CONGRATULATIONS!! NOW THAT YOU HAVE BEEN NACA QUALIFIED…..
Once you are NACA Qualified, you will need to attend a Purchase Workshop which is held every Thursday from 6:00 p.m. to 7:30 p.m. at the DC & Baltimore NACA office. These workshops are required for all NACA Qualified Members who want to access the NACA Mortgage. You will be provided with information about beginning the home purchase process; identifying properties; addressing repair issues; obtaining NACA Credit Access Approval; submitting your NACA Mortgage loan application; processing the mortgage application; and obtaining NACA’s post-purchase assistance. You will receive your NACA Qualification Form and can begin searching for the home of your dreams. Since you want to find a home that is within your NACA Qualification and meets your needs and desires, it is important that you have not already committed to a particular house. Your NACA Qualification is valid for 90 days. Therefore it is important that you use this time to search for your home since you would need to be re-qualified after 90 days or before if your circumstances changed to ensure that you are still qualified and your maximum mortgage payment has not changed.
You may use any real estate agent of your choice. It is highly recommended to use a agent that has extensive experience with the NACA program. There are far too many intricacies dealing with NACA. Getting qualified is just the first step of the process. There are a lot of “ins & outs” an experienced NACA team will know how to handle that other agents simply wont know how to.
Your agent will help you locate suitable properties, including the ones identified by you. Once you find your desired home, you must immediately contact your Housing Counselor to obtain a Property Qualification Letter which verifies you are qualified to purchase this property. Your agent can do this. Your agent will then negotiate on your behalf the terms of the Purchase and Sale Agreement. He or she can advise you on the amount to offer, but you must decide if the house is right for you at that price. The agent can also help you negotiate what renovations may be necessary as well as whether and how the seller can assist most effectively in making repairs or if the cost of repairs will be included in your mortgage.