How do I file a complaint against NACA?
You may file a complaint by calling NACA Member Services at 425-602-6222 between 8:30 am and 5:30 pm Eastern Time Monday through Friday.
Is NACA a legitimate company?
NACA is a nonprofit and HUD-certified homeownership and advocacy organization that is committed to assisting economically disadvantaged individuals with becoming homeowners by offering loans at below-market interest rates with no down payment or closing costs.
Does NACA approve everyone?
NACA is open to everyone regardless of their income or where they want to live as long as they adhere to our eligibility requirements, policies, and procedures. Every person in your household that intends to be on the mortgage must participate in this process and must complete the NACA Qualification process.
Can I buy another house after NACA?
No. The NACA Mortgage product cannot be used to purchase second homes. The NACA program is designed to help low-to-moderate income families and people purchase in low-to-moderate income areas become homeowners. No member of the household can have an ownership interest in any other property.
What bank does NACA use?
At present, all NACA loans are through Bank of America.
Can you buy a house with 0 down?
Possible benefits of home loans with no deposit A home loan with no deposit may give first home buyers with a small amount of savings a way to buy in a property market which might otherwise be unaffordable. However, home loans with no savings are not generally designed for first home buyers.
What qualifies you as a first time home buyer?
According to the agency, a first-time homebuyer is: Someone who hasn’t owned a principal residence for the three-year period ending on the date of purchase of the new home. An individual who has never owned a principal residence even if their spouse was a homeowner.
Do you think NACA treats its customers like second class citizens?
People need to educate themselves on Finance and then their will be no need for NACA to treat their customers like second class citizens. Yes there intent may be good but reviewing these complaints they would not treat other people this way.
Do you need to take a NACA class?
Look at how they treated you and they claim to help the underserved. NACA is useless if you can take budgeting and personal finance classes. You can buy down points and have a good interest rate. People need to educate themselves on Finance and then their will be no need for NACA to treat their customers like second class citizens.
Is the NACA program Good for first time home buyers?
July 7th, 2021 NACA is a fantastic program for 1st time homebuyers. They offer much more affordable rates with the possibility of little to no down payment and no closing costs. Counselors are helpful and really educate you on learning whether u can actually afford it.
What are some examples of NACA contingencies?
On 7/22 NACA Sent me 15 contingencies, most which were not even applicable to my loan file! Example includes calling out a lease agreement for solar panels when the property Im attempting to purchase does not have any.