Home Buying in New York>Question Details

BrooklyntoIs…, Home Buyer in New York

Does anyone have experience (good or bad) with NACA?

Asked by BrooklyntoIslandFirstTimers, New York Mon Feb 4, 2013

One of my husbands' clients told him about NACA because he just got a house through them. We were wondering if anyone knew anything about them? I've looked at their website. I've seen different views... Bad customer service, long periods. Capped at $362,790 for the purchase price of a single home. You have to attend events for 5 years. Pay $50 a month "membership fee", which is $25-5- less than PMI (that can be viewed as a pro or con depending on the person).


What are your thoughts

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Answers

69
I recently closed on a house through Naca in Alabama. It took me 11 months from start to close. if your looking for a quick home purchase then Naca is not gonna be for you. You have to prove that you are gonna be a responsible home owner. They ask for months of bank statements, credit card statements, pay stubs and letters to explain why you have certain issues with your credit. If you have good credit and money saved then the traditional route may serve you better but if you don't have perfect credit or thousands of dollars saved then Naca is worth it. Yes I was frustrated at times, had to send the same documents to them on several occassions and had to explain issues on my credit report. It was very time consuming and very frustrating at times but there was no other alternative for me to purchase a home. It works if you are patient and stick with it. Quick it's not. In the end I got a home in a good, safe neighborhood, interest rate 2.5%, and am paying $200 less than I was paying for rent. Well worth it for me.
6 votes Thank Flag Link Wed Feb 25, 2015
I am at the ending phase of a home purchase. Have I been frustrated with the NACA process? Heck yes. But really I was at fault for some of it. I did not understand how the payment shock was calculated and I didn't really bounce a check but my bank did have to transfer $80 from my own savings to my checking. Both these mistakes cost me about 6-9 months.

My sister bought a house in California, down the street from where I am now attempting to buy. She did a buydown. I believe the rate at the time she applied was 3.75 and it took her 27K to buydown to an interest rate of .0625. Her closing (taxes and hazard insurance) were less than 3K. Where else can you buy down to almost zero? Nowhere else. When she was frustrated she would just breathe and say out loud, ".0625... .0625.... .0625..." It is worth it in the end.

Best advice I can offer is be organized. Buy a 3 inch binder (heavy duty only) and dividers. Divide into: NACA fax cover sheets; NACA forms; taxes and W2s; credit cards and loans; retirement; Letters of Explanations; other.

Letters I had to write:
1. Why does my credit report have 20 different addresses and PO Boxes--moved around, college, etc. Had to do a timeline of where I lived and when and which PO box went with that time period. I went back 20 years..
2. Why is my nickname on my credit report?
3, Why am I claiming my grandfather on my taxes?
4. Provide a copy of my voter registration card--certified by registrar
5. Why does my license have a different address than the residence--send all mail to PO Box--provided a utility bill to show the residence and the mailing address
6. If I spend more than 200 (check or cash)--where did the money go?

You get the picture. Another piece of advice is to make your follow up appointment while you are still on the phone with your counselor. I was always under the false assumption that my counselor had time outside of out appointment time (phone appointment) to work on my file. THEY DO NOT. They are on to the next appointment right after you, so if you want them to work on your file again, schedule a follow up appointment so that they allocate that time for your file.

Good luck and give it a try... remember to breathe...
6 votes Thank Flag Link Wed Feb 26, 2014
Beth, you are not limited to HUD homes through the NACA program. You may buy any home that is within your affordability.
Flag Mon Jun 13, 2016
Great review. One question that I can't seem to find, is, are the homes you are able to purchase through the NACA laon, only HUD approved homes or can you purchase non HUD homes?
Flag Wed Jun 8, 2016
Why are they wondering about your ID address? Why is a copy of it in your file? They are only suppose to ask to see it not keep a copy on file.
Flag Sun Dec 14, 2014
Great testimonial, Graciela Garcia! Congrats to your sister on getting her new home; and to you when you close on yours.
Flag Thu Feb 27, 2014
A close friend just closed on her home in the Bronx last week using NACA. I helped her keep her sanity throughout the home buying process.

The positive of NACA- she has a 30 year fixed rate mortgage at somewhere in the neighborhood of 1.125%. They also pre-screened her far more carefully than a bank would have- which I think is a very good thing (it's in everyone's best interest that the buyer understands what they can comfortably afford). If you are organized and patient with their process- it will help you immensely. The ridiciously low interest rate allowed her to buy a much more expensive home than if she went through a traditional mortgage program.

The negatives of NACA..due to the lack of transparency in the process once a buyer has submitted all of their paperwork- I can't be sure who screwed up- the bank or NACA. My friend's deal nearly fell apart because the deal was so slow. NACA stated that closing was to be 2 months after contract signing. 4 1/2 months later the deal finally closed- but not before the seller's threatened to keep the deposit and walk due to breech of contract. Once NACA got wind of the seller's threatening to walk and my friend sending them an email pleading for her sanity to be restored and the deal to be closed- only then did she get the approval to close. There were other problems too. Because there are additional requirements in the contract that are complicated- they recommend that you use a NACA approved broker. Based on my observations of my friends experience- use your own broker. The broker that they recommended was totally imcompent and impeded the process. I recommended that a complaint should be filed with REBNY. I want to be as fair as possible- so I think it was incompetence rather than greed or kickbacks- but the contract was written up for 5k more than was verbally agreed upon by both parties. Now I don't excuse my friend for not noticing the price difference before signing the contract- but it is still inexcusable that the agent wrote up the contract for a higher price. In addition, the broker had difficulty returning her calls/emails as well as the buyer's brokers calls/emails. The brokers incompetence went far deeper than this- but I want to keep this as brief as possible (though still through). The final negative with NACA was that the house needed some work- this was all part of NACA's process- but you do have use a NACA approved contractor. My friend was given a few names of contractors that did work near where she is buying. Her first choice on the list ultimately still had some administrative issues outstanding with NACA and she couldn't use them because they were so ineffiecient at processing the contractors paperwork. The NACA inspector was needlessly nitpicky on some minor issues (i.e covers for electrical outlets that probably cost less than a dollar each) while they missed some signficant issues (the large living room window needs immediate replacement and is about to fall out of the wall).

I hope this helps. I believe NACA can help save a buyer tens of thousands of dollars over the life of a mortgage- but you need the patience of a saint, and must be better educated than the average consumer in order to work with them.
6 votes Thank Flag Link Mon Feb 4, 2013
I am in same boat, she was pre cleaned up should go fast, now on the last day of the second extension of a 45 contract, no one wants to own up or admit anything, i call their head gal in Texas, and even she wasnt really any help.... As a realtor, i will not take a NACA offer on any of my listings
Flag Tue Dec 15, 2015
Thank you! this helps my current situation
Flag Fri Jun 27, 2014
Hello Semerun,

Your overall description of NACA pretty much on point. However, in regards to using a contractor, NACA will 'approve' an outside contractor as long as they are licensed, insured and bonded. The contractor would just have to submit their current license, proof of liability insurance & W-9 and then they are 'approved'.
Flag Mon Feb 4, 2013
Terrible. Go for a regular FHA Loan. Check out The Lenders Network.
3 votes Thank Flag Link Tue Aug 25, 2015
I have read all of the reviews about Naca, and I do feel that every one is entitled to their own opinion and everyone experience is and will be different. I truly feel that the only way that you cannot get approved through Naca is basd on your self only. Naca has came a long way from a couple of years ago, with customer service. I started Naca back in 2012, when I was just looking into things. I had recently filed BK and had to wait 2 years. Back in 2012 Naca charged $50.00 monthly fee, which is now no longer. My 2 year BK will be in 2 weeks and I have had met with my counselor in July to verify all documents needed. So far so good. I have uploaded every single document, and the only thing i am waiting on is to get to udnerwriting the day that my BK will be 2 years. Yes, they asked for lots of letters of explanation, from address disrepecency, BK, credit inquiries, large deposits, large withdrawals, etc. However, I am in the mortgage industry so I wrote all letters, signed them and uploaded. I did not have an issue gathering the documents. An manager even looked at my file and advised me of other docs I would need, example, proof that the IRS has been paid off since I owed for the current year and letter from student loans indicating that my payment is higher than 0.00 but lower than what credit report says. I have a folder on my computer with everything that I have submitted, in case something doesnt upload. I just think its about be prepared to get the documents, send them quickly and move on. Yes it can be frustrating, But i think it is worth it. I have not personally been frustrated yet. My counselor emails me back right away. If i can with a question, the rep reaches out to the counselor and ask her and lets me know immediately. The fact that the rates are lower and there is no mortgage insurance is #1 in my book. I appreciate the fact that they want to make sure your ready to purchase. Most people think they are ready, because they pay rent for that much. Its more to buying a house. You cant be ready if you can manage money enogh not to get NSF fees. You can be ready if you have $0.00 money from one check to next. We went though a huge crisis few years back, from no income loans. NACA is wanting to make sure you are truly ready. Of course being the fact that there are lots of people going through the program and they have a number of mortgage counselors. It takes time. When my mtg counselor and I went over my docs, we were on the phone for 3.5 hours. So imagine how many calls they can truly take in 1 day. To go through this program, you have to have patience, and be really prepared. The volunteering isnt soo bad either. Good luck to all those looking to purchase!!!
3 votes Thank Flag Link Mon Sep 22, 2014
How can you work and spend that much time on the phone?
Flag Sat Aug 20, 2016
Hi! did you ever complete the process and get approved? Im looking into this program but am debating hard. Thanks
Flag Sun Jul 10, 2016
I have a question....did they tell you that the IRS HAD to be paid off in order to continue with the home buying process?
Flag Mon Feb 8, 2016
I just bought a house through NACA. Once our file moved to the HAND department, which handles the repairs part of the loan, it was weeks before anyone there reviewed our file, and almost 2 months to get them to review a lead paint test report. Their own documentation states that lead paint may be removed "if the member desires" and my NACA-appointed agent assured me again and again I would not have to have lead paint removed because we were siding the house. On a Thursday, a few days after HAND started reviewing my file, I started getting autoreplies from them and my counselor that the office was closed for a week beginning the following Monday for a national conference. It was almost another week after the conference that they finally got back to me and told me all lead paint inside the house would have to be abated. This caused us to miss the financing deadline on our 3rd extension and the seller terminated the agreement. I notified HAND and my counselor of this, as well as the local office manager and heard absolutely nothing back from any of them, as though I'd fallen off the radar. Only the lawyer, who did not work for NACA, suggested we write a letter to the seller explaining the situation, which we did, and he relented and gave us one last extension. HAND also assured me that since I would not be allowed to occupy the house until lead abatement was complete, the first 6 months' mortgage payment will be calculated into the remaining 29 and a half years, giving me 6 months payment-free (since I'd have to stay in my apartment) - but they forgot. When I finally got an answer from them confirming that it was indeed left out of the budget, they sent a blunt reply stating that while the budget could be re-done, it would entail full disclosure (or something to that effect) and prevent us from closing on time. No apology or hint of concern. The seller would not grant another extension under any circumstances so we've been forced to pay rent and mortgage both and will be in serious arrears if the lead abatement is not finished soon. The contractor is extremely slow, even for a contractor (and that's saying a lot), and always gives false timetables as to when things will get done. It's important to point out to people considering NACA that if you have to deal with the HAND department at all, your file is in serious jeopardy. They did in fact cause us to lose the house we were buying, through neglect and/or incompetence I'm left to assume, since they offer no explanations. During our fiasco with HAND, the local office gave us absolutely no support whatsoever. The only reason we ended up closing was through sheer goodwill of the seller. It took a total of 6 months to close, and it will probably have been 2 more months by the time we can move in. I can say from my own experience, in retrospect, I was rolling the dice by working with NACA and the stakes were very high. I cannot conscionably recommend NACA.
3 votes Thank Flag Link Fri Jun 13, 2014
very good explanation i was getting discouraged by some of the hearsay about Naca but i think i will press on
Flag Mon Sep 14, 2015
NACA IS A WASTE OF TIME.

We have spent months trying to get a loan from NACA. Our results have been:

-Spent about $100 faxing informtion to them.
-Bought them a piece of furniture as part of our volunteering.
-Taken time off for appointments.
-Paid membership fee.
-5 Unreturned phone calls. Still havent' heard back from them. The reception would say that the rep was in the office and free, but then my calls would go to voice mail.
-2 Telephone appoints. The rep did not call at all.
-Nasty looking office.
-Countless hours gathering all of the information that they want. Not like a tradtional loan.

I would not waste my time with NACA. I read the reviews. No company is perfect, but this is ridiculous.
The interest rate is what kept us going back. But we didn't get any results.

NACA was a waste of time for me!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!11
3 votes Thank Flag Link Wed Aug 28, 2013
Naca requests that you fax or email (into its system that reads faxes/emails); this faxing system does not print out at an office; it faxes into an electronic system (scanning of sorts) for varies parties at NACA to access (same with email). This is separate from traditional faxing/email; which is why they give you that unique fax/email address with your member number incorporated. BUT it NEVER works, so you end up re-sending over and over again - giving them another excuse to ignore you. Let's see: 1) You get voicemail, 2) Our computers are down (everyday), 3) Counselor is sick, on vacation, out of the office.4) They're here, didn't they pick-up? (my personal favorite, btw). 5) Or they simply just asked you for the same documents you gave them during your meetingsssss (plural) - if they show up.
Flag Sun Oct 4, 2015
Who faxes anymore?
Flag Tue Sep 29, 2015
I has been with naca for 4 month and as long you followed the instruction they answer my calls and I have all my file up today and so far no conplaint the must is read the book and do what they tell you to do.....
Flag Sun Oct 20, 2013
It's taking you 6 months to get qualified for a loan?
Flag Thu Aug 29, 2013
It's taking you 6 months to get qualified for a loan?
Flag Thu Aug 29, 2013
i agree this is a waste of time. it should not this long. they told us it would take 3 days and so far it is 6 months.
Flag Thu Aug 29, 2013
Love NACA I tell everyone to use them. You should to.
2 votes Thank Flag Link Fri Dec 18, 2015
Imagine purchasing a home from the DMV or the social services office. That is NACA. At the beginning, they will tell you that how long it takes to get NACA qualified depends on you. If you simply give them all requested documents, they say, you will not have the same problems that 99% of people have.

And so you will upload all requested documents to your file before your first meeting. Only to have the counselor tell you that you need additional documents. But don't worry, he'll say, you'll be qualified in a week or two. As soon as you get home, you upload the documents. You figure you are ready to go. You email the counselor, telling him you've submitted all requested documents and asking him to submit your file to underwriting for approval. You get no response. You follow up. No response. Finally, after many emails, the counselor responds, saying that he is too busy to work on your file unless you are physically sitting before him watching him work. You must schedule an appointment.

The next appointment is not for two months. All the while, you are submitting updated documents as you've been told. You show up for your appointment, thinking that the counselor will finally submit your file as he said he would. After an hour of watching your counselor type on the computer, he hands you a list of additional documents you need and schedules you for another appointment. You ask if you can just upload the documents to your file and have him submit the file without you coming back for another appointment. In a roundabout polite way, you try to explain that you actually have a job and coming to the NACA office in the middle of the day isn't it. Fine, your counselor says, and he schedules you for a phone appointment next week.

On the day of your phone appointment you do not hear from your counselor. You call him multiple times but get voicemail. You then send numerous emails following up. Finally, he emails you back stating that you must come in and watch him work on your file. He schedules you for an appointment a month away.

Your appointment is the same as the last. You watch him work. But at the end, he tells you he will submit your file at the end of the week. Yes, finally! you think. You go home and look at homes on the internet. At the end of the week, you follow up and...nothing. You continue to write follow-up emails, straining to be polite. Then, a couple weeks later, you get an email stating that your counselor is no longer with NACA and that you must make an appointment with your new counselor. The next available appointment is a month away, smack in the middle of your work day.

You call out sick and go to meet your new counselor. After watching her type on the computer for an hour, she gives you a list of items that you need to submit. You explain that your first counselor did not ask for these items. You explain that your first counselor said he was submitting your file and quit/was fired right before he could. Your new counselor does not care. "We told you at the beginning this was a rigorous process, she says.

You wonder about the word "rigorous." The word suggests that you are somehow benefiting, growing stronger, from the "rigor" of the NACA process. It also suggests that you have some control over the situation. If you meet the challenge with the proper rigor, you will reach the top of the mountain. However, this whole NACA process has been completely out of your control. There was absolutely nothing you could have done to make things go more quickly, more smoothly. You have not benefited. Rather, you have suffered needlessly, wasting hours and hours of your life and risking your job by calling out sick for appointments.

It occurs to you that instead of wasting all this time with NACA, you could have taken a second or third job and by now made enough money for the down payment NACA was going to help you with. You might already have a house. But you are invested. You've spent countless hours trying to get qualified (only the first step in the process) and gosh darnit you're not going to give up now. You go home, and for the next three years of your life you upload every vaguely important document from your life to NACA's website.
2 votes Thank Flag Link Sat Nov 7, 2015
DustedAngelz, you should be an author. Very vivid writing. I loved this review, and I'm simply just a person researching about the program.
Flag Thu Aug 11, 2016
This is a very well written account of my exact experience thus far! my husband and I are 3 years into our experience as our file sits in underwritting. I thought it was just the NACA Chicago office but this seems to be the case everywhere. Where are you in the process now?
Flag Thu Jul 21, 2016
OMG, you have described my experience so far to the letter...I am thoroughly creeped out...
Flag Fri Jun 10, 2016
My wife and I purchased our first home through NACA just recently. They were able to get us a loan at at 2.25% interest rate through their unique interest buydown program. Instead of paying down the principal with a down payment, you can instead buy down the interest rate. If you plan on being in the home longer than 5 years this is a much better use of the money and saves in the long term. Also, they now completely cover the Private Mortgage insurance which knocks off even more money. Their program saved us a about $600 per month vs. a traditional mortgage.

We now own a 3 bedroom home in California, which is saying something since California is expensive and very competitive. Our counselor, Ron, was great through the process and always willing to answer my many questions.

Highly recommend the program for any home buyer. Just be forewarned: the process can take a while! Took us over 1 year from when we started the program to when we owned a home. About 5 of those months were going through the NACA qualifications. The amount of money they have saved us though far outweighs the time commitment. Just stay committed and stay on top of things. Give them information immediately when asked and don't drag your feet. Those with experience in real estate know how important timeliness is.
2 votes Thank Flag Link Fri May 15, 2015
More than 35,000 people have become homeowners through the NACA Purchase Program. The program is not designed to be fast or necessarily easy, but patience and perseverance will get the home buyer no down payment, no closing costs, a fixed below market interest rate, and the ability to buy down the interest rate even further, potentially to near zero.

There is NO PMI and the monthly membership fee is now paid by the bank.

Just go to the NACA website at http://www.naca.com and sign up for a free Home Buyer's Workshop.
2 votes Thank Flag Link Sat Apr 18, 2015
This is great, but I have been paying a $50 fee for more than five years now. How do I get this stopped. My contract says it is for five years.
Flag Sun May 22, 2016
More than 35,000 people have become homeowners through the NACA Purchase Program. The program is not designed to be fast or necessarily easy, but patience and perseverance will get the home buyer no down payment, no closing costs, a fixed below market interest rate, and the ability to buy down the interest rate even further, potentially to near zero.

Just go to the NACA website at http://www.naca.com and sign up for a free Home Buyer's Workshop.
2 votes Thank Flag Link Sat Apr 18, 2015
Don't Do It ! Get a loan with your local credit union instead. Arrange for the Seller of the property you want to buy to pay for your closing costs and buy your rate down. Save money for a good down payment. You don't have to go through the NACA process to get a great loan. If you are in the Milwaukee, WI area and are looking for an experienced Realtor and good
lending options, give me a call. There are many great programs with grants available up to $8,000 for down payment. 414-216-3463
Flag Fri May 15, 2015
Someone on here said that you have to have a credit score of 700. That's simply not true. I just purchased my home in July 2014 and my credit score was 637. Credit plays no part in their decision on whether you are approved or not. They want to see that you have your bills under control, are paying on time and can afford to buy a home. Your credit score plays no role in approval. just have things back on track with your finances
2 votes Thank Flag Link Wed Feb 25, 2015
Do not sell your house to a buyer who uses NACA. Unless you don't mind waiting 60 days or more.
THEY ABSOLUTLY SUCK, if your the seller waiting for a buyer with a NACA LOAN. The buyer who bought my home is renting back the house I sold him because NACA hasn't finished the loan papers to the people he sold his house to. He was lucky I was able to move to my other house, and let him rent my house he is buying. To top it he had to pay another 800+ dollars to keep his interest rate.
Also the headache for me is paper work since I am renting to my buyer. More questions come up, who is responsible for break downs in my house. When it should have closed over 30 days ago.
I WILL NEVER SELL TO A PERSON USING A NACA LOAN.
2 votes Thank Flag Link Sat Dec 13, 2014
I began my process with NACA at the buyers workshop 01/25/14. My initial consultation with my mortgage counselor was 06/04/14. There is ALOT of paperwork and explanations that need to be submitted. So far everything seems to be moving along. While i was doing my volunteering in the local NACA office I actually saw two families closing on the same day!!! I have experienced nothing but positivity from all of the NACA representatives in the Houston office. They are all friendly and helpful. Any snags that have come along have been because of the information I have provided. My counselor has told me that based on my current information I should be ready to be approved within a month. I will keep you guys updated with my progress.
2 votes Thank Flag Link Fri Jun 27, 2014
Hello.. I live in Houston TX.. I recently got approve for my naca loan.. I'm on the process to star looking for a house.. For me the process of qualification was long because I'm not on a hurry we took the first seminar dicenber 2014.. I will update you guys.. I know the actually to close in a house is going to be long process too. I will update you guys..
Flag Sun Jul 26, 2015
Just curious. Have you closed?
Flag Fri May 1, 2015
Here it is 12/17/14. Just checking in. Its been a few months. my naca file was finally sent mortgage app was finally sent to lender today!!! my timeline is as follows:
1st meeting with NACA mortgage counselor on 06/04/14
NACA qualified 09/29/14
app to lender 12/17/14
In between there was a lot of back and forth. A lot of miscommunication between my documents and NACA uw. The naca MC and UW are overworked and I understand the delays due to the fact that the naca reps have very little if any down time to handle files other that the file of the person in front of them. I did get frustrated at the process and how it seemed an if once I met one condition another condition popped up. well I will check back sooner than later to let you guys know I finally closed. Wish me luck!!
Flag Wed Dec 17, 2014
Update: as of today 09/29/14 I actually received an email from NACA informing me
That I am NACA qualified as of today!! My journey began 01/2014 with my visit to the workshop. I received my appointment for May 2014 but I had to reschedule for June 2014. I saw my mortgage counselor for the 1st time 06/04/14 and purchase workshop is scheduled for 10/02/14. It took 4 months to get to the naca qualified status. I will provide more updates upon return from the purchase workshop on Thursday.
Flag Mon Sep 29, 2014
Hi tysonbodavis, im thinking of using NACA and im also in houston, but now im scared for all the reviews, please let me know if it goes well, my email is andreamedina@live.com. thank you!
Flag Mon Aug 18, 2014
UPDATE: My file is currently in underwriting. It was originally sent 07/09/14 and I received notice on 07/16/14 that I needed to clarify a few things on my rental and bank statement. I sent those clarifications back in to my NACA representative on 07/25/14 and I received an update from my naca representative today that everything looked good and that underwriting was backed up, so i should have a response within 7-10 days. I will keep you guys updated.
Flag Thu Jul 31, 2014
Horrible experience this far. I made it thru the ppwk process but the real estate agents are unprofessional and very disrespectful.2 weeks in looking for a home I had to get a new real estate agent...only to find they are all nasty. Naca isn't set up to get you in a home in a great area but to put you in an up and coming area that's been up and coming for years and still aint came up. Naca sucks
1 vote Thank Flag Link Wed Jul 6, 2016
I am having the most horrible experience with NACA. First I submit my papers only to get to the office and my counselor tells she never got them over and over again. Then when I finally think I am qualified she tells me she will submit my file on dec 18th . and here it is March and I haven't heard anything. I called, emailed, texted, everything , even to member services who keep asking me the same dumb questions YES I submitted ALL my papers. When Brenda my counselor finally emails me she tells me I need all papers in order to be qualified and to pay 2016 fees and credit report, which has gone up. I emailed her back and told her exactly what she told me in Dec. that she would submit my file. THIS IS RIDICULOUS!!!!!
1 vote Thank Flag Link Thu Mar 10, 2016
I bought my first home through NACA, It was a wonderful experience. The office where I live was not the most together place, but that is okay. They did the best they could and I bought my home, and as they say, no closing costs, mortgage insurance, 1% below prime, and no down payment. It made my buying a house possible, and so I have nothing but good things to say about them.
1 vote Thank Flag Link Thu Jan 7, 2016
Yes they are ligament, I just got one of my client approved thru NACA with 3.625% , but realtors beware they have an in house real estate Broker and they will try to take your clients make sure you have an executed exclusive buyer agency agreement with your client before you refer them also make sure you go to there work shop by in listing on line at http://www.NACA.com

for questions feel free to contact me http://www.urpro.net
1 vote Thank Flag Link Thu May 7, 2015
Hello R. Wright,
The $50 fee that used to be charged to members is no longer charged and is actually paid by the participating lenders. However, when the $50 monthly fee was charged (which was for 10 years), that money went into a pool that would be used to help members pay their mortgage should they fall on any type of hardship that caused them to miss payments. So, if that plan wasn't 'pro-homeowner', I don't know what is. Also, attending events for 5 years is just a means of volunteering. A way to give back. After being able to get a mortgage with no money down, no closing costs and the ability to buy down the interest to practically 'zero'; 5 years of vounteer service at NACA events is a small price to pay.
1 vote Thank Flag Link Sat Feb 9, 2013
me and my husband I started this process back in feb 2016 going to the purchasing workshop, went to our first counselor meeting back may 2016. then back again in july 2016 showing that we had the funds into the account. had all the paperworks and stuff, went back in aug 2016, told us our file will be submitted, never got submitted til 9/22/16 came back with conditions, had to verify all the conditiions from the uw and with explanation of every credit inquires, cr with address, and you know in these day and time we dont have stuff sent to address everything is from printed email and stuff. but they wanted explanation of address and stuff send that and plus other stuff, file went out again on 9/27/16 to the uw . right now im getting frustrated and stress dont really think we are going to get in we was trying to be move by end of december dont seem that is going to be working out. this might not be for us i will see cause im feeling more stressful going thru this naca program, i feel if you dont no one that went thru it personal wondering if it is a waste of time. im thinking about going thru a private lender or something. im so disthorn with this program. im at the end of my rope now, my husband is so exciting about this program but im not really no more, i was at first, i dont see nothing moving sometimes the counselor will return email , and sometimes she want, but she is a very nice person, i even email the front desk reception never email back, but if it pretending to $ they will email u back and etc just dont understand, they want u to volunteer 2 workshop b4 u get qualified and stuff. but is it worth the 4 hrs of attending to volunteer and still have to wait to get qualifed and wondering if and when you getting qualifed into the program. im disgusted right now about the wait all homes will be sold by the time you get qualified for the program
0 votes Thank Flag Link Yesterday at 2:43pm
NACA is a waste of time. I had all my paperwork together and sent it in before the appointment in the Houston office. I arrived before my appointment and my counselor took over an hour to come out and get me. I kept inquiring and was told he was coming. When I get to the back he takes another 30 minutes helping another counselor look for paper for the printer. He then comes in and asks for the documents I had already sent him. I had hen with me so I gave it to him. He asked for the payment to run my credit. I paid and he told me I could only get approved for less than I wanted which was way less than the max approval amount. This seems odd bc I have a cc that I keep to have an open line of credit with a $90 balance. The counselor tell me we went you to be able to have a house and go on vacation. I let him know he does not need to worry about that as I have no bills other than phone, etc. I was interested in NACA bc of the no down payment PMI and closing costs. If I can't get the amount I requested then I will go with the loan I got approved for. He hen went on to say you have to have shock money. I said I have that. He was like we still have to see your bank account increase. I told him I have the money saved in another account listed of which I gave him all my info and had been saving over years and had way more than my shock amount, so I am not seeing what the problem is. Long story short, I was prepared and he seemed to have a problem with that. I tried trying to reach someone to no avail. Needless to say I am closing and have to pay DP and PMI. The difference in the payment for the amount I wanted would have been like $153 less, so not too bad and well worth not having to deal with NACA.
0 votes Thank Flag Link Mon Sep 19, 2016
Do you have to buy a home in the area that they work in. Can find a home in another area of Pennsylvania even though they operate out of Philadelphia
0 votes Thank Flag Link Sat Sep 10, 2016
They have a really good program but there understaffed but if you have the patience to work with there program its a really good program.
0 votes Thank Flag Link Thu Sep 1, 2016
$50 is paid by the bank and not the member. That was what i was told.. Used to be paid by the member but now all that has changed

That was what i was told during my meeting
0 votes Thank Flag Link Fri Aug 26, 2016
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Web Reference: http://InBedrock.com
0 votes Thank Flag Link Mon Aug 1, 2016
Lydia.

My husband signed up with NACA almost 2 years ago and the unprofessionalism he has received from Shari, of the Los Angeles branch, is unbelieveable. She is not responding to offers being sent to her by our realtor and when he goes and do things on his own he gets a call from her saying "if you go behind my back again I will slow this process down where you will be looking for a house for the next 3 years". That's just one of many negative comments he has received. Her supervisor isn't any better. He won't respond to any emails or calls regarding her. Who can we contact besides this person's boss? Is this program regulated by the State? Can we contact them?

Help in Los Angeles...
0 votes Thank Flag Link Mon Aug 1, 2016
Lydia.

My husband signed up with NACA almost 2 years ago and the unprofessionalism he has received from Shari, of the Los Angeles branch, is unbelieveable. She is not responding to offers being sent to her by our realtor and when he goes and do things on his own he gets a call from her saying "if you go behind my back again I will slow this process down where you will be looking for a house for the next 3 years". That's just one of many negative comments he has received. Her supervisor isn't any better. He won't respond to any emails or calls regarding her. Who can we contact besides this person's boss? Is this program regulated by the State? Can we contact them?

Help in Los Angeles...
0 votes Thank Flag Link Mon Aug 1, 2016
I have never heard of the company but do your research. We have been in our home for just a year and our biggest nightmare came to pass. The ac unit going out and having to pay out of pocket to get the problem solve. There is not a lot of honest people in this sad world. But when you find good people keep them close. The main things I would look at is foundation, roof, and a/c and heating unit. This is our second home and we had to replace the units in both. The first home was 5 years later the new home a year later. The owner put a warranty on the home but that wasn't long enough. I will call them to see if we are still within in the terms. But no one wants to have to pay 400 or more on utility bills. So the financial part of buying a home is important. But please keep in mind the foundation of that home is also important. Because we are so caught up with the money and getting a great deal we lose out on getting the meat and potatoes of the deal. I try to be on top of the situation but in the long run you can get screwed very easy now days. Have a roofer look at your roof and a/c unit check by a service person. Because the inspection guy is there to protect the realtor, title company, and the owner.
I hope this will help someone who is buying a home. Don't take no for a answers. Make the buyer do the repairs or walk its not worthy the pain and financial burden...........................Omaha NE
0 votes Thank Flag Link Thu Jul 28, 2016
I have never heard of the company but do your research. We have been in our home for just a year and our biggest nightmare came to pass. The ac unit going out and having to pay out of pocket to get the problem solve. There is not a lot of honest people in this sad world. But when you find good people keep them close. The main things I would look at is foundation, roof, and a/c and heating unit. This is our second home and we had to replace the units in both. The first home was 5 years later the new home a year later. The owner put a warranty on the home but that wasn't long enough. I will call them to see if we are still within in the terms. But no one wants to have to pay 400 or more on utility bills. So the financial part of buying a home is important. But please keep in mind the foundation of that home is also important. Because we are so caught up with the money and getting a great deal we lose out on getting the meat and potatoes of the deal. I try to be on top of the situation but in the long run you can get screwed very easy now days. Have a roofer look at your roof and a/c unit check by a service person. Because the inspection guy is there to protect the realtor, title company, and the owner.
I hope this will help someone who is buying a home. Don't take no for a answers. Make the buyer do the repairs or walk its not worthy the pain and financial burden...........................Omaha NE
0 votes Thank Flag Link Thu Jul 28, 2016
I have never heard of the company but do your research. We have been in our home for just a year and our biggest nightmare came to pass. The ac unit going out and having to pay out of pocket to get the problem solve. There is not a lot of honest people in this sad world. But when you find good people keep them close. The main things I would look at is foundation, roof, and a/c and heating unit. This is our second home and we had to replace the units in both. The first home was 5 years later the new home a year later. The owner put a warranty on the home but that wasn't long enough. I will call them to see if we are still within in the terms. But no one wants to have to pay 400 or more on utility bills. So the financial part of buying a home is important. But please keep in mind the foundation of that home is also important. Because we are so caught up with the money and getting a great deal we lose out on getting the meat and potatoes of the deal. I try to be on top of the situation but in the long run you can get screwed very easy now days. Have a roofer look at your roof and a/c unit check by a service person. Because the inspection guy is there to protect the realtor, title company, and the owner.
I hope this will help someone who is buying a home. Don't take no for a answers. Make the buyer do the repairs or walk its not worthy the pain and financial burden...........................Omaha NE
0 votes Thank Flag Link Thu Jul 28, 2016
In Memphis the membership fee is $25 per year
0 votes Thank Flag Link Wed Jul 20, 2016
What the hell is wrong with the workers at NACA Memphis office, even the manager wont return my calls. I just need a Yes or No answer and have to schedule an appointment just to get that.
0 votes Thank Flag Link Wed Jul 20, 2016
I have nothing but good things to say about NACA. I went to their workshop in Denver in January. The process went really smooth for us. We closed on our home in Thornton, CO in May. My wife and I both greatfully appreciate all the help we got from NACA. We would still be renting if we didn't get their help. I would recommend the NACA program to anyone looking to buy a home.
0 votes Thank Flag Link Mon Jul 18, 2016
Over all I had a wonderful experience. There is a lack of communication between counselors and clients, I had to make several complaints but I end up with a interest rate of 0.013% for my single family home in long Island. Naca is an not for profit organization and you don't have to make a down payment and so many other fees are waived. They also stopped the $50 a month membership fee. It took me 10 months to complete the program and even though certain parts of it was extremely stressful it was worth it and I would definitely do it again. In the end you will be qualified for a mortgage with citibank, not a pre approval.
Web Reference: http://naca.com
0 votes Thank Flag Link Fri Jul 8, 2016
I WENT TO NACA TO HAVE MY MORTGAGE REFINANCE. I WAS THERE ABOUT 5 HOURS,BUT IN THE END IT WAS WORTH IT. MY MORTGAGE WAS INTEREST RATE WAS REDUCED TO 3.5% AND MY MORTGAGE WAS REDUCED $540 A MONTH. IT REALLY WORKED FOR ME
0 votes Thank Flag Link Wed Jun 15, 2016
I also have been dealing with Naca for over a year, a year of my life wasted, with constantly getting the run around and resubmitting same documents. The customer service is horrible my first counselor got fired or quit the second one was on his pipe vaping while I was in the room. My credit is also good I got lured in with the promise of no down payment no closing cost and no PMI payments. My advice would be for you, don't waste your time go and find another lender.
0 votes Thank Flag Link Thu Jun 9, 2016
The customer service is terrible. My husband and I have been going to them for a year. Every time we go we are told something completely different than the time before. We have a 660 credit score, everything paid on time for several years,no outstanding debt,approximately $11,000 in our bank accout and have done the shock payment they require for 7 months and still are no approved. We have been pre approved by a different lender and are probably going to just give up and go with them. Our counselor is Edward out of the Las Vegas office and he is terrible. Sad, we have wasted a year trying to go through them.
0 votes Thank Flag Link Mon May 9, 2016
I think it is fraudulent. I believe they do the bare minimum to help people. I know someone who was jerked around and given an approval letter, but the person who allegedly approved the loan hadn't been at the bank for 2 years. That is fraud. Save yourself an enormous headache, figure out a different way to buy a house or keep on renting!
0 votes Thank Flag Link Thu Apr 28, 2016
my experience with NACA so far is going good. The key word here is patience. This is not a fast moving process. I just got NACA qualified this month February so I'm now at my next stage of looking for a single family home or a condo so I'm very excited about this. Please keep in mind that everyones dealings with NACA is different. I started on October 2015 and was qualified in February 2016 so it's up to the individual to get all of their papers in order. I stand behind NACA and I know on the end of this journey I will have a home or a condo. I have the patience and I make sure all of my bills are paid on time and that there's no open debts from the past. The key here is to not creat anymore debt.
0 votes Thank Flag Link Sat Feb 27, 2016
Membership fee is $20 to join only
0 votes Thank Flag Link Mon Sep 28, 2015
I have been in the program for a while and it definitely requires patience. Thankfully I am at the end of the process and should be closing at the end of the month. My fixed interest rate is 1.5%. The program can be frustrating at times because of the amount of time that it takes but over all it was worth it!!!!
0 votes Thank Flag Link Sun Aug 23, 2015
I had a horrible experience and gave me a run around for months. Provided all documentation and when presented to the underwriters, the counselor continued to give me the run Around. Not to mention I went through 3 different people becauSe they kept claiming that the person quit! So 3 different counsellors on my case quit? Bottom line within 6 months after I stopped NACA I was able to purchase a home privately with a mortgage broker. NEVER WILL RECOMMEND THEM
0 votes Thank Flag Link Sun Aug 23, 2015
NACA IS THE WORST PERIOD. NO OTHER WORDS FOR THIS. THIS PROGRAM IS A JOKE!!!
0 votes Thank Flag Link Mon Jun 15, 2015
I AGREED 100&%
Flag Sat Jul 18, 2015
The agents are second (or third) rate. When trying to sell our home we had one agent, initials P.S. who booked an appointment twice and didn't show both times. When we called the office, no answer, no response, and no return call at all. They take customer service to a new low.
0 votes Thank Flag Link Wed Apr 8, 2015
NACA is a complete waste of time.
First, they advertise that credit rate is not an issue. That is a LIE. You MUST have a credit score of over 700 to even be considered. Of course, you are admitted into the program with a low credit score but you will quickly find out that you have to FIX your credit before getting a loan. No different from a bank. You will be spending the next 12 months with a 'counselor' who knows jack about real estate.
NACA is TOTALLY INCOMPETENT.
They give bad advise, cannot answer a simple question and is notorious for losing files. Their computer programs is elementary and do not handle anything above 2+2. They are not compatible with any other programs and is frustrated to work with.
We started in the program May 2013 and is still being evaluated for a loan. We were approved by Quicken Loan when we changed and entered the program. If we had stayed with QL we would have been in our home by now.
In the final analysis, NACA is a waste of time, energy and monies. You have to pay for EVERYTHING except PMI and a 1% below market which is not worth the effort.
I say, go to a conventional loan company or a bank and work with them. You will be much happier. NACA's organization is inept; a bunch of idiots who get off feeling like they are 'helping the downtrodden,' but are really causing more and much frustration to people who are trying their best to get a home.
One of the biggest problem we had with NACA is that no one is accountable for anything. There is no boss or anyone to which you can complain. You only work with your totally STUPID counselor. No one else will talk to you. Everything goes through your counselor and no one else!!!
NACA is ran by a bunch of IDIOTS!!!
0 votes Thank Flag Link Fri Jan 23, 2015
My credit score is nowhere near a 700 and I was just NACA qualified after only 3 months from my initial contact with them. What they do look at is that you have paid all your bills on time in the previous 12 months. Maybe the difference is the MC as mine is completely awesome and has remained in contact with me almost daily. He has stayed on top of everything and even when we ran into a snag with the underwriter he went to her supervisor to get us moving along as quickly as possible.
Flag Fri Jul 10, 2015
The $50 a month is new to me from when NACA first started. I am a real estate agent who has dealt with NACA since the second workshop they ever had in Houston. I have lost so many clients to NACA because of their mismanagement of clients/paperwork/losing counselors/etc. For some reason, I still kept sending clients to them probably just based on the potential for having the very best first time home buyer product in existence. But after being let down so many times, I guess I have to throw in the towel. My latest client's experience, who have been with them over a year. She has done what was requested of her each time (each month given a new requirement that wasn't mentioned the previous month and given a new counselor 4 times - each one having to go over her case all over again, not to mention that they are all out of town and not here in Houston (this is new to me as well because in the beginning you met with your counselor, not had phone interviews as they are doing now)), has given me a reason to raise the flag of defeat. I just can't give any more energy to NACA. It just hasn't made since for sooooooooo long as to how you could have the best product, yet not get a majority of the people that come to your workshops approved. Someone said to me the other day that if it is a non-profit (thinking getting money from the government), they just stay around for the administration fees. I don't know about that, but I do know that I have watched them being the worst managers of any company I know. I guess you can tell that I have been frustrated with them for a long time now. Thanks for letting me vent!
0 votes Thank Flag Link Mon Nov 17, 2014
I'm not doing business with NACA and I'm not buying a house. I don't know if this is relevant to NACA, but this is my situation: I rent a unit in a house the owner is selling. The prospective buyers are financing through NACA. I have a lease that doesn't expire until June 2015, but the new owners are trying to force me out within the next month. I don't know how involved NACA is in this--probably not much, if at all--and I've never bought a house so I don't know how the deal is being conducted, but I just wanted to put that out there in case NACA is involved in trying to force me out, which is illegal.271
0 votes Thank Flag Link Tue Aug 5, 2014
I have seen a lot of bad reviews online and a few good reviews most of which come from people who work for or with NACA they imply it's the buyers fault they were not approved etc. Dispite the terrible reviews we decided not only to work with NACA but refer dozens of people. We have been working with NACA for a year in July and have no home. I and my husband both have credit scores of 650 no serious credit issues, bankruptcy , etc all bills have been on auto pay for the last year all documents submitted weekly each time our file was sent to the under writer they need more. We have saved triple the required amount agreed on for our closing cost and yes there is closing cost with no down payment we live in Philadelphia, Pa and our NACA office is the most incompetent and under staffed I have ever seen. The receptionist lies and we never speak to our counselor we call and email her everyday and nothing unless we speak to her supervisor who by the way quit and now our counselor has taken that position still have not heard from her since she called two weeks ago stating she had all she needed to resubmit and nothing it's almost July 2014. We are walking away my kids have no school to go to next year my oldest graduated and we were supposed to move months ago. So to the real estate agents that have the answer please contact me and let me know how to finally have my file sent to the underwriters or steer us in the direction of another first time home buyer program we have a credit union and will be contacting them next week we need all the assistance we can get and I'm completely done with NACA. I see nothing wrong going with FHA etc millions of people get their mortgages through other programs besides NACA and survive we have a good income we are not low income and we own our business whatever the future holds for us financially is bright for we have multiple streams of income and we are sure what we can afford now and later. NACA has frightened us with the fear of families losing their homes because they couldn't afford it in the first place lost of jobs etc as I states prior folks survive without NACA.
0 votes Thank Flag Link Sat Jun 21, 2014
I have been attempting to get approved with naca for 5 months now without success. i have done everything they have asked of me. everytime i get close to being approved they need this or they need that. it was only suppose to take originally a week to get approved and yet we are here in the exact same spot 5 months later. i have faxed,emailed, hand delivered my documents numerous of times which they continue to loose. i can never get my agent on the phone and that's like pulling teeth. i feel like they give you the run around. this has been the most frustrating experience of my entire life. had i known what i know now i would have NEVER EVER used naca. go traditional and save yourself the time and tears. its not worth it. cus at the end of the day i still dont have a home
0 votes Thank Flag Link Wed May 14, 2014
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