Home Buying in 94610>Question Details

Bunnyin, Home Buyer in Oakland, CA

Could someone tell me more about NACA - non profit organization to help people borrow money for mortgage?

Asked by Bunnyin, Oakland, CA Thu Oct 2, 2008

My mortgage lender is out of business after I spent 4-5 hours with her going through the paperwork, check our credit report and verbally told us we are pre-approval for up to $300K. NOW...my realtor recommended me NACA - non-profit organization. The borrower -me required to attend one of their workshops which is held in Oakland or San Leandro. The borrower need to arrange a counselor to discuss the process (long waiting list) . and the borrower need to paid membership fee and prticipate in NACA's aggressive advocacy campaigns. I am not sure what to do and over whelm with the NACA requirement in exchange for lower rate, no closing cost , no downpayment and with not so perfect credit report. My husband and I have good -excellent credit report and afford 5% downpayment on a $250K home. is there any options for us???

Help the community by answering this question:


Hi Bunnyin,

NACA is an awesome program. I have 4 clients who are currently going through the process of purchasing a home through NACA who are very pleased thus so far. If you have any questions please feel free to give me a call directly.

Best of Luck

Chimere Washington
510.469.8351 cell
0 votes Thank Flag Link Thu Nov 18, 2010
NACA has a fabulous reputation for protecting consumers in the real estate and mortgage markeplace. And the terms of their loans are way better than market. However, I would encourage you to also have a preapproval in hand from a for-profit mortgage broker, who will be able to provide the prompt customer service and loan processing you'll need to be a successful buyer in Oakland. My mortgage broker is great - call Yvonne Hemmingsen at Diversified Capital - 925.280.8523.

Hang in there - it's not easy being a homebuyer in 2010 in the Bay Area, but your hard work will be rewarded with fabulous pricing.

Tara-Nicholle Nelson
Buyer's Broker/Attorney
REThink Real Estate
0 votes Thank Flag Link Mon Jan 4, 2010
Hi Bunnyin,

Buying a house is stressful enough! And now your lender is out of business. I don't know anything about NACA but perhaps your Realtor could set you up with a mortgage broker who is qualified to do FHA loans- this may be another option for you. If you go this route, my suggestion is to find a local mortgage broker who knows and works with appraisers that know our market. I have had two separate clients who have had terrible experiences working with out-of-area mortgage brokers on FHA loans. I know a couple of great ones if your Realtor does not.

Good luck.
Krista Miller
Web Reference: http://www.kristashouse.com
0 votes Thank Flag Link Thu Oct 2, 2008
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