All Forum Posts by: Marie S.

At some point last year (obviously I wasn't told until someone just assumed I'd know), they started doing 'priority' and 'non priority' members. I guess since I make so little for my area I'm priority, so I no longer have to abide by the 'in this area you can't pay more than that much' rule, which made it literally impossible to find anything. Even without that rule the market has gone up so much I still can't, but PERHAPS someday it may be at least possible now.. that's my only update. They still don't respond, I still upload my docs.. 

BUT my realtor after now having worked with NACA for 3 years HAS sold houses with them, and is a way better realtor than when we started, so that plus the no more area maxes, there's a small light in the distance.. I'll continue to keep you all updated =D

@Sakina Webb I'm still house hunting. Just put in another offer with my realtor, but NACA's stipulations are so impossible (at least in LA for someone making as little as me) that my offers are never accepted.

I suggest you learn how to be a realtor because your realtor will not know the first thing about finding you a house. She'll send you random scattered MLS listings that are impossible to read. So over the years I created my own system, get yours.

I use redfin because you can save notes, it's 'fun'/depressing to see properties I took notes on years ago, now selling for $300k more. If I were in this position then I'd have gotten something. But I digress. Look for places in the areas you want, in the price you want to pay (more or less as multi's can be $600k and overpriced, or $1m and a good deal) and have it set up emails, I go through the emails every week or so to see places that have lots of rooms, if it has more than 3bdr (for the whole property) I click it and run my figures. Does 75% of the income, plus my NACA qualification amount equal what Redfin suggests as the PITI? Do you have cash to buy down the interest rate? Look at the days NACA rate and do the math to see how far you can buy it down, but remember you have to now pay SIX (previously 3) months PITI UP FRONT, so deduct that cash. So when I look at a property I run 'my' numbers and email my realtor this:


123 Fleet St - Get's 3700 income, So $2775+1290 I can pay up to $4065 payment. If I use cash to buy the rate down 2 points, I can pay up to $720k for the property, paying $38,682 for the buy down plus 6 months PITI.

Now, in LA there's no such thing as a property for $720k that brings in $3700 income, thus my problem. BUT if you live somewhere w/out rent control you could do this QUITE easily, but those are the numbers I use to see if properties 'work'. Nobody can tell me this - not my NACA Realtor, not my financial whoever at NACA that keeps needing docs and meetings. But those are my best advice, UPLOAD ALL YOUR DOCS all the time, all of them. Will they still not see them and make you do it again? Yup, so have them saved on your computer in nice little folders to access all the time. AND get good at finding your own properties that will work for you.

Not sure if that was helpful or made sense, feel free to email me!

DANG. That is very encouraging, awesome to hear stories like this.

What part of CA? Maybe ask this in the non pro area so you get realtors advice? I am personally looking for things that have NOT been fixed up, because I hate the idea of paying someone to install things I don't like. But that's just me and I'm a total newbie.

Well I suggest logging into the NACA Web-file login and uploading your docs month by month yourself. Your advisor will be over run with other cases and will probably not even take your call. I've been emailing mine consistently month after month, and they don't have anything logged since LAST YEAR! Doing it through the e-file assures it's THERE and registered w/out your person having to do anything. Because they won't.

As for the improvements/updates before buying, they'll give you the low down on that on your welcome meeting once you're in, and they assign your realtor. Learn as much as you can about assessing properties yourself, because the realtor they assign you won't do jack squat. By learning how to run the NACA numbers, you can basically rely on yourself to find properties w/out having to wait around for them. I DO use mine to ask about rents and things once I think I'm good on a property, but I do the legwork first, because they won't. --at least that's how it is at the LA office, they don't have time or brains to do ANYTHING to help you, hopefully NY is different!!

Hi @Aurailia Arnold, have you checked out our Valley Meetup Group? I found it through this site, here's the FB page if you want to check it out and chat with people in your same boat! Next meeting is THIS Thurs.

Hi, I think I'm in the same boat as you (in CA) but I couldn't quite understand entirely. I'm also hoping to do a NACA multi family, and live in the worst unit. I do know from reading/listening here that PITI, reserves and repairs are necessary to factor in, not sure what you said after that.

As for repair costs, I think that may depend on your market, in LA everything is sold as is, so I'm not sure how NACA's HAND department will work that, what repairs they'll require or not. I do know in my market it will be impossible to get a seller to agree to any repairs, so I know I'll need all that cash up front, which means less cash I can use to buy down my rate.

Have you already qualified w/ NACA? It's quite a journey...

I think you only own it after the PMI 2nd loan falls off? Something odd like that, since you don't pay PMI they sort of own it too until you re-fi, or request that be taken off, like PMI.

I just had ANOTHER counseling session with them this morning. I've been in the program for 2 years, and all the rumors are true. It's like buying a house from the DMV. If the DMV were paid worse, had 10 times the caseload and didn't quit every few months and make you start from scratch. It's a NIGHTMARE. All you have to do they say is send in your docs every month! NOPE! You have to harass them into taking your docs out of their inbox and entering them into your 'file' which you can only do while they are on the phone with you which they only allow every 6-12 weeks and then cancel when you finally get an appointment. Still reading?

Even once you qualify they'll assign you a 'realtor' who will get a crap flat fee no matter how much you buy for, so no quality realtor will do it. So you work with what they give you, which in my experience seems to be a sweet sweet person who doesn't know a single thing about real estate. Once you find a property that fits their guidelines, they'll tell you oops, we forgot this secret guideline. Oops, here's another one and so on. So you find ALL the invisible guidelines and FINALLY FIND A HOUSE THAT FITS!

Well if your realtor messages you back, they'll find an excuse not to put in your offer. Which doesn't matter, because even when they DO, your counselor doesn't have the time of day to write your PSL, an in LA, the property is already under contract with another buyer. Even if I DID get in an offer and it was accepted, I have every confidence my broker won't hit their marks in a timely manor and I will fall out of escrow. 

WHY AM I STILL DOING THIS!!

Well, because I don't have enough cash/income for PITI in LA and PMI, so they're my only hope. Hit me up if you want help/advice. AS if I'm able to help, 2 years and still in the 'searching for home' category.

Has anyone gotten any updates on a ballpark idea of price to build one here in LA? Or how to finance it? Thanks!!

Hi, I'm looking for Multi's as well, but I have to work with NACA realtors since I'm doing a NACA loan.. might anyone be NACA certified and know about multi families? My realtor knows less than I do which is terrifying!