Step 2- Housing Counseling & Preparation

At your first meeting, the Housing Counselor(Also known as “MC”) will answer your questions about NACA and start your preparation towards home ownership. Your Housing Counselor will review your debt and other payments you make to determine if you are currently ready for home ownership or what steps you need to take. He/she will also help you determine a mortgage payment you can afford by reviewing your finalized comprehensive budget detailing your income and expenses. This budget will identify your potential available savings and the amount available for a mortgage payment. It will also identify opportunities for you to reduce your expenses providing additional funds for purchasing a home or for other items. You will receive an action plan that identifies any additional documents, information and next steps for you to become NACA qualified. After each counseling session you need to make a follow-up appointment until you are NACA Qualified. Qualification time varies. I have seen qualifications as quickly as 2~ months, I have also seen qualifications take 1+ years. Each members qualification will differ depending on a variety of factors.

It is recommended to keep all of your NACA documents in a well organized place. This way if a document needs to be submitted again, you will have it at a moments notice. Preparation is extremely important through the NACA process. Remember, this is NOT the quickest loan product on the market, however the terms offered cannot be matched in any capacity in the nation.

Step 1- Initial Home Buyer Workshop

Step 2- Housing Counseling & Preparation

Step 3- NACA Qualification

Step 4- Housing Search/ Agent Representation

Step 5- Purchase & Sale Contract

Step 6- Property Condition/Repairs

Step 7- NACA Credit Access & Bank Application

Step 8- Mortgage Processing & Underwriting

Step 9- CONGRATULATIONS! Closing Day & KEYS!

Step 10- Post Purchase Membership Assistance Program