NACA SERIES: 3 Reasons People Are Choosing Not To Use The NACA Program
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- čas přidán 24. 07. 2024
- Hi everyone! I hope you enjoy the video. I hope that you find the video informative and helpful for you. If you have further questions, please let me know in the comment section below.
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If nothing else, NACA will get you all the way together. Organization of documents, saving funds, and budgeting those coins!!
Facts!!! 🙌🏾
That is the only thing I am grateful for.
That NACA process ain't no joke. Just had my conselling appointment today. Damn, I thought I was ready but I ain't, it is going to take one more year.
While you wait it out one more year, keep saving as much money as you can to take advantage of the interest rate buy down
I’m glad I found you. Very informative.
Hi there! I’m glad you found me too! Thank you! ☺️❤️
Hello and thank you for the video. I love your decor, it is beautiful. You are beyond right. I am on step 3 but so far so good with NACA. I have an amazing counselor. But you have to be very organized. Also know how to save files to your drive or your flash drive. I can see that a lot of people do sign up. On my workshop it was 360 of us on line. You are making me laugh. You made her mad being organized. LOLLLLLL :-)
Hey girl! 👋🏾 Thank you so much! I’m glad that everything is going well for you on your NACA journey. You are right about knowing how to save files to a flash drive, that’s great advice! Glad I could put a smile on your face! Lol 😆
Thank you for sharing ❤🎃
I think my biggest issue is not finding a property in my approved monthly amount. The interest rate and property prices are crazy. This is my second year with NACA. Also, my mortgage counselor is not very helpful and i think it's because they have too many people. The realtor also just had me on a regular mailing list so i her properties that are for 55+. Like ... Not useful. And i see a property and THEN the realtor tells me the price doesn't fit. I was si discouraged.
I do appreciate the mindset shift, but that's all they did for me.
Yes this is what I’m worried about also. I just put my info I to the Naca mortgage calculator and it says I can get a house that cost only 120k. I live in California and absolutely no homes out here cost that little.
I owned a home previously, and the process for naca is similar to other lenders as far as uploading documents and total financial transparency. Knowing ahead of time what was required of naca, it only took me three months to qualify. And then...... Naca says they don't count overtime for your monthly mortgage calculation. They based my mortgage payment off of my base salary, but still made me non-priority because of overtime. So I can't purchase in any city I want to live in because of the MSA. Total waste of my time and theirs. BofA is pretty much handcuffing people to the poorer areas here in Michigan.
I completely understand, but NACA is also trying to help those achieve homeownership in rural areas as well as urban areas. I must admit it was a little stressful finding a decent area to buy due to being non-priority, and being limited to where you can buy, but we had a great realtor as well.
Wait, why can't you live in the area you chose? Because your income is more then the msa for the area?
@@tahntalus exactly, it prices me out of several cities. Maybe even the whole county.
@@tahntalus right! I was considered non-priority because of my income.
I agree. The biggest, 'Red Flag' for me was the "B of A" logo showing as one of their sponsors. Everybody knows B of A is one of the biggest CROOKS in America. That why most reputable housing interest firms as well as others avoid B of A like the plague. The 2nd red flag was mention of a "Membership" fee. Who wants to pay someone a membership fee to buy a house? Nobody.
Great Advice Right on Point!
Thank you so much! ❤️
Thank You
I have had a bad experience with the NACA program. Since COVID NACA is only virtual. I have had several workers. They took on more then what they normally do as clients. They keep loosing paperwork and I keep getting the run around.
Trust me, I understand. I think things are starting to get back to normal as far as seeing clients in office. I know here in Atlanta it is. Hopefully, things have started looking up for you!
I had a very, very similar experience being assigned to counselors out of D.C. and then Baltimore. NACA wasted my time. I was bounced around from counselor to counselor with 5-6 months between sessions. They have too many clients and too few counselors. They were difficult to reach between sessions, and when I had sessions would be asked for updated paperwork because the prior submissions were since outdated. This was the same cycle over and over and over, regardless of me being highly organized and having a healthy financial profile. They don’t have the bandwidth to support the number of people going through the program, so as great as the mortgage product may be the headache isn’t worth it to me.
Who's your builder? Is it the popular one like Ryan homes or did you buy a lot first?
We chose Taylor Morrison, and picked out the lot.
I heard when you get approved for the NACA program you must live in the property for five years. What if you buy another property during that time, can you technically “live” in both? I want to learn more about this
I have that same question. With the money I’m saving and won’t have to spend during my first naca purchase i feel i can out towards my 2nd property. Have you found out anything?
@@saphirejewelscoward they put a $25,000 lien on your property every year $5,000 falls off , the reason for the lien is to keep investors from taking advantage of program. You can live less than 5 years but you gotta pay back the $5000 a year depending how long you live in home.
Y 20% down if u were a 1st time home buyer? Don't FHA offer 3.5% down?
I’m sorry, what is the question? The only thing I had to pay was an earnest deposit, and the minimum required funds. There is no down payment with NACA
The approve amount be too low as well
Sellers say that it takes to long to close with Naca so they pass over those offers
I’ve heard that before. I also think that if you have a great realtor that might help the seller to change their mind.