NACA Success Stories

By
Mortgage and Lending with Acre Mortgage & Financial, LLC NMLS # 390719
http://actvra.in/KqV

Please feel free to share your success stories with NACA.

I am particualarly wanting to know about your finish product.

  1. Loan Amount
    • $__________________
  2. Term and Rate:
    • 30 years but what interest rate?
  3. Lengh of process
    • Workshop Date
    • Closing Date

This will give hope to people struggling to get a mortgage with NACA.

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Anonymous
MG

Loan amount was $330,000.  30 year fixed at 4.93.  I just closed on August 20.  My workshop date was back in January 2007, but I waited a year until both my fiance and I found stable long term jobs.  I met back up with my counselor for the first time in March 2008 and had everything ready, including saving my payment shock for 3 months.  I was NACA approved at the end of July.  The process was very tedious and the NACA people are very disorganized.  However, I can't complain.  I got an amazing product that I otherwise would have had no chance of having.  I reccomend NACA only if you are patient and persistent.  All in all, it was 100% worth it for me. 

Aug 29, 2008 10:45 AM #1
Anonymous
Dave Family

We got it done!

Thanks!

Dec 23, 2009 02:42 PM #2
Rainer
28,857
Eliud Gautier
Acre Mortgage & Financial, LLC - Deptford, NJ
Branch Manager

Dave Family, Share the details - loan amount, rate and time frame. You don't have to give up your address or identity.

Dec 24, 2009 08:27 AM #3
Anonymous
Dave Family

Actually what I mean is we gave up.
It has been 9 months... a baby could have born by now.

It did not work for us. We give up!

Thanks anyway.

Dec 28, 2009 12:38 PM #4
Rainer
28,857
Eliud Gautier
Acre Mortgage & Financial, LLC - Deptford, NJ
Branch Manager

Dave Family, Don't give up - it is going to be worth it. Let me know  what challenges you encountered maybe I could help you get it done.

Did you complete all the items on your task list?

Did you get the approval letter from NACA?

Give me some details so that I could help you get it done with NACA.

Eliud

Dec 28, 2009 01:31 PM #5
Anonymous
Dee Codlins

I'm interested in purchasing a home through the NACA program, however i'm coserned that i do not have enough savings and i'm afarid that i might be rejected. What's the average savings that the program expects you to have before purchasing a home?

Jan 01, 2011 01:59 PM #6
Rainer
28,857
Eliud Gautier
Acre Mortgage & Financial, LLC - Deptford, NJ
Branch Manager

Minimum Required Funds for NACA

 

  • 3 to 4 Months of Property Taxes
  • 15 Months of Homeowner Insurance
  • Inspection Costs
    • Home Inspection
    • Termite Inspection
  • 2 months of mortgage payment (no more then 40% of your monthly income)

OK, let us make this more practical example ....

If in the neighborhood you are looking into has the annual property taxes of $4,000 then you should have $1,000 Saved.

If your annual homeowner insurance is $900, then you need to have $1,125 Saved

Home Inspection is about $475.00

Termite Inspection is about $85.00

Reserves - 2 months of mortgage payment - if your proposed mortgage payment is $1,000 then you need to have $2,000 Saved

You should consult a local realtor the costs of some of these items.

___________________________________________

 

 

Jan 04, 2011 11:05 PM #7
Anonymous
David Gay

not sure why my mortgage comp. just sent this to me. I have been trying to get a Modification from LPBS and I get this. Does this make sence??

Mar 21, 2011 01:55 PM #8
Rainer
28,857
Eliud Gautier
Acre Mortgage & Financial, LLC - Deptford, NJ
Branch Manager

David - not sure but NACA does provide FREE mortgage modification assistance around the country. Go to www.NACA.com

Mar 26, 2011 06:29 AM #9
Anonymous
lst time home buyer/ga

So, basically, if your are wanting to purchase through NACA as a first time hm buyer it will take about what 4 to 6 months to do so?

Jun 04, 2011 12:23 PM #10
Rainer
28,857
Eliud Gautier
Acre Mortgage & Financial, LLC - Deptford, NJ
Branch Manager

Ok 1st Time Home Buyer in GA -

If you have a credit score that is under 620 you can't go any where else.

If you want to get a loan with a FIX RATE for 30 years, with NO Down Payment, NO Closing Cost and NO PMI - you have to complete the entire approval process with NACA.

Ok, it may take 4 to 6 months - depending on your circumstances and the situation with availabilty in GA - but it is going to be worth your time and effort.

Eliud

Jun 23, 2011 01:19 AM #11
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