Confused – Next Step

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This topic contains 11 replies, has 6 voices, and was last updated by  msleslie 5 months ago.

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    I am confused about what should be happening with my file right now.

    I made an offer on a house. It was a Sunday. I received the Property Specific Approval Letter. My agent sent in a copy of the contract. This was all done on 11/26/18. What should the next step be? My NACA status still shows house search. I am confused. Thanks for any help.


    I am in the same step as you are.

    My offer was accepted Friday, November 30th at 6:36pm.

    Your agent sent a copy of the contract, which means you e-signed and initialed the 12page Purchase and Sale contract.

    Next the seller accepts or counters your offer and if you both agree on terms you sign again on the revised contract. You get the contract back with seller’s initials and signature then you print and hand sign/initial above every place you e-signed (NACA does not accept electronic signatures).

    Take a picture of the Earnest Money Deposit check and send it to your realtor.

    Schedule Home Inspection

    Shop Homeowners Insurance

    I have done all of this, as of last night I am still on housing search. I did notice my MC scheduled time to work on my file yesterday. Next step I believe is Credit Access.



    Your next step should be credit access.
    You or your realtor should send in these items to your MC
    – P&S Contract-signed by everyone
    – Addenda
    – Copy earnest money deposit
    – Transaction Summary NACA sheet
    – Multiple Listing Service Sheet (“MLS”)
    • You contact your MC to schedule a meeting to update your file for credit access.
    The above info was taken from the Purchase Workbook you should have gotten from your Purchase Workshop. The info is online too,
    Page 26 and 39 should be where you are at



    Contact your MC as soon as possible so you can be submitted to Credit Access. You should not wait for your MC to contact you because they are usually very busy. In this case, you should take the initiative to make sure that the wheels are turning in your favor.



    Thank you everyone. I believe I am being submitted for credit access. My MC has requested a bank transaction summary, updated rental verification, and a signed 4506-t and a LOE because my salary increased more than 10%. I am c really hoping to get the lower interest rate that is posted right now.



    Hello Jonathan Hodge,

    Unless some sort of unexpected problem arises, you should be cleared for Credit Access and ready to submit your bank app by Monday. Your rate will be locked in when the app is submitted.

    Tim Trumble
    Online Operations, NACA


    Thanks Tim Trumble!

    My status changed today from Credit Access Request to Pending. NACA emailed me to provide the following;

    1) Escrow Money Deposit (EMD) Letter. /// settlement agent or realtor

    2) Cancelled Check (front and back) with URL visible /// member

    What is the cancelled check? All I have is the personal check I wrote out and provided picture to my RE Agent. The $1,000 is still in my account.



    @Jonathan Hodge how long ago did you write the check? Sounds like it hasn’t cleared if the $1000 is still in your account. If you have online banking, you can simply download the check once it posts to your account that it’s been cashed or deposited, and then email the downloaded copy of the check to your MC. Or you can go in to your bank and ask for a printed copy of the cancelled check. A cancelled check just means it’s cleared/been deducted from your account.



    I feel like maybe I should be concerned. I submitted my signed contract back on Dec 6 and my status still says housing search. Reading the forums, it appears that everyone else gets a response fairly quickly with the next steps. My MC did ask for my bank transcripts, rental verification, 4506-T, and a LOE so I thought I was going to credit access but nothing.

    I have emailed my MC twice because the builder is willing to change my contract from reducing the cost of the house by 7,000 to allowing me to use the 7,000 for buy-down but no response.

    Is this the normal time-frame. Rates are dropping and I want to lock in before they go up.



    get the updated P&S agreement showing the additional $7,000 and send it to your counselor and make sure he processes it and submits you to credit access by e-mailing him and calling him every day, if he/she does not respond, call member services and ask them to send him/her an e-mail, you can also contact the office manager or show up at the office and wait to be seen. I recommend you not to wait days for a response, if you did not get a response the same day, most likely you won’t get a response because counselors are very busy with appointments back-to-back


    Hi msleslie,

    My status changed from Housing Search to Bank Submission on Friday, December 14th. I also noticed a credit report was ordered on the same day. The status still reads Credit Access – Pending. One day before the bank submission my MC asked for the following;
    1- Add 401k loan to debts
    2- provide the updated banks statements & transactions history
    3- copy of canceled earnest money check
    4- upload the IRA with the accompanying statement
    5- upload the full 401k transaction with the accompanying statement… I also need to see him taking it out & transferring it to his account… the copy of the ATM will be requested as well.

    My RE agent asked me if I had gone to the NACA office to sign paperwork citing that if I spend one more week on Credit Access, we will not close on time. Keeping my fingers crossed that status changes to approved sometime Monday, and Tuesday I am signing away at NACA office.

    – Jonathan



    Hi Jonathan,

    I am very confused about this process. I guess my file did not follow the normal route. I was qualified back in August, but not for the payment I wanted. So, I saved for the three months to get a higher limit. My MC told me it would ok to go under contract because I was approved with other lenders. Well, my 3 months of savings was over on 11/15/18. I sent my MC everything to get qualified for the higher amount. On 11/25/18, the builder I wanted to use was having a crazy Black Friday weekend sale, that I could not pass up. So I went into contract that day. My RE agent, received the property specific approval letter on 11/30/18. After emailing my MC, on Dec 5th, he finally requesting the bank transaction summary, updated rental verification, and a signed 4506-t and a LOE because my salary increased more than 10%. All this time my status is showing housing search. On Dec 14th, he request I signed and initial all the pages of the contract and a copy of the earnest deposit. LAter that day, he request a LOE for some of my bank account transactions. I then get an email with my loan estimate disclosure. I click the yes button to accept. However, nothing has changed for me. My status still shows housing search. I am a bit lost, but I am being patient and my MC has communicated with me a lot. The house won’t be finish being built until March so I am have a little time. I don’t know what to expect next.

    I am crossing my fingers for you that you will hear something today, so you can sign your bank application. Please keep me updated. You appear to be further in the process than myself.

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