USAA (United Services Automobile Association) is a group of companies that provides financial services for people and family members who have served in the United States military. It is based in Texas and provides banking, investing, and insurance services. USAA mortgage rates include fixed-rate and adjustable-rate mortgages in two categories: home mortgage rates and VA mortgage rates. This article will provide useful, up-to-date USAA mortgage information.
USAA Current Mortgage Rates
The USAA mortgage rate information can be found on the USAA website, under USAA Bank Mortgage Loans.
|Type of Mortgage Rate||Interest Rate||APR(Annual Percentage Rate)||Estimated Monthly Payment|
|VA 30-Year Fixed Rate||4.000%||4.280%||$1,413|
|VA 15-Year Fixed Rate||3.625%||4.117%||$1,900|
|Conventional 97 30-Year Fixed Rate||4.875%||4.979%||$1,516|
|Conventional Loan 30-Year Fixed Rate||4.250%||4.391%||$1,442|
|Conventional Loan 15-Year Fixed Rate||3.500%||3.688%||$1,888|
*** Disclaimer: The rates, terms, and fees listed above are subject to change without notice, and users should access the bank’s site for the latest updates.
USAA Mortgage Rates Additional Info
USAA Home Mortgage Rates
The USAA offers one of the most competitive market rates for its home loans, especially for veterans. It provides several types of loans, including VA and FHA mortgages. 30-year mortgage rates, 20-year mortgage rates, and 15-year fixed rate mortgages are all available. Same, you can receive adjustable rate mortgages (ARMs) with a 5-year initial term. The interest rates and APRs are different for refinance mortgage rates and purchase mortgage rates, but both are available.
In addition, you can access jumbo loans from USAA on mortgages over $417,000. The rates for jumbo mortgages follow market value, and usually run slightly higher than the mortgage rates trend for standard conforming mortgages.
USAA VA Mortgage Rates
Furthermore, USAA provides special VA mortgage rates for its veteran members or their spouses. USAA’s VA loans provide 100% financing for veterans and active-duty military members. As a plus, there is no down payment required and no PMI. Its Conventional 97 loans provide a down payment of as little as 3 percent for a primary home, with PMI. You can receive conventional loans with a down payment of as little as 5 percent, and you don’t have to pay the PMI, with a 20% down payment.
USAA provides several different USAA mortgage rates for its members, including VA and conventional rates with different terms. If you are currently shopping for a house, you can become pre-approved for a USAA mortgage through the USAA website. Once the company pre-approves your application and you possess a contract for a home purchase, you can finish the process with USAA Mortgage by calling the company’s toll-free number at 1-800-531-8722. Even more so, you can contact USAA’s customer support team by going to their customer support page.
The requirements to qualify for USAA loans are a minimum credit score of 620, with a loan amount between $50,000 (minimum) and $3 million (maximum). USAA origination fee is of 1% on home loans. With 65% of loans backed by VA, USAA mortgage rates are really competitive.
Recommended read: USAA Mortgage Account Login