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While i believe that the NACA product sounds great in theory I really dont believe that the program works. I have been strung along week after week and told that my file has gone to the underwriter only for them to say i need something else every single time.

This last time they are now saying i have to wait until July to show consistent payment history on my open accounts however, i already have provided them with proof of consistent payment history over the last 12 months. They do not return phone calls or emails timely and they dont review your file in its entirety so that they can tell you all of what you need to give them the first time. I have paid everything they have asked me to pay, i have provided every document that they have requested me to provide. After this last time when they said that i have late payments on accounts i pulled my annual free credit report myself and made a list of all my credit cards and their payment history for them and now they aren't responding to my emails.

I dont understand how after i have provided them proof of my payment history that they can still say i need to wait until July. I have been extremely cooperative and have literally done everything asked or required and they still can't get the approval so i can begin looking for a home. My lease is up in the end of May and I need to move. I am a single mother of 3 children and literally am willing to do whatever it takes to get this loan so i dont understand why they cannot get this done when i have given them everything they need.

I wish i would have seen these reviews before wasting my time, effort, and money into a program that should be a great program for people that are otherwise under served however, the underwriters and mc make this program impossible to work with. I am a social worker and i have referred so many people to this program believing the hype but now i see that they are not really motivated to getting you into a home. I am extremely responsive and i am not complaining about doing the volunteering or jumping through the hoops if the end result is a home for me and my children... unfortunately it doesnt matter how many hoops you jump through they still won't get it done.

They have this "i dont care" attitude and the blatant disrespect and disregard for peoples time is horrific. Its unfair that they are allowed to do this to people.

Product or Service Mentioned: Naca Loan.

Reason of review: Poor customer service.

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That was my experience for the year and a half I dealt with them. I finally had enough after the 800th action plan asking for the same paperwork or paperwork they NEVER asked for in the whole entire year and a half.. they are a joke.


I agree! I am in the same situation.

My MC did not adhere to our scheduled appointment and I have been trying to get a response after doing everything I was told by the underwriter to do to get this completed. Not one person has been helpful in this process and like you I am willing to do what it takes but they are unwilling to cooperate it makes no sense!


Hi I purchased my home through Naca 2 years ago. I don’t think this is for under served ppl.

I have great credit...had gotten approved for a conventional loans through a major bank before I went through Naca. Simply put I saved myself over $20k just in down payment and closing costs. I saved additional money by buying down my interest rate to 2.85%, which, over the life of a loan is significant. Also no PMI is huge...with an fha I would have had to refinance once I had 20% equity and since I don’t have pmi I don’t have to worry about that whole refinance situation.

My file got to underwriting very quickly but this is where the process started to get sticky. My Naca counselor and I sent to underwriting the same document multiple times. It was a branded credit card statement but my credit report did not show it as “xyz credit card” it showed it under the bank name. Also the balance was so insignificant that in the scope of everything it should not have mattered.

This delay caused my closing date to be pushed out. But my counselor escalated and did everything he could to help resolve the issue. Lastly the major issue I have experienced was the inspector. He was horrible and missed something so significant it could have killed me in this house.

I wish I was exaggerating but I’m not. Unfortunately I live in a state where inspectors take a 200 hour class and get certified but are not licensed so I have no recourse. His major misses caused me so much anxiety and financial distress I can’t sum it up. Overall Naca has been a great program for me and has saved me so much money.

The home buying process is stressful...exercise patience and be your own advocate. Closing was a breeze and the next thing you know I had the keys to my new home.

to UnbecomingCheetah #1672688

I am confused how you saved money (20K) by avoiding a down payment. Someone who purchases same home for same amount but puts 20K down has 20k in equity on day one and owes 20K less than you.

When you buy down a mortgage rate, you are basically paying a lump sum of interest upfront. And any lender offers loans with points. But there is a break even point paying points, and you need to calculate the benefit based on several factors. If you put the point dollars toward the purchase, again, your loan is significantly lower.

You borrow less money. So you pay less interest for the lower borrowed amount. It is years -typically a decade+ - before you break even, and by that time, with a very small additional principal payment each month, you would be well ahead of the game. PMI falls off your loan.

You don't need to re-write it. NACA puts a sell lien on your property for x years. Financially unaware people get caught up in the "monthly" pAyment and the no money down, but these are the same selling trucks of car sales people. Unless you can parlay your otherwise down payment into an investment fund gaurunteed to outperform the interest you are otherwise spending by borrowing full price AND the value of equity, borrow less.

Also, never confuse a non-profit with a not for profit.

NACA is a business. People make money from your business.

NACA Verified Representative

The NACA program is more than just theory. It does in fact work for those who stick with it, as proven by more than 60,000 homes bought across the country through the NACA program, with hundreds more every month.

The late payments to which your counselor referred would have ben seen on the tri-merge credit report we pull that uses the information of all three major credit reporting agencies. If there were something in error on your report, the only means of correcting it is to contact the creditor involved and have them 1) provide a letter specifying the error and what corrections are being made and 2) notify the credit bureau that has the inaccurate information so it can be corrected on our credit file. Unfortunately, pulling your own file is not proof that counteracts the information we receive directly from the credit bureaus. The rules and guidelines of the NACA program exist for a reason and the program requirements are just that, requirements.

One of the requirements is that you have an on-time payment history on all obligations for a minimum of the past twelve months. When the credit file we receive direct from the credit reporting agency indicates that the twelve month on-time history for all aqccounts does not exist, then it will cause a delay until enough time has elapsed to meet the 12 month requirement, the creditor has provided proof that the account has in fact been current regardless of the credit report, or the bureau corrects the file to remove the errant information. If the late payment information we received is in error, we need at least one of the above three actions to take place. If that has not happened, then we do not have everything needed to proceed.

It is not a matter of our staff making it impossible to proceed, it is a matter of the requirements of the program being applied equally to everyone. You will have only wasted your time and effort if you walk away. I'm sorry you are in an awkward situation regarding the end of your lease, but that does not justify suspending the rules of the program.

If you are truly willing to do whatever it takes as you stated above, then you need to make one of the three solutions explained here happen so we can continue toward our mutual goal of making you a homeowner. Tim Trumble Online Operations, NACA

to NACA_Online #1666628

So far NACA has been the bane of my existence. Unorganized, unprofessional, unprepared, lazy, incompetent... I can go on and on...

to NACA_Online #1674370

I can’t even get my counselor to adhere to our telephone meeting. As far as I’m concerned the company has major issues and it doesn’t matter how many homes you put people in if you are doing what is required of you and no one responds the problem isn’t the person working with Naca it is Naca. Unbelievable!!!!

to NACA_Online #1675218

You are so full of ***

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