Find a smaller bank that can everything IN HOUSE. The big banks are terrible for customer service and getting things done on time - plus nothing but trouble for things like appraisals, etc., where you need a connection to a local person who knows our market.

Used both. Both suck. Go with who has the lower rate. Usaa sold our mortgage after saying they do not. Pen fed lost our refinance paperwork and we had lots of problems.

We have had 2 mortgages with Penfed and refi-ed twice with them. They are slow. You will need to stay on top of them and push them to get it done quickly, otherwise, it will drag quite a while. That being said, they are cheap, typically pay all closing costs, etc.

We had a lot of problems with our USAA mortgage, such as our property taxes not being paid on time, or the improper amount being paid.

Anonymous wrote:

Anonymous wrote:I love USAA but have never been able to get them to compete on mortgage rates. Someone always can do better. So I have never had a mortgage from them. I have heard excellent things about Navy Fed.

This was our experience as well.

NP and I agree with this. We use USAA for everything--EVERYTHING, but mortgages. Shop around and you'll get a better rate.

Call a broker. Their rates on VA loans are often (if not always) better than going straight to the bank.

OP here, thank you everyone for your responses, it has been very helpful.

We refi'd with penfed for a 5/5 arm at 3.125. Great rate but very slow and we had to chase down the loan officer. Once signed no problems, and we paid no closing costs.....

PenFed is notoriously slow if this is for a new mortgage. If this is for a refinance that doesn't matter so much.

Anonymous wrote:I love USAA but have never been able to get them to compete on mortgage rates. Someone always can do better. So I have never had a mortgage from them. I have heard excellent things about Navy Fed.

This was our experience as well.

I love USAA but have never been able to get them to compete on mortgage rates. Someone always can do better. So I have never had a mortgage from them. I have heard excellent things about Navy Fed.

I have a USAA / Wells Fargo home loan. Good rates and no major issues.

USAA is like a middle man with mortgages. It's actually Wells Fargo that holds the mortgage. When I asked USAA what the benefit of going through them was, instead of going straight to Wells Fargo, they said there isn't one.

So I went with Navy Fed-- very happy with their service.

USAA was really picky. I won't use them again.

Penfed has terrible customer service for other things - have not used them for a mortgage.

I've heard some horror stories about USAA's mortgage process for VA loans, but the reviews for Penfed aren't much better. Which one would you recommend or any other options?
TIA