Interest Rate and Credit

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  • #41011
    Pearl609
    Member

    Hello All,

    I have a question related to NACA’s interest rates and the lender’s final number.

    Currently, the interest rate posted is 4.25%, so does every NACA member have the same rate (aside from buy down) regardless of their credit score, or do we all start at that rate and the bank adjusts it based on your credit?

    Let’s assume there is no buy down involved, would a member with a 780 credit score have the same rate as a member with a 520 credit score?

    I know NACA doesn’t factor in your score for qualification, but do Citi and BOA factor that in?

    • This topic was modified 4 years, 2 months ago by Pearl609.
    #41013

    Great question @Pearl609!

    Every NACA member has the same interest rate regardless of their credit score.

    So if the current interest rate is 4.25%, the interest rate would be 4.25% if your credit score was a 780 and it would still be 4.25% if your credit score was 520.

    Hope that helps! 🙂

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