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USAA Home Mortgage

in Home Purchase Mortgages from USAA · NMLS ID #401058

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USAA Home Mortgage

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Highlights
Highlights
Loan Amount $50,000 - $3,000,000
Loan Term (Years) 10 - 30 years

USAA Home Mortgage Review

USAA Home Mortgage is offered by USAA (NMLS #401058), a financial services company founded in 1922 and based in San Antonio, TX. USAA Home Mortgage is available in 50 states (and Washington, DC).

USAA Home Mortgage FAQ

How much can you borrow via USAA Home Mortgage?

USAA Home Mortgage 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 is the maximum loan term you can get with USAA Home Mortgage?

USAA Home Mortgage offers mortgages with terms ranging from 10 to 30 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What range of rates does USAA Home Mortgage offer?

USAA Home Mortgage offers home loans with APRs starting at 3.590% and up to 5.731%.

What is the estimated funding time for a home loan via USAA Home Mortgage?

USAA Home Mortgage will typically fund mortgages within 2 and 3 days of approval.

Does USAA Home Mortgage charge a mortgage origination fee?

Yes, USAA Home Mortgage may charge a loan origination fee of 1% of the loan amount.

What mortgage programs does USAA Home Mortgage offer?

USAA Home Mortgage 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 Home Mortgage allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. USAA Home Mortgage allows the following property usage types: 

  • Primary home
USAA Home Mortgage Disclosure: Obtaining a mortgage from USAA Federal Savings Bank is optional and not required to use USAA's Real Estate Rewards Network. The mortgage may be acquired from other lenders. Loans subject to credit and property approval. Rates subject to change without notice. The rate you may receive will depend on your individual circumstances, including your credit history, loan amount, down payment and our internal credit criteria. For example, a typical 30-year conventional $225,000 loan with a fixed rate of 4.00% (4.259% APR) would have 360 monthly principal and interest payments of $1,074.18. A 1% origination fee applies. Property insurance is, and flood insurance may be, required. Private Mortgage Insurance (PMI) may be required for loans with less than a 20% down payment. Other rates and terms available. Additional restrictions apply to Texas home equity loans. VA loans require a VA funding fee collected at closing. The fee varies with the amount of the down payment and is higher with no or low down payments. Maximum loan limits vary by county. The VA funding fee is nonrefundable. Membership eligibility and product restrictions apply and are subject to change.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From USAA

USAA membership offers exclusive benefits, products and discounts for U.S. military members and their eligible family members. Our level of service and commitment to you is superior to any other major financial service provider.

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Origination Fee (%) 1%
Credit Score Range 620 - 850
Intended Use Primary Home
Minimum Age 18
Primary Residence  
APR 3.590% - 5.731%
Loan Amount $50,000 - $3,000,000
Loan Term 10 - 30 years
Interest Rate Types Offered N/A
Mortgage Programs
  • FHA
  • HARP
  • VA
Terms 10, 15, 20, 30 years

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