Required to give copy of Qualifitcation Form/ Affordabilty Form to REA?

Home Forums Purchase Program Required to give copy of Qualifitcation Form/ Affordabilty Form to REA?

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  • #75762
    TDEE
    Participant

    Is is mandatory to provide a copy of your affordability form to your NACA in-house agent? During the purchase workshop I remember the instructor stressing that this information was personal and you only needed to provide the agent a price range for your housing search. But after talking to someone in customer service today I was told that it was fine to give this information to a NACA in-house agent. Just wanted to confirm this is correct and see what others are doing.
    Thanks.

    #75764
    Nelsont
    Member

    Yes. It’s an industry standard. Real estate agents will not take you to see a house without a pre approval letter. It’s a waste of their time otherwise. They need a copy for their file so they know how to guide you and which banks to go with. If you aren’t already pre approved they will have you meet at their office or usually a Starbucks or place like that and interview you (as well as you interview them). They will set you up with a bank to get pre approved and then take you to see houses maybe the following week.

    If you have a naca qualification letter that will take the place of a pre approval letter.

    In house agents are no different.

    #75767
    sweetlilly
    Participant

    Qualification letter you can share.
    Affordability form containing details of the amount you are qualified for you keep private.
    All the agent needs to know is the price range you are interested in which may be less than or equal to the amount you are qualified for.

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