Rate transparency: 4 of 5 stars. Loans backed by the U. Home equity loans and lines of credit are also unavailable at USAA. Because USAA's membership has traditionally relied on a long-distance relationship rather than a brick-and-mortar local presence, technology is key.
We prefill a large part of the mortgage application based on information in the member's profile — which reduces needless keystrokes and speeds up the process. When a user receives an official loan estimate , the data for his or her particular loan is rendered in real time as an explanatory video, breaking down all of the information contained in the estimate. Loan officers are typically available by phone Monday through Friday from 7 a.
Central Time and 8 a. Central Time on Saturday and Sunday. There is a single point of contact through the initial loan stage. One of the most important considerations when choosing a mortgage lender is understanding what the loan will cost. In order to provide consumers with a general sense of what a lender might charge, NerdWallet scores lenders on two factors regarding fees and mortgage rates:.
A lender's average origination fee compared with the median of all lenders reporting under the Home Mortgage Disclosure Act. USAA Mortgage earns 3 of 5 stars on this factor. A lender's offered mortgage rates compared with the best available on comparable loans. USAA Mortgage 4 of 5 stars on this factor.
Borrowers should consider the balance between lender fees and mortgage rates. While it's not always the case, paying upfront fees can lower your mortgage interest rate. Some lenders will charge higher upfront fees to lower their advertised interest rate and make it more attractive. Some lenders just charge higher upfront fees. You can decide to buy discount points — a fee paid with your closing costs — to reduce your mortgage rate. Deciding whether to pay higher upfront fees is a matter of considering how long you plan to live in your home and how much cash you have to apply toward closing costs when you sign the loan paperwork.
USAA mortgage rates are available online but are not customized by a user's credit score or loan details. The USAA rate webpage shows purchase and refinance mortgage rates, and makes it fairly easy to see if discount points have been applied to lower the displayed rate.
To get a customized rate quote, you'll need to contact a USAA loan officer or start an online application. More from NerdWallet. VA mortgage calculator. Get preapproved for your mortgage. Pre-qualification is not available for personal loans.
NerdWallet recommends comparing loans to find the best rate for you. Click the button below to pre-qualify and receive a personalized rate from lenders that partner with NerdWallet.
We collect over 45 data points from each lender, interview company representatives and compare the lender with others that seek the same customer or offer a similar personal loan product. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary. Our star ratings award points to lenders that offer consumer-friendly features, including: soft credit checks to pre-qualify, competitive interest rates and no fees, transparency of rates and terms, flexible payment options, fast funding times, accessible customer service, reporting of payments to credit bureaus and financial education.
We also consider regulatory actions filed by agencies like the Consumer Financial Protection Bureau. NerdWallet does not receive compensation for our star ratings. Read our editorial guidelines. Our Take 4. The scoring formula takes into account factors we consider to be consumer-friendly, including impact to credit score, rates and fees, customer experience and responsible lending practices.
Jump to: Full Review. Credit Score. No origination or prepayment fee. Existing customers can get a. Option to include a co-signer. No option to pre-qualify.
Charges late fee. Compare to Other Lenders. Get Rate. APR 5. APR 7. Loan Term 2 to 7 years. Loan Term 3 to 5 years. Credit Score Compare estimated rates from multiple lenders Compare Rates. Sign up now. USAA is best for borrowers who:. Would like to add a co-signer. Want fast funding. USAA at a glance. No origination or prepayment fees. Rate discount for autopayments. Loan flexibility. Funds loans the next business day. No pre-qualify option. Customer experience.
Offers mobile app to manage loan. Provides financial education. Where USAA stands out.
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