USAA Mortgage Review 2025

USAA overview

USAA is a full-service bank that specializes in financial products, including mortgages, for current and former members of the military and their family members. Since its founding more than 100 years ago, USAA has originated over 1 million home loans, and it was the seventh-largest VA lender by volume in 2023. If you qualify, you can get preapproved online in just a few minutes.

Pros and cons of USAA

How Bankrate scored USAA

Affordability: 5/5

USAA’s mortgage rates often run lower than Bankrate’s averages, and the bank covers some loan fees, too. That brings its affordability score to a perfect 5 out of 5 stars.

• Interest rates: USAA’s rates tend to be competitive compared to the national average.
• Down payment: As with other lenders, USAA’s VA loans have no down payment requirement. For a conventional loan, the down payment could be as low as 3 percent.
• Closing costs: USAA’s closing costs typically range from 2 percent to 5 percent of the home’s purchase price, according to the bank’s website. Notably, the bank doesn’t charge origination fees on VA loans.

Availability: 4.9/5

USAA offers mortgages to eligible service members and veterans throughout the U.S. It scores 4.9 out of 5 stars for availability.

• Home loans offered: USAA works with service members and veterans nationwide, with a focus on VA loans (both conforming and nonconforming), although it does offer conventional mortgages as well. 
• Footprint: USAA’s mortgages are available in all 50 states. 
• Where to find: You can apply for a mortgage with USAA online or by phone.

Borrower experience: 3.7/5

USAA scores 3.7 out of 5 stars for borrower experience. While the bank’s customer service team works with members 24/7, it offers lower mortgage rate transparency compared to other banks and lenders.

• Preapproval and application process: USAA allows you to start the mortgage application process online via its website. Conveniently, you can save your application progress, then return if needed.
• Transparency: USAA doesn’t display current mortgage rates on its website beyond a single promotional rate. You’ll need to get in touch with a loan officer directly to learn your individual rate.
• Customer service:  You can reach USAA’s customer service team at 800-531-0341, Monday through Friday from 7 a.m. to 8 p.m. ET. 

USAA reputation

USAA isn’t accredited by the Better Business Bureau (BBB) and garnered an average 1.15 out of 5 stars from customers there at the time of this review. It also has a “bad” rating on Trustpilot.

Refinancing with USAA

USAA offers both rate-and-term and cash-out refinancing options. This includes VA streamline refinances, which come with quite a few cost benefits for members: no origination fee, plus USAA covers the cost of an appraisal, title services and the VA funding fee. For conventional refinances, you’ll pay $1,295 for loans in the amount of $129,500 or more, or 1 percent of whatever you borrow below that threshold. 

How to apply for a mortgage with USAA

You can apply for a mortgage with USAA online or by phone at 800-531-0341.