The Official NACA mortgage thread

[NeedsHelp23]

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@Anonymous wrote:

I agree with this.  I have read this thread from page one and has been very helpful for me.  I have been preparing to purchase a home since last summer by budgeting and cleaning up my credit and such.  I will try to keep the thread updated as I go through the process.

So far:

2/4------ Workshop

3/29-------Intake meeting: Intake went well. I think I was over prepared because of this thread lol I had everything printed in my binder as well as my info uploaded online.    The meeting mostly consisted of him asking for basic info (much with i had provided online) and going over my MRF.  He didn't even look at my statements or anything and gave me a task list which included a lot of things that I already provided online and brought with me to the meeting but he said he didn't want to see it at  that moment.  He said we will cover  things like affordability and finances in my follow up meeting on 4/30.  I don't know why he is doing it this way because from reading other experiences it seems that everything is reviewed at the intake.  He said that my file should be fairly easy as I have don't have any biggies on my credit and i have already been showing my payment shock for a few months now. 

I'm not looking to be approved until around June so we will see how that goes. In the mean time before my next meeting on 4/30, he told me to continue to save my payment shock and upload my pay stubs and bank statements.

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I wish you the best and get ready for the ride of your life . .  .

[Tanya007]

Patience I can do, especially knowing it's well worth it. I'm wondering if I should cancel/postpone my Friday appt. since my task list is incomplete, missing alternate credit (for myself). I would rather her use that time for someone ready to go. I'll shoot her an email and let her know. She's easy to work with but does not offer suggestions. Anyone have this problem (not enough lines of credit)? New construction sounds awesome, Good luck Debbie & Congrats!

[Anonymous]

Hey NACA Thread!

Vow to be more helpful!  This thread keep me sane when I was trying to purchase my home.  It didn't go as plan thru NACA but, I'm still a homeowner.  NACA is not the for the light hearted, quick to close or I think this is the way it should be done!  NACA is for the hurry up and wait, Fax me your papers again and we have a new rule just for you.  That's NACA but it gets you to rethink your spending habits, why is there a 6.00 dollar McDonald's charge every other day in the week of???? How many movies do you rent from red box?  

NACA is NACA.  I'm so glad to read that most of you have went thru the thread and read it.  It answers a lot of questions and may even make you want to ask more.  Information is key to Naca!  Hopefully I can chime in more and be of service too you.  

Peace and Blessings to the entire Naca Thread!

[Anonymous]

Tanya007

Go to your appt.  Please face time is everything.  Let her go over what you do have and get another appointment before you walk out of the door.  

[Anonymous]

Can'tWait,

What office are you going through?  I was also at a workshop on 2/4 for the Atlanta office.  Also, what are the initials of your MC?

[Anonymous]

I am going through the DC office

[NeedsHelp23]

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@Anonymous wrote:

I am going through the DC office

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CantWait, I'm with the DC office as well.  Can you share the initials of your MC?

I feel like I'm working with one of the best MC's with NACA.

[Anonymous]

Gigi it's so good to see that you're still apart of this thread.  Your information helped a lot of people make it through this roller-coaster ride.  I have a question about overdraft protection.  I know that you are not supposed to have it on any of your accounts, but I just found out I had it on one of my accounts when it was used to cover a check that was not supposed to be processed until June.   I removed it from the account and wrote a LOX.  The overdraft was prevented because of the protection, but what will my MC say and will I have to wait a certain amount of time before I can move forward?

[NeedsHelp23]

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@Anonymous wrote:

Gigi it's so good to see that you're still apart of this thread.  Your information helped a lot of people make it through this roller-coaster ride.  I have a question about overdraft protection.  I know that you are not supposed to have it on any of your accounts, but I just found out I had it on one of my accounts when it was used to cover a check that was not supposed to be processed until June.   I removed it from the account and wrote a LOX.  The overdraft was prevented because of the protection, but what will my MC say and will I have to wait a certain amount of time before I can move forward?

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Hi, this happened to us as well a couple of months ago.  The LOX was all we needed.  There was no holdup in the process.

[Anonymous]

msrarebeauty

That's all you can do.  No i won't stop you, just continue on. Make sure your LOX includes how this happened and you rectified the problem and it won't happen again.  Make sure you watch every little penny in your checking acct.  Over drafting your account will set you back three full months before you can go to the underwriter.  

Onward and upward!