USAA which stands for United Service Automobile Association is a renowned and reputable Insurance, Banking, Investment, and Retirement Company based in San Antonio. The Company has served Millions of Military members and their families with competitive and affordable rates on Insurance, banking, and investment services. However, one of the USAA Banking Services is its Home Mortgage which is very convenient and simple to apply for. USAA provides customers with a VA loan that comes with several amazing benefits and features for all military members and their relatives. So if you have been searching for the best Mortgage Company that provides you with a VA Loan, you can visit USAA today to get started.
With USAA Mortgage, you find the perfect VA home loans that suit your income. USAA provides you with a VA Loan, VA Jumbo Loan, and a VA Home Loan Refinance. Unlike other Mortgage company that requires you to go through a long process before getting preapproved. The USAA Mortgage doesn’t take a long process as you can get preapproved online within a few minutes. Its application process is easy and not complicated. Once you find a home, your Loan Officer will help you complete the mortgage application. You can search and find the right mortgage rate for you on the USAA Platform as its services can be accessed online.
USAA Mortgage Rates
As stated above, USAA provides you with the best Mortgage Rates. Meanwhile, this totally depends on the type of VA loan you are applying for on the platform. You will agree with me that, one of the most important things to consider while choosing a Mortgage lender is understanding its rates. The Fixed Rate Loans of USAA Mortgage for the VA Loan includes; Interest 2.8755, APR 3.082%, and its point are 0.00. On the other hand, the VA Jumbo Loan by USAA Mortgage includes; Interest of 3.000%, APR 3.208%, and its Point is 0.125. However, if you want to get a rate estimate specific to you. You can call 800-531-0341 Nevertheless, the USAA Mortgage Rate is affordable plus it is available online for easy and convenient access.
USAA Mortgage Eligibility
USAA is amongst the best and top companies that enable you to purchase your own home. However, its services can only be accessed by a few people as it is not available for all. You will need to join USAA to access its products and you can do so only if you are eligible. Its Membership is open to veterans and active duty or honorably discharged members of the following; U.S Air Force, Army, Coast Guard, Marines, Navy, and U.S National Guard, and Reserves. Also, widowers, widows, and un-married former spouses can also qualify for the USAA Mortgage Service.
Steps to Apply For USAA Mortgage
In this part of the article, steps and instructions to follow in order to successfully apply for the USAA Mortgage will be provided below. Here are the steps and guidelines to follow;
- Visit the official Mortgage Page of USA Online
- Get preapproved Online; to get preapproved with USAA, you will need to tell USAA about your Finances. You credit will be checked and you will get a preapproval letter to help you negotiate well with seller.
- Complete your USAA Mortgage Application Form; you need to complete your Mortgage application form by proving your income statement such as Award letter or Pay Studs. Also, your current bank statement and other supporting document will be required.
- Review your Application form by checking if your supporting document matches with the application and if the title is clear.
Finally, once your Paperwork has been approved, you will get the keys to your new home. However, you will need your ID; a driver’s license, Passport, or Military ID and Check or a wire transfer to cover your closing cost and down payment.