I had this page bookmarked in the event that we didn't close on our home. However, we closed after A LOT of bickering with the Mortgage Consultant, handholding, and negotiating with the closing department over minor "issues" that would have been overlooked by a traditional lender.
Our situation is a little different because 1) we didn't HAVE to use the program, we just saw it as a way to save money, 2) we were already pre-qualified with a traditional lender, 3) we had savings and did not experience any payment shock, and 4) I am a Realtor.
This program is very very difficult to navigate and I can see why many people quit the program and why many Realtors do not refer this program to their clients. Be prepared to send the same items over and over again and also be prepared to have those documents available at a moments notice. Be organized.
Most importantly, be prepared to stand up for yourself and to be your own advocate. If the MC says something like "this may not work" have him submit whatever the document is anyway.
Please watch my NACA Review that I posted on my YouTube page. I made one when we started the "NACA Journey" and then two months later when we closed.
Product or Service Mentioned: Naca Mortgage.