NACA?

April 20, 2011 8:10 PM

NACA: Friend or foe?

I'm thinking of checking out NACA in hopes of buying a house in a few years. Their wikipedia page looks like an ad to me though and I've heard some people say negative things.

Do you have personal experience with NACA? Can you refer me to independent journalism about NACA?

Thanks!

posted by serazin to Home & Garden (3 answers total)

They approved me for a mortgage about twelve years ago, but I never followed through, couldn't find anything in my price range. Now all of a sudden, after all these years, they're bombarding me with emails asking me to fill out more forms, that's just weird!

It did seem like a really good program at the time.
posted by mareli at 8:38 PM on April 20, 2011

My husband and I bought our house with NACA. They are a legit organization and were literally the ONLY way we were able to get a mortgage, with our awful (at the time) credit. They can be a pain to deal with, in that they make you jump through a lot of hoops to prove that you can financially handle mortgage payments, but they don't really hold your hand through the process. You will have to be very proactive to be successful. But I was very happy with my experience in the end. I would recommend them to anyone who needs extra help getting a mortgage. If you have awesome credit already, though, I don't know that NACA would be worth the hassle. But there are no "catches" to it--they really do offer an amazing mortgage to people who would never be able to get one otherwise.

(By the way, I feel the same way you do about the website. It is truly heinous and I wish that they would hire a web designer.)
posted by feathermeat at 12:17 PM on April 21, 2011

Response by poster: Thanks folks. For posterity, I just found another askme thread on NACA. Oops!
posted by serazin at 9:17 PM on April 21, 2011