USAA Complaint - USAA Mortgage cheat and charge hidden fees to soldiers trusting them
SAN ANTONIO, TEXAS -- I applied for a VA home loan from USAA thinking that they are friendly to soldiers, but find out the hard way that they are so horrible that I closed all my accounts with them and got me a new account with a local friendlier bank.
they offered me an initial interest rate of 4.875 and while the rate is going down to 4.75, they called me and claimed that the interest rate went up to 5.2% and in order for me to keep this rate I will have to pay them $780 for discount points??????? discount??? the current rate is currently cheaper than what they originally quoted me and they are trying to scam $780 of hidden fees. also they try to process the loan as slow as they can so that the contract and the lock in of the interest rate expire, then they charge you fees to extend the lock, or they raise the interest rate on you.
also when you refuse their extremely expensive home insurance, and you shop for a cheaper and better insurance, they try to force you to buy insurance from them.
what happened to me was: I shopped around for home insurance and found a much better deal than what they offered me and it cost about the third of what they quoted me. I sent them the information to sign me up and finish the loan processing, but they waited until the day before the contract expire and then they called me and asked me to purchase insurance from them, they said we are still waiting for you to get home insurance, I replyed by saying: I sent you guys the home insurance info a long time ago, what happened to that. they first said we didn't get your message, and then they said oh yeah we did get your message but the ins company didn't answer their phone (bla bla bla).
I took the matter in my own hands, called the insurance company and had them call USAA and fax the insurance binder to the the same day.
the ins company told me that USAA is used to that kind of behavior.
another scam, is at closing, they don't give you the documents a day prior to you signing, following the regulations, they keep changing the closing documents until the last minutes, and add all kinds of unnecessary fees and charges, and they make sure that they absorb all your deposit money and eanest money. basically at closing you will end up paying and not getting anything back as they promise you at the beginning: you will get your money back at closing don't worry about a thing, and guess what? you end up paying.
Lastly, don't fall for thei Movers Advantage program, all it is, they have real estate agents working for them, they pay them commission, and in return the real estate agent will be working for them and not for you. they will add all kinds of fees to your closing cost to pay that agent their commission.
they claim to give you cash back if you use the Movers Advantage program but in fact they will charge you double or more at closing.
beware, besafe, bank with a Bank who Respect Us and What we do for our country, and not with a scammer bank.
if you need more details and advice on buying a home using a VA loan I will be happy to answer your questions and advise you, so you won't go through what I went through jguilmore at yahoo dot com.\