Info on USAA home mortgage loans...

[Anonymous]

It was recently brought to my attention that I qualify for USAA benefits. I spoke with a rep there and was quoted extremely good interest rates and fees as opposed to a normal lender. It almost seemed to good to be true. Does anyone know if their services are in fact, that beneficial versus you standard lenders? Do they really have no minimum credit score requirements?

[Anonymous]

I have been a member of USAA for almost ten years, and called the other day to talk to a financial planner regarding (preparation to qualify for) a mortgage loan.  I was told that my score needed to be about 700.  I do know that if you are able to get a loan through USAA, the whole process is easier - they do all the work.

[Anonymous]

I have my mortgage through USAA.  They don't carry the loan so you will end up having your loan serviced by another bank.  US Bank services mine and so far all has been great.  They do require a minimum score and a lower score equates to higher interest rates.  They were great and friendly throughout the whole process and especially helpful as I was purchasing in a different state from where I lived at the time.  Their rates are hard to beat and minimal fees apply.  The only competition I saw at the time was Navy Federal as they had no PMI with 10% down.  Didn't matter much as I put down 20 but it was something to keep in mind.  The house I owned previously, I had my loan with countrywide and USAA customer service was much more favorable in my opinion.  Hope this helps!