Navy Federal Credit Union vs. USAA mortgages | finder.com

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Navy Federal Credit Union vs. USAA mortgages

One has loans with 0% down and no PMI, but you may have to wait longer to get approved.

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How do Navy Federal Credit Union and USAA compare?

Navy Federal Credit Union logo
USAA logo
  • Choose this lender for 0% down and no PMI loan options
  • Be wary of a slow approval process
  • A good option if you’re a member of the military
  • Choose this lender for access to a variety of VA loans
  • Choose another lender if you’re not a USAA member
  • A good option for military members and veterans

Loans offered

  • Conventional
  • Refinance
  • Jumbo
  • Home Equity
  • FHA
  • VA
  • USDA
  • Conventional
  • Refinance
  • Jumbo
  • Home Equity
  • FHA
  • VA
  • USDA

Minimum credit score

Conventional: 620

Conventional: 620

States available

Available in all states

Available in all states

Pros

  • Select loans require 0% down and no PMI
  • Special benefits for qualifying military service members
  • Fewer fees on select mortgages than other companies
  • Rate match guarantee: If you find a better rate with another lender, Navy Federal will match it. If it can’t, it’ll give you $1,000 after you close with the competing lender.
  • Solid customer service
  • Specialized help for military members
  • Simplified mortgage process

Cons

  • Requires NFCU membership
  • Online complaints relate a long approval process and poor support
  • Members only

Customer reviews

Member reviews for Navy Federal are generally positive. The credit union has a 4.7-star rating from 621 reviews on Trustpilot as of October 2020, where most customers say they felt the company was empathetic and met their needs. Others say they received loans through Navy Federal that they wouldn’t have been approved for elsewhere. NFCU has an A+ rating with the Better Business Bureau (BBB) and has responded to 889 complaints in the last three years. But out of 116 customer reviews, the lender only scores 1.19 stars. Most negative reviews focus on poor customer service experiences and slow responses from the loan department.
USAA home mortgages is not accredited by the Better Business Bureau (BBB), where it earns a B- rating. And with more than 430 reviews left on the site, it earns just over 1/5 stars. Customers complain of paperwork beyond what they expected and poor communication and transparency. On Trustpilot, USAA gets 2/5 stars, with some customers praising its excellent customer service and low fees while others complain of fraudulent account activity and higher APRs than promised. Though these reviews are for USAA as a whole, and not necessarily its mortgage products. For unfiltered feedback, check out USAA’s Member Community online. USAA responds to most inquiries on the forum, even forwarding negative reviews to more senior departments to sort out any issues.

Compare mortgage lenders

Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.
Name Product Loan products offered State availability Min. credit score
Better.com
(NMLS #330511)
Better.com
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
620
Online preapproval in minutes and no origination fees with this direct lender.
Axos Bank
(NMLS #524995)
Axos Bank
Conventional, Jumbo, FHA, VA, Home Equity/HELOC, Refinance
Available in all states
620
Purchase, refinance, and home equity options available with lender fees as low as $0 (restrictions apply).
SoFi
(NMLS #1121636)
SoFi
Conventional, Home equity, Refinance
Not available in: AK, HI, MO, NH, NM, NY, SD, WV
620
No hidden fees, multiple loan terms, and member discounts available.
LendingTree
(NMLS #1136)
LendingTree
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
620
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More guides on Finder

  • USAA vs. Bank of America mortgages

    While both of these big-name lenders are available nationwide, one is better for military members, but the other offers more home loan options.

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