NACA Homebuyers Program

[mmb1979]

Naca has a great home buying program. Yes it may take longer in some situations if you have things in order it may not take as long, but the way it works is for example if you have credigt usses its not so much about your credit score but you do have to address the debt, say you want a mortgage payment of 1000 and you are currently payingf 800 dollars well naca will ask you t save 200 a month for maybe 3-6 months just depending on the situation to show that you are able to make a 1000 payment a month if you can show that then the process can move forward and on top of that you have some money saved up that you can put towards new furniture or whatecver gtowards your house or just have it saved. There is no closing cost, no down payment and the interest rate is always 1 percent below market rate and like someone previoudsly said you can buy down your rate. Yes there is a 50 dollar monthly fee which is well worth it considering you'll probably have a really good interest rate and the 50 dollars want make a big difference. and yes you do have to participate in some volunteer activit, but you choose those activites adn when and it's really not bad at all its well worth it, and if you do your research people are suffering hardship and forclosure all over but very very very rarely do people who purchase a home through Naca loose there home or become at severe risk of loosing there home. Its worth the extra time it may take you to actually close, again its situation by situation, and it may be more difficult if you're going through Naca and using another realator, who has there own interest in mind. Naca is great you want find better rates meaning you want find a better and more affordable mortgage and there not in the business of doing any shady loans and they're not rushing to just put you in a home they are working to put you in a home you love and will truly be able to afford it along with all the other responsibilites of homeownership

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[mmb1979]

Originally Posted by brianjb

What is NACA? Is it available for current homeowners to refinance? Can I use it if I sell my existing home and want to finance another home with it?

Thanks!

Yes if you sell you can buy through naca check out the website for more information [URL="http://www.naca.com"]www.naca.com[/URL]

[long time waiting]

I'm going through the process in chicago right now and yes it is long and frustrating. I believe they are very understaffed - because the customer service and response time is horrible. I know the end result will be great if i ever make it to the end, but they are just so unorganized and unprofessional!!!!