Last Updated: 04/18/2025
USAA Home Mortgage
Claimed
Last Updated: 04/18/2025
No Reviews Yet
This product has no reviews yet. Help others by sharing your thoughts.
Be the first to rateExplore a similar product
Try this top product in Home Mortgage Loans
New American Funding Home Mortgage
Strongly recommended46 reviews
Community Recommended Products
View AllSponsored
Strongly recommended46 Reviews
Learn MoreSponsored
Strongly recommended30 Reviews
Learn More
Strongly recommended36 Reviews
Learn MoreCompare All Home Mortgage Loans
Filter & compare all your options in one place.
Highlights
Credit Score Range
620 - 850
Disclaimer popup with additional information
Amount Range
$50,000 - $3,000,000
Disclaimer popup with additional information
Loan Term (Years)
10 - 30
Disclaimer popup with additional information
USAA Home Mortgage Review
USAA Home Mortgage is offered by USAA Federal Savings Bank (NMLS #401058), a bank founded in 1922 and based in Phoenix, AZ. USAA mortgage are available in 50 states and Washington, DC.
Key Takeaways
- Only two mortgage programs offered. USAA Home Mortgage provides FHA VA conforming and conventional mortgages.
- Specializes in multi-family properties. Only offers mortgages for multi-family properties, but not for single-family homes or manufactured homes.
- Refinancing for large mortgages. You can refinance mortgages with balances of up to $3,000,000 with USAA Home Mortgage.
- Standard interest rates types.
- Only primary residences considered. USAA Home Mortgage does not offer financing for vacation homes or investment properties.
- Fast process. In some cases you can close on your home loan within 2 business days.
- Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
- Origination fee of 1%. This is on the low end for lenders that charge an origination fee. However, some lenders don't charge an origination fee.
- Fair credit accepted. Borrowers with a credit score as low as 620 may qualify for USAA Home Mortgage.
USAA Home Mortgage Pros & Cons
| Pros | Cons |
|
|
USAA mortgage FAQ
How much can you borrow via USAA Federal Savings Bank?
USAA 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 mortgage?
USAA 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 mortgage rates does USAA Federal Savings Bank offer?
Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.
What is the estimated funding time?
USAA mortgage will typically fund mortgages within 2 and 3 days of approval.
Do they charge mortgage origination fees?
Yes, USAA mortgage may charge a loan origination fee of 1% of the loan amount .
What mortgage programs are available?
Besides conventional mortgages, USAA mortgage offers the following mortgage types:
- FHA loans: FHA loans are mortgages insured by the FHA. They offer competitive mortgage rates and have less stringent eligibility requirements. However, borrowers must pay a mortgage insurance premium. For instance, you can apply for an FHA loan with a credit score as low as 580. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
What property usage types does USAA mortgage allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. USAA mortgage allows the following property usage types:
- Primary home
What is the customer service phone number?
The customer service number for USAA Home Mortgage is (800) 531-8722.
What is the support contact email?
The support contact email for is info@usaa.com.
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 mortgage
Other Services by USAA Federal Savings Bank
Boaters Insurance
Rating not yet determined (3 Reviews)
Car Insurance
14
3
7
24 Reviews
Homeowners Insurance
30
10
44 Reviews
Life Insurance
11
11 Reviews
Mobile Home Insurance
Rating not yet determined (4 Reviews)
Motorcycle and ATV Insurance
Rating not yet determined (2 Reviews)
Personal Watercraft Insurance
Be the first to rate
Renters Insurance
5
10
16 Reviews
Specialty Homeowners Insurance
Be the first to rate
Travel Insurance
5
5 Reviews
Umbrella Insurance
Be the first to rate
Community Recommended Products
View AllSponsored
Strongly recommended46 Reviews
Learn MoreSponsored
Strongly recommended30 Reviews
Learn MoreStrongly recommended36 Reviews
Learn MoreSuperMoney Net Recommendation Score
This product has no reviews yet. Help others by sharing your thoughts.
0
-1000+100
No one recommends
Everyone recommends
USAA Home Mortgage Community Reviews
Would you recommend USAA Home Mortgage to your friends?
There are currently no reviews.
