Established Member
Jinx
Posts: 10
Registered: ‎08-10-2007
Re: Got a GREAT mortgage!!!!
I just finished a 4 hour NACA workshop and let me tell you, it was VERY eye opening. We were on the verge of signing another ARM to refi with the promise we could refi out of that one next year. With a 3% origination fee and then some.

Ugh.

NACA is offering home buyers 5.87 today. No fees. No closing costs. They are not Santa Claus - you have to demonstrate some financial responsibility and show you can actually afford the mortgage you are trying to get, and that might take time - but they won't stick you into something you will lose.

We need to refi and are talking to them about that process. They don't do a cash back type refi, but will put us into the same rate as above (with the option to buy down) to get us out of our nasty ARM and into a fixed rate 30 year we can afford to pay. Which means we won't lose our house.

The education about the mortgage industry and lending practices was astonishing, and they document it all so you don't have to take their word for it.

I bet mortgage brokers hate them with a passion.

They should. I can name three who no longer have a shot at taking advantage of us financially so they can get a bloated fee.