The workshop is for information only though it is required to become a member and receive an intake appointment. All you need to bring is something to write with and questions about the program. You must stay for the entire workshop to receive credit. You will not be reviewing your files at the workshop. There will be 1 counselor giving a lecture to about 100-200~ prospective members. During the workshop you will be given a chance to sign up for an intake session. Your intake session will be approximately 1 to 2 months from the date of your workshop (depending on your location there may only be 2 or 3 or 4 counselors in your local office with up to 200 new members in each workshop and each individual counseling session lasting about 2 hours – you can do the math and see why it takes a while to get an intake appointment).
Pro Tip: NACA holds “Achieve The Dream” events all throughout the country. At these events NACA is able to qualify far quicker, as little as 1 day! Realistically speaking, very few will be able to qualify this quickly, however at the very least you would be able to get your file starting instead of waiting 1-2 months for the intake. (You may volunteer at the event).
At your intake appointment you will need to bring everything you have listed plus your state issued ID, at least 1 preferably 2 bills like utilities, cable/internet, loan statements, cell phone bills or anything you pay a monthly service fee to that has the same name and address on your statement as is listed on your state issued ID which also needs to match your current address. A PO box is not acceptable. If you have your bills going to a PO box then you need to first change your address on your bills to your current address. If your state issued ID does not list your current address then you need to get a new ID.
You will probably not qualify for a few weeks or a couple of months after your intake session for 2 reasons: You must sign up to volunteer at least once before you qualify. You can certainly get this done before your intake if you wish. Also at intake you will be given information on how to get your current AND former employment verification. You will need to contact all employers over the last 2 years and you will also be given a form from your counselor that your current employer needs to fill out. Then after everything is set your counselor will submit your file to the underwriters who 99% of the time have questions and conditions that need to be met first.
If you are going to just a regular local workshop then as mentioned above, you really don’t need to bring anything other than maybe something to write questions with. You don’t work on your file at a workshop, it’s just an introduction to the program. If you’re going to an Achieve the Dream event then you are going to want to bring all of the things you mentioned plus all of the things mentioned above. Bring your valid photo ID, voter registration card if you have one (you do have to be registered to vote) W2’s, tax returns/transcripts for last two years (which can be gotten from the IRS website), pay stubs at least the last 1-3 months, bank statements for all accounts last few months, credit card statements for all accounts last few months, and statements for any other loan as well as 401K statements as well.
It is reasons like this that it is not advisable to look for houses prior to qualification. While the timeline is not completely dependent on you, staying on top of everything does help. You can expect 6-12 months from intake to closing. Again that is all dependent upon your situation. Some people are “ready now” and get qualified within a month (employment verification is usually what holds those up – some employers you have to nag constantly to the send the information directly into NACA) and find a house immediately others take their time and take 6 months to get qualified and then look around for 6 months. You will need to write in a 45 day contract at minimum, preferably 60 days contract at least to be realistic. The longer the contract, the less desirable your offer will be. With that being said, NACA offers generally lose in multiple offer situations. The NACA 28 day timeline as of right now, due to circumstances beyond their control, is only for NACA to get their end done. Bank Of America has their own timeline and usually is what the hold up is. To be honest, even without the lender hold up, 28 days has proven to be unrealistic.
For more information, contact us, we’re happy to help.