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Has anyone used NACA to purchase a home?

Can you tell me how the process was for you and how long did it take and if you didn't purchase through NACA do you know of someone who did? My husband and I are thinking that this is the best option for us to purchase a home due to its great perks but we are afraid that it may take longer than we would like. The next appointment to meet with the counselors isn't available until September so this already lets us know this process will probably take forever....but with no down payment, no closing cost, a guaranteed interest at least 1% lower than the national rate, and the opportunity to pay down our interest rate... I think we have no choice but to wait out the process.

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bxbsmommy

Asked by bxbsmommy at 7:17 PM on Jul. 25, 2009 in Home & Garden

Level 6 (107 Credits)
Answers (2)
  • We didn't use NACA. We used a grant program that matched our downpayment 3 to 1 and paid closing costs. The buyer paid inspection and appraisal. We had to attend a one day course. Our closing is next week and we will have to pay $1700 for a house in Tucson with a pool with a new kitchen, floors, roof, furnace, AC, and other things. The whole process took about 3 months, about 6 weeks from when we found the house.
    GailllAZ

    Answer by GailllAZ at 7:28 PM on Jul. 25, 2009

  • Two of my friends used NACA to buy their first home and they both said it worked very well. The process took them both around a year, it is a little slow but at the end it is worth it, I heard.
    MotherHubbard78

    Answer by MotherHubbard78 at 12:45 PM on Jul. 27, 2009

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