NACA SERIES: LETS TALK ABOUT BANK STATEMENTS
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- čas přidán 16. 03. 2021
- #NACA #NACAQUALIFIED #BANKSTATEMENTS
Hi everyone! in this video, we are talking BANK STATEMENTS! It's really not that hard to understand. NACA will always need your bank statements to see how you are managing your money. Hopefully, this video will help you as you go through the NACA program. Make sure to comment, like & subscribe and feel free to share as well@ XOXOXO!
Thank you so much this was so helpful! Yes! We can do this!
Thanks for the heads up info, it truly was helpful!
Thank you so much for the information.
You are quite welcome! ❤️
Great content as usual 💯
Thank you as always ❤️
Hello, I enjoyed this video. I would love for you to give examples and discuss the proper way to fill out the naca bugdet forms and the initial assesment forms. I will be meeting with my MC next month and that would be so helpful to me.
Hi Marie! Thanks so much! And yes, I will see what I can do! ❤️
Thanks for sharing
Hi Tosha, thank you sooo much for this series. It’s been so informative. Did you have to submit statements for every bank account that you have or they just need one?
Hi!! Yes, 90 days worth of bank statements for each open bank account.
Thank you so much.
No problem 😉
What about Christmas time? Does that spending count against?
Hi thanks for your videos so helpful. Question do they ask for statement from just savings and checking account or also for credit card statements ?
Hi!! Thank you so much 😊 So yes, they will want to see your credit card statements as well.
Thank you so much for the video. I’m waiting for my first NACA appointment in November. Does this mean that if we have any debts at all, such as personal loans and such, we will not naca qualified?
You are welcome! No, just because you have accumulated debts does not mean you will not be naca qualified. People have all kinds of debts and still get naca qualified. I have student loans and was naca qualified. Just make sure your income is higher than your total amount of debts.
Question. My husband and I have 5 accounts combined. Should we close accounts and just do two joint (checking and savings).. also, I seen your last video about “mattress money” not sure what to do with it at this point. My first intake is in July
If you’re not really using some of the accounts I would definitely close them and just have a combined checking/savings account. It’s just easier to manage anyway. For “mattress money” You may not be able to use it for the minimum required funds, because depending on how far back your MC goes to request your bank statements it will show up if you start depositing the money now, they will definitely question you on where it came from and if you can’t verify it, they will not let you use it for the MRF’s. If you can just save it to buy new appliances for your home if you can afford to do that, and just start saving as much as you can. You should designate your savings account for the MRF’s so they see an ongoing pattern of monthly savings for your MRF’s.
How do they handle credit card statements ?
I am doing Naca now
Hi , is necessary to have a saving account ?
Do I need to state for each Venmo and cash app transaction which are some transaction like 1.00 or 3.00 I have like six of them.
Yes, a letter of explanation would clear that up. If you have zelle that would be a better app to use. My mortgage counselor advised us to use it when we were going through the process and I still use it now.
We just had our HWB and began uploading everything to the web file. Will they want a L.O.E for account transfers?
Yea!! 🙌🏾 most likely yes, but it all depends on the situation. For instance, I made a transfer from my checking account to my savings account every time I got paid, the amount was consistent and stayed the same. My MC did not ask me to write a L.O.E.
I'm currently at this point, What I'm trying to figure out is do I summit 3 months of statements from the day I had webinar 1/31 or from today's date 3/23, Thanks for sharing as well.
Thank you! You should submit 3 months prior to today’s date. Those would be the most recent statements.
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Which month they ask for. Is it the last 3 months before you get your meeting or the next months forward after your meeting.
Prior to your initial intake meeting you should have the last 90 days of your bank statements ready
I have two bank account, can I just give info on one bank account and use that for my naca process
They will most likely ask for all open bank accounts, but you will need to designate which one will be used to keep track of expenses, deposits and minimum required funds.
Can my husband apply form naca him self even if we are marry
Your husband can sign up for the NACA program himself, but because you are married, and if you are living together, when it comes down to the loan once you are qualified, both names will need to be listed on the bank application. There is only one NACA ID issued per household.
@@Regal.Impress than you saying that they will count my debts also ?
@@yaitzaarroyo5352 Yes, both you and your husband together, this will determine the amount of home you can afford
Than you
CAN I HAVE 2 BAANK ACCOUNTS?
Yes, you will have to provide bank statements for both accounts though.
No more QVC
Absolutely! NACA does not want to see that right now, lol! But once you close, then you can order whatever you want! 😂
All your videos the volume is too low
Ok thanks. Make sure to turn your volume up! 😉
@@Regal.Impress sure, I always turn it up and use my headphones because I watch your videos alot. Thanks for taking it in consideration 😊
@@yannickkabwit6783 no problem! And thanks for letting me know about that 😊
Sure you're welcome, so I have a question if you have 3 banks accounts 2 savings and 1 checking but you keep alot of funds in your checking and you do not want to presente the 2 others savings because of alot of transactions and do not have enough funds in those two savings is that a problem? And how to fix that situation? Thank you
@@yannickkabwit6783 you will need to supply all bank statements from all accounts. I always say the less the better. If you can close 1 or 2 accounts and just have 1 savings and 1 checking account, it would make life much easier on you and your counselor. Try limiting the number of transactions if possible such as transfers, non-payroll deposits etc.