EVERYTHING YOU NEED TO KNOW ABOUT NACA | The Good, Bad, and Ugly in 2024
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- Äas pĆidĂĄn 12. 01. 2024
- In this video, I go over everything you need to know about the NACA program. Including the difference between priority vs. non-priority membership, the eligibility requirements, and the approval process. NACA eliminates all the financial barriers associated with homebuying:
No down payment đ«đ°
No closing costs đ«đ°
No mortgage insurance đ«đ
No credit score requirements đ«đł
Use this tool to find out the area median income (AMI) for your zip code: www.nacalynx.com/naca/purchas...
So don't miss out on the latest tips and tricks for a successful NACA experience! #NACA #homeownership #homebuyingtips #NACAMortgage
Do you know someone moving to the Washington DC area? I would love to help your referrals with their real estate goals. I'd be honored if you'd give me a call, text or email! đČ
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A B O U T M E
Daniel Walcott - Realtor
Washington, D.C.
Keller Williams Capital Properties / MG Residential
202-851-8865 or dwalcott@kw.com
Follow me on Instagram at đ / danielwalcott.realtor
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Daniel Walcott is a licensed real estate agent in Washington DC & Maryland with MG Residential and Keller Williams Capital Properties. Accuracy of all information is deemed reliable but not guaranteed and should be independently verified.
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Great thorough overview.
Thanks for a very thorough explanation of this process. Iâll need to save some money either way, but with NACA, itâll probably be less Iâll need to save. I asked the financial advisor who said I was pre-approved, & mentioned USDA, FHA, & conventional loans but never mentioned NACA. I brought it up, now Iâm waiting for our discussion. Great explanation, thanks again.
The zoo was so/
Good info
Amen
Expect to have about 4k cash saved up
If that extra 25k lien is reported does the forgiveness affect the credit positively? If so thatâs an extra plus
Hey Daniel,can I use NACA again if I used them 20 years ago and I still own it?
Proof of rental payments: I am living in a family home and paying the mortgage while Iâm here. The mortgage isnât in my name and I pay it directly to my cousin and he submits the payment. Do you think NACa will accept this?
Does NACA do construction loans? Can this work in conjunction with other programs, like USDA?
No construction loans, Naca is their own program you canât combine this with USDA
Naca is very slow man âŠI tried them before and the house I wanted was sold long before the process was over đ€·đŸââïž
And they are soooo nosy. They asked for proof of voter registration, asked what my religion was if I went to church and what church I go to, if Iâve ever volunteered and who was my mobile carrierâŠ.like wtf does any of this have to do with me purchasing a HOUSE?đ whatâs with all the extensive personal questions? What do they use this info for?
@@prettykitty5416 Theyâre still making it hard for our folks to buy a home itâs character based lending I really suggest people just pay your bills on time and go the traditional route because theyâre other down payment assistance programs out there that are easier.
@@prettykitty5416Why Naca asking for your religion thatâs strange Iâm also a member but I decided go traditional because theyâre not really trying to help us theyâre making it more difficult because itâs character based lending. I heard you canât get a home equity out unless itâs for home repairs. They draw people in because of no down payment and closing cost but itâs stressful. I really suggest people to work on credit to go to a bank itâs easier.
@@ShayWilliam341 wow đź
@@prettykitty5416 whaaat ?! Oh wow .
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You have to live in that house till you pay off the loan...
WAIT!? Are you serious?