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Old 05-20-2010, 06:33 AM
 
369 posts, read 844,049 times
Reputation: 197

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We are shopping around for home lenders.Has anybody had any recent experience with using USAA as a lender? They have a way lower PMI over any other lender. Other lenders are telling me that's impossible. Does USAA close on time? Was there GFE pretty accurate? Any info you can give would be greatly appreciated!
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Old 05-20-2010, 06:37 AM
 
1,632 posts, read 3,326,784 times
Reputation: 2074
I have never used them (I don't qualify), but I've heard great things about them as an insurance company. I believe they're the only AAA rated company in that sector left after Berkshire Hathaway's downgrade.

They have also ranked tops in customer service the last few years, so although I have not used them, I'd be surprised if you had a bad experience with them.

https://www.usaa.com/inet/ent_utils/...ey=usaa_awards
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Old 05-20-2010, 06:45 AM
 
369 posts, read 844,049 times
Reputation: 197
Yeah USAA by far is the best for insurance. I have shopped around for auto, homeowners, renters, etc and USAA has way better rates and coverage.
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Old 05-20-2010, 06:50 AM
 
Location: Sugar Land
19 posts, read 62,792 times
Reputation: 20
I had my mortgage with USAA and they are a great company overall. It's possible to find cheaper rates through other entities (Penfed comes to immediate mind).. but their customer service and responsiveness is second to none. I didn't have to pay PMI so unsure about how competitive they are there. If it's useful to know, they typically sell their mortgages to other entities (GMAC being a big one) but you still deal with USAA directly
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Old 05-20-2010, 06:57 AM
 
41 posts, read 119,070 times
Reputation: 22
I called them once for home/ auto insurance but they informed me that their services are available only if you/ spouse/ parents have served in the military so we dont qualify
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Old 05-20-2010, 09:11 AM
 
Location: Pearland, TX
3,333 posts, read 9,173,790 times
Reputation: 2341
Quote:
Originally Posted by annie80 View Post
I called them once for home/ auto insurance but they informed me that their services are available only if you/ spouse/ parents have served in the military so we dont qualify
Since May 2009, that's no longer the case. Everyone can qualify for all USAA products.

Just sayin'...

Ronnie
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Old 05-20-2010, 09:30 AM
 
Location: San Antonio
3,536 posts, read 12,328,643 times
Reputation: 6037
I have everything but my mortgage with USAA (checking, savings, retirement, life insurance, car insurance, ect). We financed through a builder, but I plan on using them next time. They are amazing!
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Old 05-20-2010, 09:38 AM
 
Location: Spring, TX
460 posts, read 2,427,392 times
Reputation: 386
I've been a USAA member for almost 40 years, and have had numerous mortgage and home equity loans with them. All my insurance (home, auto, personal articles floater, umbrella policy) is with them, and they provide the service for my flood insurance (which wife requires even though we're not in a flood zone ). My current mortgage (closed 1 Feb this year) is also with them. Their customer service is outstanding. Yes, they've relaxed their participation standards over the years. I only hope this doesn't have a negative impact on their service levels or rates.
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Old 05-20-2010, 09:52 AM
 
Location: Texas
1,922 posts, read 2,778,297 times
Reputation: 954
We have USAA for our home and auto insurance, and also bank with them. They are far and away the best company I've delt with for those services. Can't speak for their mortgage department, but I would expect it is top notch.
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Old 05-20-2010, 10:38 AM
 
Location: Kennesaw, GA
60 posts, read 271,144 times
Reputation: 67
Default Usaa.

I closed with them in under two weeks back in 2008 to hit the last day of the month target. The closing was under their estimates. All was straightforward and above board. A friend of mine that is a state examiner saw nothing suspect and noted that USAA is not prone to misrepresentation.

I cannot tell what effect opening the organization to all has had, exactly. I will say that I am slightly suspect after an automobile wreck that totaled my vehicle (not my fault) had them shifting the base company. I have not gotten a straight answer, either.
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