With a two year perfect track record of meeting your billsand a high rent, you could probably get a mortgage through NACA in 6 to 8 months. They don't go by scores.
Thanks for the info, dont you have to live in an approved area tho?
They have 31 offices, many cover whole states or more. There are a lot of misconceptions. NACA is not for lower incomes only, they just have an upper limit (by market area) on the home price.
You really need to go investigate the program at naca.com. I don't know where you're located, but you can read about it oon their website and then your first step would be to go to a workshop.
In my area (Maryland) the upper limit house prices is around $360K. I paid $278K for my new home. All I needed for closing was the inspection fee and escrows (taxes and insurance). They paid all closing costs and loaned 100% on a 30 year fixed basis. I pay less than I was paying for rent.
really???? i am by baton rouge. how much approx did u need to come up with? i have some saved now. i am paying 1100 a month for rent so i know i can afford a house payment. i hate paying someone elses mortgage. i make ok money 60 k a year. i am still paying down collection .y debt is 20 k. zorry typing from phone..
Your office would be New Orleans.
I paid about $400 for the inspection, a year's insurance (less than $300) and sic months taxes. So less than $4000 all in. FHA I would have needed over $11000 to close and had a $250/mo PMI payment.
The way they work is if you want a larger payment (principal + interest + insurance + taxes) than your rent you have to show you can save the difference every month.
I really urge you to look at the website and consider going to a workshop.
ok i will check it utm thank u. i still mneed to get thek to reemove a collection from this year...