Credit Access

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This topic contains 3 replies, has 2 voices, and was last updated by  TTrumble 3 weeks, 4 days ago.

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  • #48390

    Godswill2018
    Member

    Do any one know if we’re required to pay for another credit check every time that we are re-qualified because of income increase and for credit access?

    #48394

    TTrumble
    Member

    Hello Godswill2018,

    Every time it is necessary for NACA to obtain a fresh pull of your credit file, regardless of the reason, you are required to pay the fee that reimburses us for our expense in conducting the pull.

    The only time you will not be required to pay the fee is when the bank pulls the file after receiving the formal mortgage application from us.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    #48397

    Godswill2018
    Member

    Thank you Tim,

    Are credit pulls required for everyone re qualification and at the time of credit access? I’m not really concerned with the fee, just want some insight on the reasons for pulls. I was under the impression that they are only pulled if it’s been more than 3 months. I didn’t ask my initial question correctly.

    #48422

    TTrumble
    Member

    Hello Godswill2018,

    Every three months since the report is only considered valid for 90 days (which also covers re-qualification since your qualification is itself good for six months), and a fresh one at credit access to do a last minute check to make sure there are no surprises just before we send the application to the bank.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

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