Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
So, we submitted a request with USAA to have our construction loan turned into a mortgage loan. They said that it had to be 95% done which at this point....it is. It is in complete livable condition with working bathrooms, etc. There are still a few different things that need to be done but nothing big.
The house is in rural Vermont. The appraiser contacted us on 17 March (Sunday) and said she was going to look at it that week....she wound up waiting until Friday to go see it which was 22 March and so we expected the appraisal in shortly after that. It is still not in. We have called USAA and they contacted the 3rd party who says that she will be submitting something, etc., etc....and nothing comes in. Our rate lock expires on 23 April and we are beside ourselves. We are going on a 3 week long trip the first week of May and would have liked to of seen this finished.
We found out that the appraiser emailed our GC and builder this weekend and asked him what he thought the home was valued at saying that she couldn't get comps for it because there was nothing in a 10 mile radius that was remotely similar. This is rural Vermont....there is hardly anything within a 10 mile radius. To get the construction loan, the appraiser had no problem but we also used a local bank so obviously it was a different appraiser.
I thought of writing a letter to USAA to try and get someone's attention because I feel like we are just getting lip service on the phone....and it has gotten ridiculous at this point.
Call USAA and let them know the circumstances. I use the same insurance company. SOMEONE will get you an answer. They've been attentive to my needs since my membership in 1997.
Call USAA and let them know the circumstances. I use the same insurance company. SOMEONE will get you an answer. They've been attentive to my needs since my membership in 1997.
While good at insurance, they're notoriously bad at mortgages.
We've been on the phone with USAA a number of times over the last month....several times a week. It is not a VA loan. It is being treated as a Refi...straight 30 year at 3.25% (3.5%apr) - 1 point.
We've been on the phone with USAA a number of times over the last month....several times a week. It is not a VA loan. It is being treated as a Refi...straight 30 year at 3.25% (3.5%apr) - 1 point.
Looks like you'll be sacrificing 1/8% or 0.75 points to re-lock at today's rates. I was thinking it could be the VA since they take longer with all their rules, but you're not using them.
Have you shared the previous appraisal with USAA or the appraiser? What do they tell you on the phone? It seems the appraiser doesn't know what they're doing. "What do YOU think it's worth?" "huh? Isn't this YOUR job?"
I know....it's just crazy and I know the appraiser doesn't know what she's doing.... We did let her know what the last appraisal was for.... The GC/builder spoke with her yesterday and she claims she's turned in numbers - but she claimed that before. However, she did not know some key points with the house, type of roofing system, etc., etc....which may make a difference since it is a custom home.
Sigh....I thought of writing a letter to USAA to get someone's attention....we are just so out of time. I'm not quite sure how they let it go for so long. The person on the other end of the line yesterday was shocked that the appraisal was ordered well over a month ago...
I guess I am just so frustrated....beyond frustrated....this shouldn't have been that big of a deal.
I know....it's just crazy and I know the appraiser doesn't know what she's doing.... We did let her know what the last appraisal was for.... The GC/builder spoke with her yesterday and she claims she's turned in numbers - but she claimed that before. However, she did not know some key points with the house, type of roofing system, etc., etc....which may make a difference since it is a custom home.
Sigh....I thought of writing a letter to USAA to get someone's attention....we are just so out of time. I'm not quite sure how they let it go for so long. The person on the other end of the line yesterday was shocked that the appraisal was ordered well over a month ago...
I guess I am just so frustrated....beyond frustrated....this shouldn't have been that big of a deal.
Call up your loan processor at USAA and get a conference call going with the appraiser. Someone is dropping the ball and you need to nail down who it is.
You can also leave a review on their website. Looking at previous reviews, it seems it is a good way of getting their attention. I see responses from USAA all the time saying they're "looking into your specific case."
I would ask for another appraisal to be ordered by a different appraiser, at their cost not yours.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
