USAA or NavyFed mortgages

[SVTsupremecy]

Fixing to buy my first home/condo in the next month or so. I wanted to see if anyone had any positive/negative experiences with mortgages from these financial institutions. I currently bank with USAA but ive heard good things about Navyfed. Also any words of wisdom for a first time home buyer is very much appreciated. I feel so clueless to the whole process even after doing some light research.

 

[Gamble13GT]

I used Veteran's United for mine VA home loan and it was amazing IMO. Low rate and stood by me the whole time.

 

[einehund]

FWIW, Look at the reviews for USAA morgages.... My realtor even told me if I was planning on financing with USAA, he wouldn't do it... I have USAA for insurance and banking, but after reading the reviews across multiple mediums, I went with Wells Fargo.

 

[SVTsupremecy]

FWIW, Look at the reviews for USAA morgages.... My realtor even told me if I was planning on financing with USAA, he wouldn't do it... I have USAA for insurance and banking, but after reading the reviews across multiple mediums, I went with Wells Fargo.

I noticed that, I wonder why their customer service is so bad regarding mortgages.

Thanks for the input gamble13GT. I will definitely keep them in mind.

 

[fcettner]

I did a mortgage and refinance with Navy Federal and had a great experience. When I did the refinance at a lower rate, I will pay my mortgage off 5 years early and save 150 bucks a Month on payments. They came to me to sign the paperwork so everything was done on FAX machine and internet. I used my VA benefits to execute, but I was very pleased in their customer relations.
Funny my boss refinanced his home at the same time and had a few issues. His service rep was replaced and things worked out great. So I would make sure you have a good customer service rep and ask how much experience he/she has so the loan goes smooth.
I have USAA for car/house insurance and have no other banking experience with them.

Good luck with your experience.

 

[ticopowell]

My roommate just closed on a house with USAA and hated it. I didn't use them when I bought my house, went with the builder's recommended financer and saved some money compared to the USAA quote, and it was fairly easy to do everything.

Words of wisdom for a house: If the house has a warranty make sure to use it! Have them fix anything and everything you can, saves you time and money! If it is a not new house try and have the seller include a warranty when you buy it, it doesn't cost a whole lot and it can cover a lot.

Good luck!

 

[einehund]

I second the home warrantee. We made that a clause in the selling agreement that 1 year home warrantee would be included. in the first month owning the house, it saved me $1200. We renewed the home warrantee ourselves this year and it was $470 for the year. Well worth the cost IMO.

 

[Serpent]

I've always heard good things with USAA when it came to insurance.

I used NavyFed when it comes to banking and loans. Look forward to using them with home loans. It also helps to have good credit

 

[VerySneaky]

PenFED also has good interest rates.

USAA for auto insurance.

Navy or PenFED federal credit unions for mortgage/loans.

 

[ImThatGuy]

Ive always had good luck with USAA, they are like a sore dick, you just cant beat it.

 

[SVTsupremecy]

thanks for the advice guys, looks like im going through with Navy Fed

 

[Sirraf]

Another Veteran's United Home loans here. People will scoff when I say this but I closed on my house in 19 days after offer with average credit. I closed on the house about 2 weeks ago. Veterans United is OUTSTANDING and very easy to use. I might have talked on the phone 3-4 times. Email was the main source of correspondence.

USAA for my insurance however...

 

[wraitherlx]

Navy fed here and the experience was great.

 

[evolve]

Check rates on both. Ask for incentives. Both are good to work with.

 

[PhoenixM3]

Fixing to buy my first home/condo in the next month or so. I wanted to see if anyone had any positive/negative experiences with mortgages from these financial institutions. I currently bank with USAA but ive heard good things about Navyfed. Also any words of wisdom for a first time home buyer is very much appreciated. I feel so clueless to the whole process even after doing some light research.

I just closed escrow using NFCU and it was relatively painless. When my realtor asked if I was using USAA, she informed me that they typically take much longer to close. Anyway, good luck. Are you using a VA COE?

 

[sosslow]

If anyone wants the worst home buying experience ever then I highly recommend USAA. 45 days to close, zero communication, a closing date that was changed 3 times, and lost paperwork that had to be resent several times. I want to falcon punch the overies of the chick that recommend USAA.

 

[lobra97]

i couldn't get approved with either but got in with wells fargo...4% for 30 years with a 621 credit score, barely passed by 1 pt for a VA loan.we have been in this house for 3 years, time flies OP