â€¢ No down payment
â€¢ No closing costs
â€¢ Competitive interest rates (as low as 4.5% as of April 6, 2011)
â€¢ Purchase Price up to $362,000
â€¢ Credit Score as low as 550 (This is NOT just for people with low credit).Â ManyÂ buyers with high credit and money in the
bank have taken advantage of this program.
â€¢ Two years without bankruptcy or foreclosure
â€¢ Owner occupied.Â You may not own another homewhen you go to closing onÂ your NACA purchase.
â€¢ Mortgage shock limitations â€“ If you are currently renting or own another home, you may be able to buy a home with the same monthly payments.Â If your payments are going to be higher, than you may have to prove that you can save the difference between your current payments and your new payments.Â Â Â This
will allow you to demonstrate that you are capable of handling a higher debt.
â€¢ Contact Carolyn for Guidelines.Â Call:301-674-3056 for additional information
This is a reality for people who are willing to go through
limited home budget counseling.