NACA is a program that takes you through the steps of becoming a responsible home purchaser. You have to prove to them that you are capable of buying a home. You do have to prove to them that you are not a throwing your money away and they teach you how to save it and modify your expenses. It is worth looking into if you are serious, and it would not take several months if you had all of your ducks in a row. Beverley

Thanks Howard! I have not yet personally had any clients use the Neighborhood Assistance Corporation of America (NACA) to purchase a home with me, but I know they were here in town last weekend helping homeowners. I did some research yesterday. You can read more about them or contact them through http://www.NACA.com

Hello Cynthia,

NACA is a program that assists home buyers to purchase a home, refinance a home, and repair credit. This program is not Bank or Credit Union specific, it is a stand alone program. With that said, NACA is not a Bank, Credit Union, or a Mortgage lender, there program as long as you meet the NACA Qualifications, it will help to guarantee your loan.

NACA is a program with Bank of America that requires you to go through a credit repair program. It usually takes 4-6 months to go through the program, ofcourse, depending on how bad your credit is now. I do not think there is a minimum credit score, but I have a call in to Anthony Hernandez at Bank of America's mortgage division. 803-354-1837.

You are possibly better off going through an FHA program and a credit repair company like http://www.creditunlimited.com. Consult with a mortgage specialist on all programs available to you to find out which might be the best fit for your situation.

When Anthony calls me back, I will post his answer on the creidt score minimum requirement.

Call me if I may be of further assistance!

-Donna Reed
803-422-4700