any good mortgage deals in New York for First Time buyers?
Written By: admin on September 25, 2009
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I bought my house with NACA. I like the program. 2005 my husband and I went though the program. We didn’t have any credit issues so we were qualified quickly. We went to the closing table with a check for $2800 and that was for our interest rate buy down, interest and taxes. We volunteer at least 5 times a year.
Here what you need to know: You will need to sign up or a workshop by going online to http://www.naca.com or calling 1-888-302-6222. Attend the workshop that is four hour long and please stay for whole time, because at the end you will be giving a appointment. Page 30 of the workbook you will be given has a listed of documents you will need to provide to the counselor on the first appointment if possible. You do have a membership fee and credit report that you can pay online or at the office for your first session. Allow yourself about 1 hour and half for the first session. At the end of this first appointment you will be giving a task list. Saving is SO VITAL DURING THIS TIME. If you have a payment shock please save the funds and you will be okay. Fax in your updated docs and your counselor will see it cause they will be a email to let them know you sent it. Volunteering will keep your file on the counselor mind and shows the counselor that you are serious about the program. If you complete the task list and you don’t have any other issue come up your file will be submitted to the underwriter. Once your file is approved you will be sent to a buy workshop to educate you to the house hunting process.
NACA has not has NO closing cost, NO down payment, NO perfect credit required and NO PMI. NACA does have NSF (Neighborhood Stabilization Fund), it help you not the mortgage company. The NSF is a whole lot less then the PMI required by traditional mortgage company.
I like the company so much I started working for them via a temp service. You can call me at the New Orleans or call the location office near you if you want more information or visit http://www.naca.com.