Word of advice Deal with them only if you have too. If you have some money saved and decent credit, MOVE ON. It is not worth the stress and just to save a few extra bucks. Trust me... what you save, you will pay for it with your time and patiences and possible your DREAM HOME!!!
I was later assigned to another loan rep whose sole mission was to ONLY take me out on a date. He would call me late in the evening to discuss his attraction and later my loan process. I couldn't take it and would hang up the phone.
Moving 6 months forward, I contacted USDA Mortgage this morning to apply for a loan, I received my loan approval 2 hours later. Although the interest is a tad higher than NACA (5.3); the loan process was seamless not to mention completed in 1 day, I didn't have anyone attempting take me out a date, nor did my paperwork get lost in the shuffle and the loan officer was extremely responsive.
If only I could get the 6 months back that I lost with NACA. I will never recommend anyone in Dallas to use this program. It is a living nightmare.
I finally closed on my house at the end of Sept 09, about a month beyond the original closing date of Aug 28, 09, with ~$2000+ poorer because the seller tagged a daily fine of $40 for everyday starting from the original closing date, till when the transaction was closed.
I do agree it is a very frustrating and absolutely trying process but I have to admit that I went through it with my eyes opened (somewhat).
I had purchased a home through this program before back in 2003 in Houston, that process was ~5 months in total, so I had pretty much expected the same in Dallas. But I was wrong. The first red flag was when I had to attend the workshop (again), both the counselors there were new hires. I didn't think much about it as my counsellor, Ms Charlotte Blocker, she was quite proficient albeit very busy. I also appreciated that she corresponded with me well and helped my case along. As I couldn't find a house within the NACA budget where I lived, the first approval lapsed after 3 months. The 2nd approval ran into issues but trouble started when Charlotte left NACA near Christmas time of 2008, she didn't prepare me for it as I was on vacation at that time. That was the 2nd red flag.
My case was tossed around for a while until it was assigned to Paula Nolan and that was hell for 6 months. She was absolutely clueless and I have nothing good to say except censor censor censor censor. And she hid her shortcomings by being rude and condensending in every way. She was let go in May 09 and Salvador took over my case after that. He too was very new and pretty clueless but he did his very best to work the system for me. That was when I met Don Meadows, the head of the office. They straightened my issues and soon after I got approved again and this time found my house. The closing process went well initially until in August 09 when Sal ran into issues with NACA. He didn't update me regularly enough until it was too late, - 5 days before the closing, I found out that all the lenders' papers were not prepared, the appraisal not done, bank application not submitted, etc, etc. It was a perfect storm as NACA had an IT issues right at the same time when the banks started to slow down their application process and the NACA leaders were going on a Nationwide "Save the Dream" tour, taking valuable resources along with them.
It was a terrible time as I ended up having to vacate my apartment, and had to moved into motel 6, not knowing if I was ever going to close on the house. It was hardest on the baby as it was hard to prepare warm food for him as we couldn't cook and cost was the biggest worry.
By the grace of God, the seller didn't abandon the process as my real estate agent Pam Reed worked so hard to keep the sellers in the loop, and the deal going, her humbleness won the day over in the end. We're happy with the house, I closed with 4.75%. I wrote a letter to complain about the incompetance of Don Meadows as the head of the Dallas office in not training his staff properly and living out of state... but no avail.
I must say that although I still believe in the principle of what NACA strives to achieve, the process leaves a lot of stress on the counsellors and their families, not to mention its members as well.
Realtorrobin how long did the process take after you client had the house?
I discussed the program with the office personnel and it seemed acceptable, because in addition to providing funding for a loan, the organization also stepped in to help the clients budget and actually put aside money.