Credit Cards Center Credit cards from our partners
Reply
New Member
Posts: 13
Registered: ‎10-23-2012
0

Re: Time between GW letters and what is NACA?

Great info! So you think it may take about 3 months from workshop to closing? I am trying to figure out their calculator as to how much I am qualified for, but it is a little confusing. I have found a home that I am very interested in that is at $239, owned by the bank (foreclosure), but hope they would come down a little since it has been on the market since 3/2012. I do receive disability SSI and a $700/mo retirement check. I sell on eBay and see that they may use that income to help qualify?

Established Member
Posts: 17
Registered: ‎12-27-2012
0

New..Help with mortage

What is NAPA? And do they do 15 years mortages?    Thank you!

Want to take it Higher!
New Member
Posts: 13
Registered: ‎10-23-2012
0

Re: New..Help with mortage

Hello, I understand that we cannot leave links on the forum, but if you Google NACA and mortgage, it will take you to the link. It does say to use Internet Explorer for the site.

Valued Contributor
Posts: 1,063
Registered: ‎05-26-2010
0

Re: Getting depressed and feeling hopeless! Please -- any help?

NACA does one kind of loan in their purrchase program, it's 30 year fixed, no downpayment (100% Loan to value).  There are nio closing costs and no PMI (you pay $50/month for five to ten years depending on loan amount to their "Neighborhood Stabilization Fund").  You can't make a downpayment but if you have money for a downpayment it gets better, you can buy down to as low as 0.65%.  The current rate is about 3% before buydown.

 

No income restrictions, but there's a maximum loan amount (in Maryland a bit under $370K).  You cannot own any other real estate, this is an owner-occupant program.

 

the first step is to go to a NACA homne purchase workshop in your area.

BK7 Filed 8/11/2009 Discharged 11/23/2009. Purchased new home 4/11/2012
Starting Score:11/16/2009 EQ 566 11/16/2009 TU 538
Interim Score: 12/27/2012 EQ 683 09/17/2012 EX (lender) 670 1/01/2013 TU 701
Current Score: 11/06/2013 EQ 708 11/06/2013 EX 702 11/16/2013 702 11/06/2013 TU 729
Goal Score: EQ 740 EX 740 TU 740
Take the FICO Fitness Challenge
Established Member
Posts: 17
Registered: ‎12-27-2012
0

Re: Getting depressed and feeling hopeless! Please -- any help?

Great!  I found a workshop for next Saturday...but it's in Cleveland (120) miles away.  Also, there (1) in my neigborhood in May 2013.   Does it matter where you take the workshop.  I would like to get started asap!

 

Thanks for the information....love this website.  It really helps a lot!

Want to take it Higher!
Valued Contributor
Posts: 1,063
Registered: ‎05-26-2010
0

Re: Getting depressed and feeling hopeless! Please -- any help?

No, any workshop is a good start.

 

I'm in Baltimore, MD and they get people from DC, Virginia and Pennsylvania at workshops here.  If you'll be serviced by a different office they'll just send your information to your servicing office.  You won't have to re-do the workshop.

BK7 Filed 8/11/2009 Discharged 11/23/2009. Purchased new home 4/11/2012
Starting Score:11/16/2009 EQ 566 11/16/2009 TU 538
Interim Score: 12/27/2012 EQ 683 09/17/2012 EX (lender) 670 1/01/2013 TU 701
Current Score: 11/06/2013 EQ 708 11/06/2013 EX 702 11/16/2013 702 11/06/2013 TU 729
Goal Score: EQ 740 EX 740 TU 740
Take the FICO Fitness Challenge
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.