Home Buyer Assistance Program Now Approved

We currently have quite a few bank-owned properties listed for sale.  This past week, the seller announced that they besides accepting pre-qualification letters from Wells Fargo and Wachovia, they will also accept Neighborhood Assistance Corporation of America (NACA).

This was the first I’ve heard of the Neighborhood Assistance Corporation before, so did a little homework for you.

From the their web site:

NACA is committed to working with people who do not have access to affordable credit. NACA’s participants, or “Members,” are primarily people who have low-to-moderate income, people who will live in communities that need increased rates of homeownership and revitalization, or people who have difficulty obtaining reasonable and affordable credit.

And…

• NACA provides everyone with one mortgage product, which is the best one available anywhere with No downpayment, No closing costs, No fees, at a below market fixed rate and you do not need perfect credit.
• NACA provides free, personalized, and comprehensive counseling to all Members to address your particular credit and financial issues and help determine a mortgage payment you can afford. NACA’s counseling and underwriting criteria are “character-based” and not based on credit scores and ratios.

The program appears to have extensive education and counselling components to assist a home buyer in learning about the home buying process, costs, and budgeting.  It is a program that is sorely needed at this time, and amazingly the interest rate being quoted on their web site today is 5%.

If you are a first-time home buyer, interested in purchasing a home this year, check out the NACA program.  It may be just what you need to make an educated and affordable home purchase in today’s market.

The Phoenix office is located at:

5212 N. Central Avenue
Phoenix, AZ 85012
Phone: (602) 248-4408