Why the NACA loan makes the FHA loan obsolete.

The NACA program offers the following benefits:

  • No down payment required(100% financing)
  • No Private Mortgage Insurance
  • No closings costs
  • No Credit Score Check
  • Always Below Market Interest Rate
  • Ability to buy interest rate down to 0.0625%
  • Best interest rate buy down in the country
  • Lender matching grant for targeted members
  • No hidden fees what-so-ever.

The FHA loan has NONE of the above. PMI is required, sometimes for the life of the loan. Your required to put down a 3.5% or 10% down payment depending on what your credit score is. You have to pay for closing costs(or roll it into your loan) if your seller does not pay for them(they do not always do so like some may believe). The interest rate is NOT always below market. You cannot buy the interest rate down to the lowest allowed by law 0.0625%. There is no lender matching grant. There are many fees…..

Mortgage Comparrison

Shall I go on? I think not. The NACA loan is superior in every single way. This also goes for any conventional loan you will get by simply walking into a bank.

The only benefit of an FHA loan over a NACA loan is it takes less work, and it is easier. You pay for that convenience, is it worth tens, or hundreds of thousands of dollars? We don’t believe so.

Kristopher Fraley , Realtor

A few years ago a serendipitous event(purchasing a home through the NACA program with a 0% 30 year fixed interest rate) inspired me to become a licensed real estate agent in the DC, Maryland & Virginia area, and I love it! There is nothing greater than giving back and its a fantastic process that I feel lucky to participate in. With so many money hungry sharks preying on innocent people in the real estate industry, I feel honored when people trust my team to help them obtain the best terms on a mortgage possible. I can be reached by emailing kris@no-downpayment.com