VA Home Loans

1) VA loans require a one-time fee called a VA funding fee which may be collected at closing or rolled into your loan. The fee is determined by the loan amount, your service history, and other factors. A down payment on your VA loan may be required in certain circumstances and maximum loan limits vary by county.

2) VA IRRRL: All VA rules, guidelines and additional program requirements will apply. Except as provided by applicable VA guidelines, the same parties obligated on the original loan must be the parties on the title and obligated on the new loan. Proceeds from the new loan will only be used toward payment of the original loan amount. No cash back can be received from the new loan. Payment of discount points, taxes, insurance and HOA fees are the responsibility of the borrower. Other exclusions apply. Refinancing either to lower the monthly payment or change from a variable-rate to a fixed-rate loan could result in an increase in the total number of monthly payments and interest charges paid over the full term of the new loan.

3) USAA Bank covers the appraisal, title and VA funding fee on a VA IRRRL. Payment of discount points, taxes and insurance and HOA fees are the responsibility of the borrower.

4) In 2022, USAA Bank originated the 4th highest total of VA purchase home loans and ranked in the top 10 lenders for the highest amount of VA loan volume among more than 1,300 lenders. Source: Department of Veterans Affairs Lender Statistics..

5) Average savings of $2,457 calculated based on the average amount of all fees covered by USAA Bank for VA IRRRLs obtained by members between Jan. 1, 2021, and Dec. 31, 2021. Fees vary and individual savings may differ.

Use of the term "member" or "membership" refers to membership in USAA Membership Services and does not convey any legal or ownership rights in USAA. Restrictions apply and are subject to change.

A home loan refinance may be useful for many customers who want to lower their monthly debt payments. However, a refinance is secured by your home, has closing costs and may ultimately require paying more in interest over time.

Home loans subject to credit and property approval.

USAA Bank Mortgage offers mortgage products to members where the property is located within the Continental United States, AK, HI and DC. Excludes properties within U.S. Territories.

Minimum loan amount requirements may apply.

Bank products provided by USAA Federal Savings Bank, Member FDIC.

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