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2.0

I closed around $10,000 out of pocket .I Never was giving the opportunity ti get first time home buyer grants like all my girlfriends did. I'm ashamed to tell people how much I needed to get this house .

I have to date 5 years of on time payments on everything credit cards all bills and a 620 score If I wasn't so much in a hurry to by a home i could of seen this so called non profit deal is only good for them. 28 day close did not apply to me simply because it was the holidays my closing counselor went on vacation after countess emails i finally got some guy but then she came back and then left for new year i followed the hand book THEY DID NOT. I BOUGHT MY INTEREST RATE DOWN NOT THEM. You think your going to just GET a good rate NO!

After closing that's when i research you can buy down your rate with any bank that's not so uncommon.

I feel took advantage of. I walked in with clean hands and it still took 3 months to just get NACA qualified.

Reason of review: Not as described/ advertised.

Preferred solution: Explanation .

NACA Pros: House.

Location: 225 Centre St, Roxbury, MA 02119, USA

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Nezzie Jxz

I'm sorry for what you went through. NACA gets away with this because they fly under the radar because consumers do not know where to go to file a proper complaint.

Due to the fact they're organized as a 503(c)4 by the IRS, the only regulating agency to investigate these claims is the IRS. Please fill out f13909 (referral of tax-exempt org) check "other" under violation and write in "NACA acts contradictory to public policy". Then describe your complaint in details. The form can then be faxed, mailed, or emailed to the IRS (instructions state where to send it).

We need the IRS to be aware of what is going on in this organization. They do not follow their mission statement.

Guest

I wanna know how people get the nerve to complain that it took 3 or 6 months to get a home when it’s people that have been NACA members for over a year and are still not in a home!!???!!!??

Guest

All of these people do not understand the mortgage process.. yes you can buy your rate down anywhere but 1.

will you get that rate at the cost you paid? Answer: NO. 2. will you have less than $10K in closing costs?

Answer: NO. 3. Has this person ever VOLUNTEERED at a office to see what is going on behind the scenes? Answer: NO.

Most people close on their loans and walk away and never look back. No volunteer (mandatory) or anything. If you would have volunteered you would have noticed the HUGE AMOUNT OF WORK that each counselor does on a daily basis, the average hours for each counselor is over 50 hours per week. And just submitting docs does not get you your home.

Most counselors have to ADVOCATE FOR YOUR LOANS because you will not be able to get a loan in the REGULAR market. NACA has negotiated that the realtor, attorneys and all third party fees are paid for by the bank, the members only pay upfront escrows and fees. I am challenging the previous person to take their closing docs to any real estate attorney for review and they will see that their complaint is TOTALLY uncalled for.

Trust me there is a lot to complain about when it comes to this company, but closing costs are NOT one of them!!! Be grateful you got a deal and a steal.

NACA Online

The NACA program is a very detailed program because of its full-document underwriting. As such, the NACA program is not designed to be a fast program even though we are continually working on ways to streamline the process without compromising the integrity of the program.

Many members take at least three months to qualify, if only because they need to show an acceptable savings pattern, especially so if they are seeking a mortgage payment greater than their present rent.Most NACA members are low to moderate income home buyers. Many of these borrowers would not be able to get a mortgage directly through a bank, especially with the terms of the NACA program. The NACA buy down feature reduces the rate one-quarter percent for each point (one percent of the loan amount) paid, and one-half percent for each point, two to four times the amount of any bank’s in-house program.And that is on top of NACA’s rate always being below the current market rate to start with.First-time homebuyer grants and other down payment assistance programs are frequently used as a source of funds for the interest rate buy down function of the NACA program. There are literally hundreds of such programs around the country, each with its own eligibility requirements.

However, not everybody qualifies for assistance as these programs are typically based on the buyer’s individual circumstances, just like the NACA program.Congratulations on becoming a homeowner through the NACA program. We apologize for the problems you experienced and hope you enjoy your new home!Tim TrumbleOnline Operations, NACAttrumble@naca.com

Guest
reply icon Replying to comment of NACA Online

Hey Tim there's nothing low and income about someone who can come up with $7,000 in 3 months to buy a house and just for the record I emailed you a few times throughout my process you basically told me to pray and keep calm I don't think that had anything to do with someone simply returning my phone calls returning my emails and giving me current and accurate information

Guest
reply icon Replying to comment of Guest-1479078

:(This is disheartening

Guest
reply icon Replying to comment of Guest-1479078

unfortunately the counselors do not have the time to return calls... most of them return emails.

Most members do not follow that simple direction, they want things done their way and change the process to fit them. These counselors work over 50 hours per week and every MINUTE of their day is accounted for. Patience is a virtue in this program as well as following directions which is most peoples problem. They want to change the process.

With patience you will get a great deal.

This is NOT a fast process, if you are on the *** of being evicted this is not the program for you. If you are in a rush period this is not the program for you.

Guest
reply icon Replying to comment of Guest-1503964

They lose documents and change counselors on you . I attempted this process and did everything they ask just to go to my 3rd appt and get a different counselor that know NOTHING about my case or all my paperwork that I already submitted.

I also didn’t get my calls returned . Very unprofessional.

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