to figure it out later.
No, I do not recommend this product.
-2points
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Review 15 for (Unknown)
Overall rating 
5.0 / 5
5.0 / 5

I think USAA is listening and improving

Written on2/9/14
Customer avatar
MRoth12
fromSeattle, WA
Military Affiliation:Brat
Military Branch:Navy
Features 
5.0 / 5
5.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
In a nutshell, I had an outstanding refinace experience with USAA. I'd read earlier reviews about struggles people had with USAA and so instead of using them as my only option (as I do with their other services), I included them as one of my options. I ended up going with them, and had everything closed within 3 weeks.
Based on my experience, I believe USAA has listened to the feedback given and is working on figuring out how to balance good customer experience, and protecting us (other members) from bad investments.
The only glitch I felt was my USAA point of contact emailing me, letting me know what documents were needed, sooner than the 'electronic system' would update the same info. This resulted in me getting multiple requests for the same documents. My point of contact stayed in good contact with me and we worked through it.
I also really appreciated their "road map" of where we were in the process, outlying what they needed from me and what they were working on.
I recommend this product.
+2points
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Review 16 for (Unknown)
Overall rating 
2.0 / 5
2.0 / 5

Something is wrong with this company

Written on1/24/14
Customer avatar
GaryAH
Military Branch:Army
Features 
3.0 / 5
3.0 / 5
Customer Service 
1.0 / 5
1.0 / 5
Have been with this company for decades and family history extends over 50 years. Never had a problem till last few years.Latest refinance was painful. Incompetent management, delays, poor response by representatives. Since then have had recurrent problem of not getting monthly bills in mail. Was switched to on-line bill notification without consent or notification. A few months of normal service then I get no mailed mortgage statement for several months. As the previous error had resulted in me overpaying for the year I figured when a payment was due I would get a bill. Wrong. They did manage to mail a delinquent notice with a late fee added. Called, got a lecture about paying bills on time. Rep unhelpful and treated me like a bum. Repeatedly blocked from fixing it myself on line. I still think insurance arm is good. However, something has gone really wrong over the past couple of years with the banking division of this company and I don't think the board is paying any attention.
No, I do not recommend this product.
Response from USAABy USAAModerator1/31/14
We would like the opportunity to assist you in any way possible regarding this matter. We are reviewing the situation and will be contacting you shortly to discuss our findings. Thank you for taking time to write about your concerns.
+5points
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Review 17 for (Unknown)
Overall rating 
5.0 / 5
5.0 / 5

Easy refinance

Written on11/26/13
Customer avatar
S. Judy
fromOklahoma
Military Affiliation:National Guard
Military Branch:Air Force
Features 
5.0 / 5
5.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
I must admit that after reading some of the reviews, I had doubts about refinancing through USAA. But I have been with USAA for almost ten years and I have never been disappointed. Additionally, I was aware of the historically low interest rates which had created a high demand for refinancing, so I was prepared for delays. It could not have been a better experience! I submitted my application on 10/23/13 and received initial approval the following day. On 10/25/13 I was contacted by the mortgage processor, who told me what he needed from me. I received a packet of forms the next day through FedEx for me to complete and return. The mortgage processor was in contact with me throughout the entire process and was always quick to answer all of my questions. We were scheduled to close on 12/2/13. We closed on 11/21/13 and funding was in place on 11/26! So I went from filling out an online application to close in less than one month, and completely finished in 34 days!
I recommend this product.
+3points
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Review 18 for (Unknown)
Overall rating 
1.0 / 5
1.0 / 5

This is a joke

Written on11/19/13
Customer avatar
Suzanne106
fromRancho Santa Margarita
Features 
1.0 / 5
1.0 / 5
Customer Service 
1.0 / 5
1.0 / 5
First they sent out an incompetent appraiser. Second, neither the processor nor the u/w knows how to calculate income so they had to ask for a verification of income (still waiting) because our DTI was too high. Ironically, we are doing this loan to pay off debt! Then come to find out the loan parameters have changed greatly since we refinanced 10 yrs ago; they no longer pay off debt through the loan (hence the DTI issue). Keep in mind, they already have our mortgage so this should have been a slam dunk. Unfortunately, the processor is not the "take charge" type so I'm having to do a lot of follow up. Now granted, we cancelled the loan last week for all of 2 days, after the appraisal and income issues and finding out the loan parameters had changed, we didn't feel comfortable proceeding. At this point, I'm not sure where things stand. Very disappointing.
No, I do not recommend this product.
Response from USAABy USAA moderator11/25/13
While lending parameters have changed, USAA strives to provide appropriate solutions and stellar service. We are sorry your experience has been less than exceptional. A mortgage representative will contact you shortly to discuss your experience and create a plan for improved service.
+6points
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Review 19 for (Unknown)
Overall rating 
4.0 / 5
4.0 / 5

Good Product, Not Great

Written on11/14/13
Customer avatar
kfarnsworth44k
fromIndianapolis, IN
Military Affiliation:Family
Military Branch:Air Force
Features 
4.0 / 5
4.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
First off, let me start by saying that the refinance process with USAA is far from perfect. There were times when documents were requested from me multiple times (from different people).
USAA was competitive when compared to other refinance companies. They weren't the best/cheapest, but they were far from the worst/most expensive.
From my application to my close date, it took just about 60 days (a little over because of our wedding/honeymoon), otherwise it would have been less than 60 days. USAA was able to extend our rate lock period with no cost to us.
Everyone throughout the process was pleasant and easy to deal with. USAA was very accommodating when it came to the timing and closing process.
The only drawbacks would be the amount of paperwork (which is probably due more to government regulations) involved and the occasional miscommunication between either USAA departments or USAA and some of the vendors that they use. I don't think another company would have been any better.
I recommend this product.
+3points
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Review 20 for (Unknown)
Overall rating 
3.0 / 5
3.0 / 5

Scared of refinancing

Written on10/23/13
Customer avatar
jw51m
fromZillah, WA
Military Affiliation:Family
Features 
3.0 / 5
3.0 / 5
Customer Service 
2.0 / 5
2.0 / 5
I am a prime candidate to refinance. Plenty of equity, high credit score, low interest rates. But honestly I am scared to start the process based on the reviews.
Why isn't USAA dealing with the issues here? How about a public acknowledgment of the problem from the CEO of USAA and how they plan to fix it. Or has USAA grown to the point that there are too many bureaucratic issues, especially in the mortgage side of the company.
Hope this gets posted.
No, I do not recommend this product.
Response from USAABy USAAModerator10/25/13
The feedback provided here about mortgage experiences does not go unnoticed. To live up to your and our expectations of best in class service, we've hired additional mortgage representatives and continue to evolve our processes. Please know the vast majority of members have a good mortgage experience but we know others do not--and one problem is a problem too many for us. A Member Advocate will be contacting you to discuss this in greater detail and answer any additional questions. We value all member feedback and sincerely appreciate the opportunity to address your concerns and restore your confidence.
+2points
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