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4.8

Overall Score

Author: Kalicia Bateman

LAST UPDATED: April 12th, 2022

Founded in 1922 by a group of military servicemen, USAA provides financial services specifically for members of the United States military and their immediate family.

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The Good

  • Competitive Interest Rates
  • Frequent Customer Communication
  • Mobile App

Competitive Interest Rates

As of December 2016, for a borrower with excellent credit purchasing a $250,000 home with a $50,000 down payment and a 30-year fixed rate loan from USAA, the interest rate comes out to be 4.50 percent. This is very competitive with interest rates offered by other top companies in the industry.

Frequent Customer Communication

USAA strives to make the home loan process simple and secure for its customers by providing them with frequent updates about the status of their loan.

Mobile App

USAA provides its borrowers with a mobile app that is compatible with Apple, Android, and Windows devices. Customers can use this app to view and manage their loan from their smartphone or tablet.

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The Bad

  • Limited Information

Limited Information

USAA has not disclosed closing costs or minimum credit score requirements on its corporate website.

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The Bottom Line

USAA offers competitive interest rates, frequent loan updates, and a mobile app. However, the company is not entirely transparent on its website.

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Star Rating

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2.8

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15 Reviews

Review Breakdown

5 grade

40%

4 grade

0%

3 grade

7%

2 grade

0%

1 grade

53%

Sentiment Criteria

Value

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Quality

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Service

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Trustworthiness

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Review Source

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Michelle Crane Phoenix, AZ

When we were buying our first home and looking for a company to finance our loan we looked into USAA. I have been a USAA member since I was 13 and have always been impressed with their excellent customer service. When going through the process I was confused at some of the questions asked about our finances and income so I called in and didn’t even have to wait on hold for long. The customer service agent explained everything and helped me through the process of obtaining a pre qualification letter so that we could see how much we would be approved for.

4 years ago Edited April 14, 2022

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Review Source

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Erik Lewis Atlanta, GA

Twenty-four years of having a mortgage with USAA has taught me to appreciate their attention to detail and service philosophy. I bought my first house with them in 1995 and it has been a great experience from start to finish.

5 years ago

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D tyler

Friendly, efficient and timely response. Have always told me when, where and how to resolve a claim.

8 years ago

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Natalie Shuman

USAA has knowledgeable employees who are proficient and skillful and works for the buyer.

8 years ago

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James Strassburg

I purchased and refinanced my home and USAA was easy to work with

6 years ago Edited September 14, 2021

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Mark

great service and rates could not beat them in the market place 15 years ago

8 years ago