NACA - Neighborhood Assistance Corporation of America (A NON-PROFIT LOAN OPTION YOU NEED TO KNOW ABOUT!)

By
Real Estate Agent with The Elizabeth Nieves Realty Group
http://actvra.in/Fj8

IF I told you that there is a  HOMEOWNERSHIP PROGRAM that will allow your buyers to purchase a home with:

  • NO DOWNPAYMENT................................You would probably say: (NO BIGGIE...)
  • NO CLOSING COSTS.................................You would probably say: (NO WAY!!!)
  • NO CONVENTIONAL CREDIT.....................You would probably say: (NOW...You are just CRAZY...LOCO!)
  • NO MORTGAGE INSURANCE......................You would probably say: (WHAT planet are you from?)
  • NO KIDDING!!!.......................................You would probably say: (OKAY...I'M LISTENING!)

 

NOW that you are listening...LET ME ADD: 

  • 30 YEAR FIXED RATE
  • A BELOW MARKET INTEREST RATE (CURRENTLY 5.625%)
  • RATE CAN BE REDUCED TO ZERO!!!

 

YOU ARE ASKING...WHAT'S THE CATCH??? HONESTLY...THERE IS NO CATCH!!!

 

The Neighborhood Assistance Corporation of America ("NACA") is a non-profit, community advocacy and homeownership organization. NACA's primary goal is to build strong, healthy neighborhoods in urban and rural areas nationwide through affordable homeownership.

 

I first learned of NACA several years ago...through a client. This particular client had almost no credit, and he earned $12/hour. The very best loan option I could find for him was an FHA; however, he did not have enough money for the down payment. He learned about NACA through a friend who had just closed on his new home...at a 4% FIXED RATE!!! When my client told me about his friend's mortgage, I could not believe what he told me. My disbelief prompted me to investigate...IF FOR NO OTHER REASON THAN TO PROVE THAT IT WAS NOT TRUE!

 

My mom always taught me to admit when I am wrong. Folks...I WAS WRONG! NACA IS REAL! I have since helped many first time buyers to purchase their home using NACA to obtain their loan. Let me tell you about my first NACA clients.

 

Alejandro and Tana lived in a mobile home community. Their backyard was a parking lot. They dreamed of buying their own home with a huge yard for their children, but they had little credit. I referred them to NACA, and they were approved for a $140,000 mortgage. They knew exactly what kind of home they wanted, because they had been dreaming about it for eight years. Within days of being approved by NACA, they were under contract to purchase the home of their dreams. Eight weeks later...they were sitting at the closing table.

 

IF I had not witnessed it myself, I would not believe what I am about to tell you. Through NACA, they were able to obtain a 30 year fixed rate mortgage at less than 1%!!! TOO GOOD TO BE TRUE?? IT'S TRUE...I WAS THERE!

 

SO...WHY HAVE YOU NEVER HEARD ABOUT NACA BEFORE?

 

Although NACA is the best answer for many buyers...some REALTORS® are hesitant to recommend NACA to their clients. From my experience, the reasons for this vary from agent to agent. Some are simply unfamiliar with NACA and see it as 'too good to be true'. Other agents know that NACA is legitimate, but they feel that NACA's process is too lengthy. (In most cases, it takes 3-6 months to go through the approval process.) Quite a few agents have expressed to me that they are not willing to wait 6 months to get paid. I've also spoken with several agents who have worked with NACA and feel that the program requires too much work from the agent.

 

If I am completely honest, I agree that NACA is a NOT an easy program. Six months is a long time to wait for an approval, for both the buyer and the agent. AND...YES...NACA's stringent guidelines require much more effort on the part of both buyer and agent. I have closed many successful transactions with NACA, and all of them have been difficult. However...ALL OF THEM HAVE CLOSED! Furthermore, in every case, my clients have told me that the end result of having their own home was worth ALL OF THE WAITING AND HARD WORK. ALL of them have thanked me for recommending them to NACA and for sticking with them till the end.

 

NACA IS NOT FOR EVERY BUYER...BUT...IT WILL OPEN THE DOOR TO HOMEOWNERSHIP FOR MANY PEOPLE WHO MAY NOT OTHERWISE QUALIFY FOR A HOME.

 

**NACA is a program for FIRST TIME BUYERS ONLY. If your client owns a home, they MUST sell their home before they apply for a loan with NACA.

**NACA is NOT just for low-to-moderate income families. Anyone,who does not currently own a home, may apply for financing with NACA.

**NACA also offers refinancing. (See naca.com for details.)

 

For more information about NACA...visit their website at naca.com

Written and Posted by:

Elizabeth Nieves - Broker, REALTOR® - The Elizabeth Nieves Realty Group @ Keller Williams - www.ElizabethNieves.com

 

 

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Anonymous
Marcia

NACA did a very POOR JOB in negotiating my interest rate. Do you think that 6.75% is a good rate? I DON'T.

I was at 6.75% interest only before NACA and now it is 6.75% fixed for 27 years. BIG DEAL. In this economy I should have been given at least a 4% and I attended the Convention and waited 36 hours to be assisted by a telephonic NACA negotiator! NACA SUCKS and is a huge waste of time!! Beware!! Go to an attorney who can do the job right! 

Dec 31, 2010 02:57 PM #372
Anonymous
Praying to be a Happy NACA Customer #385 Post

Follow-up post 385-NACA did an excellent job for me!  I close on Sept 22nd  I got an excellent rate of 2.8% 30 year fix.  Everything went smoothly the day of closing.  NAcA is strick but they are looking out for your best nterest.  If you got all your i's dotted and t's cross the process is alot less painful.  give them what they ask for even if they ask for the same thing twice.  Make sure to follow up at all times.  I must say I am a Happy Naca Customer and the wait and the lack of customer service was all worth it in the end.

Jan 02, 2011 03:52 AM #373
Anonymous
Praying to be a Happy NACA Customer #385 Post

Opps hat was a follow up to post 380 and  not 385

Jan 02, 2011 03:54 AM #374
Anonymous
Jimmie Thompson

No one has contacted me. 510-415-2085

Feb 20, 2011 01:12 PM #375
Anonymous
NACA difficulties

Have been working with NACA in DC since the fall of 2010.

 

Folks here have been very kind, encouraging and supportive when we speak. 

 

But there seems to be an issue around staffing and training, which may just be part of the deal when you're working with a non-profit, but the level of disorganization is surprising and frustrating.

 

I have had to refile personal papers and forms with them on more than one occassion.  The mission is worthwhile and I appreciate the assistance and hope they can come through on our shared goal of making me a homeowner.

I'd like to see the NACA leadership put in more effort to increase the level of professionalism in the office.

Apr 11, 2011 11:39 AM #376
Rainmaker
56,379
Tye Caldwell & Associates
Keller Williams Realty Augusta Partners - Evans, GA
Sells Augusta, Columbia Cty, Ft Gordon Real Estate

Great information. I will look into more details for potential clients.

Jul 20, 2011 05:43 PM #377
Anonymous
DJ

I closed with NACA last month, it required 2 extensions and I almost lost the house (it was an REO property) but we closed at 2.125% for 30 years.  My payment is about what I paid in rent.  You just need to be organized and keep files of everything you sent them and get to know the manager of the office and have you realtor stay involved.  My realtor went to their purchase department in texas and had whoever is in charge move the file.  One day after she called we were clear to close.

Aug 22, 2011 12:12 PM #378
Rainer
248,414
James Loftis
Real Estate 911 Inc - West Palm Beach, FL
Real Estate 911 Inc

Interesting information , was not aware of this company. Will have to check them out.

Sep 05, 2011 01:37 PM #379
Anonymous
manrrique

Hola Elizaberh Nieves,,quiero darle las gracias por esta publicacion,,,yo estoy interesadisimo que me ayude con el prestamo , soy comprador por primera vez,,se puede poner en contacto los mas pronto posible por favor, estoy preparado con documentos y todo lo necesario..Gracias.

Sep 12, 2011 04:00 AM #380
Anonymous
Medjin Ducoste-Refuse

i like this program n

and I would like to more

Jun 16, 2012 04:33 PM #381
Anonymous
Patricia Iannone

I have a ticket to appear for the conference on Feb 14th -the 18th at the Washington DC armory, it gives no time to be there and does that mean anytime between those dates Can you please assist me with this

Dec 31, 2012 03:21 PM #382
Anonymous
Malissa Delh


Hello, I am Malissa Delh, currently living in New jersey city, USA. I am a widow at the moment with three kids and i was stuck in a financial situation in April 2014 and i needed to refinance and pay my bills. I tried seeking loans from various loan firms both private and corporate but never with success, and most banks declined my credit. But as God would have it, I was introduced to a Man of God a private loan lender who gave me a loan of $85,000USD and today am a business owner and my kids are doing well at the moment, if you must contact any firm with reference to securing a loan without collateral , no credit check, no co signer with just 2% interest rate and better repayment plans and schedule, please contact Mr James Lewis. He doesn't know that am doing this but am so happy now and i decided to let people know more about him and also i want God to bless him more.You can contact him through his email: lewisloancompany@yahoo.com

Jun 18, 2014 08:57 PM #383
Anonymous
Malissa Delh


Hello, I am Malissa Delh, currently living in New jersey city, USA. I am a widow at the moment with three kids and i was stuck in a financial situation in April 2014 and i needed to refinance and pay my bills. I tried seeking loans from various loan firms both private and corporate but never with success, and most banks declined my credit. But as God would have it, I was introduced to a Man of God a private loan lender who gave me a loan of $85,000USD and today am a business owner and my kids are doing well at the moment, if you must contact any firm with reference to securing a loan without collateral , no credit check, no co signer with just 2% interest rate and better repayment plans and schedule, please contact Mr James Lewis. He doesn't know that am doing this but am so happy now and i decided to let people know more about him and also i want God to bless him more.You can contact him through his email: lewisloancompany@yahoo.com

Jun 18, 2014 08:58 PM #384
Anonymous
john cliton



Below is my loan encouraging words. For loan lenders Are you financially down and need loan? Do you need loan to pay off credits and debts? Do you need finance to set up your own business? Do you need loans to carry out large projects? Do you need college loan? Do you need funding for various other processes? email contact: oscarloanfinance@hotmail.

Aug 02, 2014 05:03 PM #385
Anonymous
Loanemu

The major problem you are going to run into is the higher interest rate on a heloan or even a home equity line of credit. You might be able to do better refinancing the first mortgage depending on the rate. As a mortgage broker, I try to stay away from home equity loans unless the interest rate on the primary is so low that the blended rate beats the refi rate. Now the advantage is you will pay less in closing costs. A home equity line of credit can have zero closing costs and is flexible like a credit card, but it’s a rate based on prime. 8.25% right now. Heloan’s also amortize quicker with, terms of 10 or 15 years.

Apr 26, 2015 02:02 PM #386
Anonymous
Anita

Hello Everybody,
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Jun 23, 2015 04:18 AM #387
Anonymous
Rachel

Hello everyone am here to testify how i got my loan from Mr Akisu. after i applied several times from various loan lenders who claimed to also testify right in this forum,i thought the testimonies where real and i applied but they never gave me loan. I was in need of an urgent loan to start a business and i applied from various loan lenders who promised to help but they never gave me the loan.Until a friend of mine introduce me to Mr Akisu. who promised to help me and indeed he did as he promised without any form of delay.I never thought there are still reliable loan lenders until i met Mr.Akisu,who are indeed helped with the loan and changed my belief.I don't know if you are in any way in need of a genuine and urgent loan,free feel to contact Mr.Akisu via his email{Akisuloancompany@gmail.com} Thank you may God bless you

Jun 23, 2015 04:30 AM #388
Anonymous
Hillary Clinton




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Aug 11, 2015 05:13 PM #389
Anonymous
Hillary Clinton



Hillary Clinton

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Anonymous
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Aug 20, 2015 02:29 PM #391
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Elizabeth Nieves

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