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NACA

Established Member

NACA

Has anyone gotten a mortgage loan through NACA?
35 REPLIES
KT
New Visitor

Re: NACA

Yes, I just closed through NACA. My credit is healthier. The process was virtually painless. The rate just wonderful. I've done my homework. Without a doubt, NACA is the best ... BEST ... mortgage loan program in the country. Anyone can go through NACA; not just those whose credit has been damaged or who don't have the money for a down payment. Beware of those who would argue that NACA is less-than-sterling ... just means THEY want your money and don't want you to receive the many benefits of a NACA mortgage. Hope this helps.
Super Contributor

Re: NACA

NACA is good but they have income limitations, so not everyone can use their programs.
Mortgages (FHA, VA, USDA, Fannie, Freddie, Non-Prime) since 2002, based in Irvine, CA and lending in all 50 states

Information that is needed to determine if you qualify for a mortgage

KT
New Visitor

Re: NACA

That is not accurate. NACA does not have income limitations. The only limitations they have are region-specific FMVs for residential properties. Recently, a woman from NYC, whose AGI was well into six figures a year, went through the NACA process and subsequently purchased her home with a NACA loan. Her credit was exemplary; she just knew a great mortgage program when she saw it! www.naca.com ... for more information.
Super Contributor

Re: NACA

My bad, I now realize there are no income limitations... but there are geographic limitations.
Mortgages (FHA, VA, USDA, Fannie, Freddie, Non-Prime) since 2002, based in Irvine, CA and lending in all 50 states

Information that is needed to determine if you qualify for a mortgage

Regular Contributor

Re: NACA

This is the first I have heard of this program. My daughter's home went into foreclosure when her husband moved out and quit contributing to the mortgage payments and then was uncooperative when my daughter was trying to sell the house. This was about two years ago. Does anyone know if this would keep her from qualifying through NACA? She hates paying $1200 for rent...money out the window.

Thanks
Established Member

Re: NACA

NACA has a website:  www.naca.com.  Also, there is a prevous thread here about NACA.  Do a search for NACA and you can get more info about this program.
Senior Contributor

Re: NACA



KT wrote:
That is not accurate. NACA does not have income limitations. The only limitations they have are region-specific FMVs for residential properties. Recently, a woman from NYC, whose AGI was well into six figures a year, went through the NACA process and subsequently purchased her home with a NACA loan. Her credit was exemplary; she just knew a great mortgage program when she saw it! www.naca.com ... for more information.




How can they offer such low rates???? They seem to be 1-2% lower than anyone else!! o_O

Also, when they say "Perfect credit not needed" does that mean they'd be okay with a couple of recent lates (Dec 07 and April 08)?

I think I'm just terrified about the impact lates would have on a loan approval. :/

In terms of volunteering (as part of the membership), what did you do (if I may ask)? How much of your time did it take? I'm really concerned about making an agreement I might not be able to adhere to, time-wise -- especially if it meant traveling to Jacksonville!!

And lastly, how often did you have to visit their office?? We're in PCB and their closest office is in Jacksonville (about 3-4 hours away). They DO service our area, though and seem to be EXTREMELY generous in the amount they'd lend in our area.

Dallas, Shane, what do YOU guys think about this group? Do they seem legit to YOU????

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*

Hubby's FICOs when we started: high 400s (June 2008)
Hubby's FICO NOW (04/06/09): TU: 679 EQ: 608 EX: ???
My FICOs: TU: 643, EQ: 606
Closed on new home: 1/20/2009 -- If we can do it, YOU can do it!!

Regular Contributor

Re: NACA

WOW... I wish I had known about this beforehand... I am forwarding NACA's info to my agent right away!

Starting Score: 550
Current Score: 673 EQ, 681 TU, 650 EX
Goal Score: 720

Update April 1: TU 615/EQ624
Update June 28: TU 641/EQ 626
Update Sept 21: TU 681, EQ 673, EX 650 (FAKO)
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Frequent Contributor

Re: NACA



poet wrote:
WOW... I wish I had known about this beforehand... I am forwarding NACA's info to my agent right away!


It really is a legit company.  I had an appointment on 7/26 but I eventually walked out of the presentation along with 3/4 of the people.  The only reason I chose to leave is because the facilitator made perfectly clear that if you believe this is going to be a quick process it isnt.  That was my cue to excuse myself from the meeting because I did not have the time that they want you to take as far as a mortgage goes.
4/15/2008 EQ 539 TU 489 EX 575, 7/25/2008 EQ 669 TU 555 EX 611, 7/31/2008 EQ 669 TU 555 EX 624, 8/5/2008 EQ 669 TU 586 EX 624