I am currently going through the process and it has been an ongoing wait for a closing date. While it does seem like an awesome program it is hard to be patience being a first time home buyer. They do not keep you updated on where you are in the process. We were expected to close mid October and it is now mid November.

Realtorrobin how long did the process take after you client had the house?

I have personally closed a buyer through NACA's program. She was given a 30 yr. fixed rate, 4.1% interest. We used the closing cost that we asked the seller for to buy down her interest rate because NACA has no down payment or closing cost. My buyer is a school teacher and it took a special amount of patience to deal with them. They don't return calls, emails, faxes, you name it, they won't answer it. They are non-profit and short staffed. There is no loan origination, your buyer just needs to be prepared to pay pre-paids. Awesome program, just takes a patient client.

I signed up, called them and emailed them with zero response, if that tells you how un responsive they are. The website does not offer information as to the requirements of any geographical restrictions, which is what I really wanted to know. As of right now, I'd say that if you do get involved with them, prepare for a loooong wiat.

As a Realtor I signed up for the NACA program. There were some people who raved about the program, but I don't know anyone personally who completed a purchase.
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.

One of my clients went to a few of their presentations. We looked through all the information together. They have a really good pitch, but we could never get any information from anyone or find anyone who had actually completed the program and was able to buy a house. It was more of the I know somone, who knows someone, who met someone, who bought a house. Seems very blue sky to me.