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USAA

in Mortgage Refinance

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USAA

Claimed

in Mortgage Refinance

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Overview

Where does USAA do business?

USAA is a bank based in San Antonio, TX. The company was founded in 1922 and offers mortgage refinancing to borrowers in 50 statess across the USA (and Washington, DC). NMLS #401058

What is the maximum loan term for a mortgage refinance via USAA?

The term of a mortgage refinance will determine the cost of your monthly payments. Longer terms will typically reduce your monthly payments but it will also increase the interest you pay. USAA offers mortgages refinancing with terms ranging from 10 to 30 years.

What is the estimated funding time for a mortgage refinance with USAA?

USAA will typically approve (or deny) a mortgage refinance application within 1 hour and fund mortgage refinances within 0 and 1 days of approval.

Does USAA charge a mortgage origination fee?

No, USAA does not charge a mortgage origination fee.

Some lenders charge an origination fee for processing, underwriting, and funding a mortgage. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does USAA charge prepayment fees?

No, USAA does not charge prepayment fees. This means you will not have to pay additional fees if you decide to repay the mortgage early.

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.
  • 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
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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

No Origination Fee
No Prepayment Fee
Minimum Age
18
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Military Status
  • Active Duty Military
  • Military Dependent
  • Veterans
Joint Loan Applications Accepted
  • Only Individual Applications
Intended Use
  • Primary Home
Verification Documents Required
  • Recent Pay Stubs
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Loan Term (Years)
10 - 30
5 40
APR
2.49% - 13.85%
1% 8%

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