Quote:
Originally Posted by Irish_boy
Can someone please tell me if the home owner-to-be is responsible to pay the mortgage company for their credit check, or is the unnammed mortgage company just trying to get money from a VA home loan?
|
It really depends upon the lender/mortgage company. Some charge for the credit check, while others consider it a cost of doing business. I personally could not work for someone that required payment prior to ordering the credit. The cost for the full tri-merged credit report averages $11 to $12.
But, to set your mind at rest, lenders are prohibited from making a profit on what are considered "pass-thru charges." This would include appraisal, flood cert and so on. There must be an invoice that matches the charge collected.
I hope that helps.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
