Where does USAA do business?
USAA is based in San Antonio, TX. The company was founded in 1922 and offers mortgages to borrowers in 50 states (and Washington, DC).
How much can you borrow via USAA?
USAA allows borrowers to apply for loan amounts of up to $3,000,000. Note that the maximum loan amount you can borrow will also vary depending on the type of mortgage you choose, regardless of the lender you choose.
What range of rates does USAA offer?
USAA offers home loans with APRs starting at 5.072% and up to 5.731%.
What is the estimated funding time for a home loan via USAA?
USAA will typically fund mortgages within 2 and 3 days of approval.
Does USAA charge a mortgage origination fee?
Yes, USAA may charge a loan origination fee of 1% of the loan amount.
What mortgage programs does USAA offer?
USAA offers the following mortgage types:
- Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
- FHA: Mortgages insured by the FHA, which usually have less stringent eligibility requirements, but borrowers must pay a mortgage insurance premium. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
- HARP: A mortgage refinance program for home loans owned or backed by Fannie Mae or Freddie Mac. No minimum credit score or value appraisal required.
- VA: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses.
What property usage types does USAA allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. USAA allows the following property usage types:
- Primary home
9800 Fredericksburg Road
San Antonio, TX 78288 USA
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Other Services by USAA
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia