I am a dc homebuyer. It took me a little over year to get NACA qualified. I ended up working with 3 DIFFERENT mortgage counselors (2 quit, and each time, my file was transferred, without me knowing and sometimes without the new mortgage counselor knowing). Despite that, I think the pros definitely outweigh the cons, especially no $ down, no closing costs and in this market you have a lot of buying power, on top of having assistance to buy down your interest rate. It may be a headache at times. My advice would be to constantly call and show up to the office to make sure your counselor stays on top of your file. The squeaky wheel gets the oil.

My cousin and her daughter are both purchasing homes through NACA. Her daughter closed this past Wed. and my cousin is scheduled to close at the end of the month.

You should have noted your agent when you signed up for the program. It may be too late now to get your own agent now if you have already met with a counselor. I would call them immediately to clarify and if you do not have an agent in mind, feel free to contact me.

Finally, I do not think banks are going to give a NACA contract any extra attention one way or the other. You just have to make sure that the bank property you write an offer on fits NACA requirements as the bank properties are normally sold strictly as is.

I'm a homebuyer and tried to purchase with NACA and it's not worth the effort. I started the program by attending their seminar in February. I quit after I was unable to get PREQUALIFIED for a loan in September despite having excellent credit and a good job in the financial services industry. I ended up getting prequalified with my employer in three days and now have a house under contract.

NACA process takes time.
In this fast moving market that may be a luxury u can't afford.
rgds,
Ramesh Chandra
703 635 8209
mepcigroup@gmail.com

Their process is pretty straight forward. You are required to attend a workshop unless they do not have one in your area. Fortunately for you they have a number of these workshops monthly. After the workshop you have to apply on the web to get your one on one interview. After that you will know where you stand and if this is the right program for you. Good luck. If you have any more questions, dont hesitate to get in touch.

Arthur Hardy, Realtor
W.C. & A.N. Miller Realtors
4910 Massachusetts Ave NW
Suite 119
Washington DC 20016
(202) 362-1300 office
(202) 362-3164 fax
(202) 895-2860 direct
web arthurhardyjr.com
email arthurhardy@LNF.com

Know of anyone thinking of buying or selling a home? Referrals are greatly appreciated.

Licensed in the District of Columbia, Maryland and Virginia