First let me say that USAA's banking and insurance is 5 stars. Based off my great experience with their banking and insurance side of the house, getting a VA loan through them was a no brainer.
The loan originator was very professional but then things went down hill after I sent in the purchase contract. I wrote a check for the earnest money, ordered home and termite inspection.
My processor was not at work for 2 weeks out of the first 3 weeks my loan was in processing due to personal issues. So I dealt directly with her manager. My real estate agent wasn't even contacted during the first 2 weeks by either processors.
I was informed on numerous occasions that I was missing paperwork. I informed USAA that the documents were uploaded to their website. On every occasion, USAA found the documents were properly uploaded into their system.
Communication between my real estate agent and USAA was almost non-existent. She received numerous emails stating that she did not send required documents to USAA. I was cc'd on all the emails and my agent kept requesting that USAA confirm delivery of the documents; in which case, they never did. We finally ascertained that USAA cannot receive attachments larger than 10-15 megs. How on earth does a mortgage company have attachment limitations?
Almost a month later, the appraisal came back and our offer was under the appraised value. Great! A week prior to closing, I receive the commitment letter from USAA. I requested 10 days of vacation for closing and moving.
Big mistake because 2 days later (4 days from closing), I was informed by USAA that the HOA for the property is not on the approved VA list and our loan would be dead. How was this not discovered the first week of processing? After spending over $1200 in inspections, appraisals, faxing etc etc I get told this 4 days prior to closing?
Needless to say, we found another home and ended up using a different lender. I will always recommend USAA's banking and insurance but be aware of their mortgage side of the house!
