Why NACA is the Best thing for Buyers

Real Estate Broker/Owner with Opulence Manor 300883

I have this love hate relationship with NACA, on one hand NACA is an awesome mortgage program that provides the opportunity of home ownership to individuals that would not otherwise qualify to purchase.  I mean honestly, where else can you get 100% financing with no money down.  Closing costs paid/ buy down your interest rate to almost ZERO and have the lender not use your credit score... Yes, if you didn't know, NACA is not credit score driven.  On the other hand, NACA doesn't have the best customer service.  They may have good intentions, but they are overworked and overwhelmed.  So they are probably going to misplace your paperwork once or twice... I guarantee it.  Just resubmit it.  They may even take a few days to respond to emails, It's ok.    In  the end... when you walk out the door with a rate under 2%...will you even remember... Will you even care.. Keeping in mind that the interest varies based on your unique situation.... I personally have a 2 % fixed rate with NACA...   I wake up happy everyday!

I'm a licensed Real Estate Broker and Realtor.  I personally went through the NACA program to purchase my home in March of 2009.  6 bedrooms on a finished basement in Decatur... over 5000 sq ft... I love my home... payment is under $800 in a swim/tennis community.  NACA is not just for folks with bad credit, you can have perfect credit and use NACA  Everything that you are going to have to go through, I went through...  I've done what feels like hundreds of NACA transactions.  I consider myself a NACA guru as do my satisfied buyers.  My buyers will attest that I know NACA and I know how to navigate NACA in the shortest time possible.

The key to NACA is #1.  Having a Realtor who knows the NACA program inside and out.  That would be me. #2 is getting organized and prepared.... Having all your documents ready to go is key.  #3 Do exactly what NACA tells you to do.  The hardest part is attending a workshop!   Once you meet with a loan counselor, NACA will give you  a task list, your task list will tell you everything you must do to get to closing..  #4  Start NACA well in advance of when you think you are going to buy a home.   Let me explain something... there is nothing that you will do for NACA that you would not have done if you already had a 750 credit score.. so yes, you must pay your bills on time....yes, you must begin to save money... yes, you might need to write a few letters explaining why you were late... so what...just do it...  

I consider NACA to be the best mortgage program on the market Hands Down!  If you need and want more information on how to navigate and get a home through the NACA program  contact me.   Atlanta Metro Realtor #NACADIVA #  Marvette Critney - Opulence Real Estate Group LLC 4043964519

Comments (3)

Michele Cadogan 917-861-9166
Fillmore Real Estate 2990 Av U, Bklyn , NY 11229 - Brooklyn, NY
Licensed Real Estate Associate Broker -

Just dropping by to say Welcome to Active Rain  Georgia Realtor  and thanks for sharing your story regarding your experience both as  realtor and a buyer who used NACA.  Looking forward to reading your future blogs. 

Mar 09, 2016 11:15 AM
Marvette Critney

Thank you, looking forward to connecting with other realtors.

Mar 09, 2016 12:45 PM
Tim Trumble, NACA Online Ops

Hello Marvette,

Thank you for the honest review of the NACA Program. The program is not meant to be fast or easy, but that's why we are able to offer the amazing terms we have, and in the end, the results are always worth the effort. For those who are willing to do whatever is necessary, the NACA program is 100% successful.

I do need to make a correction on one small thing however. There is NEVER any such thing as a lost or misplaced document at NACA. We use a state of the art paperless document system in which each document is stored electronically in the member's file.

It is true however that NACA counselors will frequently ask a member to resubmit a document, and it's with very good reason. As with most mortgages, there can easily be upwards of 150 pages or more in your file when all is said and done.

One of the few shortcomings of such a document storage system is that when the time comes to find a specific document, the file must be searched page by page to find it. This results in many cases of the counselor having to go... CLICK... That's not it... CLICK... That's not it... CLICK... That's not it... CLICK... That's not it... CLICK... That's not it... CLICK... That's not it...

As you noted, our counselors are "overworked and overwhelmed", so they simply don't have time to engage in such inefficient efforts. It is much simpler and quicker to ask the member to resubmit the needed document, which then makes it the most recent submission in the stack and therefore easy to find, preventing a huge waste of the counselor's precious time.

The common misconception of "lost documents" is the result of the fact that most of us still think in terms of "hard copy" documents rather than electronic ones, which is easily understandable. We're still barely 20 years from the first time faxes were accepted as evidence in courtrooms.

Even with it's minor inefficiencies, the proprietary NACA Lynx system is still considered well ahead of its time, with many major lenders only now beginning to develop systems that even come close. A couple of the big banks have even tried to license our system for their own use.

There is literally no such thing as a lost document at NACA, as evidenced by the fact that in our 27 years of existence, there has never been a single case of identity theft associated with a NACA file.

We genuinely appreciate your support for NACA as we continue our mission of making affordable and responsible home ownership a reality for everyone possible.

Mar 10, 2016 07:08 AM
Marvette Critney
Opulence Manor - Decatur, GA
Opulence Manor, Blogger, Life & Biz Strategist

I stand corrected, NACA does not lose documents... they will ask you to re-submit the same documents. Why doesn't NACA consider  utilizing a shared document system that enables buyers to upload their documents to their unique file folder.  One of the most common complaints I receive from my NACA buyers is having to resubmit the same documents over and over again.  NACA is a great program and as I've indicated by far the best on the market...

Mar 10, 2016 10:45 AM