Who has here has used NACA?

Question

Luis Suarez · Answer

My wife and I bought a house with Naca and the entire process took less than 4 months.  No problems what so ever.  We also didn't have to do any of the crazy advocating stuff at the workshops(so im going to do it in this post).  The key is having all your ducks in a row.  If they say that they're going to require these 10 specific documents, don't show up with 8.

In my personal opinion buying a house a huge responsibility, and if you are not able to follow directions from a company like NACA you might now be ready... It wouldn't hurt to check them out.  Just make sure you're using an agent that has experience with them.

David Benton · Answer

Never had any reason to purchase through them but as a broker.

If you have more time than you know what to do with then maybe pursue but based on my experience I recommend you walk away. The buyers have to jump through many counseling hoops for 6 to 12 months, they are a pain to deal with and very rare that any will ever close. Worst part, they won't communicate with anyone but the buyer so as a seller that is well informed, they won't likely deal with you unless they are a very motivated seller.

Tim Trumble · Answer

Hello Walmsley,

Any and all payment figures you see regarding NACA loans are fully amortized, including Principal, Interest, Taxes and Insurance.

The program isn't meant to be fast or easy, but for those who stick with it, the rewards are always well worth it.

With a below market interst rate, no down payment, no closing costs, no PMI and the ability to buy the rate down to nearly zero, the money saved is woth the effort.

Tim Trumble

Online Operations, NACA

Chris Mason · Answer

A lot of stuff that resembles MLM according to their refugees, though I'm not in the loop on what you have to do to actually get a cut of the action - I haven't meet anyone that did actually get a cut.

They suck you into this little vortex where they want you to host/promote their workshops and the like. They do presumably actually close transactions from time to time, or they wouldn't be in business -- I only encounter folks that are fed up, done, want out, just want to buy a house, have been messing with them for eight months, and just want to actually buy a house, and not spend another X months hosting workshops.

Presumably those that figure out how to get a cut of the action and stick with it are happy. I don't know, because they wouldn't be refugees and I wouldn't be in a position to meet them.

Who has here has used NACA?

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