your experience with naca? (concessions, agents, title insurance, closing)

[CAugust]

I was excited when talking to an attorney that has done many of these closings - well my excitment ended when I logged onto the website, yet was never sent my password - tried twice, it says i am in the system, but I have no login.

Then I try the live chat - yeah right - hours later no one is still there

So I call the local office to find out when the next seminar is, so I can become a referral agent - I get put on hold and then told someone would call me back - so far nothig....

I mean, this isnt telling me much about the structure of this organization -

so tell me your good your bad and ugly...

they say they pay all the closing costs and concessions are allowed as well as a very low mortgage rate... whats not to like? except of course timeliness I suppose...


www.naca.com

[palmcoasting]

I've never heard of it. I would imagine they inundated with customers and agents though.
I wonder if it's similar to the schip program down here?

[TampaKaren]

I've attended a few affordable housing meetings where they presented and passed out literature. There are hidden costs to the borrower that are not readily disclosed. IMO, they work similarly to AmeriDream and Nehemiah, but more expensive.

[rubynicholson77056]

My husband and I are using NACA to purchase our first home and although at times it has been a little stressful, overall we have been very pleased. Yes it does take a lot of calling and staying informed to get the ball rolling, but if you stay on top of everything it should be a breeze. We went to our initial workshop in Nov of 08 and had our first NACA meeting with our counselor in Dec of 08. She discussed what we would need to do to become qualified i.e. a few explanation letters for late payments, etc. We were approved in Jan of 09 and are now building our first home. There are some closing costs involved, 3 months taxes, 1st year premium of homeowners insurance, etc, but the lender pays for the title and title insurance and a lot of other stuff as well. We got a 30 yr fixed rate of 3.875%...overall I think it's a great program!!!

[megan79rose]

Yes Hello..My hubby and I are in the process w/ NACA and I want to know your experience w/ the naca approved home inspector? Did they just care about big problems like termites, foundation, mold, electric, etc or do they want it perfect for example lights, cracked tile, screens torn and so on. We already live in the house we want to buy and would hate if we had to hire a contractor to fix something my husband could easily fix?