How do USAA and Wells Fargo compare?
- 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
- Choose this lender for down payments as low as 3%
- Watch out for hidden fees and scandals
- A good option for borrowers who want to automate their payments
Neither of these seems the right fit?
- Solid customer service
- Specialized help for military members
- Simplified mortgage process
- Low down payment
- Use gift funds
- Easy application process
- Slow customer service
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.
Reviews for this lender are mixed, but trend toward negative. First-time homebuyers recommend Wells Fargo for its thorough guidance through the home loan process. Other borrowers praise its mortgage specialists for their professionalism and helpful advice over the phone.
Of the complaints, the most frequent was of customer service's slow response time and the excessive documents needed to assess loan applications.
As of September 2019, Trustpilot gives Wells Fargo a rating of 1.5 out of 5 stars based on 157 ratings. The Better Business Bureau doesn’t give Wells Fargo a rating, but it gets a customer score on the site of 1 out of 5 stars based on 442 reviews, and the BBB has recorded over 1,000 complaints closed in the last year alone.
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