Posts: 5
Registered: ‎03-30-2009

Info on USAA home mortgage loans...

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?
New Visitor
Posts: 1
Registered: ‎04-11-2009

Re: Info on USAA home mortgage loans...

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.
New Member
Posts: 4
Registered: ‎06-26-2008

Re: Info on USAA home mortgage loans...

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!
My Happy Lil' FICO Scores:

Transunion: 801
Equifax: 806

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+